Ascotway Ltd.

$[●] Equity Raise

Preliminary Summary of Terms and Conditions
[February 23, 2024]
The following is a summary of the preliminary terms and conditions (“Term Sheet”) for a proposed equity raise (the
“Equity Raise”). This Term Sheet is not intended to be a definitive agreement on all the terms of the Equity Raise,
and such terms and any obligation of the parties with respect to the Equity Raise are subject to the completion of
business, financial and legal due diligence and the negotiation and execution of the definitive documents for the
Equity Raise. This Term Sheet does not represent or constitute any commitment to arrange or provide any financing
to, or on behalf of, Ascotway Ltd. (“Ascotway”) or any affiliates thereof. Notwithstanding anything to the contrary
herein, the parties acknowledge and agree that their respective agreements set forth below under the headings “Legal
Fees”, “Exclusivity” and “Governing Law” are intended to be, and are, binding and enforceable agreements of the
parties with respect to the matters set forth therein and shall survive the termination or expiration of this agreement.
Issuer: Ascotway Ltd., a company incorporated in Ireland trading as EcoModular Pte Ltd.
Business Combination: The Business Combination by and among (i) Ascotway Ltd., (ii) JSA Holdings AG, a
company incorporated in Switzerland, (iii) Ecohouse Developments Limited, a private
limited company incorporated in Ireland, and (iv) Zalatoris II Acquisition Corp., a
Cayman Islands exempted company.
A description of the proposed Business Combination and a copy of the
applicable business combination agreement is available at the website of the U.S.
Securities and Exchange Commission (the “SEC”) www.sec.gov.
Investor(s): Addressed to Professional and Well-Informed Investors only (each an “Investor”).
Professional Investor - means an investor who qualifies as a professional client, or who
may request to be treated as a professional client within the meaning of Annex II of the
Investment Services and Activities and Regulated Markets Law of 2017 (as amended).

Well-informed investor - means an Investor who is not a Professional Investor and

fulfils the following conditions:
​
(a) the investor states in writing that: (i) he either has sufficient knowledge and
experience in financial and business matters in order to be able to assess the benefits
and risks associated with the proposed investment, and is aware of the risks associated
with the proposed investment; or (ii) his business is related to the management,
acquisition or sale of assets, either for its own account or on behalf of third parties of
the same type as the proposed investment; and (b) (i) either his investment in the
proposed investment amounts to at least one hundred and twenty-five thousand euros
(€125.000); or (ii) it has been assessed as a sufficiently well-informed investor by a
credit institution, an AIFM, a UCITS Management Company, an Investment Firm all
within the meaning provided in the AIF Law, or any alternative investment funds
(AIFs) manager authorized by the Republic of Cyprus or another EU Member State
and from the above assessment of the proposed investment it appears that he has
sufficient knowledge and experience in financial and business issues in order to assess
the benefits and risks associated with the proposed investment; or (iii) he is employed
by any of the persons referred to in point (b) (ii) as an employee who receives a total
remuneration within the same salary scale as the natural persons who effectively carry
out one of the business activities of the person referred to in (ii) of paragraph (b), or the
executive members of the Board of Directors who effectively carry out one of the
business activities; or (c) irrespective of paragraphs (a) and (b), the investor is a person
Confidential – Preliminary Summary of Terms and Conditions
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 who effectively directs the activities of the proposed investment or is a person who
manages the investments of that particular proposed investment.

Offering: [●] Ordinary Shares of Ascotway Ltd.

