Wayv Technologies Limited

Executive Summary

April 2023
Important Information Concerning This Memorandum
Quaestor Capital Markets (hereafter referred to as “QCM” or “Quaestor”), a division of Arena Financial Services, LLC., is providing this information (“Confidential Information Summary” or
“CIS”) at the request of the recipient. QCM is acting as the exclusive financial advisor for Wayv Technologies, Ltd. (“Wayv” or the “Company”). The information contained herein, or upon
which opinions herein have been based, has been obtained from sources believed to be reliable, but no representations, expressed or implied, or guarantees, can be made, by QCM or the
Company, as to their accuracy, timeliness or completeness. All opinions and information set forth herein are subject to change without notice. The information provided in these materials is
for informational purposes only and is not intended to be, nor should it be considered to be, an advertisement or an offer or a solicitation of an offer to buy or sell any securities.

This information is submitted on a confidential basis, strictly for the benefit of the recipient, for use solely in connection with the recipient evaluating a potential transaction (the
“Transaction”) involving the business or assets associated with the Company; use for any other purpose is strictly prohibited. This CIS should be read in conjunction with other materials. The
receipt of this CIS constitutes an agreement on the part of the recipient hereof to maintain the confidentiality of the information contained herein. No person has been authorized to make
any representations or give any information with respect to the business described herein except the information contained herein. Interest parties should not relay on this CIS and should
consider and complete their own due diligence related hereto. This CIS, as well as any materials relative hereto and subsequently provided by the Company, are to be returned or otherwise
destroyed if the recipient decides not to proceed with investigation of, or to participate in, a Transaction or if a Transaction is terminated.

Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities
laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and
includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of future strategic plans including the infusion of capital; (iii) the expected development
of the Company’s business and projects; (iv) execution of the Company’s vision and growth strategy, including with respect to future capital investments, M&A activity and global growth; (v)
sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under
consideration; (vi) no material change in the Company’s current customers, suppliers and / or material agreements; and (vii) future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow recipients the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and
opinions as one factor in evaluating the Company. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any
projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon
what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s
estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

Nothing herein should be construed as advice on tax, legal or accounting matters; any recipient hereof is encouraged to seek out and rely on the advice of its own professionals and advisors
for such matters. QCM shall not have any liability for any omission from this CIS or any other written or oral communications transmitted to the recipient during evaluation of the Company.

QCM may have been, and may in the future be, engaged to provide services as an agent, finder, advisor, and financial advisor to other companies in the industries in which the recipient is
involved. The recipient acknowledges and agrees that nothing contained herein shall limit or restrict the right of QCM or of any member, manager, officer, employee, agent or representative
of QCM or it affiliates to be a member, manager, partner, officer, director, employee, agent or representative of, investor in, or to engage in, any other business, whether or not of a similar
nature to the recipients business, nor to limit or restrict the right of QCM and its affiliates to render services of any kind to any other corporation, firm, individual or association.

The recipient hereof understands and acknowledges that QCM acts solely as financial advisor and that no fiduciary relationship between QCM and the Company or QCM and recipient has
been, or will be, created in respect of the activities contemplated by this information, irrespective of whether QCM has advised or is advising the Company.

QCM is a division of Arena Financial Services, LLC (“AFS”), which is registered with FINRA / SIPC and the US Securities and Exchange Commission, AFS is an affiliate of Arena Investors LP, and
other entities conducting various activities within financial services and investment management.

