the advanced blast and ballistic systems group....light civilian vehicles advanced blast &...

IN CONFIDENCE 1

For armoured vehicles our patented Linear Rocket Motors (LRM™) initiate in 2ms and deliver most of their massive impulse in 25ms to counteract the mine blast

lifting forces to keep the vehicle on the ground.

The Advanced Blast and Ballistic Systems Group.

2IN CONFIDENCE

ABBS Group Structure and Roles of

Different Operations.

Advanced Blast & Ballistic Systems Ltd. (ABBS) (57% Roger Sloman)

Holds AMPS™ patents and markets the AMPS™ armoured vehicle

technology globally. Current personal 10% share offer (non–EIS).

Advanced Blast

LLC (92% ABBS)

US Licensee. US

fund-raising 2019?

ABBS USA Inc.

(100% US-owned)US

Marketing and

ITAR firewall.

Advanced Reaction Motor Systems Ltd. (ARMS) (40/40% JV between ABBS Ltd

& Falcon) LRM™, propellant, and rocket motor production, and other hardware

procurement required for AMPS™ and eVTOL systems.

Advanced

Protected Vehicles

Ltd. (23.75% each ABBS, ARMS, D and J

Hermer,

Design and build of

mine-protected

Special Forces and

VIP type

vehicles.

Active VTOL Crash

Prevention Ltd.

30% each ABBS

and ARMS, 18.7%

two key staff.

Currently in

discussion with

major industry

players re a JV deal

to exploit the global

market potential.

ABBS Group Markets and Products

3

14ms 100ms

100ms 400msMotor Inactive

Motor Active

Propellant

Rockets

Active

Armoured

Vehicle

Protection

Composite Reinforced Belly

Plate

eVTOL

RocketseVTOL

Zero-Zero

Safety

System

eVTOL Safety System Market Leader

IN CONFIDENCE 4

Roger Sloman Business History

300mm standoff,

moist soil,

100mm depth,

6kg mine.

• 1970 ………...… B.Sc. Organic & Polymer Chemistry.

• 1971 - 75 …..… R&D in Advanced Composite Materials.

• 1975 …..….…… Founded Advanced Composites Group (ACG).

• 1975 - 80……... Introduced Carbon Fibre into F1 Motor Racing.

• 1980 - 2000 …. Developed lower temp. cure (LTM/MTM) prepreg concepts,materials and applications – LTM composite moulds foraerospace structures became standard in the industry.

• 2004 ….……….. ACG sold to Umeco for £45 million (RS retired from ACG on £8million share of proceeds). ACG re-sold in 2012 for £274million to Cytec.

• 2007 ……….….. Consultant to Aigis Blast Protection in Derby, UK.

• 2008 ……....….. Observations of High Speed Video of Blast Test.

• 2008 – 2018 ... Development of Active Mine Protection and eVTOL Systems.

IN CONFIDENCE 5

RS Technology Developments Leading to New Global Markets.

RS has identified and developed four game-changing technology

developments over 43 years which have each been disruptive

and created major new global markets.

• 1975 ……….. Introduced carbon fibre into F1 motor racing, now universalin all racing cars.

• 1980 ………… Developed game-changing Low Temperature Moulding (LTM™)composite moulds for aerospace structures which are now standard globally.

• 2008 ….…….. Identified the AMPS™ Active Mine Protection System concept.Being tested by the US Army and Plasan (Israel) Summer 2018.

• 2017 ……..... Identification of the need for the patented AVCP Safety Systemfor eVTOL’s and all other air vehicles. Now being developed.

6

IN CONFIDENCE

The ABBS Board and Management.

Roger SlomanCEO

Inventor and serial entrepreneur, introduced carbon fibre into F1 motor racing in 1975, identified Active Mine Protection concept in 2008 and eVTOL safety system in 2013.

Dr Brian Coaker Chartered Engineer & Scientist, oversees all technical development.

David Staveley International business background.