Equity Raise Date: Expected to occur [●] days after execution of this Term Sheet.
Warrants: Issuer will issue Investor warrants as follows:
1. Coverage: 100% (i.e. 100% of common shares the funded convertible notes
are convertible into).
2. Exercise Price: $11.50.
3. Exercise Period: 10 years.
4. Anti-Dilution Protection: The Investor Warrants shall have anti-dilution
protection on the price and quantity with respect to future equity offerings
of Ascotway Ltd.
5. Exercise: Cash exercise once the shares underlying the warrants (the
“Warrant Shares”) are registered, and either cash or cashless exercise prior
to registration. In the event the Warrant Shares are not registered within 9
months, warrant holders have the option to cashless exercise each warrant
for 0.9 Common Shares.
Certain Documentation The definitive documents shall include usual and customary provisions for transactions
Matters: of this type, including, but without limitation, representations and warranties,
affirmative covenants, negative covenants, financial covenants (including minimum
liquidity and/or revenue), closing conditions, and events of default.
ELOC Restriction: Issuer may not utilize an ELOC for a period of 9 months following the closing of the
Business Combination.
[Participation Rights: For 2 years, Investor has the right to co-invest for any of Issuer’s future financing deals
on the same terms with other investors on a pro-rata basis based on the number of
shares of common stock held by Investor to the total number of shares of outstanding
common stock of Issuer after giving effect to the Business Combination.]
Registration Rights: To the extent the Investor does not receive free trading shares on the date of the
Business Combination, customary demand and piggyback registration rights.
Lock-Up: Existing shareholders of the Issuer shall be subject to 6-month lock-up agreements
beginning from the closing of the Business Combination, subject to certain carveouts to
satisfy regulatory and Nasdaq requirements. Issuer shall negotiate to make as many of
Investor’s shares not subject to the lock-up as possible.
Legal Fees: The Issuer shall reimburse the Investor for all of Investor’s reasonable and documented
out-of-pocket legal and diligence fees and expenses incurred in connection with the
Equity Raise (the “Transaction Fees”), irrespective of whether or not the closing
occurs. Outstanding Transaction Fees shall be paid in full at the time of execution of
the definitive documents. Notwithstanding anything to the contrary contained herein,
this section “Legal Fees” shall be binding.
Governing Law: New York.
Exclusivity: [45] days.

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Expiration: This Term Sheet shall expire [7] days following the date first listed above unless first
executed and delivered by the parties.

IN WITNESS WHEREOF, the parties hereto have executed this Preliminary Summary of Terms and Conditions as
of the day of __________, 2023.

INVESTOR:

By:___________________________________

Name:
Title:

ASCOTWAY LTD:

By:___________________________________

Name:
Title:

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ECO MODULAR
www.ecomodular.com
 Background
ECO MODULAR WE OWN AND OPERATE: ECOHOUSE DEVELOPMENTS

Eco Modular, combining its established business with Ecohouse Ecohouse has successfully sold over 7,000 ADU (Accessory
Developments, a pioneering force in the modular construction Dwelling Units) since their inception in 2007.
sector. Here are the key facts;

In its current phase, Eco Modular is achieving remarkable
success. The company's short-term strategy involves doubling
production capacity, expanding showrooms, and intensifying
sales efforts to achieve a goal of over 500 units a month in the UK
and Europe. Eco Modular's M&A strategy in the UK aims to
enhance its market presence and customer base for Accessory
Dwelling Units.
• This year, we are projecting an impressive revenue of 20
million for ADU.
• 2 Factories in Eastern Europe, specializing in Loghouse and
Ecohouse production.
• 6 showrooms in UK and Europe for customer sales.
• 2 warehouses with assembly plants for efficient stock
management.
• Central office, supported by a dedicated team of over 200
staff, serves as the hub for operations.

EXPANSION AND NASDAQ LISTING

We are expanding sales in the UK, with the aim to double revenue over the next 6-12 months along with going public on NASDAQ in
2024 to access additional capital to build a third factory in Eastern Europe to cover larger modular building developments in UK,
Europe, Middle East and Africa (EMEA).

Page 2 ECO MODULAR - Q4 2023

 WHAT OUR CUSTOMERS SAY:

Page 3 ECO MODULAR - Q4 2023

 $600M Listing on NASDAQ
STRATEGIC PARTNERSHIP:

Ecohouse Developments is on the verge of a game changing transformation through

a $600M Initial Public Offering (IPO) via a de-SPAC merger with Zalatoris II Acquisition
Corp on the NASDAQ Stock Exchange.

