Dear shareholders, a warm welcome to the 2021 Exeger Sweden AGM Information Meeting. As we are still in the pandemic, we're having this information meeting, yet again, digitally. For all of you that don't want to watch the whole movie, the four most important things that happened since the last AGM are, one, we secured a location for the new factory. Two, we secured funding for this new location. Three, we have launched the two first products on the market. Number four, the global reach from following these releases is exceeding 1 billion people worldwide. It's fair to say it's a pretty successful release. Over the last year, we've seen an increasing interest for Exeger. We've gone from 700 to 1,500 shareholders, and for all new shareholders, we're going to spend a little bit of time today to talk about the technology and all the benefits. I've also invited today Nick, who is head of product, and Georgios, who is Chief Commercial Officer, to talk about the product development and the sales pipeline. We'll also talk a little bit about COVID and other interesting stuff. Again, a warm welcome. To put Exeger in the right context, I want to give you a short overview of the development of the solar cell or PV market over time and an overview of the different available commercial technologies. For a long period of time, you had to be a nation to have a relationship to solar. It was very expensive and difficult to install. You could see solar parks being installed in various places around the world, but as a normal person, you had really had no relation to this. We call that phase I, and that's still ongoing. More and more all over the world, solar parks are being installed, now also by private companies, in some cases, even individuals. Phase II happened when Germany and Spain decided to subsidize PV for residential use. That means that people could install solar cells on their roofs, generate power, and sell it to the grid at a favorable rate. This enabled people who had a house, a relationship to house, to also come in contact with solar and see the benefits. Phase III, this is where we come in. Exeger is in many ways creating phase III. We are leading the way into phase III by creating technologies that are useful in the products that we use in our everyday life, integrating in many different devices. We'll talk a little bit about that today, of course. This means that we have adoption over the whole globe to the masses with our technology. That's going to be exciting. Looking back at the history of PV and then looking at the different technologies available today, we see that of course they were all developed to be as good as possible in these different environments. Silicon solar cells have been dominating the world market for forever, since day one, and they're really good. Utility-scale, they will produce a lot, even though they're sensitive to light angle effects and shade and so on. They're like the workhorse. They work really well. In addition, there's been several thin-film technologies developed, such as CIGS, CIS, CdTe, and so on. They were also developed for power production, and they share the same characteristics. Some minor details will differ, but more or less the same. They all have certain characteristics in terms of looks, efficiency, and durability, optimized for outdoor commercial use. Let's talk about Exeger technology. Over the last 12 years, we have invented, developed, and are now providing a world-changing technology, and it's so satisfying to see that it's not only us who think this is good, but the European Patent Office have actually nominated me and Henrik for the European Inventor Award for 2021. They see all patents in Europe year after year, and our patent that we're nominated for is from 2014. They look at the technological height as well as the importance of the patent. What is it that makes the European Patent Office think we're so great? Let me try and explain. What we have developed is a new technology. All the previous technologies, like I mentioned, were made, designed to produce as much power as possible in an outdoor, sunny condition, and that's great. What we have developed is the world's first customizable solar cell. With that, I mean that we can change the design of it, we can print it in different forms. It can be a circle, it can be a rectangle, it can be a photo. It can be basically anything. We can also change the different textures of the surface. I think we have more than 100 different textures at the moment. We can also change the chemistry of the solar cell. With that, I mean that we can optimize to be as good as possible, so to produce as much power as possible in the expected light condition of the specific product. Let me take an example. If we have an indoor sensor, for example, we know what kind of light it will be exposed to, maybe the LED, we know the light strength, the lux level, we know more or less how many hours per day this will happen. Then we can optimize the chemistry to be as good as possible with these boundary conditions. If we have a hybrid use case, for example, a headphone, which is used mainly indoor but also sometimes outdoor, when you walk to your car, to your bus, you're running or whatever you do, then we change the chemistry to be as good as possible for this expected working condition. In addition, our solar cell is very durable. We do extensive testing in the different scenarios with our customers. These characteristics enable us to integrate Powerfoyle in the products that we are buying anyway in the hundreds of millions per year. Headphones, e-readers, smart gadgets for your house, smart workplace, IoT things, huge markets. We call this irreversible tech because who's going to buy a pair of headphones with a cable to charge them, when you can buy the same pair of headphones that will charge from the ambient light around you? While you're using them, you're also helping to restore the carbon balance of this planet. The more you use them, the more you help. We call this irreversible tech. Who's going to go back? For all you new shareholders that might not be