Paul Jenkinson MBA, angel Investor.

David Field R&D Grant funding expert.

Simon Flear Chartered Accountant

7

IN CONFIDENCE

Also in the ABBS Group

Daniel Jubb Leading UK rocket scientist. Owner and MD of The Falcon Project Ltd. our JV partner in Advanced Reaction Motor Systems Ltd. (ARMS). Technical Director of ARMS Ltd.

Prefersdiscretion

David Price CAD/CAM, Design Engineer and Electronics/Data Recording expert in TheFalcon Project/ARMS

F Major General Peter Gilchrist

Advisor to ABBS Board. Ex-Head of UK Army Procurement and a military advisor in the UK Embassy in Washington. Also holds a number of non-executive positions, some in larger Defence operations.

CONFIDENTIAL 8

14ms 100ms


ABBS Group Investment Options.

• The ABBS Group has developed unique patent-protected technologywhich is providing two different routes to exploitation, and multiplepotential exits in two major global markets at the same time. Thereare two current investment options as follows:-

1) I am currently offering 10% of my own ABBS shares for £1million torepay £500,000 loan used to support business over last 10 years.

2) The initial July 2017 EIS-qualifying AVCP share offer aimed to raise£600,000, and there is still £235,000 of that offer available at a post-investment valuation of £3million.

• AVCP intends to raise a further £1million next year if necessary, anInnovate UK loan is currently being pursued but US funding optionsalso exist.

IN CONFIDENCE 9

Customer/

Prospect

Application Contractual Form Order/

Quote

Value

£k

FY18-19

Est.

Value £k

FY19-

20

Est.

£k

Current Status

Plasan Seven

Motors

Order 77 77 200 Order placed

TARDEC Nine

Motors

Order expected probably

in 2-3 weeks

192 400 600 Order certain

to be placedTechnamm and

French SF

Belly

plate/floor

Quoted 8th Nov. 2018 43 150 500 Likely to

proceed

MDT Armoured

(Israel)

Belly

Plate/Floor

Quoted Oct. 2018 50 150 500 Likely to

proceed

Georgia Tech eVTOL

system

Humbuzz Team

Partnership Agreement

50 50? ? Likely to

proceedAstro Aero Elroy eVTOL

system

Programme being

discussed

0 50? 300 Likely to

proceedUrban

Aeronautics

eVTOL

system

Programme being

discussed

0 75? 750 Likely to

proceedUBER eVTOL

system

Programme being

discussed

0 50? ? Possible

Current Status – Orders And Pipeline.

IN CONFIDENCE 10

Trading Status and Discussions With

Major Global Players

Global Player Market Level of Discussion Date ABBS Objective

United Tech.

Aerospace (US)

Armoured

vehicles

Initial proposal May 2018 Major

investment/partnership

Plasan (Israel) Armoured

vehicles

Marketing agreement July 2018 Major


Rafael (Israel) Armoured

vehicles

Initial discussions November

2018

Major


Ballistic Recovery

Systems

eVTOL Safety

System

MOU re market

investigation

November

2018

Major


Martin-Baker

Aircraft

eVTOL Safety

System

MOU re market

investigation

October

2018

Major


• With an orderbook which will shortly reach £269,000 the Group is now trading

profitably and is fully expected to continue to do so.

• Internally-funded R&D is currently limited to the free cashflow generated and

the rate of development will only be increased when new funding is available.

11IN CONFIDENCE

6kg TNT-Equivalent Mine Test on a Snatch Land Rover – February 2015

Final jump

height

over 5m

12IN CONFIDENCE

6kg TNT-Equivalent Test on a Snatch Land Rover – February 2015

Note badly

deformed

belly plate

IN CONFIDENCE 13

Systems Active Test – Normal Speed.

300mm standoff,

moist soil,

100mm depth,

6kg mine.

IN CONFIDENCE 14

14ms

Motor Inactive

Systems Active Test – Effective Mass.