MILESTONES ACHIEVED:

Key milestones such as the completion of the Letter of Intent, Legal Due Diligence,
and securing a Third-Party Fairness Opinion showcase the meticulous approach taken.
The Business Combination Agreement is signed and announced, and we are actively
progressing through the PCAOB audit and F4 filing, required by the Securities and
Exchange Commission (SEC)in the United States.

REGULATORY COMPLIANCE:

Anticipated SEC approval post F4 filing is the next step in this journey, with the de-
SPAC merger completion expected to follow shortly thereafter, unlocking new
avenues for growth and investment.

Page 4 ECO MODULAR - Q4 2023


STRATEGIC LOCATION:
The New Giga Factory is strategically
located in a Free Zone in Klapedia,
Lithuania, offering attractive tax
incentives that contribute to our
overall cost-effectiveness.
Page 6 ECO MODULAR - Q4 2023
NEW GIGA FACTORY
LAND SECURED AND COMPLETE
ACQUISITION:
We have secured prime land, and the
complete acquisition process ensures
a solid foundation for the
development of the New Giga
Factory.
COMPREHENSIVE DEVELOPMENT
PHASES:
From planning permissions and
construction to the procurement of
machinery, assembly setup, and
eventual operations, each phase is
carefully orchestrated to ensure the
New Giga Factory becomes a
cornerstone of innovation and
efficiency.
 Our Super System Technology for the NEW GIGA FACTORY

INTEGRATION OVERVIEW:
AIRTIGHT PRECISION:
• Streamlined Production: The patent-pending prototype is actively in production, ensuring a smooth
and efficient integration process. • Precision-engineered airtightness ensures controlled environments.
• Certification Assurance: Tested and certified in the UK, the quantum system meets rigorous • Reduces energy waste and maintains optimal conditions within the factory.
standards, guaranteeing reliability in every facet of your factory.

KEY FEATURES AND BENEFITS: INNOVATIVE WALL DESIGN:

• Optimized Thermal Control: • Thinner Profile:

• Enhanced temperature regulation for improved operational efficiency. • Maximizes usable space within the factory.
• Energy cost savings through advanced thermal heat management. • Enables flexible layout configurations to adapt to evolving operational needs.

SUPERIOR SOUNDPROOFING: INCREASED STRENGTH:

• Mitigates noise pollution, creating a conducive work environment. • Modern materials enhance structural strength, ensuring durability.
• Boosts employee productivity and well-being. • Long-lasting walls that withstand the demands of industrial operations.

FIRE REGULATION COMPLIANCE: ACCELERATED CONSTRUCTION:

• Meets and exceeds fire safety regulations, prioritizing employee safety. • Faster construction timelines contribute to quicker factory readiness.
• Minimizes potential damages, ensuring business continuity. • Minimizes disruptions, allowing your operations to commence promptly.

STRUCTURAL EXCELLENCE:

• Utilizes modern materials for walls that are not only thinner but exceptionally robust.
• Enhances overall structural integrity, contributing to long-term facility stability.

Page 7 ECO MODULAR - Q4 2023

 M&A STRATEGY
STRATEGIC GROWTH IN THE UK:
Our M&A strategy in the UK focuses on driving sales growth for Accessory
Dwelling Units. Acquiring existing businesses with established production
capabilities’ customer bases and marketing and branding allowing us to grow
by acquisition.

LOCAL MANAGEMENT INTEGRATION:

Retaining existing teams and local management ensures a seamless transition
and allows the acquired businesses to continue their operations while benefiting
from our broader resources.

CAPACITY EXPANSION IN EASTERN EUROPE:

Expanding our capacity in Eastern Europe is a crucial component of our
strategy, enabling us to supply the growing demand for ADUs resulting from the
acquisitions.

REVENUE GOAL:
Our ambitious goal is to supply 2,000 ADUs per annum translating up to 100M per
annum sales.

