Investor Presentation
As of May 2024

OURMISSIONOUR
VISIONDESIGN, SELL & OPERATE SIMPLE,AFFORDABLE & SUSTAINABLE
DRIVERLESS FORKLIFTS, SYSTEMS &SERVICES GLOBALLYENABLE COMPANIES TO
FOCUS ON HUMANSOUR VALUESTURN COMPLEX PROBLEMSINTO SIMPLE SOLUTIONS
2TRY FAST, FAIL FAST
TRY AGAINTAKE RISKS TO
CHALLENGE STATUS QUOWE TRUST EACH OTHERONE OF THE FEW TRULY GLOBAL MOBILE ROBOTICS PLAYERS

Founded in 2006, listed on EURONEXT since 2017, 160+ FTE
Mobile robots & Software developments
HQ & Logistics Center in Paris, subsidiaries in Boston, US & Singapore
Industrial partnerships with two OEMs (KION & HYG),
Distribution with integrators (KORBER, ULMA,…) &Global Direct Sales
HQ, Osmose Building, Arcueil, France3

CONVERT PALLET MOVEMENT TO AUTONOMYLARGEST MARKET WHERE AUTONOMY IS BECOMING REALITY

5+ million

Forklifts deployed around the world€50+ billion

Annual global expenditures on material handling

80%+Of forklifts operating costs related to driver costs€200+ billion

Annual global expenditures on pallet handling$380 million

Estimated annual expenditures on material handling of a major client

Still less than 1% of pallets moved today by robots ! Company estimates
43 REGIONAL HQ & GLOBAL FOOTPRINT
WAREHOUSING & MANUFACTURING EXPERIENCE: 1,000+ ROBOTS, 300+ SITES, 30 COUNTRIES

HQ, Paris
HQ, Boston

AMERICAS

EMEA

APAC
HQ, Singapore

Offices & Teams
Robots in operation

5Melbourne

ROBOT RANGECONSISTENT PRODUCT RANGE TO ADDRESS MOST WAREHOUSING APPLICATIONS

TUGGY

6LOWY

CB LOWY

LOWY HLCB LOWY HLREACHYVEENY

ROBOTS TRACTOR, STACKER& CB-STACKER “LOW-LIFT”

ROBOTS STACKER& CB-STACKER “MIDDLE-LIFT”

ROBOTS REACH & VNA :REACHY IN 2,9 M AISLES AND VEENY UP TO 17 M

Transports floor to floor

Transports <4 mHigh-bay storage

BLUE CHIP USER BASE
EXPERIENCE WORKING WITH THE MOST DEMANDING PARTNERS & CLIENTS GLOBALLY

7

OUR TECHNOLOGYHIGHER, SIMPLER, QUICKER & MORE INTELLIGENT“Product of the year” in 2021 & 2022
by German magazine “Materialfluss”
BALYO’s Robotic-as-a-Service to implement
mobile robots with minimal investment andpay “per pallet moved”

Further technical customer benefits: control& monitoring for the robot fleet 24/7 via
remote access, etc.
VNA reaching world-record height of 17m

Strategic supplier agreementwith Ouster

Release of OS V4.12(Operating System)

Mid-term migration of BALYO’s mobilerobots to Ouster's 3D lidars

Safety Soft Gen2 - mobile robots adapt their
speed in real time

Improvement of existing abilities:

Pallet perception - improvement of pallet
drop-off perception for the combination ofmanual pick & autonomous drop of pallets

localize mobile robots in complex
environments,
detect obstacles at height or on theground in 3D at 360° & auto-restart
improveenergy& efficiency

consumption

Autocalibration
extensionoftheautocalibration features to accelerate set-up
or restart of the mobile robots after delivery
or following a maintenance operation
Client driven commissioning - Launch of tests
at clients of our 1st graphical & codelessinstallation tool for robots
Productivity gains on REACHY - via software
improvement vs previous OS, 20% improved
speed of the Reach robot Pick & Drop cycle82023 Full Year Results

9

FY 2023 ORDER INTAKE
MULTI-CHANNEL SALES via DIRECT SALES, OEM & INTRALOGISTICS INTREGRATORS+

1

Order intake (€m)

17,8

10,6
8,76,0 6,24,6

4,83,3Q1

10Q2Q32022

2023

Q4

- Increase in backlog to €21.9 million atDecember 31, 2023 (+73% vs. December31, 2022)- Overall annual order intake: €36.1 million,
with direct orders representing 58% of totalorders- Sales momentum in Q4 2023: strong
rebound driven by the signing of a $7.8
million order in the USFY 2023 REVENUE+

1Revenue (€m)
26,7
24,1

11,5

7,6

7,2
3,9Q1

4,4

6,84,3 5,0Q2Q32022

11Q42023

FY- FY 2023 sales up 10% compared to FY 2022
- Sales by geography:• US: +17%
• APAC: +426%• EMEA were stableCONSOLIDATED P&L
1IFRS (€m)

12

Dec. 31, 2023

Dec. 31, 2022

Sales revenue

26.67

24.14

COGS(17.38)(13.79)Gross profit

9.28

10.35

Gross margin (%)

