# EDGAR Filing Document

**Accession Number:** 0001864448
**File Stem:** 0001864448-23-000003
**Filing Date:** 2023-1
**Character Count:** 102764
**Document Hash:** 61e83c64a769f6cdfec3a768bf22bdc2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001864448-23-000003.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001864448-23-000003

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20230110

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230110

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wejo Group Ltd
- **CENTRAL INDEX KEY:** 0001864448
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** D0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41091
- **FILM NUMBER:** 23519802

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WEJO LTD.
- **STREET 2:** ABC BUILDING, 21-23 QUAY ST.
- **CITY:** MANCHESTER
- **STATE:** X0
- **ZIP:** M3 4AE
- **BUSINESS PHONE:** 448002343065

**MAIL ADDRESS:**
- **STREET 1:** C/O WEJO LTD.
- **STREET 2:** ABC BUILDING, 21-23 QUAY ST.
- **CITY:** MANCHESTER
- **STATE:** X0
- **ZIP:** M3 4AE

?xml version="1.0" ? wejo-20230110

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**Current Report**

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): January 10, 2023**

![wejo-20230110_g1.jpg](wejo-20230110_g1.jpg)

**WEJO GROUP LIMITED**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Bermuda** | **001-41091** | **98-1611674** |
| (State or Other Jurisdiction<br>of incorporation) | (Commission file number) | (IRS Employer Identification No.) |
| **Canon's Court** | **Canon's Court** |  |
| **22 Victoria Street** | **22 Victoria Street** |  |
| **Hamilton** | **Bermuda** | **HM12** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Address of Principal Executive Offices)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**+44 8002 33065**

**(Registrant's telephone number, including area code)**

**Not Applicable**

(Former name or former address, if changed since last report.)

Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of Each Class:** | **Trading <br>Symbol(s)** | **Name of Each Exchange on<br>Which Registered:** |
| Common Share, par value $0.001 per share | WEJO | The NASDAQ Stock Market LLC |
| Warrants, each whole warrant exercisable for one share of common shares at an exercise price of $11.50 | WEJOW | The NASDAQ Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter):

Emerging growth company 🗷

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 1.01&nbsp;&nbsp;&nbsp;&nbsp; Entry into a Material Definitive Agreement.**

***Business Combination Agreement***

On January 10, 2023, Wejo Group Limited, an exempted company limited by shares incorporated under the laws of Bermuda (the "<u>Company</u>"), entered into a business combination agreement (as it may be amended, restated, supplemented or otherwise modified from time to time, the "<u>Business Combination Agreement</u>") with TKB Critical Technologies 1, an exempted company limited by shares incorporated under the laws of the Cayman Islands ("<u>TKB</u>"), Green Merger Subsidiary Limited, an exempted company limited by shares incorporated under the laws of the Cayman Islands and a direct, wholly owned subsidiary of the Company ("<u>Merger Sub 1</u>") and, upon formation and execution of a joinder to the Business Combination Agreement, each of Wejo Holdings Ltd., an exempted company limited by shares incorporated under the laws of Bermuda and a direct, wholly owned subsidiary of the Company ("<u>Holdco</u>") and Wejo Acquisition Company Ltd, an exempted company limited by shares incorporated under the laws of Bermuda and a direct, wholly owned subsidiary of Holdco ("<u>Merger Sub 2</u>" and together with Merger Sub 1, the "<u>Merger Subs</u>").

Pursuant to the Business Combination Agreement and subject to the satisfaction or waiver of the terms and conditions specified therein, (i) Merger Sub 1 will merge with and into TKB, with TKB continuing as the surviving company and a wholly owned subsidiary of Holdco (the "<u>TKB Merger</u>") and (ii) Merger Sub 2 will merge with and into the Company, with the Company continuing as the surviving company and a wholly owned subsidiary of Holdco (the "<u>Wejo Merger</u>" and, together with the TKB Merger, the "<u>Business Combination</u>") so that, immediately following completion of the Business Combination (the "<u>Closing</u>"), each of the Company and TKB will be a wholly owned subsidiary of Holdco. The Closing is expected to occur in the second quarter of 2023.

Capitalized terms used in this Current Report on Form 8-K but not defined herein have the meaning ascribed to such terms in the Business Combination Agreement.

*Company Merger*

At the effective time of the Wejo Merger, by virtue of the Wejo Merger and without any action on the part of the holders of any shares of the capital stock of the Company, each common share of the Company issued and outstanding immediately prior to the effective time (other than (i) any common shares of the Company held in the treasury of the Company or owned by TKB and (ii) any common shares of the Company held by shareholders of the Company that have validly exercised dissenters rights) will be converted into the right to receive one (1) common share of Holdco, par value $0.001 per share ("<u>Holdco Common Share</u>"). Each warrant of the Company issued and outstanding immediately prior to the effective time of the Wejo Merger will be assumed by Holdco and automatically represent a warrant to acquire a Holdco Common Share.

Each stock option of the Company that is outstanding immediately prior to the effective time of the Wejo Merger, whether vested or unvested, shall automatically and without any action on the part of the holder or beneficiary thereof be assumed by Holdco and converted into an option to purchase a number of Holdco Common Shares equal to the total number of Wejo Common Shares subject to the stock option immediately prior to the effective time of the Wejo Merger, and shall otherwise be subject to the same terms and conditions (including vesting schedule) as applicable to the corresponding stock option of the Company.

*TKB Merger*

At the effective time of the TKB Merger, by virtue of the TKB Merger and without any action on the part of the holders of any shares of the capital stock of TKB, each TKB ordinary share issued and outstanding immediately prior to the effective time (other than (i) any ordinary shares of TKB held by shareholders of TKB that have validly exercised redemption rights under the TKB organizational documents, (ii) any ordinary shares of TKB held in the treasury of TKB or owned by the Company and (iii) any ordinary shares of TKB held by shareholders of TKB that have validly exercised dissenters rights) will be converted into the right to receive Holdco Common Shares based on a floating exchange ratio. The exchange ratio will be determined by dividing $11.25 by the Company's volume weighted price per share for the 15 consecutive trading days immediately preceding the second trading day prior to the TKB shareholders meeting to be held in connection with the Business Combination, subject to a minimum exchange ratio of 3.75 and a maximum exchange ratio of 22.50. Each TKB warrant issued and outstanding immediately prior to the effective time of the TKB Merger will be assumed by Holdco and automatically represent a warrant to acquire a Holdco Common Share and each TKB unit issued and outstanding immediately prior to the effective time will be automatically detached and the holder of each unit will be deemed to hold one TKB Class A ordinary share and one-half of a TKB public warrant, which underlying Class A ordinary share and public warrant will be converted in accordance with the terms explained above.

*Closing Conditions*

The Closing is subject to customary closing conditions, including, among others, (i) approval of the transaction by TKB's shareholders and the Company's shareholders, (ii) approval of the extension of the term of TKB's existence beyond its existing expiration date of January 29, 2023 (the "<u>Extension</u>"), (iii) subject to certain materiality exceptions, the accuracy of the representations and warranties made by Holdco, the Company, the Merger Subs, and TKB, respectively, and compliance by Holdco, the Company,

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the Merger Subs and TKB with their respective obligations under the Business Combination Agreement, (iv) declaration of the effectiveness by the Securities and Exchange Commission (the "<u>SEC</u>") of the Registration Statement on Form S-4 to be filed by Holdco (the "<u>Registration Statement</u>"), (v) the absence of any governmental order, statute, rule or regulation or governmental action enjoining or prohibiting the consummation of the Business Combination, (vi) approval of Holdco Common Shares and warrants issued as consideration in the Business Combination for listing on Nasdaq Stock Market subject to official notice of issuance, (vii) the absence of material adverse effect that is continuing with respect to TKB and the Company, (viii) the termination of the equity facility dated February 14, 2022 between CF Principal Investments LLC, a Delaware limited liability company, and the Company and (ix) there being at Closing, in the reasonable and good faith assessment of the Company or TKB, as applicable, available cash on hand at the Company or available cash to be borrowed pursuant to binding contractual commitments from third parties, in such amounts that, together with (A) the net proceeds of amounts in the Trust Account, (B) any irrevocable and binding financing commitments entered into pursuant to the Business Combination Agreement and (C) any non-binding financing commitments or other sources of income that in the reasonable determination of the Company or TKB, as applicable, are reasonably expected to be available following the Closing, will be sufficient to fund ordinary course working capital and other general corporate purposes of the Company in accordance with its mid-term business plan.

*Governance*

The Business Combination Agreement provides that, from and after the Closing, (i) the board of directors of Holdco (the "<u>Holdco Board</u>") will consist of nine individuals (the majority of whom will meet the independence requirements of Nasdaq), including two individuals that will be designated in writing by TKB Sponsor I, LLC ("<u>Sponsor</u>") and seven individuals that will be designated in writing by the Company, and (ii) the officers of the Company will be appointed as the officers of Holdco.

*Representations and Warranties*

The Business Combination Agreement contains customary representations and warranties of the Company, Holdco, and the Merger Subs, in each case subject to customary materiality and knowledge qualifiers. In addition, the Business Combination Agreement contains representations and warranties of TKB, subject to customary materiality and knowledge qualifiers.