aware of this, all of this is happening here in Stockholm, Sweden. What we're doing is we're creating a new industry, nanotechnology, clean tech, and industry here, 2021, Stockholm, Sweden. After this short introduction, I want to welcome Nick to talk more about products and product integration. Thank you, Giovanni. I'm super excited to be here to be able to talk about the two new products that we have launched this spring. Most of you have seen the announcements, but what I'm going to do is talk a little bit about the work we've done together with our partners to launch these products and what they actually enable. If you start by talking about the helmet we've done together with POC, not only did we actually integrate a solar cell into the core of the helmet, which is an important point, the cell is laminated into the helmet behind polycarbonate. More importantly, we have created a completely new product category. The ability to actually harvest energy from any light at any point in time has allowed POC to actually make a helmet that doesn't have a charge port, like Giovanni mentioned. When you do that, it just works. It's completely hassle-free. The other thing, of course, when integrating the electronics into this is just a start. The ability to actually make smarter helmets in the long run is endless. Even this helmet has more sensors in it than we're actually using. You will see a lot of different products launch, and Georgios will talk more about that later, that have even more integrated technology in it. The ability to actually add to the power budget gives completely new opportunities and has started a completely new product category, and we're pretty proud of the work we did together with POC and the ability to have this shipping later this year. If you move on towards the other product that we launched just now together with Urbanista, it's something that is slightly different in its integration. Here we worked a lot with Urbanista on the actual fit, form, and function of it. You will see a solar cell that has a completely new surface. Priorly, our former shareholders and other followers have seen us do surfaces like leather, where we would stitch into the leather in the integration method. We have done surfaces that look like wood, that look like knurling, surfaces that look like carbon fiber. With the work with Urbanista, one of the key things we did was, since they're so fashion-driven and minimalistic in their design, we were able to create a surface that basically looks like soft-touch plastics, and you can't see it. It's very smooth, and it has moved our ability in the actual game of lamination and doing surfaces to a completely different level. That's cool. As you also see, both of the products, both the POC helmet I just showed and also the headband here, the Powerfoyle brand is right smack in the center of the solar cell, right on the product, building our integrated brand strategy in a pretty fantastic way. Having said that, as you know, we can't really talk about 2020 without talking about COVID. COVID has been an immense challenge for the entire world, and it goes from things like most of you who is in business see today with lack of materials and shipment and distribution troubles. We see extremely long lead times on electronics, et cetera, that is affecting most of our customers in the electronics field. You see issues on polymers across the world. You see issues on metals now. It's been really challenged for everybody. You look at flight restrictions and quarantine, which makes it very difficult for most people to collaborate across different continents. Production capacity has been down. China was shut for about five months. When somebody then needs to build a new product, they're going to build products that are prioritized based on their track record, the amount of money they have generated in the past. This leads to most companies having a lot of development projects that have been delayed. Despite that, we, by changing our strategy, have been able to actually launch two products. Well, the ability to do that, of course, has to do a lot with local presence. POC is a company headquartered out of Stockholm, so is Urbanista. We've been able to iterate really fast with those two companies, and even though manufacturing has been happening down in China and none of us have been able to travel, the product and the design teams of both companies have been able to do it quickly and get the products into the market. What you'll see now coming, of course, that these local collaborations are going to be enabling us with all the iterations we've done, all the knowledge we've built to actually rinse and repeat and do that with other customers globally when the world opens. Of course, the strategy that we're on now, having done the work, does not exclude all the global giants. We're still talking to them, and I will let Georgios continue to talk more about the customer strategy. First, a few words from Urbanista's CEO, Anders Andrén, on our collaboration in getting the world's first solar-powered headphone into the market. Anders. Hi, everyone. My name is Anders Andrén, and I'm the CEO of Urbanista. For those who don't know us very well, we are a lifestyle brand making audio products, speakers, and headphones for a curious, active, and urban lifestyle. What we try to do is making products that are focused on design and how people live their life rather than talking too much on tech. It's products for the people. We are spread across the world. We sell pretty much everywhere. However, our home turf is here in Stockholm, Sweden. That's also where this journey began, where I ended up on a date with Exeger. The first time I heard about the solar-powered cells, I was like this, "I've heard this so many times before. It's not working, and it's too expensive. I was quite skeptical when I went to the meeting at the Exeger office. As we went through the sort of the possibilities and what we could do, it started to heat up a little bit. When I also realized that's not only the office, that's also the factory, it was quite thrilling. We