EV Charging Infrastructure

October 2022
OUTLINE

EV Connect

Evolution

EVs in Romania

Installed Stations

Public Network

Competitors

Results

Development Plan
EV CONNECT
Leading Romanian EV charging stations provider

EV Connect is a Romanian company established in 2014 that evolved from

import and distribution of EV charging stations to become one of the main
independent Romanian electromobility suppliers.

Strong national presence, preferred supplier in Dacia

dealership network

Over 500 charging stations installed, over 5.200 active EV users as clients in
2021 (registered in app and charging at least once), over 10.000 EV charging
accounts registered.

Third largest network of EV charging stations in Romania after Renovatio and

Enel X.

ACCENDO
COMPANY’S EVOLUTION

2014 2017

ESTABLISHMENT NETWORK EXPANSION

EV Connect becomes one of the pioneers Increase of the number of stations, users
of electric vehicle charging in Romania and partners. Establishes the EV
infrastructure for VOX Technology Park
carsharing program

2015

FIRST CHARGING NETWORK

Begins collaboration with City of Sibiu,
Cora and Nepi Rockcastle network of
shopping malls

ACCENDO EV CONNECT 4
COMPANY’S EVOLUTION

2019

EXPANSION
Installs EV chargers in Timisoara Airport,
starts the installation of 21 DCFCs in Mol
petrol stations. The public network reaches
57 stations in total

2018 2020-2022

FIRST FAST CHARGER STRUCTURE

EV Connect installs in Cluj-Napoca the first EV Connect streamlines its operations by
public fast charger. Enters Iulius Mall launching apps (Android and iOS) and
network of malls in Timisoara, Cluj- management platform. Registered users
Napoca, Iasi and Suceava. grow, reaching 1x.000

ACCENDO EV CONNECT 5
ELECTRIC
VEHICLES
ELECTRIC VEHICLES IN ROMANIA
First modern electric vehicle (EV) registered in 2011

13000
12000
3480
10000

8000
6831

6000 2021
EV SALES
4000 3134
1747
2000
710 1051
32 104 247
0
1561
2015 2016 2017 2018 2019 2020 2021 2022f
318 421

Cumulative EV registered to date (as of October 2022) – over 22.000

Dacia and Renault VAG Hyundai Tesla others

ACCENDO EV CONNECT 7
EV CONNECT’S
INSTALLED
STATIONS
EV STATIONS
Examples of EV stations sold1; over 90% of the stations installed are one of these two types

DCFC - EVBOX TRONIQ 50 22KW AC – EVBOX BUSINESS LINE

• Up to 50 kW • One or two sockets / cables

• Up to 3 sockets / cables • One or two EVs charged simultaneously

• One or two EVs charged simultaneously • Type 2 connectors

• Triple connectors: type 2, CCS, CHAdeMO

1– more details online: https://www.evconnect.ro/produse

ACCENDO EV CONNECT 9
INSTALLED STATIONS
Most stations installed for municipalities and for Dacia-Renault

De actualizat

247

568 stations1 installed mainly for municipalities, automotive sector, retail, office
and gas stations.

223 of these (39%) are DC Fast Charging (DCFC)

140 DCFC stations (included in the figures mentioned above), to be installed in 54

108 communes and cities, are part of the AFM – Environment Fund Authority program.
73

1 – 156 in process of being installed (as of March 15, 2022). The figures do not
78
12 56 include low power EV stations sold to private clients and SMEs
26 31

Municipalities Dacia - Renault Malls / retail

Office Gas stations Other automotive
Residential Horeca Other

ACCENDO EV CONNECT 10
CLIENTS’ LOCATIONS
EV Connect’s installed charging stations

EV Connect’s network of installed stations covers all Top 10

largest cities in Romania and all of 9 counties with GDP/capita
above the national average of 11,623 EUR.

The company has the capacity to install in any area of the

country, directly or through subcontractors.

Counties where EV Connect already has clients are marked with

red on the map.

ACCENDO EV CONNECT 11
EV CONNECT’S
PUBLIC NETWORK
OPERATED NETWORK
Public charging stations accessible to EV owners via app

Operated stations Owned stations Stations by site

44
24
3 78
2
37
155

56 3

50 kW DC 22 kW AC 11 kW AC 50 kW DC 22 kW AC Retail Dacia BMW other

Part of the installed stations, 307 are accessible to the public in 106 locations (plus 7 offline and an additional 29 in
179 24 22
various test stages): 24x 50 kW, 155x 22 kW, 2x 11 kW, with a total of 358 charging sockets online

40 owned stations: 3x 50 kW DC and 37x 22kW AC with 54 sockets: 4x 50 kW DC and 50x 22kW AC

44 charging stations in retail areas – mainly shopping malls -, 78 in Dacia network, 3 in BMW and 56 in other publicly
accessible sites.