Page 8 ECO MODULAR - Q4 2023

 The Opportunity

Due to unprecedented population growth, buildings will double around the 400
$373.00 B
world over next 30 years.
350
The world’s population is projected to reach 8.5 billion in 2030 coupled with
unmet housing demand and relatively scarce construction labor which in turn 300
drives up wages and costs are the biggest predictors of where modular
construction can gain momentum.
250 $229.4 B
The modular construction market size will be valued at $229.4 billion in 2023 and
is expected to grow at a compound annual growth rate (CAGR) of 7.1 % over 200
the forecast period. (Modular Construction Market Size, 2020 - 2030) (ADD THE
SOURCE) 150

100
Market Size (2023) $229.4 billion
50
Market Size (2030) $373.0 billion
0
Market Size (2023) Market Size (2030)

https://www.globaldata.com/store/report/modular-construction-market-analysis/

Page 9 ECO MODULAR - Q4 2023

 Market Verticals

Hotel Residential Education Accessory Dwelling Units (ADU) Student Accommodation

Hospital NHS Retail Temporary Accommodation Commercial

Page 10 ECO MODULAR - Q4 2023

 Eco Modular Executive Management Team

Edvinas Cinga, Founder and Chief Executive Officer:

• Founder of Eco House Developments Limited & Eco Modular

• Passion for environmentally conscious and sustainable living
• Extensive background in diverse construction projects
• Mission to create innovative, energy-efficient, and environmentally friendly homes
• Leadership in setting new standards for eco-conscious development
• Use of cutting-edge technologies, renewable energy systems, and sustainable materials
• Active promotion of environmental awareness and advocacy for responsible construction practices
• Recognized for contributions to sustainable development, inspiring both business and environmental
communities