*Covenants*

The Business Combination Agreement provides for customary covenants of the Company, Holdco, the Merger Subs and TKB, including covenants regarding the conduct of their respective businesses during the pendency of the Business Combination and the other transactions contemplated by the Business Combination Agreement, public disclosures and other matters. TKB and the Company have also agreed not to solicit proposals relating to alternative business combination transactions or, subject to certain exceptions, enter into discussions, or enter into any agreement, concerning, or provide confidential information in connection with, any proposals for alternative business combination transactions.

Each party's board of directors may change its recommendation to its shareholders (i) at any time prior to obtaining shareholder approval, in response to a superior proposal or (ii) from and after the initial filing of the Registration Statement on Form S-4 of Holdco and prior to obtaining shareholder approval, in the event that in the reasonable and good faith assessment of the Company or TKB, as applicable, at the Closing the Company will not have available cash on hand or available cash to be borrowed pursuant to binding contractual commitments from third parties, in such amounts that, together with the (A) net proceeds of amounts in the Trust Account, (B) any irrevocable and binding financing commitments entered into pursuant to the Business Combination Agreement and (C) any non-binding financing commitments or other sources of income that in the reasonable determination of the Company or TKB, as applicable, are reasonably expected to be available following the Closing, will be sufficient to fund ordinary course working capital and other general corporate purposes of the Company in accordance with its mid-term business plan.

*Termination*

The Business Combination Agreement may be terminated and the Business Combination and the other transactions contemplated thereby may be abandoned at any time before the Closing by mutual written consent of the Company and TKB. In addition, either the Company or TKB may terminate the Business Combination Agreement if (i) any applicable law or governmental order, injunction, decree or ruling that prohibits, prevents, restrains, or makes illegal the consummation of the Business Combination or the other transactions contemplated by the Business Combination Agreement is issued, (ii) the Business Combination is not consummated by 11:59 p.m. in New York City on August 31, 2023 (the "<u>Outside Date</u>"), (iii) TKB's shareholders have not approved the Extension or (iv) the Company Shareholder Approval or the TKB Shareholder Approval is not obtained.

Further, subject to the terms and conditions of the Business Combination Agreement, the Company may terminate the Business Combination Agreement in the event that, among other things, (i) TKB has breached or failed to perform any of its covenants or other agreements under the Business Combination Agreement, or any of its representations and warranties set forth therein has become inaccurate, in either case, in a manner that would give rise to the failure of certain key conditions to the consummation of the Business Combination, as set forth in the Business Combination Agreement, and such breach, failure to perform, violation or inaccuracy is not capable of being cured by TKB by the applicable time set forth in the Business Combination Agreement, (ii) prior to obtaining the TKB Shareholder Approval, the TKB Board changes or withdraws its recommendation to the shareholders of

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TKB in connection with the Business Combination or the other transactions contemplated by the Business Combination Agreement, or recommends or approves a competing acquisition proposal (in each case, a "<u>TKB Board Recommendation Change</u>"), or (iii) the Company enters into a definitive agreement with respect to a superior proposal at any time prior to obtaining the Company Shareholder Approval, as described in the Business Combination Agreement, provided that the Company has complied with its non-solicitation obligations under the Business Combination Agreement and paid the applicable termination fee described below.

Subject to the terms and conditions of the Business Combination Agreement, TKB may terminate the Business Combination Agreement in the event that, among other things, (i) the Company or Merger Sub has breached or failed to perform any of their respective covenants or other agreements under the Business Combination Agreement, or any of their respective representations and warranties set forth therein has become inaccurate, in each case, in a manner that would give rise to the failure of certain key conditions to the consummation of the Business Combination, as set forth in the Business Combination Agreement, and such breach, failure to perform, violation or inaccuracy is not capable of being cured by the Company or Merger Sub, as applicable, by the applicable time set forth in the Business Combination Agreement, (ii) prior to obtaining the Company Shareholder Approval, the Company Board changes or withdraws its recommendation to the shareholders of the Company in connection with the Business Combination or the other transactions contemplated by the Business Combination Agreement, or recommends or approves a competing acquisition proposal (in each case, a "<u>Company Board Recommendation Change</u>"), or (iii) TKB enters into a definitive agreement with respect to a superior proposal at any time prior to obtaining the TKB Shareholder Approval, as described in the Business Combination Agreement, provided that TKB has complied with its non-solicitation obligations under the Business Combination Agreement and paid the applicable termination fee described below.

*Termination Fees*

The Company will be required to pay TKB a termination fee of $4,000,000 in the event that the Business Combination Agreement is terminated (i) by the Company in order to enter into a definitive agreement with respect to a superior proposal at any time prior to obtaining Company Shareholder Approval, (ii) by TKB, at any time prior to obtaining the Company Shareholder Approval, upon a Company Board Recommendation Change other than in response to an intervening event, and (iii) (A) by the Company or TKB if the Company Shareholder Approval is not obtained, or by the Company or TKB if the TKB Shareholder Approval is not obtained, or (B) by the Company or TKB because the Business Combination is not consummated by the Outside Date (but only if the Company has failed to hold the shareholders' meeting approving the Business Combination before the Outside Date), in each (A) and (B) only if the Company (x) has received a competing proposal that has been publicly proposed or disclosed and not publicly withdrawn prior to the time of the shareholders' meeting of the Company approving the Business Combination (a "<u>Public Company Acquisition Proposal</u>") and (y) before the date that is six months after the date of termination of the Business Combination Agreement, the Company or any Subsidiary consummates, or enters into a definitive and binding agreement, which subsequently results in the consummation of, a transaction or series of related transactions that would constitute a competing proposal under the Business Combination Agreement, subject to certain conditions. In no event will TKB be entitled to receive more than one termination fee.

TKB will be required to pay the Company a termination fee of $4,000,000 in the event that the Business Combination Agreement is terminated (i) by TKB in order to enter into a definitive agreement with respect to a superior proposal at any time prior to obtaining TKB Shareholder Approval, (ii) by the Company, at any time prior to obtaining TKB Shareholder Approval, upon a TKB Board Recommendation Change other than in response to a TKB Intervening Event, and (iii) (A) by TKB or the Company if the TKB Shareholder Approval is not obtained, or by TKB or the Company if the Company Shareholder Approval is not obtained (provided that in such case either party would be also entitled to terminate the Business Combination Agreement because the TKB Shareholder Approval is not obtained), or (B) by TKB or the Company because the Business Combination is not consummated by the Outside Date (but only if TKB has failed to hold the shareholders' meeting approving the Business Combination before the Outside Date), in each (A) and (B) only if TKB (x) has received a competing proposal that has been publicly proposed or disclosed and not publicly withdrawn prior to the time of the shareholders' meeting of TKB approving the Business Combination (a "<u>Public TKB Acquisition Proposal</u>") and (y) before the date that is six months after the date of termination of the Business Combination Agreement, TKB or any of its Affiliates consummates, or enters into a definitive and binding agreement, which subsequently results in the consummation of, a transaction or series of related transactions that would constitute a competing proposal under the Business Combination Agreement, subject to certain conditions. In no event will the Company be entitled to receive more than one termination fee.

In addition, if the Company terminates the Business Combination Agreement for any reasons (other than certain reasons set forth in the Business Combination Agreement), the Company shall pay TKB or its designee for any reasonable and documented fees and out-of-pocket expenses of TKB incurred or payable in connection with the transactions contemplated by Business Combination Agreement up to a maximum amount of $250,000.

*Funding Commitments*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and TKB will use its reasonable best efforts to obtain, at or prior to Closing, irrevocable and binding financing commitments for a private investment in (i) Company Common Shares at a price per share exceeding the trading price of Company Common Shares for an agreed period of time immediately prior to such commitments, (ii) a convertible note issued by the Company in terms reasonably satisfactory to each the Company and TKB, or (iii) non-redemption agreements, in an aggregate amount of up to $50,000,000.

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*Other Matters*

In connection with the Business Combination, Holdco will approve and adopt an equity incentive plan and authorize or reserve for future issuance thereunder shares cumulatively representing up to 15% of the total outstanding Holdco Common Shares.

A copy of the Business Combination Agreement will be filed by amendment on Form 8-K/A to this Current Report on Form 8-K (this "<u>Current Report</u>") within four business days of the date hereof as Exhibit 2.1, and the foregoing description of the Business Combination is qualified in its entirety by reference thereto. The Business Combination Agreement will be filed to provide investors and security holders with information regarding its terms. It is not intended to provide any other factual information about the Company or TKB, or to modify or supplement any factual disclosures about the Company or TKB in its public reports filed with the SEC. The Business Combination Agreement includes representations, warranties and covenants of the Company and TKB made solely for the purposes of the Business Combination Agreement and for the benefit of the parties thereto, and may be subject to important qualifications and limitations agreed to by the Company and TKB in connection with the negotiated terms of the Business Combination Agreement. Moreover, some of those representations and warranties may not be accurate or complete as of any specified date, may be subject to certain disclosures between the parties and a contractual standard of materiality different from those generally applicable to the Company's or TKB's SEC filings. Investors are not third-party beneficiaries under the Business Combination Agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates.