• Vehicle static weight c. 4,500 kg.

• Effective weight with two LRM’s firing about 125,000kg.

Vehicle After 6kg Active System Test.

IN CONFIDENCE 15

14ms 100ms


Motor Active

Driver’s door closed

and latched normally

after test. No significant

body distortion

IN CONFIDENCE 16

Systems Active Test – DRID Result.

• Minor Deformation of 15mm Hardox 450 belly plate • c. 30mm indentation in plate above charge.• No penetration.

• Measured DRI 16 instandard drivers seat, below injury threshold.

.

• Composite beam structure intact.• No contact with vehicle chassis rails,

less than 25mm elastic deformationin centre.

17

IN CONFIDENCE

Bringing the ABBS AMPS™ Systems to the Market –First, The Ultimate Protected VIP Vehicle.

Based on the successful Proof of Concept tests ABBS, working with it’s JV partner in

Advanced Protected Vehicles Ltd., OVIK can now design a unique, fully blast and ballistic

protected vehicle for Heads of State and high level Government and Military officials with

customer-specified blast protection levels up to 15 to 20kg.

This will demonstrate the potential for using the same technology in military vehicles.

18

IN CONFIDENCE

Cost-Effective Mine Blast Protection for Light Civilian Vehicles Without Rocket Motors.

Advanced Blast & Ballistic Systems Ltd.

Cost-Effective Mine Blast Protection for

Light Civilian Vehicles

Advanced Blast & Ballistic Systems Ltd.

www.advanced-blast.com

• Testing also showed that a 6kg mine

could be dealt with without using the

rocket motors.

• This makes the system far simpler and

cheaper to install and opens up the

market to Special Forces vehicles, and

UN Aid and mine clearance transport

vehicles, with large volume potential.

• A French Special Forces enquiry

pursued last week raised this possibility.

• A new brochure and approach to this

market is now being adopted, including

a direct approach to Toyota who supply

these vehicles through a special

operation in Gibraltar.

IN CONFIDENCE 19

14ms

Motor Inactive

ABBS Active Mine ProtectionSystems (AMPS™) Technology

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14ms

Motor Inactive


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Motor Inactive


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Motor Inactive


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14ms

Motor Inactive


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Motor Inactive


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14ms

Motor Inactive


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14ms

Motor Inactive


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Motor Inactive


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Motor Inactive


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Motor Inactive


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14ms

Motor Inactive


CONFIDENTIAL 31

14ms 100ms

100msMotor Inactive

The ABBS Group Activities.

Advanced Reaction Motor

Systems Ltd.Propellant and rocket motor design

development and production.

IN CONFIDENCE 32

Advanced Reaction Motor Systems Ltd.

Patented Linear Rocket Motor System Firing.

IN CONFIDENCE 33

Advanced Reaction Motor Systems Ltd.

300mm standoff,

moist soil,

100mm depth,

6kg mine.

• ARMS is a key part of the ABBS Group because it represents amajor part of the technology and IP base which differentiatesthe whole operation from any other of its size.

• The method of manufacture of the propellant used in theAMPS™ armoured vehicle system is a very sophisticatedsystem, unique to ARMS.

• The resulting propellant is an essential part of the uniquepatented Linear Rocket Motor (LRM™) system which reacts fastenough, and powerfully enough to counteract a mine/IED blastunder a vehicle.

• The technology will have many other applications in theaerospace and defence industries in due course.

CONFIDENTIAL 34

14ms 100ms

100msMotor Inactive

The ABBS Group Activities.

Active VTOL Crash

Prevention Ltd.Safety system development for eVTOL’s

and any other light aircraft.

CONFIDENTIAL 35

14ms 100ms


Active VTOL Crash

Prevention Ltd.

CONFIDENTIAL 36

14ms 100ms


Market Forecast – Porsche

Consulting.