Page 11 ECO MODULAR - Q4 2023

 Executive Management Team
Terry Hutt, Director & Chief Architect:
• Terry is on the Board of Directors of Ecohouse Developments
(www.ecomodular.com), joining the company in 2015. His remit as a
member of the leadership team leverages from his architectural design
and operational expertise, plus he oversees the finance, administration,
HR & legal functions.
• Mr. Hutt was a member of the Canadian Armed Forces (Militia Force)
for sixteen years (1982 to 1998).
• After leaving the military, Mr. Hutt works in the construction sector in
professional architectural design, engineering, and project
management for his customers and clients. He brings his Eco-friendly,
future-proofing ethos to the commercial and domestic structures
delivered.
• Mr. Hutt was awarded a Master of Architecture (M.Arch) from TUNS
(Technical University of Nova Scotia, Canada) in 1988.
• Mr. Hutt, a native of Canada, moved to Ireland in 2004 and has lived
and worked there ever since.
Sameer Dababneh, Director of Sales and Strategy:
• Seasoned industry veteran with over 20 years of experience
• Held leading roles in global companies in real estate, banking,
investment, and aviation sectors
• Proven track record in successful partnerships
• Strong analytical and operational skills
• Highly accomplished corporate professional with extensive insight into the
Middle East market
• Specializes in developing key partnerships and possesses profound
knowledge of growth strategies in the US, UK, and Arabian Gulf
• Boasts an extensive portfolio of ultra-high net worth individuals and Royals
• Born and raised in the UAE, established footprint in the industry through
global travels
• Holds a degree in business administration
Page 12 ECO MODULAR - Q4 2023
Vyga Dambrauskas, General Manager:
• Worked in multiple industries, including enterprise retail and the construction sector
• Held responsibilities for companies with multiple millions in revenues
• Proven track record of success
• Highly versatile in adapting to different industries
• Demonstrated ability to drive change in high-growth organizations
• Contributed to increased operational efficiencies and profitability
Niall Shanahan, Corporate Director:
• Commercial property specialist with a BSc in Property Economics
• Over 30 years of experience in multiple industries, including Commercial Real Estate and
Foreign Direct Investment sectors
• Served as owner's representative for numerous Fortune 500 companies, facilitating their
establishment in Ireland and Europe
• Holds a director and partner position at EnigmaSoft, a cybersecurity anti-virus SaaS
company
• Acts as a non-executive director for several technology companies
Conor Patton, Corporate Director:
• Wealth of international experience in M&A, Capital Markets, and Capital Raising
• Specializes in various sectors, including Real Estate and Technology
• Valuable asset to the team
• Direct and formal approach with a focus on investor relations, deal origination,
execution, and management
• Unparalleled knowledge of Private and Public markets
• Strong reputation in the industry
• Well-connected network of clients and partners across Europe and the Middle
East
• Success in raising over $30 million and executing capital market deals worth over
$200 million
 Zalatoris II Board of Directors
Paul Davis, Chief Executive Officer:
• Chief Operations Officer of the Acquirer, a global financial services company, since January •
2019
• Previously served as Managing Director of Black Swan Data Ltd, a London-based technology •
and data science company
• Led Black Swan Edge Ltd as Chief Executive Officer from December 2013 to March 2018
• Specialized in raising capital via structured products for small and medium-sized enterprises,
institutions, and corporations across Europe, America, and Asia
• Under Mr. Davis' leadership, Black Swan Edge Ltd experienced significant growth and success, •
leading to its sale in March 2018
• Served as Business Development Manager of DVV Media Group GmbH from July 2007 to
December 2013, following the acquisition of part of the Reed Business Information Ltd portfolio •
• Previously a sales manager at Reed Business Information Ltd from 2004 to 2007, now part of
LexisNexis Risk Solutions, Inc., a subsidiary of RELX PLC (NYSE: RELX) (formerly Reed Elsevier Group•
PLC)
Adeel Rouf:
Mr. Rouf, experienced in investment banking, capital markets, and M&A
• Involved in six SPAC transactions
Current COO of Northern Revival Acquisition Corp. (Nasdaq: NRAC, NRACU) since 2023
• Founder, CFO, and Advisor to a SPAC merging with Rubicon Technologies, Inc. (Nasdaq: RBT,
RBTWT) (NYSE: RBT) from April 2021 to December 2022
• SVP of Altitude Acquisition Corp. (Nasdaq: ALTU, ALTUW) from June 2020 to January 2023
• Involvement with Investcorp India Acquisition Corp. (Nasdaq: IVCA)
Previous roles at FinTech Acquisition Corp. III (merged with Paya, Inc. - Nasdaq: PAYA) and
Insurance Acquisition Corp. I (merged with Shift Technologies, Inc. - Nasdaq: SFT) from April
2019 to June 2020
Past experience includes J.P. Morgan Chase & Co.'s investment banking leveraged finance
team from June 2017 to May 2019
Associate on Sumitomo Mitsui Banking Corporation's finance team executing structured debt
finance transactions from March 2015 to June 2017

Llewellyn Farquharson, Chief Financial Officer: Mr. Demetris Demitriou:

• Over 30 years of knowledge gained in international
business
• Began professional career with Price Waterhouse
(PwC)
• Spent 11 years with PwC in audit and advisory
services
• Invited by a client to join telecoms start-up
company Jinny Software as hire #5
• Board member at Jinny Software, contributing to
year-over-year growth in revenue, profit, and
customer base
• Successfully managed the due diligence sale and
post-sale activities
• Orchestrated a cash trade sale of Jinny Software to
a North American PLC in 2014
• Currently collaborates with like-minded
entrepreneurs, leveraging broad expertise to assist
ambitious enterprise owners in achieving personal
and corporate goals in the global market space
• Highly accomplished Fellow Certified Chartered
Accountant with over 40 years of experience in Audit,
Tax, and Consulting
• Founding Partner of DFK Demetriou Trapezaris and
Managing Director of Demetriou & Associates Business
Advisers
• Demonstrated exceptional expertise and leadership
• Elected President of DFK International in 2014, now
holds the esteemed position of Lifetime President
• Active contributor to the Institute of Certified Public
Accountants (ICPAC) of Cyprus
• Holds significant roles within the organization
• Approved licensed insolvency practitioner with a
background in prestigious Big 4 Accounting firms
• Currently serves on the Board of Directors of a major
Construction Company, providing strategic insights
and financial expertise
• Well-suited for the role of Non-Executive Director,
offering valuable experience and a deep
understanding of financial matters to the board
Mr. Vik Mittel:
• Managing Member and Chief Investment Officer of Meteora
Capital, LLC, specializing in SPAC-related investments
• Over 18 years on the buy side, deploying capital across event-
driven investment strategies
• Former investment professional and partner at Glazer Capital, LLC
("GCM"), with a focus on mid-market M&A and private
placements
• Part of the founding team that launched Raymond James’ TMT
investment banking practice in Palo Alto, CA in 2002
• Holds a B.S. in Finance from the University of Florida (summa cum
laude) and an MBA from NYU Stern School of Business, also a CFA
holder
• Meteora Capital, an SEC registered investment adviser, manages
funds across the SPAC ecosystem with diverse sector experience
• Principals have a history of investing in SPACs since 2009, providing
resources to streamline the business combination process
• Access to a robust pipeline of potential acquisition candidates
from private equity and venture capital-backed companies

Page 13 ECO MODULAR - Q4 2023

 The New Giga Factory
Location
6.7 kms from the port of Klaipeda and 7.2 kms to
Klaipeda rail head.

Google Map Link:

https://maps.app.goo.gl/MFsWcRwEZTs7Vwgu8

Market Reach
UK, Europe, Middle East and Africa (EMEA)

Timelines
2024 Secure Land and Complete Construction
2025 Commence Giga Factory Operations
2026 Operating at Full Capacity

Eco Modular is on the way to becoming one of Europe's leading suppliers of Modular buildings.

Page 14 ECO MODULAR - Q4 2023

 Export Markets

Markets
UK, Europe, Middle East and Africa (EMEA)

Target
3 factories in 3 continents

Output Capacity
Starting from 120,000 sqm per annum

Number of Factories
2 factories by Year 3
3 factories by Year 5

Page 15 ECO MODULAR - Q4 2023

 New Giga Factory Infrastructure

15 minutes to the largest Baltic

Direct railway Link
Part

Dozens of transport and

25 minutes to the Airport
logistics companies on the site

Daily public transport Car sharing

Direct motorway link 5G internet

Page 16 ECO MODULAR - Q4 2023

 New Giga Factory Key Data

Land & Building Production Capacity

● Proposed Location; Klaipeda Free ● Production Capacity per Annum will be

Economic Zone. approx. 180,000 to 200,000 sqm.
● Total Site Area is 10 Hectares or 24.7 Acres.
● Manufacturing Facility will be 25,000 sqm /
269,100 sqft.
● Global Expansion planned for the Middle
East, India, and Canada.

ISO Certifications Carbon Net Zero

● - ISO 9000 - Quality management ● - ISO 9000 - Quality management

● - ISO 14000 - Carbon footprint ● - ISO 14000 - Carbon footprint
● - ISO 31000 - Risk management ● - ISO 31000 - Risk management
● - ISO 26000 – Social responsibility ● - ISO 26000 – Social responsibility