ACCENDO EV CONNECT 13
MANAGEMENT PLATFORM

EV Connect is building its own management platform and app,

but currently is using a third-party app to manage its network,
its users and generate activity statistics

Remote management of chargers

User management

Billing module

ACCENDO EV CONNECT 14
MOBILE APPS

EV Connect uses third party mobile apps on Android and iOS Over 17897 registered users (as of Oct, 2022)

platforms that allow clients access to charging points and

account management.
5229 active users in 2021

ANDROID In 2022 EV Connect developed its own management platform

current version 3.0.4, over 5000 installs
and applications for Android and iOS and will replace the third
party apps.

IOS
current version 3.0.3

ACCENDO EV CONNECT 15
CHARGES AND USERS
Increasing use of the public network managed by the company

AVERAGE CHARGE (kWh) GROWING PLATFORM

Over 14,000 users registered in EV Connect’s platform as of
March 2022. 5.229 unique active users (who charged at least
14,3 17,9 once) in 2021 and 2.810 in 2020

2021 5.229

2020 2.810

TOTAL ENERGY CHARGED ANNUALY (MWh)

2021 956,9

2020 148,8

2020 2021

ACCENDO EV CONNECT 16
RETAIL PRESENCE
EV Connect operates public EV stations in representative retail malls and retail chains

Satu Mare
Shopping City Suceava
Iulius Mall

Iasi
Iulius Mall
Palas Mall
Cluj-Napoca
Iulius Mall
Targu Mures
Shopping City
Bacau
Cora

Deva
Timișoara Shopping City
Iulius Mall Brasov
Shopping City C&A

Braila
Ramnicu Valcea Buzau Braila Mall
Targu Jiu Shopping City
Shopping City
Shopping City
Drobeta-Turnu Severin
Severin Shopping Center
Bucharest
AFI Cotroceni
Veranda Mall
Vulcan Value Center
Constanta
Cora Alexandriei Cora
Cora Pantelimon

ACCENDO EV CONNECT 17
MAIN
COMPETITORS
MAIN COMPETITORS
Top competitors at national level: specialized players, general electric parts distributors, energy companies

AXIONET IOT PROMELEK XXI EVGO GREEN MOTION ABI SOLUTIONS

https://polyfazer.ro/ https://promelek.ro/ https://evgo.ro/ https://www.e-mobility.ro/

E-MOTION ELECTRIC ENGIE E-XPLORE ENEL X EON DRIVE

https://e-motionelectric.ro/ https://www.engie.ro/e-xplore/ https://www.enelx.com/ro/en https://www.eondrive.ro/

ACCENDO EV CONNECT 19
MAIN COMPETITORS
Top specialized EV infrastructure players – ■ operating revenues and ■ net profit (kEUR)

700 160
600 140
120
500
100
Specialized in EV Specialized in EV
400 80
infrastructure infrastructure 60
300
40
200
20
100 0
0 -20 2016 2017 2018 2019 2020
2016 2017 2018 2019 2020 -40

50 700

40 600

30 500
Sells EV charging stations and Sells e-scooters, clothing, in
400
solar panels 20 addition to EV charging
300
10 stations
200
0
2016 2017 2018 2019 2020 100
-10 N/A
0
-20 2016 2017 2018 2019 2020

ACCENDO EV CONNECT 20
FINANCIAL
RESULTS
INCOME STATEMENT
Growing revenues, but limited contribution from EV charging fees

Operating revenues (kEUR), including EV stations distribution, installation and Revenue and profit (kEUR)
maintenance. Revenues from charging are marked with dark red.