Vertical Mobility Market Size to 2035 ($ bn)

Inspection 34Goods 4PassengerIntracity 21 City to City 11 Support Services 4TOTAL $74 billion

• N.B. The value and numbers projected for the Intracity (Urban Air Taxi) market only represents about 1/3rd of the total number of manned eVTOL’s when such as the many utility, First Responder, personal transport, security, police and fun markets are included.

Installed Estimates – Intra-city Only

2025 2030 2035

Baseline 500 2,000 15,000

Progressive 1,000 12,000 43,000

CONFIDENTIAL 37

14ms 100ms


Market Status

• Passenger drones and flying cars are nearing commercial availability, with 13 companies planning tolaunch services between 2020 and 2023. (e.g. Larry Page (Google Founder) has funded threeprojects, the Cora 4-seat eVTOL taxi aircraft currently flying in New Zealand, the Kitty Hawk Flyer, asingle person low altitude open-top ‘fun’ aircraft, and the Blackfly, a closed canopy single seatpersonal transport. Both the latter have FAA approval to be flown in uncongested, safe areas.

• There are new industry challenges but investment will overcome these:-

▪Regulations. ▪Technology maturity. ▪Infrastructure.▪Air Traffic Management. ▪SAFETY. – This is the AVCP focus, the only company offering a patent applied Zero-Zerocapability.

▪Psychological barriers. Source: Deloitte Insights

Uber and others predict that “5,000 eVTOL aircraft will provide air taxi services in every major city in due course”.

38

Conventional Ballistic Parachute Safety System Gap.

• Every eVTOL manufacturer says they will fit a ballistic parachute in

case there are control, power failure, FOD, or bird strike issues.

• But these will only work above about 100 – 150 feet altitude (could be

more – 250 feet?) due to the time it takes for the parachute to open.

• Hence there is a critical safety gap of at least 100 – 150 feet.

• Certification to carry passengers and fly over crowded urban

environments means that a complete Zero Altitude-Zero Speed safety

system will almost certainly be mandated by the FAA if it exists.

Currently there is no such system available.

39

14ms 100ms


System Design Code.

Total Mass (lbs) Thrust (lbsf) Critical Height (ft) Initial Height (ft) vx (mph) vy (mph) Burn Time (s) Max g

4409.2 11240 11 11 0.0 -22.4 0.63 1.55

Total Mass (kg) Thrust (N) Critical Height (m) Initial Height (m) vx (m/s) vy (m/s) Burn Time (s) Max g Limit

2000.0 50000 3 3 0.0 -10.0 0.63 3.00

Last Height Calculated (m)

Impact Velocity at Height Zero (m/s)

Impact Velocity at Height Zero (mph)

0.00 1.02 2.3

Impact Height Used (m) Max Mach No dt

0.00 0.029 0.0014

Time On (s) Impact Time (s) Burn Time (s)

0.00 0.69 0.63

Time On Time Off Impact Time Match Impact Time Index Vy Index Height Min Height

0.001 0.6 0.694 500 1.02 0.00 0.00

Min vy (m/s) At Height (m) At Time (s) Min vy (mph) At Height (ft) At Time (s) Max g

0.4 0.0 0.63 0.94 0.15 0.63 1.55

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

0.00 2.00 4.00 6.00 8.00 10.00 12.00

Hei

ght

(m)

Vertical Downwards Component of Velocity (m/s)

40

14ms 100ms

100ms 400ms

• The emergency could happen at any height.

• At about 100ft the final descent rate may be the worst case of about 20 to 25m/srequiring a high Total Impulse from the rocket motors.

• But at low heights, say in the zero to 30ft range, the aircraft develops much lowermomentum, requiring low Total Impulse, and the motor thrust (exceeding aircraftweight by x2) can lift it into the air after landing. Solution ……….. rotate the motors.

Dealing With All the Variables

It is essential to be able to adjust both the motor thrust level and the Total Impulse delivered. This is covered by AVCP patent applications.

41

Potential Safety System Elements.