***Voting Agreements***

*Company Voting Agreement*

On January 10, 2023, in connection with the execution of the Business Combination Agreement, certain shareholders of the Company entered into a Voting Agreement with TKB (the "<u>Company Voting Agreement</u>").

Pursuant to the Company Voting Agreement, such Company shareholders have agreed, among other things, to vote or cause to be voted any issued and outstanding Company Common Shares beneficially owned by such shareholders (or that may otherwise become beneficially owned by them prior to obtaining the Company Shareholder Approval) (the "<u>Company Covered Shares</u>") at every shareholders' meeting of the Company during the term of the Company Voting Agreement (i) in favor of (A) a proposal to approve the Bermuda Merger and the other transactions contemplated by the Business Combination Agreement and (B) all of the matters, actions and proposals that would reasonably be expected to facilitate the consummation of the Bermuda Merger and the other transactions contemplated by the Business Combination Agreement, including any proposal to adjourn or postpone any meeting of the Company shareholders to a later date if there are not sufficient votes to approve the proposals necessary to consummate the Bermuda Merger and the other transactions contemplated by the Business Combination Agreement, provided that no Company shareholder will be required to vote in favor of any waiver, modification or amendment to the terms of the Business Combination Agreement that would be less favorable in any material respect to such Company shareholder than the Business Combination Agreement attached as an exhibit to this report (excluding any amendments affecting Company shareholders who are directors, officers or employees of the Company in their capacities as such); and (ii) against (A) any competing acquisition proposal and (B) any amendments to the Company's organizational documents (other than as required to effect the Bermuda Merger and the other transactions contemplated by the Business Combination Agreement) or any other proposal or transaction that would reasonably be expected to (1) impede, frustrate, interfere with, delay, postpone or materially adversely affect in any manner the Bermuda Merger and the other transactions contemplated by the Business Combination Agreement, (2) change, in any manner, the voting rights of any class of share capital of the Company, (3) result in any condition to the consummation of the Bermuda Merger and the other transactions contemplated by the Business Combination Agreement not being fulfilled or (4) result in a breach of any covenant, representation or warranty or other obligation or agreement of the Company under the Business Combination Agreement or the Company shareholder under the Company Voting Agreement in any material respect.

As of January 10, 2023, the Company shareholders subject to the Company Voting Agreement beneficially own more than 11% of the issued and outstanding Company Common Shares.

In addition, each Company shareholder party to the Company Voting Agreement has agreed that, with limited exceptions provided therein, during the period from the date of the Company Voting Agreement until termination thereof, he, she or it will not transfer, directly or indirectly, any Company Covered Shares.

*Sponsor Voting Agreement*

On January 10, 2023, in connection with the execution of the Business Combination Agreement, Sponsor and certain other shareholders of TKB (collectively, the "<u>Relevant TKB Shareholders</u>") entered into a Voting Agreement with the Company (the "<u>Sponsor Voting Agreement</u>").

Pursuant to the Sponsor Voting Agreement, such Relevant TKB Shareholders have agreed, among other things, to vote or cause to be voted any issued and outstanding Subject Securities (as defined therein) beneficially owned by such shareholders (or that

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may otherwise become beneficially owned by them prior to obtaining the TKB Shareholder Approval) at every shareholders' meeting of TKB during the term of the Sponsor Voting Agreement (i) in favor of (A) the Extension (B) a proposal to approve the Cayman Merger and the other transactions contemplated by the Business Combination Agreement and (C) all of the matters, actions and proposals that would reasonably be expected to facilitate the consummation of the Cayman Merger and the other transactions contemplated by the Business Combination Agreement, including any proposal to adjourn or postpone any meeting of shareholders of TKB to a later date if there are not sufficient votes to approve the proposals necessary to consummate the Cayman Merger and the other transactions contemplated by the Business Combination Agreement, provided that no Relevant TKB Shareholder will be required to vote in favor of any waiver, modification or amendment to the terms of the Business Combination Agreement that would be less favorable in any material respect to such Relevant TKB Shareholder than the Business Combination Agreement attached as an exhibit to this report; and (ii) against (A) any competing acquisition proposal , and (B) any amendments to TKB's organizational documents (other than as required to effect the Cayman Merger and the other transactions contemplated by the Business Combination Agreement) or any other proposal or transaction that would reasonably be expected to (1) impede, frustrate, interfere with, delay, postpone or materially adversely affect in any manner the Cayman Merger and the other transactions contemplated by the Business Combination Agreement, (2) change, in any manner, the voting rights of any class of share capital of TKB, (3) result in any condition to the consummation of the Cayman Merger and the other transactions contemplated by the Business Combination Agreement not being fulfilled or (4) result in a breach of any covenant, representation or warranty or other obligation or agreement of TKB under the Business Combination Agreement or any TKB Shareholder under the Sponsor Voting Agreement in any material respect. Further, each Relevant TKB Shareholder has agreed not to redeem any of its TKB Shares in connection with the Cayman Merger or the TKB Extension Approval.

Further, Sponsor shall, immediately prior to, and subject to the Closing, forfeit and surrender irrevocably for no consideration and without any further action by any party up to an aggregate amount equal to 1,725,000 TKB Class B Shares and 3,225,000 TKB Private Warrants, which shall be inclusive of any TKB Class B Shares and TKB Private Warrants that Sponsor has agreed to forfeit in favor of the Forward Purchasers pursuant to those certain subscription agreements executed between Sponsor and the Forward Purchasers prior to the date hereof ("<u>Sponsor Inducement Securities</u>"), as Sponsor may determine in its sole discretion, in order to secure the financing commitments referred to in the Business Combination Agreement or private investments in public equity of TKB; provided that with respect to any Sponsor Inducement Securities that are not forfeited by Sponsor at or prior to the Closing, Sponsor shall irrevocably forfeit and surrender for no consideration and without any further action of any party for the benefit of the Company an aggregate amount equal to 50% of such non-forfeited Sponsor Inducement Securities effective immediately upon Closing.

As of January 10, 2023, the Relevant TKB Shareholders subject to the Sponsor Voting Agreement beneficially own approximately 20% of the issued and outstanding TKB Shares.

In addition, each Relevant TKB Shareholder has agreed that, with limited exceptions provided therein, during the period from the date of the Sponsor Voting Agreement until termination thereof, he, she or it will not transfer, directly or indirectly, any Subject Securities.

*Registration Rights Agreement*

At the Closing, Holdco, the Company, TKB, the Sponsor and certain other security holders of TKB, will enter into a registration rights agreement (the "<u>Registration Rights Agreement</u>"), pursuant to which, upon completion of the Business Combination, the Holdco Common Shares, Holdco warrants and certain other registrable securities described therein held by the Sponsor and the other securityholders of TKB party thereto will bear customary registration rights.

A copy of the Company Voting Agreement, Sponsor Voting Agreement and Registration Rights Agreement will be filed by amendment on Form 8-K/A to this Current Report within four business days of the date hereof as Exhibit 10.1, Exhibit 10.2, and Exhibit 10.3, respectively, and the foregoing description of the Company Voting Agreement, Sponsor Voting Agreement and Registration Rights Agreement is qualified in its entirety by reference thereto.

***Additional Information and Where to Find It***

In connection with the proposed business combination, the Company and TKB plan to file with the SEC and mail or otherwise provide to their respective shareholders a joint proxy statement/prospectus regarding the proposed business combination, which will be contained in a Registration Statement on Form S-4 of Holdco (as amended or supplemented from time to time, the "<u>Joint Proxy Statement/Prospectus</u>"). INVESTORS AND THE COMPANY'S AND TKB'S RESPECTIVE SHAREHOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED BY EACH OF THE COMPANY AND TKB WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND THE PARTIES TO THE PROPOSED BUSINESS COMBINATION. Investors and shareholders will be able to obtain a free copy of the Joint Proxy Statement/Prospectus and other documents containing important information about the Company and TKB, once such documents are filed with the SEC, from the SEC's website at www.sec.gov. The Company and TKB make available free of charge at www.wejo.com and www.tkbtech.com, respectively (in the "Investor Relations" section and "Investors" section, respectively), copies of materials they file with, or furnish to, the SEC.

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***No Offer or Solicitation***

This communication will not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

***Participants in the Solicitation***

The Company, TKB and their respective directors, executive officers and certain employees and other persons may be deemed to be participants in the solicitation of proxies from the shareholders of the Company and TKB in connection with the proposed business combination. Securityholders may obtain information regarding the names, affiliations and interests of the Company's directors and executive officers in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 31, 2022 (as amended on April 11, 2022) and definitive proxy statement for the 2022 annual meeting of shareholders, which was filed with the SEC on April 28, 2022. Securityholders may obtain information regarding the names, affiliations and interests of TKB's directors and executive officers in TKB's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 14, 2022. Additional information regarding the interests of such individuals in the proposed business combination will be included in the Joint Proxy Statement/Prospectus relating to the proposed business combination when it is filed with the SEC. These documents (when available) may be obtained free of charge from the SEC's website at www.sec.gov, Wejo's website at www.wejo.com and TKB's website at www.tkbtech.com.