35%

43%

R&D

(4.35)(4.55)

Sales & Marketing(2.99)(2.91)

Overheads(7.12)(7.12)

Share-based payment(0.11)(0.24)

Other operating income and expenses(2.71)-Operating loss

(8.00)(4.45)

Financial expense(1.73)(0.11)Net result(9.76)(4.56)

23

Good level of gross margin at 35% (vs 43% in 2022)• Change in sales model and higher-thanexpected execution cost partly due tosubcontracting

Increase in operating expenses, up 17% to €17.3
million:• Other non-recurring operating income andexpenses of €2.7 million recorded, partly
related to SoftBank Group’s takeover bid for
BALYO shares

Operating loss decreased to -€9.8 million vs-€4.6 million in 2022

BALANCE SHEETIFRS (€m)

Dec. 31, 2023

Dec. 31, 2022

Non-current assets

5.55

6.00

Inventories

8.92

6.33

Trade accounts receivables

9.76

3.78

Other receivables

4.06

3.75

Cash & cash equivalents

8.64

8.22

Total assets

36.94

28.08

Shareholders’ equity(12.06)(2.44)

Non-current financial debt

16.45

11.33

Current Financial debt

3.29

3.56

Trade notes and accounts payables

10.05

6.79

Tax and employee-related payables

3.30

3.45

Other current liabilities

15.90

5.40

Total liabilities

36.94

28.08

12Net debt at Dec. 31, 2023:€11.1 millionWorking capital at Dec. 31, 2023: €8.6 million (vs.
€3.3 million at Dec. 31, 2022):•Significant increase in trade accounts
receivables

CASH FLOW STATEMENTIFRS (€m)

Dec. 31, 2023 Dec. 31, 2022

Cash used for operating activities(1.74)(0.35)Cash used for investing activities(0.12)

1.10

Cash provided for financing activities

2.37(2.65)

Change in cash

0.40

(1.99)Cash & cash equivalents

8.62

8.22

1

Cash position of €8.6 million at Dec. 31, 2023
(vs €8.2 million in 2022):•BALYO has entered into a Shareholder Loan
Agreement with SoftBank Group Corp., itsmajority shareholder, for a total amount of up to€12 million. The decision has been approved bythe Board of Directors on March 18, 2024.

Strategy15

DRIVE ROBOTICS ADOPTIONWHAT DRIVES CUSTOMERS TO BALYOBALYO’S ANSWER▲ Difficulty in recruiting and retaining warehouse operators▲ Rising wages and pressure on margins▲ Risk of manual error, esp. in High-bay storage

Digital Journey from Idea to Commissioning
Simpler User Experience
High Bay Storage: VNA & Reach
Standard (OEM) Driverless forklifts & Dual-mode

WHAT IS SLOWING CUSTOMERINVESTMENT IN AUTOMATION▼ Lack of automation expertise, particularly insystem implementation▼ Complexity of systems on offer▼ Perceived expense of automation (especiallyoutside of peak seasons)16

Global Presence & Local Service
1st Robotics Company with Impact Roadmap

STRATEGY INITIATED IN 2022
MORE FOCUSED, IMPROVED EFFICIENCY FOR BETTER SALES CHANNEL CONTROL
1

Focus On High Bay
Storage

2

Transition Towards
A Direct Sales
Model
Pipeline BuildingRapidly

317Strategic Shift To
The US Market

4

Simplify CustomerExperience

Higher Growth
Through Direct SalesGAME-CHANGING HIGH-BAY CAPABILITY

Ability to manage narrow aisles with REACHY (as low as2,9m) is critical as most warehouses do have aisles <3,2m,
especially at 3PL

Apart BALYO other vendors usually can manage aisles>3,3m, hence cannot convert most of the existing
warehouses to autonomy
VEENY (VNA) is about saving space by having a robot
driving into <2m aisles, these products are sold in markets
where space is expensive and scarce, hence one want to goas high as possible
REACHYVEENYROBOTS REACH & VNA :REACHY IN 2,9 M AISLES AND VEENY UP TO 17 M

High-bay storage

18

BALYO is the 1st company who (dared) exploring storage
heights >14m, recently installed robots at SSW in Singapore
at 17m. Japan, UK, Germany, Singapore are markets wheresuch heights are common

IMPACTALL THE ABOVE IS WORTHLESS IF NOT DONE WITH A POSITIVE IMPACT MINDSETBALYO has engaged already since 2021 to add positive impact in its
strategy & decision-making. In 2023, BALYO has reached its cruising
speed and now boasts a high level of maturity.
BALYO’s Roadmap & action plan has been launched to focus on 5
relevant areas ;(1) Robots ecodesign(2) Sustainable procurement(3) Sustainable logistics & People transportation(4) Women at work and(5) Employee engagement

2023 main achievements: EcoFreight score, acceleration in therecruitment of women, stakeholders' engagement, etc.
19Impact Report 2023
published Q1 2024

CONTACTS
BALYO
investors@balyo.com

Investor Relations
T: (+33) 1 44 71 94 94
balyo@newcap.eu