APRIL 2023 CONFIDENTIAL |2

Company Overview
Delivering a reliable and economical electric alternative to the antiquated boiler heating market.
Overview
Heat Wayv (“Wayv” or the “Company”) is a
development-stage UK-based energy technology
company developing the worlds first microwave-
based space and hot water heater. The Company’s
mission is to facilitate the global energy transition
by helping to decarbonize the world, fight climate
change and save lives doing the right thing.
Founded in 2013, Wayv leverages proven solid-
state radio frequency (“RF”) technology as the
energy source for a cost effective, easily produced
hot water boiler and space heating unit. Building
upon years of development experience in the RF
microwave product sector and working with
leading contract and design manufacturers, the
Company is now positioned to commercialize
Heat Wayv, the worlds first RF microwave-based
boiler platform.
Wayv has perfected the technology and is now
ready to initiate beta production for trialing its
product with several housing partners in the UK.
Following the trial period, the Company plans to
launch firstly in the UK, and shortly thereafter
expand to disrupt the global heating market.
APRIL 2023 CONFIDENTIAL
Unaddressed Market Need
Implemented Net Zero 2050 climate policies
require rapid decarbonization in all sectors. The
existing $85B global boiler market primarily
utilizes legacy carbon-intensive gas systems that
cannot comply with approved carbon reduction
requirements. Recent alternative technologies
have failed due to inadequately providing long-
term transition viability.
Wayv Boiler Technology Solution
Wayv has designed and developed a zero-
carbon* heating boiler appliance required by
industry to transition consumers away from
fossil fuel boilers to a green alternative.
Heat Existing
Transition Hurdles
Wayv Alternatives
Carbon reduction
Economic viability
Consumer comfort
*Fully electric system; carbon emission dependent on grid generation plants.
Source: Global Market Insights; Boiler Market Feb 2023
|3
Strategy
Global carbon emission reduction targets require an all-the-above strategy; Paris Agreement
Situation obliges 195 signatory nations to achieve net zero emission by mid-21st century.

The housing sector, specifically heating boilers, constitute a massive source of carbon emissions
Opportunity and market size. No viable alternative solutions exist; too expensive and undesirable by consumers.

Household Emissions by Source

Refrigeration Wet Cleaning

Cooking 4% 3%
4%
Other
5%
Lighting
6%
Computers &
Electronics
6% Space & Water
Heating
Space Cooling 63%
9%

Source: Scale, distribution and variations of global greenhouse gas emissions

Source: MAHB, Stanford Univ., with permission, Global Stewards, 2019.
driven by U.S. households, Environment International, Volume 133, Part A, 2019

Facilitates transition away from fossil fuels by delivering a market viable electric household boiler
Heat Wayv system: (1) reduces/eliminates carbon emissions, (2) cost effective, and (3) consumer accepted.

APRIL 2023 CONFIDENTIAL |4

Installed Base Boilers/Water Heaters Are Addressable Market
Massive product substitution with innovative zero-carbon boiler/water heater that meets new standards.

 US and European countries mandated to vastly Addressable Market: Number of Households

reduce greenhouse gases to net zero by 2050
 Paris Climate Agreement (“PCA”) requires removal of
fossil fuels for home and commercial heating 185.5 million
 Many countries, e.g., United Kingdom (“UK”), striving (UK + Europe + US)
for even more aggressive reduction targets (i.e.,
reach goals by 2035)

 Estimated target market size >$450B 101.5 million

 Based upon assumed unit sale price of ≈$2,500 (UK + Europe*)

 Virtually all Western countries have 100% access to

electricity via the national generating grid or
alternatively off-grid using either renewable or
generator fed supply

 Approximately 68% of European and US households 23.0 million

are connected to a national natural gas grid or have
access to LPG, oil, or biomass fuel types (United Kingdom (“UK”)

 Primary use of gas within a household is to generate hot

water and some form of spatial heating

Source: Eurotstat 2019 Note: Number of has households in each respective geographic area
Source: EIA 2020 *Targeted European countries: Germany, France, Italy, Spain, Poland, Holland

APRIL 2023 CONFIDENTIAL |5

Heat Wayv Boiler Benefits
Only platform able to satisfy needs of key stakeholders: consumers, governments and builders.

Consumers ✓
 Zero barriers to adoption
Consumers  Comparable cost to gas boilers in all categories
 Cheaper than all other alternative technologies

 Resilience, reliability and comfort

 Incomparable performance, most efficient electric boiler
(96% efficient vs. ≈85-90% for gas)
Builders Governments
 User safety
 No carbon monoxide emitted during operations