***Cautionary Statement Regarding Forward-Looking Statements***

This communication contains forward-looking statements within the meaning of the federal securities law. Such statements are based upon current plans, estimates and expectations of management of the Company and TKB in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as "anticipate," "expect," "project," "intend," "believe," "may," "will," "should," "plan," "could," "continue," "target," "contemplate," "estimate," "forecast," "guidance," "predict," "possible," "potential," "pursue," "likely," and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than historical facts, including statements regarding the expected timing of the closing of the proposed business combination; the ability of the parties to complete the proposed business combination considering the various closing conditions; the expected benefits of the proposed business combination; and any assumptions underlying any of the foregoing, are forward-looking statements. Important factors that could cause actual results to differ materially from the Company's and TKB's plans, estimates or expectations could include, but are not limited to: (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the Company's and TKB's businesses and the price of their respective securities; (ii) uncertainties as to the timing of the consummation of the proposed business combination and the potential failure to satisfy the conditions to the consummation of the proposed business combination, including obtaining shareholder approvals with respect to the Extension Proposal or proposed business combination; (iii) the proposed business combination may involve unexpected costs, liabilities or delays; (iv) the effect of the announcement, pendency or completion of the proposed business combination on the ability of the Company to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom the Company does business, or on the Company's operating results and business generally; (v) the Company's business may suffer as a result of uncertainty surrounding the proposed business combination, disruption of management's attention due to the proposed business combination, disruption of current plans and operations, and potential difficulties in employee retention; (vi) the outcome of any legal proceedings related to the proposed business combination or otherwise, or the impact of the proposed business combination thereupon; (vii) the Company or TKB may be adversely affected by other economic, business, and/or competitive factors; (viii) the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement and the proposed business combination; (ix) restrictions during the pendency of the proposed business combination that may impact the Company's or TKB's ability to pursue certain business opportunities or strategic transactions; (x) the risk that the Company or TKB may be unable to obtain governmental and regulatory approvals required for the proposed business combination, or that required governmental and regulatory approvals may delay the consummation of the proposed business combination or result in the imposition of conditions that could reduce the anticipated benefits from the proposed business combination or cause the parties to abandon the proposed business combination; (xi) risks that the anticipated benefits of the proposed business combination or other commercial opportunities may otherwise not be fully realized or may take longer to realize than expected; (xii) the impact of legislative, regulatory, economic, competitive and technological changes; (xiii) risks relating to the value of the Company's shares to be issued in the proposed business combination; (xiv) the risk that integration of the proposed business combination post-closing may not occur as anticipated or the Company may not be able to achieve the growth prospects and synergies expected from the business combination; (xv) exposure to inflation, currency rate and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of the Company's and TKB's traded securities; (xvi) the impact of the COVID-19 pandemic on the Company's and TKB's business and general economic conditions; and (xvii) the unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as the Company's and TKB's response to any of the aforementioned factors. Additional factors that may affect the future results of the Company and TKB are set forth in their respective filings with the SEC, including each of the Company's and TKB's most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on

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Form 10-Q, Current Reports on Form 8-K, and other filings with the SEC, which are available on the SEC's website at www.sec.gov. See in particular Item 1A of Part II of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 under the heading "Risk Factors" and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 under the heading "Risk Factors" and Item 1A of Part II of TKB's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 under the heading "Risk Factors." The risks and uncertainties described above and in the SEC filings cited above are not exclusive and further information concerning the Company and TKB and their respective businesses, including factors that potentially could materially affect their respective businesses, financial conditions or operating results, may emerge from time to time. Readers are urged to consider these factors carefully in evaluating these forward-looking statements, and not to place undue reliance on any forward-looking statements. Readers should also carefully review the risk factors described in other documents that the Company and TKB file from time to time with the SEC. The forward-looking statements in this communication speak only as of the date of this communication. Except as required by law, the Company and TKB assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

**Item 7.01. Regulation FD Disclosure.**

On January 10, 2023, the Company and TKB issued a joint press release (the "<u>Press Release</u>") announcing the execution of the Business Combination Agreement. In addition, the Company posted on its website a presentation for investors with respect to the proposed business combination with TKB (the "<u>Presentation</u>"). Copies of each of the Press Release and Presentation are attached hereto as <u>Exhibits 99.1</u> and <u>99.2</u> and incorporated herein by reference.

The information set forth in this Item 7.01 and the exhibits incorporated by reference herein will not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

**Item 8.01. Other Events.**

Item 7.01 above is incorporated in this Item 8.01 by reference.

**Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.**

(d) The following exhibits are being filed herewith:

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| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 99.1 | <u>[Press Release, dated January 10, 2023.](exhibit991-tkbpressrelease.htm)</u> |
| 99.2 | <u>[Presentation for Investors of Wejo Group Limited, dated January 10, 2023.](wejo-tkbinvestordeckfina.htm)</u> |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized.

Dated: January 10, 2023

---

| | |
|:---|:---|
| Wejo Group Limited | Wejo Group Limited |
| By: | /s/ John T. Maxwell |
|  | John T. Maxwell |
|  | Chief Financial Officer and Director |

---

## Exhibit 99.1

**Exhibit 99.1**

**Wejo Group Limited Enters Into Business Combination with TKB Critical Technologies 1**

*Definitive Business Combination Agreement Expected to Provide up to $100 Million in Capital to Wejo and $11.25 per Share for TKB Shareholders*

*Company to Provide a Business Update on Tuesday, January 10, 2023 at 10:00 am EST*

Manchester, United Kingdom and El Segundo, California, January 10, 2023 -- Wejo Group Limited (NASDAQ:WEJO) ("Wejo"), a global leader in Smart Mobility for Good™ cloud and software analytics for connected, electric and autonomous mobility, today announced that it has entered into a definitive business combination agreement to combine with TKB Critical Technologies 1 (NASDAQ: USCT) ("TKB"). The proposed business combination is subject to a number of closing conditions and the parties anticipate that the transaction will close in the second quarter of 2023. Upon closing of the business combination, the combined company will retain Wejo's ticker symbol and will continue to trade on the Nasdaq Stock Market LLC.

Through a combination of an anticipated PIPE raise and funds from TKB's trust, Wejo believes that this transaction can raise up to $100 million to fund its growth initiatives and position the company to execute on its strategic goals, and potentially reach cash flow breakeven which is expected by mid-2025. Wejo will continue to work on additional short-term funding initiatives to provide bridge capital until the transaction closes.

Wejo continues to perform well in the market and has reached a point of inflection in its growth rates. As announced for the third quarter of 2022, Wejo's financial metrics and KPIs demonstrate significant progress with its customer base. Wejo's revenue in third quarter of 2022 was up more than 600%, total contract value ("TCV") was up over 70%, annual recurring revenue ("ARR") was up 63% and total customers were up over 80% when compared to the third quarter of last year. Building on the operational successes of 2022, Wejo expects to again deliver revenue growth in the range of 200% to 300% in 2023, representing revenue in the range of $20 million to $30 million. Additionally, as a result of the significant growth in revenue and a continued focus on expenses, Wejo anticipates that its operating cash burn in 2023 will be significantly lower than 2022, in the range of $60 million to $70 million.

Operationally, Wejo has been the recipient of multiple industry awards, works with 28 automotive original equipment manufacturers ("OEMs"), fleets and tier 1's around the world, boasts nearly 60 patents pending and has strategic partnerships with General Motors, Microsoft Corporation, Sompo Holdings, Inc. and Palantir Technologies Inc. Additionally, Wejo's partner and customer successes are driven by the company transforming billions of real-time data points into solutions for departments of transportation ("DOTs"), universities, insurance providers, audience and media measurement, fleets, and many other verticals the company serves. Customers can use Wejo's data to transform public and private sector life by improving traffic flow and safety, enhancing insurance policies, delivering a better EV ownership experience and offering a better return on targeted product promotion.

Recent business successes include expanding the company's insurance offerings with Ford, teaming up with Capital Broadcasting Company on infotainment insights, partnering with Microsoft on its Connected Fleets initiative, expanding the number of DOTs it works with, and

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**Exhibit 99.1**

being named Frost & Sullivan's Best Practices Company of the Year Award winner in the Global Connected Car Data Exchange Platforms industry.

Throughout 2022, Wejo received continued financial and commercial backing from investors and strategic partners, including large global automotive OEMs Ford and General Motors, and insurance companies such as Sompo Light Vortex, Inc. Wejo expects to continue to develop its strong relationships with these partners.

The proposed business combination is structured as a stock-for-stock merger, whereby each of Wejo and TKB will become wholly owned subsidiaries of a new holding company ("Wejo Holdings"). At closing of the transaction, each issued and outstanding share and warrant of TKB will be exchanged for the right to receive a number of Wejo Holdings common shares and warrants, respectively, based on an exchange ratio calculated by dividing $11.25 by the volume weighted average price per Wejo common share for the 15 consecutive trading days immediately preceding the second trading day prior to the date of Wejo's shareholders' meeting, subject to a collar. Wejo shareholders will receive equivalent shares in Wejo Holdings.

The structure of this transaction seeks to limit TKB stockholder redemptions and maximize cash delivered to Wejo by providing TKB investors with an approximately 10% premium to the estimated cash in TKB's trust in Wejo Holdings shares. The transaction is expected to provide up to $100 million in combined cash proceeds from the funds in trust and the proceeds of a contemplated PIPE to be raised prior to closing to successfully execute on Wejo's strategy.