Page 17 ECO MODULAR - Q4 2023

 TRADITIONAL GLOBAL CONSTRUCTION PROBLEMS

RELIANCE ON TOO MANY

TIME COST OVERRUN POOR QUALITY + FINISHING ENVIRONMENTAL ISSUES
TRADERS + EXPERTS

Page 18 ECO MODULAR - Q4 2023

 ECO MODULAR CONSTRUCTION SOLUTIONS
Speed – up to 70% time saving due to production in a
dry, factory- controlled environment, and then
transporting of the complete building parts to a fully
prepared site, for a faster return on your investment.
High-rise building based on a durable, reliable and life
lasting steel frame.
Permanent or relocatable building solutions using
modular design concept.
Less noise and disruption, cleaner and safer
construction site.
Cost effective and precise time planning due to minor
impact of weather-related delays or site-based
manpower shortage.
Further development possibilities – modular buildings
can easily be expanded, reduced, reconfigured or even
relocated to meet your
changing needs.
Reduced construction waste
Page 19 ECO MODULAR - Q4 2023
Extensive design flexibility – wide range of façade
cladding, roofing and glazing options.
Less disturbing impact on the environment – less
traffic from and on the construction site, as result
transport-related emissions and disruption is reduced.
Reduced risks of accidents and related liabilities for
workers – construction is done in a controlled, indoor
environment.
Flexible interior design options - using a load bearing
post system.
Sustainability, durability and effective - improved
thermal performance due to perfect sealing conditions,
less waste, wide range of GREEN design options, less
interruption for surrounding and existing buildings, high
quality, CE marked materials and internal finishing.
Non-combustible and mold resistant.
Reduced site expenses - removing up to 80% of the
building construction activity from the site location.
Offsite Construction - Turn-Key Solution
OFFSITE MANUFACTURING
Manufacturing of the superstructure
in a semiautomated straight line
production line like a car assembly
line ensuring 24/7 production
LOW CLIMATE FOOTPRINT
Manufacturing significantly reduces
wastage, energy and water
consumption
Page 20 ECO MODULAR - Q4 2023
QUALITY ASSURANCE
Quality check at every stage of
manufacturing to achieve very high
quality
VERTICALLY INTEGRATED SYSTEM
Prefabricated prefinished volumetric
modular constructions
01
CONCEPTUALIZATION AND
DESIGN
Interaction between the client’s
architect and the design team of the
company to understand the client’s
requirement and finalise the Modular
design
04
OFFSITE MODULE MANUFACTURING &
ONSITE FOUNDATION
The manufacturing department
prepares a plan to manufacture the
modules. Modules are manufactured on
a rolling production line and are sealed
and stored in the factory premise for
transport. At the site, the production of
ground, civil works and construction of
foundation are carried out whilst the
modules are being manufactured at
the factory.
Eco Modular Process
02
COST ESTIMATION
The estimation team prepares a
detailed estimate of the modular
design finalised during the
conceptualization and design state.
05
MODULE TRANSPORTATION AND
INSTALLATION
The modules are transported to the site
and insta led using cranes and external
cladding of the property is carried out
asper the requirement of the client. The
finishing team carries out finishing work
such as joining, installing carpets, paint
touching, etc.
03
STRUCTURAL ENGINEERING
Structural engineering team prepares
the structural designs prior to finalizing
the
building is broken down into several
modules each representing a three-
dimensional part.
06
FINISHING AND HANDOVER
Then, the site is handed over after
inspection of the property by the client
and after signing handover certificate
signed by both the client and the
company.
 E.S.G Investment
Carbon Net Zero

Measure Mitigate Offset

Calculate the footprint accurately Reduce the footprint through the Offset remaining emissions through
and conservatively use of new materials and tech third party certified offset
programmes

Page 21 ECO MODULAR - Q4 2023

 Competitors

Company Name Ticker Website Stock Price (21/11/2023) Market Cap ($M)

https://ir.skylinechampion.com/overvi
Skyline Champion Corporation SKY $ 59.46 $ 3,420.00
ew/default.aspx

McGrath RentCorp MGRC https://www.mgrc.com $ 99.18 $ 2,430.00

Cavco Industries, Inc. CVCO https://www.cavco.com $282.33 $ 2,350.00

Patrick Industries, Inc. PATK https://www.patrickind.com $ 84.48 $ 1,870.00

Fluor Corporation FLR https://www.fluor.com $ 38.23 $ 6,500.00

WillScot Mobile Mini Holdings Corp. WSC https://www.willscotmobilemini.com $ 38.00 $ 7,280.00

Skanska AB SKBSY https://www.skanska.com $163.95 $ 65,610.00

Art's-Way Manufactuing Co., Inc. ARTW https://artsway-mfg.com $ 2.04 $ 10.22

James Hardie Industries plc JHX https://www.jameshardie.co.uk $ 32.03 $ 13,085.00

UFP Industries, Inc. UFPI https://www.ufpi.com $109.92 $ 6,790.00

Page 22 ECO MODULAR - Q4 2023

 MODULEX COMPARISON
REVENUE AND OPERATIONS:
Modulex: Currently operating with zero revenue, Eco Modular has a robust revenue stream of €20m, selling over 7,000 Accessory Dwelling Units.