Governments ✓ Builders ✓
 Viable carbon reduction solution  Existing installer network can install Heat Wayv boiler,
 Zero-carbon in use; Heat Wayv uses electricity only and no additional training required
produce no CO2 in operation
 Retrofit ready
 Saves 10.9 tons of CO2 per household/yr. by replacing a
fossil-fuel boiler  Straightforward remove and replace boiler swap-out
 Standard connections and no replacement of existing
 Public budget friendly radiators, other heating systems, or heating controllers
 Cost constrained solution for government authorities and
social housing providers to stay within projected budgets for  New-build flexibility
gas boiler replacement  No CO2 venting requirements; appliances can be installed on
any internal wall to suit the build design
APRIL 2023 CONFIDENTIAL |6
Heat Wayv vs. Gas (Existing) & Alternatives (Heat Pumps & Hydrogen)
Wayv provides solution where alternatives fail to deliver viable low carbon technologies.

Heat Pump Barriers to Adoption Gas Hydrogen Wayv vs. Wayv vs.
Heat
Comparison Matrix Wayv Boiler Pump Boiler Gas Alt.
 Prohibitively expensive to purchase
Purchase Price (RRP) $5,400 $3,000 $12,000 $4,200 – ✓
 Installation requires extensive and disruptive home
modifications including replacement of radiators and Install Cost $600 $600 $10,800 $1,200 similar ✓
installation of costly underfloor heating
Government Grants (UK) N/A N/A £5,000 N/A – –

 Inadequate temperature for home space and hot water; Life Expectancy 20 Years 10 Years 15 Years 10 Years ✓ ✓
additional costly heat boosting devices are required
Average fuel cost/yr. $949 $1,174 $1,076 $4,740 ✓ ✓
 Installation not practical in majority of homes due to
construction type or lack of access to external surfaces Tax Adjustment/yr. ($191) $191 ($191) ($191) ✓ –

Servicing Costs/yr. $72 $156 $216 $180 ✓ ✓

Hydrogen Boiler Barriers to Adoption Secondary Heat Source N/A N/A $1,200 N/A ✓ ✓

 Requires major and prohibitively exorbitant national Life Expectancy >20 years >20 Years 5 Years N/A similar ✓
overhaul of the natural gas network to pipe hydrogen
Secondary Heat Fuel Cost/yr. N/A N/A $1,214 N/A ✓ ✓
 Lining all pipes, as hydrogen causes embrittlement in
existing natural gas supply steel pipework Total Running Cost/yr. $830 $1,520 $2,315 $4,729 ✓ ✓

 Replacing or reinforcing joints, as hydrogen needs

1st Year Purchase/Install $6,000 $3,600 $24,000 $5,400 – ✓
considerably higher pressure than natural gas to be
transported through pipeline network 10-year All-in Cost $14,303 $18,802 $48,350 $52,692 ✓ ✓

20-year All-in Cost $22,606 $37,602 $96,701 $99,984 ✓ ✓

Source: Wayv internal estimates

APRIL 2023 CONFIDENTIAL |7

Heat Wayv Solution: Carbon-Free Economical Operation
Direct replacement for the ubiquitous gas boiler/water heater with zero carbon emissions in use.

 High-energy system developed for maximum efficiency and zero carbon use
utilizing electricity, that is aesthetic, practical, and cost-effective

Heat Wayv Gas Boiler Alternatives Heat Wayv Comparison

Carbon emissions reduction Up to 100% None Up to 100% ✓ Dependent on electric grid

Installation Cost Low Low High ✓ Comparable to gas boiler

Operating Costs Low High High ✓ Lowest cost per year

Installation/Scalability Fast Fast Mixed ✓ Installation within one day

Performance High High Mixed ✓ Highest, warranted 20 yrs.

Customer Comfort High High Mixed ✓ Similar to gas boiler

IoT/Battery Integration Yes No Mixed ✓ Battery storage/solar gen.

Source: Wayv internal estimates.

 Superior to gas boilers (carbon emissions ↓ / cost ↓ / performance ↑)

 Operating characteristics akin to those of existing high performance gas boilers, rapidly
delivering and maintaining expected heat levels
 Installed in half a day (same as replacement of gas boiler) by existing heating engineers
 Initial cost comparable to equivalent gas boilers; full life-cycle costs deliver reductions
 Preferable to heat pumps and other alternatives (cost ↓ / performance ↑)
 Lower purchase price; ease of installation; lower operating and maintenance costs;
enhanced performance in temperate climates

APRIL 2023 CONFIDENTIAL |8

Current Technology & Company Positioning
Wayv is poised at commercialization inflection point.