Certain shareholders of Wejo cumulatively representing at least 11% of Wejo's share capital have entered into voting agreements with TKB providing that, among other things, such shareholders will vote their shares of Wejo in favor of the transaction, subject to customary exceptions. Similarly, TKB's sponsor has entered into a voting agreement with Wejo providing that, among other things, it will vote its shares in favor of the transaction, subject to customary exceptions.

The board of directors of Wejo and the board of directors of TKB have each unanimously approved the business combination agreement and the transactions contemplated thereby.

Richard Barlow, co-founder and CEO of Wejo, said "This transaction is transformative for Wejo, providing significant funding progress in our bridge to profitability and allowing us to make critical investments in our technology platform and product portfolio. The deal signifies a clear recognition that Wejo's market differentiating Smart Mobility for Good products and services are world-class and positions the company to invest and capitalize on the expected tidal wave of business growth opportunities."

Philippe Tartavull, Executive Chairman of TKB stated, "Strengthening America's core infrastructure has been a key objective of TKB, and Wejo, as a leader in the smart mobility space is an integral part of this mission. With an unmatched ability to access real time data from multiples sensors from over 20 million cars, Wejo provides a critical resource in cases of emergency through real time traffic management, improving performance and security. In addition to monetizing data to various players of the automotive space, Wejo has developed a number of value-added solutions serving different verticals in both the public and private sector.

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**Exhibit 99.1**

As the automotive industry evolves with electric vehicles and other modes of transportation, we believe Wejo will become more and more critical."

Angela Blatteis, co-CEO, CFO and Director of TKB, said, "We are breaking new ground with a unique deSPAC transaction, whereby TKB shareholders are offered a material and immediate premium to the trust value by Wejo in an acquisition of its shares, while providing an opportunity to participate in the development and scaling of a high growth rate critical infrastructure asset. We could not be more excited to partner with the company that is transforming the connected vehicle market."

Webcast

The business update will be webcast on the Investor Relations page of the Company's website at

https://investors.wejo.com. A replay of the business update call will be archived on the Investor Relations page.

Advisors

Jefferies LLC is serving as financial advisor and capital markets advisor to TKB and placement agent in connection with the anticipated PIPE. White & Case LLP is serving as legal counsel to TKB. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Wejo. Paul Hastings LLP is serving as legal advisor to Jefferies LLC.

About Wejo

Wejo Group Limited is a global leader in cloud and software analytics for connected, electric, and autonomous mobility, revolutionizing the way we live, work and travel by transforming and interpreting historic and real-time vehicle data. The Company enables smarter mobility by organizing trillions of data points from 20.8 million vehicles, of which 13.9 million were active on the platform transmitting data in near real-time, and over 94.6 billion journeys globally as of December 31, 2022, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information, and intelligence, Wejo is creating a smarter, safer, more sustainable world for all. Founded in 2014, Wejo has offices in Manchester, UK and in regions where Wejo does business around the world. For more information, visit www.wejo.com or connect with us on LinkedIn, Twitter, and Instagram.

About TKB

TKB Critical Technologies 1 is a blank check company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. TKB is dedicated to investing in critical technologies and the resources needed to manufacture those technologies for America and our allied nations. The firm is led by Angela Blatteis, Co-CEO, CFO & Director, Greg Klein Co-CEO & Director, and Philippe Tartavull, Executive Chairman. For more information, visit www.tkbtech.com

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**Exhibit 99.1**

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities law. Such statements are based upon current plans, estimates and expectations of management of Wejo and TKB in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as "anticipate," "expect," "project," "intend," "believe," "may," "will," "should," "plan," "could," "continue," "target," "contemplate," "estimate," "forecast," "guidance," "predict," "possible," "potential," "pursue," "likely," and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than historical facts, including statements regarding the expected timing of the closing of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction; the competitive ability and position of the combined company; and any assumptions underlying any of the foregoing each are forward-looking statements. Important factors that could cause actual results to differ materially from Wejo's and TKB's plans, estimates or expectations could include, but are not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect Wejo's and TKB's businesses and the price of their respective securities; (ii) uncertainties as to the timing of the consummation of the proposed transaction and the potential failure to satisfy the conditions to the consummation of the proposed transaction, including obtaining shareholder approvals with respect to the extension proposal and business combination; (iii) the proposed transaction may involve unexpected costs, liabilities or delays; (iv) the effect of the announcement, pendency or completion of the proposed transaction on the ability of Wejo to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom Wejo does business, or on Wejo's operating results and business generally; (v) Wejo's business may suffer as a result of uncertainty surrounding the proposed transaction, disruption of management's attention due to the proposed transaction, disruption of current plans and operations, and potential difficulties in employee retention; (vi) the outcome of any legal proceedings related to the proposed transaction or otherwise, or the impact of the proposed transaction thereupon; (vii) Wejo or TKB may be adversely affected by other economic, business, and/or competitive factors; (viii) the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement and the proposed transaction; (ix) restrictions during the pendency of the proposed transaction that may impact Wejo's or TKB's ability to pursue certain business opportunities or strategic transactions; (x) risks that the anticipated benefits of the proposed transaction or other commercial opportunities may otherwise not be fully realized or may take longer to realize than expected; (xi) the impact of legislative, regulatory, economic, competitive and technological changes; (xii) risks relating to the value of the Wejo common shares to be issued in the proposed transaction; (xiii) exposure to inflation, currency rate and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of Wejo's and TKB's traded securities; (xiv) the impact of the COVID-19 pandemic on Wejo's and TKB's business and general economic conditions; and (xv) the unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as Wejo's and TKB's response to any of the aforementioned factors. Additional factors that may affect the future results of Wejo and TKB are set forth in their

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**Exhibit 99.1**

respective filings with the United States Securities and Exchange Commission (the "SEC"), including each of Wejo's and TKB's most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC, which are available on the SEC's website at www.sec.gov. See in particular Item 1A of Part II of Wejo's Comprehensive Annual Report on Form 10-K for the fiscal year ended December 31, 2021 under the heading "Risk Factors," and Wejo's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 under the heading "Risk Factors", and Item 1A of Part II of TKB's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 under the heading "Risk Factors" and TKB's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 under the heading "Risk Factors." The risks and uncertainties described above and in the SEC filings cited above are not exclusive and further information concerning Wejo and TKB and their respective businesses, including factors that potentially could materially affect their respective businesses, financial conditions or operating results, may emerge from time to time. Readers are urged to consider these factors carefully in evaluating these forward-looking statements, and not to place undue reliance on any forward-looking statements. Readers should also carefully review the risk factors described in other documents that Wejo and TKB file from time to time with the SEC. The forward-looking statements in this press release speak only as of the date of this press release. Except as required by law, Wejo and TKB assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

Additional Information

In connection with the proposed transaction, Wejo and TKB plan to file with the SEC and mail or otherwise provide to their respective shareholders a joint proxy statement/prospectus regarding the proposed transaction, which will be contained in a Registration Statement on Form S-4 (as amended or supplemented from time to time, the "Joint Proxy Statement/Prospectus"). INVESTORS AND WEJO'S AND TKB'S RESPECTIVE SHAREHOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED BY EACH OF WEJO AND TKB WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Investors and shareholders will be able to obtain a free copy of the Joint Proxy Statement/Prospectus and other documents containing important information about Wejo and TKB, once such documents are filed with the SEC, from the SEC's website at www.sec.gov.Wejo and TKB make available free of charge at www.wejo.com and www.tkbtech.com, respectively (in the "Investor Relations" section and "Investors" section, respectively), copies of materials they file with, or furnish to, the SEC.

No Offer or Solicitation

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

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**Exhibit 99.1**

Participants in the Solicitation

Wejo, TKB and their respective directors, executive officers and certain employees and other persons may be deemed to be participants in the solicitation of proxies from the shareholders of Wejo and TKB in connection with the proposed transaction. Securityholders may obtain information regarding the names, affiliations and interests of Wejo's directors and executive officers in Wejo's Comprehensive Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 31, 2022 (as amended on April 11, 2022) and definitive proxy statement for the 2022 annual meeting of shareholders, which was filed with the SEC on April 28, 2022. Securityholders may obtain information regarding the names, affiliations and interests of TKB's directors and executive officers in TKB's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 14, 2022. Additional information regarding the interests of such individuals in the proposed transaction will be included in the Joint Proxy Statement/Prospectus relating to the proposed transaction when it is filed with the SEC. These documents (when available) may be obtained free of charge from the SEC's website at www.sec.gov, Wejo's website at www.wejo.com and TKB's website at www.tkbtech.com.