2500 2100K
2,000
OPERATING REVENUES 2022F
2000
200.0
1,500

1500

1,000
1000

60.3 29.5 500

500
420K
2.4 NET PROFIT 2022F
0 0
2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022

ACCENDO EV CONNECT 22
INCOME STATEMENT 2017-22
EUR. Over 90% of the Operating Revenues are generated by sale of EV chargers and associated services (installation and maintenance)

2018 2019 2020 2021 2022f

Total Operating Revenues (euro) 161.822 317.231 753.236 781.324 2.100.000

Finished Goods Expenses 65.748 252.021 592.775 338.720 1.000.000

Personnel Expenses 3.261 8.822 18.077 24.812 36.000

Depreciation 0 1.754 2.475 2.542 4. 200

Third Party Services 15.19 31.218 66.204 59.893 72.000

Other Operating Expenses 2.097 3.873 18.486 22.991 34.000

Total Operating Expenses 86.295 297.688 698.018 448.958 1.146.200

Net Profit 73.388 17.039 46.519 298.305 420.000

2022 - forecast

ACCENDO EV CONNECT 23
DEVELOPMENT
PLAN
DEVELOPMENT PLAN
Strong demand at EU and national level

DEVELOPMENT BOOSTERS ELECTRIC UP

01 Government subsidies for SMEs and hospitality sector for solar
Increased demand for EV charging stations is expected as usage shifts from home
systems and EV charging stations
charging (accounting for about 75% in 2020) to public options when more people without
access to home charging solutions start buying electric vehicles (McKinsey & Company,
Charging ahead: Electric-vehicle infrastructure demand)
AFM
02 Environment Fund Authority grants for municipalities: 2.500 stations
The European Commission and 2019 Green Pact have estimated that the number of (22 kW)
charging points accessible to the public should increase from 118.000 in 2017 to 440.0001
in 2020 and around 1 million in 2025. Romania has slightly less than 3% of total number
PNRR
of vehicles in EU, hence the pro-rata number of EV charging points in Romania by 2025
03 National Recovery and Resilience Plan grants for municipalities for
should be around 30.000.
15.500 22 kW stations over the next 5 years
1 – The actual number of publicly accessible charging points in the EU-27 and the United
Kingdom increased from around 34.000 in 2014 to 250.000 in September 2020, below the
TOWN PLANNING REQUIREMENTS
440.000 charging points targeted. Of these 14% are DCFC (i.e. with a rated power higher 04 10% of all new or refurbished parking lots (in retail, office and
than 22 kW).
residential buildings) must have EV charging stations installed

ACCENDO EV CONNECT 25
DEVELOPMENT PLAN
While the whole country is covered, focus falls on large developed regions and cities

Target counties with GDP per capita above the national average of 11.623 EUR Focus on top 10 cities in terms of resident population (2011 census. thousand
(2019 data) inhabitants)

35000 2000
1800 1883
30000
30363 1600
25000 1400
1200
20000
1000
15000 800
15778
14767
13414 600
10000 12551 12474 12455 12436 11783
400
5000 200 325 319 290 284 270 253 249 210 196
0
0

ACCENDO EV CONNECT 26
DEVELOPMENT PLAN
Short and medium term prospects: revenues in excess of 12 million EUR

REVENUES FROM SHORT-TERM PROJECTS

ELECTRIC UP
01 EV Connect won 150 Electric Up projects from the first session Electric Up and AFM grants finance the acquisition and installation of 22 kW charging
(second session to be opened in 2023) stations. Each AC station is sold at a price of 22.000 EUR (+VAT), with a total number of
stations of 150 +74x3 = 372. Total selling price 8,18 million EUR.
AFM
02 Electric Up projects carry a 5-year management contract for a price of 1.800 EUR each, a
220 DCFC (50 kW) stations; additional over 200 AC (22kW) stations
total of 270.000 EUR over 5 years.
for 74 municipalities
Arad local transport company CTP contracted 10 DCFC stations

PARTNERSHIPS Prima Residence contracted 100 stations, while other partners in advanced negotiations
03 • Dacia, Nisan, Volvo - target 3.000 stations (Vodafone, Profi, AFI, etc) are expected to generate at least 300.000 EUR in revenues

• ProCredit Bank – stations on clients’ premises

• Autonom Group – long-term partnership

• Prima Residence – contracted 100 EV stations

• Vodafone, Profi, AFI in advanced discussions

ACCENDO EV CONNECT 27
DEVELOPMENT PLAN
2,5 million EUR investment plan over the next 2 years

Most of the 2,5 million EUR investment are earmarked for working capital needs: Expected operating revenues (kEUR) with a 2 million EUR equity investment made in
financing the purchase and installation of 22 kW (stations in AFM and PNRR are Q2 2023
exclusively of this kind) and DCFC charging stations, with up to 0,5 million EUR for
7700
increase in the number of publicly-accessible stations owned by EV Connect.

Sources of capital:

• 2,0 million EUR equity investment

4800
• 0,5 million EUR retained earnings

2100

781

2021 2022 2023 2024

ACCENDO EV CONNECT 28