 Research Technology and Confirm Proof of Concept ✓

 Task: Research RF boiler technology as replacement for gas boilers
 Achievement: Successfully developed, tested and patented innovative Heat Wayv RF microwave boiler

 Build Out Team ✓

 Task: Assemble executive team with deep and relevant experience
 Achievement: Engaged executive team and identified initial hires plus advisory board
 Select Equipment Manufacturer ✓
 Task: Identify capable prototype and commercial scale manufacturer
 Achievement: Partnered with Jabil to construct prototype and serve as third-party manufacturer for commercialization

 Gain Customer & Market Recognition ✓

 Task: Initiate dialogue with prospective public and private housing key stakeholders
 Achievement: Numerous interested parties; established trial group; small/large customers and governmental entities

 Finalize Testing & Initiate Commercialization → 2023/24

 Task: Finalize working protypes and initiate trial group testing
 Goal: Complete trial tests and roll out scale production in 2024

APRIL 2023 CONFIDENTIAL |9

Wayv Customer Recognition & Traction
Enormous post-alpha response, quickly established relationships with government/private stakeholders.

 Discussing purchase orders with trial group members Trial Group (amounts annualized)
and senior industry stakeholders to expedite market Annual Installs TAM1 SAM2
entry and accelerate growth via direct to market path New Builds 32,576 $80,136,960 $64,109,568
Government Housing 19,043 $70,269,900 $56,215,920
 New build construction firms
Private Housing N/A N/A N/A
 Local Governments and social housing Total 51,619 $150,406,860 $120,325,488
 Private sector homeowners
Active Conversations (amounts annualized)
 Trial group established; 18 units with 14 entities Annual Installs TAM1 SAM2
 2 academic/government institutions New Builds 54,864 $202,448,160 $161,958,528

 6 government housing authorities Government Housing 71,999 $265,675,695 $212,540,556

Private Housing N/A N/A N/A
 4 new build construction firms
Total 126,863 $468,123,855 $374,499,084
 2 private sector housing service providers
Total UK Market (amounts annualized)
 Immediate commercialization opportunity within UK
Annual Installs TAM1 SAM2
 Revenue >$120M/yr. within trial group alone New Builds 250,000 $615,000,000 $492,000,000
 Revenue >$350M/yr. prospects under active discussion Government Housing 416,667 $1,537,500,000 $1,230,000,000
Private Housing 1,916,667 N/A N/A
 Unencumbered access to >80% of UK heating market Total 2,583,333 $2,152,500,000 $1,722,000,000

 Top 10 housing associations manage ≈50% of housing 1) Total Addressable Market based upon Wayv unit sales prices
stock and replace ≈10% of replace units each year 2) Service Addressable Market based upon applicable quick installation households

APRIL 2023 CONFIDENTIAL | 10

Development Schedule
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

PRE-PRODUCTION PROCESSING 40 Weeks

Stage One (Engineering Cycles 1&2) Stage Two (EC 3) Stage Three (Engineering Cycles 4&5) Prototype
Subcomponent Function End to End Function Prototype Fabrication Shipping
16 Weeks 10 Weeks 18 Weeks Production
Function Form & Function Design
Hand Over

Input Output Input Input Control System

Control System Control System

Input Output
RF Generation RF Generation RF Generation

Input Output RF Delivery

RF Delivery RF Delivery

Input Output Output Output

Power Power Power

Components operate independently Operates as an end-to-end solution

Partial Custom Prototype
Pre-Production Prototype

Month 11 Month 12 Month 13 Month 14 Month 15 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22 Month 23 Month 24

PRODUCTION DESIGN PROCESS 12-15 Months

WAYV PROD TEAM 1st Revenues

READINESS
6-8 Weeks

Engineering Validation (EVT) & Design Validation (DVT) Product Validation LAUNCH

6 Months 5 Months 4 Weeks

Trial Group – Testing Phase

Up to 6 Months
Anticipated early Orders from Trial Group members

*Being at this stage in the process, we may see that some activities overlap more than our current assumptions, as well as seeing a possible time reduction in DVT & PVT Phases, net effect is a reduction in our time to market

APRIL 2023 CONFIDENTIAL | 11

Trial Group Details
Trial Group established and committed to trial Wayv system.