42

Rapid Opening Parachute.

43

Target Result – A Ground Contact Velocity Less Than 2 m/s In All Circumstances.

• As a large parachute takes time to fill, AVCP is developing a solutionbased around a smaller, controllable parachute with unique air-bagdriven, rapid-opening characteristics and combining it with a retro-rocket pack to bring the aircraft down to land at between 1 - 2 m/sin a controlled manner, thus eradicating all the known problemswith conventional BRS systems.

• The solution can be adapted to suit each design of aircraft and itsflight characteristics, based around two optional layouts witheither an “in-line” retro-rocket motor pack or an “in-frame” versionfor winged designs.

• The rapid opening parachute allows AVCP to reduce the dangerheight from 200ft down to perhaps about 100ft with the retro-rocket pack firing for about one second to provide a fully controlledlanding, saving the aircraft from major damage and preventing anyinjuries to passengers.

• Our globally patented LRM™ motor technology plus unique motorcontrol and safety system design is currently the only viable Zero-Zero solution that will allow the aircraft designers/operators tomeet the Federal Aviation Authorities safety requirements forurban operations.

44

Other Market Applications for the Parachute/ Rocket Motor Combination.

Military UAV’s

UAV’s are increasingly taking over from military piloted aircraft. These are expensive,

important assets which are worth protecting with a controlled landing system.

Civilian Utility and Scientific UAV’s

Again, civilian use for many purposes is increasing rapidly, some with very expensive

equipment.

Whole Aircraft Recovery Systems

The Light and General Aviation market can use exactly the same combined

parachute/rocket motor combination to great advantage compared to the current

ballistic parachute-only technology. Many accidents occur on take-off or landing

below 250 feet, where the current ballistic parachutes are not effective.

Conventional Helicopters

Either the LRM™ option or possibly even the combined parachute/motor system could

be useful, especially for training applications.

45

IN CONFIDENCE

Business Development Routes – Armoured Vehicle Systems

2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

TARDEC/US Army

Evaluation and development

Specific US vehicle tests

Specific US vehicle certification

Production?

Customer orMarket

6kg no motors Technamm/Special Forces

Proof of Concept Testing

Production for Special Forces

Larger scale production for mine clearance, UN aid vehicle, wider Special Forces uses.

Plasan Israel Proof of Concept Testing

Joint Global marketing of the whole suite of three systemsdealing with Belly Plate Deformation, Floor Shock, and Vehicle Global Acceleration.

Potential major deals with UTAS or Rafael

Both potential deals are currently being discussed. Either would provide major funding, additional resources, and global marketing.

MDT IsraelBelly plate & Active Floor

Proof of Concept Testing

Potential production for Israeli defence Force

46

IN CONFIDENCE

Business Development Routes – eVTOLSafety System – Short Term

2019 2020 2021 2022

Georgia TechHumBuzz

Test BoeingGo-Fly

Possible production version development and sales?

Customer orMarket

Astro AeroElroy/ex-Passenger Drone project.

Proof of Concept testingand initial certification

Testing in NASA/FAAGrand ChallengeProgramme to establish concept with the FAA re rules.

Potential production in fully certified form.

Potential major deals with BRS or Martin-Baker

Both potential deals are currently being discussed. Either would provide major funding, additional technical resources, and global marketing.Possible 3-way JV operation provides easy route to parachute supply and global marketing through BRS with Martin-Baker expertise and reputation.

Urban AeronauticsCormorant

Proof of Concept testing on prototype

Potential production for Israeli Defence Force

47

IN CONFIDENCE

Business Development Routes.

A. - The AMPS™ Armoured Vehicle Technology.1. The TARDEC (Tank and Automotive Research Development and Engineering Centre of

the US Army) collaboration to develop the AMPS™ technology to the TRL6 level is acrucial part of the certification process, which is being fully funded by them purchasingour equipment to test.