Investors:

Tahmin Clarke

Investor.relations@wejo.com

Idalia Rodriguez, Arbor Advisory Group on behalf of Wejo

Arbor Advisory Group

Investor.relations@wejo.com

Media:

Ben Hohmann

Ben.Hohmann@wejo.com

## Exhibit 99.2

![](wejo-tkbinvestordeckfina001.jpg)© Wejo Ltd. Investor Presentation January 2023 1

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![](wejo-tkbinvestordeckfina002.jpg)© Wejo Ltd. Disclaimer (1/2) Disclaimer This presentation (this "Presentation") is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between TKB Critical Technologies 1 ("TKB") and Wejo Group Limited ("Wejo" or the "Company") and related transactions (the "Potential Business Combination"), and for no other purpose. By reviewing or reading this Presentation, you will be deemed to have agreed to the obligations and restrictions set out below. Forward-Looking Information This Presentation (and oral statements regarding the subjects of this Presentation) contains certain forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this Presentation are forward-looking statements. Forward-looking statements with respect to TKB, Wejo and the Potential Business Combination, include statements regarding the anticipated benefits of the Potential Business Combination, the anticipated timing of the Potential Business Combination, the products and services offered by Wejo and the markets in which it operates (including future market opportunities), Wejo's projected future results, future financial condition and performance and expected financial impacts of the Potential Business Combination (including future revenue, pro forma enterprise value and cash balance), the satisfaction of closing conditions to the Potential Business Combination and the level of redemptions of TKB's public shareholders, and Wejo's expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. These forward-looking statements generally are identified by the words "anticipate," "believe," "estimate," "expect," "forecast," "future," "intend," "may," "opportunity," "plan," "potential," "project," "representative of," "scales," "should," "strategy," "valuation," "will," "will be," "will continue," "will likely result," "would," and similar expressions (or the negative versions of such words or expressions). Forward-looking statements are based on current assumptions, estimates, expectations, and projections of the management of TKB and Wejo and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this Presentation, including but not limited to: (i) the risk that the Potential Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of TKB's and Wejo's securities, (ii) the risk that the Potential Business Combination may not be completed by TKB's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by TKB, (iii) the failure to satisfy the conditions to the consummation of the Potential Business Combination, including the approval of the Potential Business Combination by the shareholders of TKB and Wejo, the satisfaction of the minimum trust account amount following any redemptions by TKB's public shareholders (if applicable), the failure by Wejo to obtain the additional financing required to complete the Potential Business Combination, and the receipt of certain governmental and other third-party approvals (or that such approvals result in the imposition of conditions that could reduce the anticipated benefits from the Potential Business Combination or cause the parties to abandon the Potential Business Combination), (iv) the lack of a fairness opinion from Wejo in determining whether or not to pursue the Potential Business Combination, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreements relating to the Potential Business Combination, (vi) the effect of the announcement or pendency of the Potential Business Combination on Wejo's business relationships, operating results, performance and business generally, (vii) risks that the Potential Business Combination disrupts current plans and operations of Wejo and the disruption of management's attention due to the Potential Business Combination, (viii) the outcome of any legal proceedings that may be instituted against TKB or Wejo related to the Potential Business Combination, (ix) the ability to maintain the listing of the securities of the surviving entity resulting from the Potential Business Combination on a national securities exchange, (x) changes in the combined capital structure of TKB and Wejo following the Potential Business Combination, (xi) changes in the competitive industries and markets in which Wejo operates or plans to operate, (xii) changes in laws and regulations affecting Wejo's business, (xiii) the ability to implement business plans, forecasts, and other expectations after the completion of the Potential Business Combination, and identify and realize additional opportunities, (xiv) risks related to the uncertainty of Wejo's projected financial information, (xv) risks related to Wejo's rollout of its business and the timing of expected business milestones, (xvi) risks related to Wejo's potential inability to achieve or maintain profitability and generate cash, (xvii) current and future conditions in the global economy, including as a result of the impact of the COVID-19 pandemic, inflation, supply chain constraints, and other macroeconomic factors and their impact on Wejo, its business and markets in which it operates, (xviii) the ability of Wejo to maintain relationships with customers, suppliers and others with whom Wejo does business, (xix) the potential inability of Wejo to manage growth effectively, (xx) the enforceability of Wejo's intellectual property, including its patents and the potential infringement on the intellectual property rights of others, (xxi) costs or unexpected liabilities related to the Potential Business Combination and the failure to realize anticipated benefits of the Potential Business Combination or to realize estimated pro forma results and underlying assumptions, including with respect to estimated shareholder redemptions, (xxii) changes to the proposed structure of the Potential Business Combination that may be required or are appropriate as a result of applicable laws or regulations, (xxiii) the ability to recruit, train and retain qualified personnel, and (xxiv) the ability of the surviving entity resulting from the Potential Business Combination to issue equity or obtain financing. The foregoing list of factors that may affect the business, financial condition or operating results of TKB and/or Wejo is not exhaustive. Additional factors are set forth in their respective filings with the U.S. Securities and Exchange Commission (the "SEC"), and further information concerning TKB and Wejo may emerge from time to time. In particular, you should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of (a) TKB's (i) prospectus filed with the SEC on October 28, 2021, (ii) Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 14, 2022, (iii) Forms 10-Q filed with the SEC on May 13, 2022, August 12, 2022 and November 12, 2022, (b) Wejo's (i) Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 31, 2022 (as amended on April 11, 2022), (iii) Forms 10-Q filed with the SEC on May 16, 2022, August 15, 2022 and November 21, 2022, and (c) other documents filed or to be filed by TKB and/or Wejo with the SEC (including a registration statement on Form S-4 to be filed in connection with the Potential Business Combination). There may be additional risks that neither TKB nor Wejo presently know or that TKB and Wejo currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Readers are urged to consider these factors carefully in evaluating these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements. TKB and Wejo expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based, except as required by law, whether as a result of new information, future events, or otherwise. Neither TKB nor Wejo gives any assurance that either TKB, Wejo or the combined company will achieve its expectations. Financial Information; Non-GAAP Measures Neither the independent auditor of TKB or Wejo has examined or compiled the financial information and data contained this Presentation, accordingly, no such independent auditor provides any assurance with respect to any financial information included herein. Such information and data may not be included in, may be adjusted in, or may be presented differently in, any registration statement, prospectus, proxy statement or other report or document to be filed or furnished by TKB or Wejo, or any other report or document to be filed by the combined company following completion of the Potential Business Combination, with the SEC. In addition, this Presentation includes "pro forma" financial data. Any "pro forma" financial data included in this Presentation has not been prepared in accordance with Article 11 of Regulation S-X of the SEC, is presented for informational purposes only and may differ materially from the Regulation S-X compliant pro forma financial data of Wejo or the combined company to be included any filings with the SEC. This Presentation includes certain financial measures of Wejo not presented in accordance with generally accepted accounting principles ("GAAP") including, but not limited to, EBITDA. Non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing Wejo's financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that Wejo's presentation of these measures may not be comparable to similarly-titled measures used by other companies. Wejo believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Wejo's financial condition and results of operations. Wejo believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in and in comparing Wejo's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Please refer to footnotes where presented on each page of this Presentation or to the appendix found at the end of this Presentation for a reconciliation of these measures to what Wejo believes are the most directly comparable measure evaluated in accordance with GAAP, if applicable.