started with a teamwork of exploring how the product could look like. For us, design is more important than anything. It needs to be a product that you wear together with all your other outfits, not a tech product. That's why we did millions of iteration to make the product just seamlessly have a solar cell embedded on the headband. The collaboration was extremely tight on basically all touch points. The design, the product development, the marketing, the PR, and that I think made it possible to come out with a product so fast and so well, because we always looked for the solutions. Whenever we encounter something, we always looked for a way to resolve it. I hope you liked the clip. This was the announcement that we did a couple of weeks ago to the world. When we launch products, we always get nice feedback. This was beyond any dreams we could imagine. Our PR agency had a look at what reach we had, and according to them, our potential reach was 1.1 billion people, and that's just crazy numbers no matter which company you are, and we are a company of 30 people. This is quite mind-blowing for us, and it definitely addresses the fact that a lot of people want to talk about what this new technique does to the consumer tech in total. This world's first with a team of 30 people, we don't often do world's first products. In an interview at the day of the announcement we had with Jeremy White at Wired magazine. A pretty cool magazine, to be honest. He said, "Anders, how does it feel when you're launching a world first? It doesn't happen very often." I remember 1989 when the ANC was launched, and me and Giovanni were looking at each other, and that was sort of the goosebump moment when you realize that, wow, this is not just another product. This is really a world's first, shifting the industry into something greater. From there, it was just a PR launch beyond our expectations. The product, Urbanista Los Angeles, is, as I mentioned, the solar cell embedded into the headband. If I didn't tell anyone, they wouldn't imagine it was a solar cell here. It would just be part of the design. The product itself, it's active noise cancellation, ambient sound, and a phenomenal sound for your videos, music, calls, or whatever you need. When you're jumping on that long flight, you don't have to be concerned about the playtime anymore because that's now infinite. That's one of the pain points that we are resolving here. People are having anxiety about playtime. People in our industry, we compete about that. Playtime 20, 30, 40 hours, and now infinite. That's sort of one of the biggest pain points we resolve here. Of course, the more important one is that we're making the first step into a shift of sustainable energy. Buying one product might not make the big difference, but it is a shift into the right direction, and that's what we want to be part of. For us, this is the first step of many, but we hope that we and many others do many other products like this in the future. As I see it's the dawn of a new era, and I'm very happy to be part of it. Thank you very much. We would like to thank the whole team of Urbanista, especially Anders, for the great cooperation we had together and for a fantastic product we have developed together. As you heard from Anders, we have received an enormous response that we are very happy about. We already see things moving on the customer side. We see a lot of increased interest for our technology, which we are, of course, very happy about. The value of all this PR attention is worth more than $10 million if you would pay for ads in normal newspapers. I encourage you all as shareholders to watch out at Urbanista homepage. Please go in and buy. I definitely recommend and like this product a lot. You will like it. Why have we chosen Urbanista? It's a company that is located close to us here in Stockholm. As Nick said, it has gone really fast, actually faster than we anticipated. Of course, we both speak Swedish as companies, and we have a really good cooperation also with their ODM placed in China, Shenzhen. This has enabled us to work very closely together and be able to enable nice features in the Urbanista headphone. Switching to the POC helmet, we also got enormous response from the announcement from POC. This cooperation opens up for new cooperation opportunities with other type of helmets, so with the manufacturers of ski helmets, construction site helmets, motorcycle helmets. We have now learned how to integrate the cell into helmets, so we can take a dumb helmet and change it into a smart helmet and add new functionality, and in that way, also change the price point. We are extremely happy that we now see a very strong inflow from other helmet manufacturers, and not only in the helmet industry, but also in the headphone industry. Just like I recommended you to buy the Urbanista headphone, I strongly recommend you, of course, to go into POC's website. POC helmet will be available for sale. Thank you, Georgios and Nick, for your presentations. Thank you, the entire Exeger team, for these two revolutionary product launches. We're now shifting two industries, creating self-powered products in a way that no one thought was sort of possible to do. We have reached over 1 billion people with these press releases, and that's just unheard of. I'm really proud. You should all be proud. Looking at the 12 months plan that I showed you in the November meeting last year, we could see plans for a new factory, a new organic chemistry lab, communications, and of course, above all, a number of products being launched and introduced to the market on the shelf during 2021. Let's look at what has happened so far this year. We have completed the organic chemistry lab, which I will talk a little bit more about soon. We have successfully managed to launch with POC the first self-powered helmet, which was received with great success in the market. It's going to be available on the shelves pretty soon. We also managed to launch the world's first self-powered headphone together with Urbanista. That launch was actually originally planned for October this