2. A major deal with UTAS, Rafael, or Plasan would provide the route to full certificationand the global market as well as funding and a future exit route.

3. Blast protecting light vehicles such as Toyota Land Cruisers to the 6kg under-belly levelwithout using the rocket motors is providing a very large new market currently beingdeveloped. It now extends to civilian UN Aid, Mine Clearance, Embassy etc. vehicles.

B. - The eVTOL Safety System1. We are working directly with the regulatory authorities (FAA,CAA,EASA etc.) who are

specifying the highest safety levels in case of accidents. We expect that the rules willeffectively make the use of our system essential to meet the requirements.

2. Market investigation is being done with separately with both Martin-Baker Aircraftand Ballistic Recovery Systems. Doing a deal with either, or both, preferably in a 3-wayJV is currently being discussed.

48

IN CONFIDENCE

Baseline AVCP 10 Year Forecast

Year to 31 October 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

Profit and loss Summary £ £ £ £ £ £ £ £ £ £ £

Sales Revenue 0 300,000 1,150,000 2,950,000 8,250,000 15,558,333 25,283,333 37,341,667 50,691,667 65,333,333 81,266,667

Gross Margin % 33 38 42 46 48 50 50 50 50 50

Gross Margin 0 99,000 437,000 1,239,000 3,795,000 7,468,000 12,641,667 18,670,833 25,345,833 32,666,667 40,633,333

Staff costs 0 (200,000) (300,000) (350,000) (500,000) (750,000) (1,000,000) (1,250,000) (1,500,000) (1,750,000) (2,000,000)

Overheads 0 (50,000) (100,000) (150,000) (150,000) (225,000) (300,000) (375,000) (450,000) (525,000) (600,000)

IP amortisation 0 (5,069) (15,599) (31,549) (107,320) (242,189) (393,574) (581,281) 0 0 0

Profit/loss before interest & taxation 0 (156,069) 21,401 707,451 3,037,680 6,250,811 10,948,093 16,464,553 23,395,833 30,391,667 38,033,333

Interest 0 (37,000) (38,369) (39,789) (31,831) (23,873) (15,915) (7,958) 0 0 0

Profit / loss before taxation 0 (193,069) (16,968) 667,662 3,005,849 6,226,937 10,932,177 16,456,595 23,395,833 30,391,667 38,033,333

Corporation tax 0 83,220 47,760 (94,850) (553,502) (1,229,134) (2,151,893) (3,237,196) (4,445,208) (5,774,417) (7,226,333)

Net profit after taxation 0 (109,849) 30,792 572,812 2,452,347 4,997,803 8,780,284 13,219,399 18,950,625 24,617,250 30,807,000

Sales of 1,625 AVCP aircraft equivalent systems by 2028 @ £50k each

Based on achieving conservative market share declining to only 16.3% in 2028

49

IN CONFIDENCE

Baseline Forecast AVCP IRR for Investors

Year to 31 October 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

£ £ £ £ £ £ £ £ £ £ £

Company valuation - EBITDA multiple of 6 0 (906,000) 222,000 4,434,000 18,870,000 38,958,000 68,050,000 102,275,000 140,375,000 182,350,000 228,200,000

Company valuation - net assets 476,580 601,731 632,524 1,205,336 3,657,683 8,655,486 17,435,771 30,655,170 49,605,795 74,223,045 105,030,045

Total valuation 476,580 (304,269) 854,524 5,639,336 22,527,683 47,613,486 85,485,771 132,930,170 189,980,795 256,573,045 333,230,045

ROI for investors @ £3m 0.14 (0.09) 0.26 1.71 6.83 14.44 25.93 40.32 57.63 77.83 101.08

IRR for investors @ £3m -36% 14% 47% 56% 59% 59% 57% 55% 52%



Based on a 6X multiple

50

IN CONFIDENCE

Target AVCP 10 Year Forecast

With unit prices increasing to £70k average over the period

and 3,089 AVCP units produced in 2028.