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![](wejo-tkbinvestordeckfina003.jpg)© Wejo Ltd. Use of Projections The financial and operating forecasts and projections of Wejo contained in this Presentation represent certain estimates of Wejo as of the date thereof. Wejo's independent public accountants have not examined, reviewed or compiled the forecasts or projections and, accordingly, do not express an opinion or other form of assurance with respect thereto. These projections should not be relied upon as being indicative of future results. Furthermore, none of Wejo or its management team can give any assurance that the forecasts or projections contained herein accurately represents Wejo's future operations or financial condition. The assumptions and estimates underlying such financial forecast information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Wejo or that actual results will not differ materially from those presented in these materials. Some of the assumptions upon which the projections are based inevitably will not materialize and unanticipated events may occur that could affect results. Therefore, actual results achieved during the periods covered by the projections may vary and may vary materially from the projected results. Inclusion of the prospective financial information in this Presentation should not be regarded as a representation by any person that the results contained in the prospective financial information are indicative of future results or will be achieved. In particular, this Presentation includes certain projections of non-GAAP financial measures. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, Wejo is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included with respect to such projections. For the same reasons, Wejo is unable to address the probable significance of the unavailable information, which could be material to future results. No Representation or Warranty This Presentation is provided for informational purposes only and does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of TKB, Wejo, or the Potential Business Combination or otherwise make an investment decision with respect to the Potential Business Combination. Recipients of this Presentation should each make their own evaluation of TKB, Wejo, and the Potential Business Combination and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. No representations or warranties, express or implied, are given in, or in respect of, this Presentation. The recipient acknowledges and agrees that the information contained in this Presentation is preliminary in nature and is subject to updating, completion, revision, verification and further amendment, and any such update, supplement, revision, verification or amendment may be material. TKB and Wejo disclaim any duty to update the information contained in this Presentation. None of TKB, Wejo or their respective affiliates has authorized anyone to provide interested parties with additional or different information. Recipients of this Presentation are not to construe its contents, or any prior or subsequent communications from or with TKB, Wejo or their respective representatives, as investment, legal or tax advice. No Offer or Solicitation This Presentation and any oral statements made in connection with this Presentation do not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the Potential Business Combination or any related transactions, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This Presentation does not constitute either advice or a recommendation regarding any securities. The communication of this Presentation is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended, or exemptions therefrom. NONE OF THE SEC NOR ANY OTHER SECURITIES COMMISSION OR SIMILAR REGULATORY AGENCY OF ANY OTHER U.S. OR NON-U.S. JURISDICTION HAS REVIEWED, EVALUATED, APPROVED, DISAPPROVED, PASSED UPON OR ENDORSED THE MERITS OF, THE POTENTIAL BUSINESS COMBINATION OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN, OR DETERMINED THAT THIS PRESENTATION IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. To the fullest extent permitted by law, in no circumstances will TKB, Wejo or any of their respective subsidiaries, shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this Presentation, its contents (including the internal economic models), its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Additional Information and Where to Find It In connection with the Potential Business Combination, TKB and Wejo intend to file relevant materials with the SEC, including a registration statement on Form S-4, which will include a document that serves as a joint prospectus and proxy statement, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all shareholders of TKB and Wejo. TKB and Wejo will also file other documents regarding the Potential Business Combination with the SEC. Before making any voting or investment decision, investors and security holders of TKB and Wejo are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the Potential Business Combination as they become available because they will contain important information about the Potential Business Combination. Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by TKB and Wejo through the website maintained by the SEC at www.sec.gov. The documents filed by TKB with the SEC also may be obtained free of charge upon written request to TKB Critical Technologies 1, 400 Continental Blvd, Suite 6000, El Segundo, CA 90245 or via email at ablatteis@tkbtech.com. The documents filed by Wejo with the SEC also may be obtained free of charge upon written request to Wejo Group Limited, ABC Building, 21-23 Quay Street, Manchester, M3 4A or via email at investor.relations@wejo.com. Industry and Market Data This Presentation has been prepared by TKB and Wejo and includes market data and other statistical information from third-party industry publications and sources as well as from research reports prepared for other purposes. Although TKB and Wejo believe these third-party sources are reliable as of their respective dates, none of TKB, Wejo, or any of their respective affiliates has independently verified the accuracy or completeness of this information and cannot assure you of (and make no representation or warranty, express or implied with respect to) the accuracy or completeness of such data or statistical information. Some data are also based on Wejo's good faith estimates, which are derived from both internal sources and the third-party sources described herein. None of TKB, Wejo, their respective affiliates, or their respective directors, officers, employees, members, partners, shareholders or agents make any representation or warranty with respect to the accuracy of such information. Trademarks and Intellectual Property TKB and Wejo own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This Presentation also contains trademarks. service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with TKB or Wejo, or an endorsement or sponsorship by or of TKB or Wejo. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the®, TM or SM symbols, but such references are not intended to indicate, in any way, that TKB, Wejo or the applicable rights owner will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. Participants in the Solicitation TKB, Wejo and their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from TKB's or Wejo's shareholders in connection with the Potential Business Combination. A list of the names of such directors and executive officers, and information regarding their interests in the Potential Business Combination and their ownership of TKB's or Wejo's securities, as applicable, are, or will be, contained in their respective filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the Potential Business Combination may be obtained by reading the proxy statement/prospectus regarding the Potential Business Combination when it becomes available. You may obtain free copies of these documents as described above. Disclaimer (2/2)

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![](wejo-tkbinvestordeckfina004.jpg)© Wejo Ltd. Company Overview 4

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![](wejo-tkbinvestordeckfina005.jpg)© Wejo Ltd. Introduction to Wejo / TKB Critical Technologies I Opportunity 5 Wejo Team TKB Critical Technologies I Team T R A N S A C T IO N O V E R V IE W Capital Structure Transaction Structure ⚫ Wejo (NASDAQ: WEJO) has agreed to a business combination agreement with TKB Critical Technologies 1 (NASDAQ: USCTU) under which the TKB shareholders will receive a number of newly issued shares of a newly formed Bermuda holding company equal to $11.25 divided by the Company's weighted average stock price over a specific number of days ⚫ Post-closing: Wejo will remain listed on the NASDAQ under the ticker WEJO Valuation & Ownership ⚫ At closing, Wejo will have a post-money enterprise value between $122 million and $412 million, pending mutual agreement of both TKB and the Company ⚫ Current Wejo shareholders will roll 100% of their equity and retain 27-69% of the company based on the above transaction structure, the number of redemptions from the TKB trust, and other factors to be determined ⚫ Transaction expected to deliver up to $100M from TKB's trust account and a PIPE ⚫ The cash proceeds from the transaction will help fund Wejo's growth initiatives and position the company to execute on its strategic goals Angela Blatteis Co-CEO & CFO Greg Klein Co-CEO Philippe Tartavull Executive ChairmanJohn Maxwell CFO Richard Barlow Founder & CEO Hypercom Comverse/Xura

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![](wejo-tkbinvestordeckfina006.jpg)© Wejo Ltd. Executive Summary Wejo is the clear leader in a high-growth market, has a track record of execution, has reached an inflection point of growth in the business, and with this transaction, has taken a major step towards being fully capitalized through cash flow breakeven Major Step Towards Full Capitalization to Cash Flow Breakeven Forefront of the Mobility Data Transformation Emerging Market Leader in Traffic Management Positioned for Accelerated Growth 6

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![](wejo-tkbinvestordeckfina007.jpg)© Wejo Ltd. 2022 Accomplishments Revenue Growth • Achieved 200-300% revenue growth for 2022 • Awarded four US state DoT contracts • Built first major OEM SaaS relationship • Pivot to higher margin solutions Cost Cutting • Reduced quarterly operating cash burn • Lower headcount with focus on ROI and revenue generating functions • Work with strategic partners and vendors to increase efficiency Capital Growth • Strong support from strategic partners Sompo, GM and others • '22 capital raised ~$30M as bridge capital while building long-term capital strategy Innovation • Announced development activities for: • Neural Edge • Autonomous Vehicle Operating System (AV-OS) • Electric Vehicle Operating System (EV-OS) • Our game-changing app, Real-Time Traffic Insights (RTTI) 7

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![](wejo-tkbinvestordeckfina008.jpg)© Wejo Ltd. 2023 Targets Revenue Growth • Continue 200-300% growth rate towards $20-30M revenue target • Starting year with ~$10M of 2023 revenue in backlog Cost Efficiency Focus • Focus on continued cost reduction, while driving revenue generation • Cloud and data costs as a percent of revenue continue to decline • Leverage strategic partnerships to accelerate product opportunities Capital Growth • Raise capital necessary to achieve cash flow break even in mid-2025 • Complete TKB combination and PIPE to raise up to $100M • Deploy additional short-term funding initiatives to provide bridge capital until the transaction closes Innovation & Market Expansion • Leverage new infotainment data for audience & media measurement • Launch US and Japan insurance products • Expand growth in US traffic market with RTTI and other insight tools 8

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Wejo at a Glance Location Dynamics Vehicle Status Powertrain Environment Diagnostic Camera In-Cabin Data Streams Data Packages Developer Interfaces Mobile Apps Web Apps In-Car Apps Cloud Data Centers Analytics Civil EngineeringGovernment & Smart Cities Logistics & Distribution Mapping & Navigation Toll Roads & Bridges Car Sharing & Rental Retail & Entertainment Construction & Real Estate Roadside Assistance Emergency Services Traffic Management Parking & Fuel Data Processing Data Collection $60B Total Addressable Market (TAM) by 2030 Data Analytics 9Source: Ptolemus Consulting Group and Wejo management, total market size rounded to the nearest round number

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![](wejo-tkbinvestordeckfina010.jpg)© Wejo Ltd. CONNECTED VEHICLE DATA Wejo collects more data than the New York Stock Exchange on a daily basis At a Glance 10Metrics as December 31, 2022 20.1 TRILLION+ TOTAL VEHICLES 20.8 STRATEGIC INVESTORS FIELDS OF USE PENDING & GRANTED PATENTS 57+3 OEM, TIER 1, & FLEET PARTNERS 28 MILLION DATA POINTS INGESTED 13.9 VEHICLES LIVE ON PLATFORM 4 GEOGRAPHIES MILLION

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![](wejo-tkbinvestordeckfina011.jpg)© Wejo Ltd. Business Lines 11

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![](wejo-tkbinvestordeckfina012.jpg)© Wejo Ltd. Source: Ptolemus Consulting Group and Wejo management, total market size rounded to the nearest round number Wejo Holds a Leading Position in a $60 Billion Market 2021 Total Vehicles 16M 2022 Total Vehicles 20M+ Partnered with OEMs representing 30% of connected vehicles in the US 30% 12 Marketplace Data Solutions • Unique data supply focuses on non- auto customers like government and mapping providers • Leader in Traffic Management market with three additional target markets on the horizon 2030 TAM $30B • Customized data management solutions available to customers such as OEMs, Tier 1s and Fleet providers • Provides user-friendly visualization tools to analyze complex data sets and unlock unique insights in real-time Software & Cloud Solutions 2030 TAM $30B Connected Vehicle DATA OPTIMIZATION EDGE PROCESSING DATA SECURITY & PRIVACY DATA STANDARDIZATION Edge Processing is an expected future offering