GEOGRAPHIC PRESENCE:
Modulex: Primarily focused on the UK, Eco Modular has a diversified international presence with showrooms in Ireland, the UK, and manufacturing facilities in Lithuania.

CONTRACTS AND NEGOTIATIONS:

Modulex: Holds a £75m order in the UK, while Eco Modular is actively negotiating approximately £100m worth of contracts in the UK and Middle East with exclusive
manufacturing partnerships.

MANUFACTURING CAPABILITIES:
Modulex: Building its first manufacturing facility in India, Eco Modular already operates two manufacturing facilities in Lithuania, showcasing an established production
infrastructure.

FINANCIAL VALUATION:
Modulex: Going public via a SPAC merger with a valuation of $600m USD, aligning with Eco Modular in terms of market capitalization.

MARKET FOCUS:
Modulex: Initial focus on the UK market, while Eco Modular has a diversified market approach with contracts in the UK and the Middle East.

STRATEGIC PARTNERSHIPS:
Modulex: No specific information provided, whereas Eco Modular has an exclusive partnership for £100m worth of contracts, highlighting strong collaborative initiatives.

In conclusion, while both Modulex and Eco Modular share a $600m USD valuation through SPAC mergers, Eco Modular stands out with its established revenue, diversified international
operations, ongoing contract negotiations, and strategic partnerships. The comprehensive analysis emphasizes Eco Modular's strengths, positioning it as a robust player in the modular
construction industry.

Page 23 ECO MODULAR - Q4 2023

 High Level Financials + Shipping

Page 24 ECO MODULAR - Q4 2023


Short Term
Increase Rev of ADU Business from 15 million
to 18 million in Ireland.
M&A strategy: Two ADU businesses in UK
adding 20 million in revenue.
Sign up 50-75 million worth of contracts in
UK on Student Accommodation, Social
Housing, Residential Apartments and
Holiday Parks.
Complete De SPAC Merger with Zalatoris II
Acquisition Corp.
Complete Land Acquisition and Planning
Phase on New Giga Factory Location.
Page 25 ECO MODULAR - Q4 2023
Business Plan
Medium Term
Completion of Third Factory in Eastern
Europe, capacity of 120,000 Sq Mt per
annum.
Expand existing capacity of ADU Factories
to 160,000 Sq Mt per annum.
Execute a total of 250 million worth of
volumetric modular contracts in the UK,
EMEA and India.
Acquire land and begin planning phases
for our Forth Factory in Middle East.
Grow market cap to 1 billion in value and
over 250 million of revenue.
Long Term
Become one of the largest producers of
modular buildings worldwide.
Revenue of 400 million per annum.
Secure long term government backed
contacts.
Acquire land and begin planning phases
with Indian partner develop our Sixth
Factory.
Own and Operate Three Giga Factories
worldwide.
Supply over 1 million Sq Mt of modular
building through out the world.
 Revenue Drivers

Lease + Model UK HOUSING BODY

UK STUDENT APARTMENT BLOCKS

LOG HOUSE UK Eco Modular TEMPORY ACCOMMODATIOM IRELAND, UK

LOG HOUSE IRE TEMPORY ACCOMMODATION MIDDLE EAST

SCHOOLS GOVERNMENT CONTRACT MIDDLE

NHS GOVERNMENT BACKED CONTRACTS
EAST

Page 26 ECO MODULAR - Q4 2023

 Welcome to the next
chapter of Eco Modular

"Assemble Dreams, Construct Sustainability

– Eco Modular."

Page 27 ECO MODULAR - Q4 2023