Year to 31 October 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

Profit and loss Summary £ £ £ £ £ £ £ £ £ £ £

Sales Revenue 0 300,000 1,150,000 2,950,000 8,425,000 18,727,500 41,996,667 83,226,481 128,818,796 171,022,963 216,241,019

Gross Margin % 33 38 42 46 48 50 50 50 50 50

Gross Margin 0 99,000 437,000 1,239,000 3,875,500 8,989,200 20,998,333 41,613,241 64,409,398 85,511,481 108,120,509

Staff costs 0 (200,000) (300,000) (350,000) (500,000) (750,000) (1,000,000) (1,250,000) (1,500,000) (1,750,000) (2,000,000)

Overheads 0 (50,000) (100,000) (150,000) (150,000) (225,000) (300,000) (375,000) (450,000) (525,000) (600,000)

IP amortisation 0 (4,531) (11,336) (18,246) (63,168) (166,432) (373,227) (739,639) 0 0 0

Profit/loss before interest & taxation 0 (155,531) 25,664 720,754 3,162,332 7,847,768 19,325,106 39,248,602 62,459,398 83,236,481 105,520,509

Interest 0 (37,000) (38,369) (39,789) (31,831) (23,873) (15,915) (7,958) 0 0 0

Profit / loss before taxation 0 (192,531) (12,705) 680,965 3,130,501 7,823,894 19,309,191 39,240,644 62,459,398 83,236,481 105,520,509

Corporation tax 0 83,220 47,760 (94,850) (568,797) (1,518,162) (3,739,659) (7,596,254) (11,867,286) (15,814,931) (20,048,897)

Net profit after taxation 0 (109,311) 35,055 586,115 2,561,704 6,305,732 15,569,531 31,644,390 50,592,113 67,421,550 85,471,613

Based on achieving a 50% market share from 2024.

51

IN CONFIDENCE

Target AVCP IRR for Investors

Based on 6X Multiple

Year to 31 October 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

£ £ £ £ £ £ £ £ £ £ £

Company valuation - EBITDA multiple of 6 0 (906,000) 222,000 4,434,000 19,353,000 48,085,200 118,190,000 239,929,444 374,756,389 499,418,889 633,123,056

Company valuation - net assets 476,580 602,269 637,324 1,223,439 3,785,143 10,090,875 25,660,406 57,304,797 107,896,909 175,318,459 260,790,072

Total valuation 476,580 (303,731) 859,324 5,657,439 23,138,143 58,176,075 143,850,406 297,234,241 482,653,298 674,737,348 893,913,127





52

IN CONFIDENCE

Exit Options

• The eVTOL market is a rapidly evolving sector, with a fierce ongoing battle to be first tomarket in the Urban Air Taxi space in particular. This could create an exit opportunityfrom any of the major players such as UBER, Boeing, Airbus etc. seeking a fullycompliant safe aircraft with a patent-protected advantage over the competition.

• It could also come from one of the Ballistic Recovery System players such as BRS orGalaxy GRS, or from an aircraft ejection seat manufacturer such as Martin-BakerAircraft Ltd. or United Technologies Aerospace Inc. who already make combinedparachute and rocket motor systems, and whose ejection seat market is declining.

• The valuation will be based around the IP and having a market-ready compliantproduct, and we would expect any exit valuation to be above £30million.

• If the AVCP system becomes the dominant technology based on its IP protection witha greater than 50% market share we would expect a valuation well above £100million.

• Similarly, the armoured vehicle market offers potential exit opportunitieswith any of the major players with whom discussions are already takingplace. It is intended to retain ownership of the core ARMS business.

IN CONFIDENCE 53

Advanced Blast & Ballistic Systems Ltd

Thank You for your attention.

www.advanced-blast.com

[email protected]

Tel:- (44) 01335 360663 Mobile:- (44) 07989 381057

http://www.advanced-blast.com/

mailto:[email protected]

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