year. Thanks to our great collaboration, we managed to move this and do it already now. That's a proof how easy and good it is when we can work together with our customer. We can meet, we can integrate, we can iterate over and over to make a really good product in an efficient way. On the contrary, when we can't meet, work together, it's very difficult, cumbersome to create great products. We're all very much looking forward to the travel restrictions being lifted now. I hope after the summer, we'll be able to start traveling again. That will greatly increase product development speed. As we have opened up a number of new verticals, like Nick mentioned, the development time for each new product within certain verticals will be shorter for sure. Looking at the second half of this year, I'm very excited because it looks really good. In addition to the POC helmet and the Urbanista headphone, we're going to have two to three more products on the shelf. Two other projects that we have are slightly delayed and will come early next year instead. The Urbanista one, that came four months earlier, so the others are delayed a little bit. That's okay. That's how it is now. In relation to the disturbances in the global supply chains, I'm really happy that we're in such a good position anyway. The factory is also, as you know, hopefully all approved and ready to start construction in the middle of the autumn. That also looks really good. We've already actually started some activities there. That's also something that's going to come later this year. Both of these activities, the commercial activities and the factory one, we'll make sure to update you more about in the end of the year meeting. The information meeting at the end of the year that we usually have will be physically, or at least that's what I hope. I would love to meet you all again physically, and I know that many of you would like to meet us as well, where we can have a dynamic dialogue with questions and answers, and we can have some buns and sit together. Another important thing in our plan was the development of our new technical platform. The short version is, it's going according to plan. It's going really well. The main drivers for us developing this platform for all new shareholders who might not know, this will enable us to have significantly higher efficiency in certain areas. It will also enable us to have new colors, such as blue or green or red and so on. To do this, we had to build our own organic chemistry lab, which we did, and we have now started to employ a lot of super talented people, organic chemists, PhDs from all over the world, to work in the lab together with our head chemist to develop these things. It's going really well according to plan. The point is, with the higher efficiency and new colors, the total addressable market increases quite significantly. This is an important step for us, not only in terms of science, but from a business perspective, absolutely crucial. Our goal is to see this new technical platform in products on the shelf by the end of 2022. Let's talk about the new factory we're going to build. For all of you that haven't seen this or heard this before, we're building a new factory here in the Stockholm region. It's going to be approximately 10 times larger with regards to production capacity per year than the current one we have developed here. It's going to be fully automated and robotized and using the latest technologies for the most efficient and best factory you can ever dream of. I'm really proud of this. It's going according to plan. If you remember, it will be finished and up and running late 2022 or early 2023. Why are we building a new factory? Well, the three main reasons are, number one, general redundancy. With that, I mean we need to know that we can deliver on our multiple commercial contracts. One site is always riskier than having two. Number two, second reason, some customers actually demand this from us. They say, "You need to have two sites, otherwise you won't get a contract with us." That's also a good reason. Number three, we've already seen an increase in demand from our customers on Powerfoyle after the first two commercial launches. Foreseeing the future, we expect a huge increase in demand, so we need to plan for success. That's what we're doing now. I just want to add one more thing. I'm really super proud of this new factory because when I started Exeger, I was set out on a quest to build the new Swedish industry. I've said this multiple times, and I will keep on repeating it because it's important for me. Building this huge world-class factory in Stockholm is an important step. It's a milestone towards achieving that goal. I'm going to end this session by talking a little bit about our latest round of funding. We just closed another SEK 318 million to secure the execution of the company business plan. SEK 150 million of this comes from Mr. Ilya Barinov. A warm welcome to you as our latest shareholder. I'm really grateful that you believe in us and in our technology. We also borrowed money from Swedbank, SEK 100 million institutional money. We borrow SEK 68 million from SEK, Swedish government bank. Thank you also for supporting us in this venture. With this money secured, we'll be able to fund the new factory, phase I, and all our ongoing activities. We get a lot of questions about IPO. Should we take Exeger to a stock market? Well, the answer will be the same like it's been for years now. We will do whatever's best for the company, and thereby best for the shareholders. If it's best for us to be listed on a stock exchange, we can do that. If not, we'll wait. We're not against it. Thank you all for listening. I hope that you're excited as we are now for the new technical platform, the new factory, the two products already launched, and the new products coming later this year. We are totally stoked. Let's proceed to the Q&A. We really look forward to all your questions and look forward to seeing you physically at the meeting by the end of this year. Thank you.
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