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![](wejo-tkbinvestordeckfina013.jpg)© Wejo Ltd. Mobility Transformation Drives New Target Markets 13 2024 and beyond 2023 Audience & Media Measurement End-to-End Insurance PaymentsRemote Diagnostics Roadside Assistance Car Sharing & Rental Higher margin opportunities with mobility transformation Provides deep knowledge to inform risk and lower fraud claims Better understand the effectiveness of advertising products Marketplace Data Solutions Numbers illustrated in yellow reflect approximate 2030 TAM $2B $5B $14B $5B $900M $575M This slide represents forward-looking opportunities Source: Ptolemus Consulting Group and Wejo management, total market sizes are rounded Traffic $3B Provides real-time traffic updates Fleet Management Services $850M Improves operational efficiency

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![](wejo-tkbinvestordeckfina014.jpg)© Wejo Ltd. Wejo Solutions are Critical to Traffic Management Source: Ptolemus and Wejo management 14 Marketplace Data Solutions We believe we are a critical provider of real-time traffic insights in a $3 billion potential market Wejo's platform improves accuracy and other mobility challenges in Traffic Management Can deliver a comprehensive solution that leverages historical data and real-time traffic insights Capable of addressing major structural mobility challenges such as improving emergency vehicles' time to incident Wejo's Real-Time Traffic Intelligence game-changing app creates new insights daily

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Logistics Engineering & Construction Government & Municipalities Mapping & Navigation M A R K E T P L A C E S Wejo's Next-Gen App: Real-Time Traffic Intelligence Real-time reporting of traffic and Traffic Incident Service 15 Wejo's RTTI solution marries historical data that covers 95% of US roads with accurate real-time traffic insights so customers can optimize traffic flow Marketplace Data Solutions 1. https://www.cozyberries.com/waze-statistics-users-facts/ Total Miles Curated 22 billion1 774 billion x35

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Insurance and Audience Measurement Addressable market opportunity worth almost $5 billion Low-quality data results in inadequate market solutions that focus solely on usage- based insurance Wejo's offering will help reduce risk, validate claims, and prevent fraud, while reducing costs for both insurers and consumers End-to-End Insurance Audience & Media Measurement Addressable market opportunity worth almost $2 billion No current solutions measure the efficacy of media and its impact on driver behavior in real- time Wejo's data and insights will provide timely insights on media effectiveness Source: Ptolemus and Wejo management 16 Wejo's approach to Traffic Management is scalable and transferable Marketplace Data Solutions

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Customer Testimonials "Wejo aligns with our mission to enable first responders through our groundbreaking NG9-1-1 intelligent crash data software. During 9-1-1 emergencies, seconds matter. "One of the things that I really appreciated with Wejo was getting access to actual radio listener data. With this platform, we know how many car radios were listening to our radio stations in our DMA, when they were listening, and for how long. No estimates. No surveys. Just real data." "Wejo brings deep experience and expanded data and fleet management insights to Microsoft Connected Fleets. Wejo helps to significantly increase solution velocity and lower data acquisition cost by eliminating the need to fit new hardware to vehicles for fleet management, helping drive efficiencies and more value for customers." - Lawrence E. Williams, CEO Roadside Telematics Corp - Jon Accarrino, VP of Transformation and Strategic Initiatives, Capitol Broadcasting Company 17 - Sanjay Ravi, General Manager, Automotive, Mobility, and Transportation, Microsoft

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![](wejo-tkbinvestordeckfina018.jpg)© Wejo Ltd. Innovative Solutions to Power OEM Competitiveness Software & Cloud Solutions DATA MANAGEMENT PRIVACY AND CONSENT SOLUTIONS SOFTWARE AND PLATFORM LICENSING IMPLEMENTATION OF CUSTOMIZED SOLUTIONS We are now recognizing revenue from a large North American OEM implementing data quality and privacy solutions 18 OEM Focused High Margin Addressable market opportunity worth over $30 billion OEMs can leverage Wejo insights in real-time to drive competitiveness, build brand loyalty, and enhance customer experience Wejo can offer solutions to OEMs to improve safety and support a better repair experience (i.e., Wejo's insights can help lower the cost of recalls through vehicle monitoring) Executed on a platform with industry-leading scale and speed with a hyperfocus on security Strong Web Effect Source: Ptolemus and Wejo management

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![](wejo-tkbinvestordeckfina019.jpg)© Wejo Ltd. Competitive Advantages Wejo Advantage Wejo Competitors Accuracy & Coverage • Work with 6 of the top 10 US OEMs • 4 times more data than nearest competitor • No critical mass on OEM data Privacy & Trust • Trusted partner of global OEMs for provision of data regulatory and compliance solutions • Lack of trust in a market whereby data security & privacy at the forefront Importance of Real-Time • The only company that can process connected vehicle data in near real-time • Reliance on static data through mobile and batch data pulls Opportunity for Growth • Solutions are scalable and data is dynamic allowing for easy expansion into new product lines and markets • Nascent markets with unsuitable data for expansion 19

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![](wejo-tkbinvestordeckfina020.jpg)© Wejo Ltd. Financial Overview

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![](wejo-tkbinvestordeckfina021.jpg)© Wejo Ltd. Strong Operational Performance Fuels Accelerated Growth Profile Vehicles on Platform (M) Gross Bookings ($M) 21 Gross Bookings per Vehicle ($) Financial Metrics are as of September 30, 2022 YTD numbers may not add up due to rounding 2021 Live Vehicles 2022 Live Vehicles 2021 Total Vehicles 2022 Total Vehicles Q1 10.7 11.8 13.10 16.9 Q2 11.0 13.0 14.60 18.8 Q3 11.8 13.7 15.60 20.1 Net Revenue ($M) Annual Recurring Revenue ($M) 2021 2021 YTD 2022 2022 YTD Q1 0.31 0.31 0.57 0.57 Q2 0.54 0.85 1.62 2.18 Q3 0.35 1.20 2.57 4.75 2021 2022 Q1 3.1 4.5 Q2 4.1 6.2 Q3 4.4 7.2 2021 2022 Q1 0.48 1.18 Q2 0.69 1.39 Q3 0.77 1.11 2021 2021 YTD 2022 2022 YTD Q1 1.56 1.56 6.43 6.43 Q2 2.68 4.24 6.11 12.54 Q3 3.46 7.70 1.00 13.54 Total Contract Value ($M) 2021 2022 Q1 13.7 27.0 Q2 16.4 33.5 Q3 19.9 34.0

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![](wejo-tkbinvestordeckfina022.jpg)© Wejo Ltd. 2022 Company Guidance $2.6M $10M 2021A 2022E Net Revenue +200-300% $(67.7)M $(85M)-$(95M) 2021A 2022E Adjusted EBITDA Loss -26-40% Financial Metrics are as of September 30, 2022 Raised Guidance on July 28 from $(110M)-$(120M) to $(85M)-$(95M) Wejo is still in the process of closing its financial statements for FY 2022. Final net revenue will vary from guidance.

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![](wejo-tkbinvestordeckfina023.jpg)© Wejo Ltd. Target Operating Model at Scale $10M $20M - 30M $150M – 250M 2022E 2023 Guidance 2 - 3+ Years Net Revenue $(85)M – (95)M $(60)M –(70)M $25M-50M 2022E 2023 Guidance 2 - 3+ Years Adjusted EBITDA At scale gross margin of 70-80% and Adjusted EBITDA margin of 40-50% in 3+ years

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![](wejo-tkbinvestordeckfina024.jpg)© Wejo Ltd. Transaction Overview 24 Note: Overview excludes public and private warrants and assumes no redemptions. (1) Net of transaction expenses. (2) Per Wejo management projections. Sources and Uses ($mn) @ $0.50 offer price @ $3.00 offer price Pro Forma Valuation ($mn) @ $0.50 offer price @ $3.00 offer price Cash in Trust and PIPE $100.0 $100.0 Share Price $0.50 $3.00 Cash on B/S 14.7 14.7 x Pro Forma Shares Outstanding 431.6 146.1 Seller Rollover 58.0 348.2 Pro Forma Equity Value $215.8 $505.9 Total Sources $172.7 $462.9 - Pro Forma Cash(1) 99.3 99.3 + Pro Forma Debt 36.0 36.0 Seller Rollover $54.3 $348.2 Pro Forma Implied Enterprise Value $121.7 $411.8 Cash to Balance Sheet 99.3 99.3 Estimated Transaction Expenses 58.0 15.4 Multiples(2) Total Uses $172.7 $462.9 EV / 2023E Net Revenue 4.0x 13.7x EV / 2024E Net Revenue 1.2x 4.2x Illustrative Pro Forma Ownership Key Highlights 69% 22% 9% ✓ TKB will receive a number of newly issued shares of the newly formed Bermuda holding company equal to $11.25 divided by the Company's weighted average stock price over a 15 consecutive trading day period ▪ Assumes collar range of $0.50-$3.00 and exchange ratios of 22.50-3.75, respectively ✓ Existing Wejo shareholders are rolling 100% of their equity ✓ Transaction is major funding step towards cash flow break even ✓ The transaction is expected to close in Q2 2023 27% 52% 21% @ $0.50 offer price @ $3.00 offer price Wejo Rollover Equity SPAC Investors TKB Sponsor

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![](wejo-tkbinvestordeckfina025.jpg)© Wejo Ltd. Thank You

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