 Trial site partners arranged with key private and public housing parties
 Mixed between public housing, private housing, and new build contractors; potential addressable value >$3.2B

 Trial periods expected to last 3-6 months

 Assessing operational and economic viability (e.g., energy usage, cost vs. alternatives, speed to install, maintenance, etc.)

 Following successful trial period, members indicated an immediate willingness to provide long-term orders
 Private sector engagement is harder to quantify; agreed distribution with both Wolseley Group and City Plumbing, two of
the largest heating and plumbing distributors in the UK
Trial Group Estimated Housing Stock and Value
Member Units Type Stock Stock Type 12-Yr Installs* 12-Yr Value**
Member #1 2 Social Housing 63,000 Fixed 63,000 $232,470,000
Member #2 1 New Build 2,800 Annual 33,600 $82,656,000
Member #3 3 Trial Center N/A N/A N/A $0
Member #4 1 Private Sector 350,000 Fixed 350,000 $861,000,000
Member #5 1 Social Housing 4,500 Fixed 4,500 $16,605,000
Member #6 1 New Build 3,020 Annual 36,240 $89,150,400
Member #7 1 New Build 10,307 Annual 123,684 $304,262,640
Member #8 2 Trial Center N/A N/A N/A $0
Member #9 1 Private Sector 250,000 Annual 3,000,000 $615,000,000
Member #10 1 Social Housing 13,000 Fixed 13,000 $47,970,000
Member #11 1 Social Housing 11,500 Fixed 11,500 $42,435,000
Member #12 1 New Build 16,449 Annual 197,388 $485,574,480
Member #13 1 Social Housing 32,520 Fixed 32,520 $119,998,800
Member #14 1 Social Housing 104,000 Fixed 104,000 $383,760,000
Total 18 861,096 3,969,432 $3,280,882,320
* Wayv internal estimate of total potential boiler installations over a 12-year period
** Wayv internal estimate based upon estimated unit sales price

APRIL 2023 CONFIDENTIAL | 12

Manufacturing Partnership
Jabil committed as third-party manufacturing partner for Heat Wayv.

 Company Overview: Jabil is a global manufacturing services

company. Headquartered in St. Petersburg, Florida, Jabil is one of the
largest companies in the Tampa Bay area. Jabil has 100 plants in 30
countries, and 260,000 employees worldwide.

 Progress: Spent past 12 months working with Jabil to verify

technology and product capability, validate components & supply
chain, and manufacturability. Agreed and cost estimated production
timeline de-risked via work completed to-date.

 Next Steps: Finalize prototypes with Jabil to develop and build-out

the tools and supply-chain required to manufacture boilers at scale
(trial units issued during this phase).

 Benefit: Jabil partnership in design and manufacturing ensures Wayv

can meet key stakeholder schedules and quickly ramp production,
providing the capability to appropriately achieve scale.

APRIL 2023 CONFIDENTIAL | 13

The Team
Seasoned team with prior experience in startup arena as well as investment-backed companies.
Phil Stevens Paul Atherton
Co-Founder & CEO Co-Founder & CTO
 Strategic Lead  Product Innovation Lead
 Phil is a former Senior  Paul has held roles in
Leadership team member both the public and
at NICEIC Group, having private sector, spending
held other positions in time at the MOD as well
the Construction, Retail as design and
and TMT sectors development of technical
products
 An engineer by training
with 20+ years in  Highly accomplished and
leadership roles, coaching having held senior
and empowering people technical and business
to get results leadership roles in global
organizations including
Oracle, AT&T, HP and
DEC
APRIL 2023 CONFIDENTIAL
Katherine Brown Nigel Shepherd
CMO Operations Manager
 Marketing and Sales Lead  Operational Lead
 Katherine is an  Nigel brings a depth of
experienced marketing strategy, program and
executive having led project management
multiple marketing experience gained from
functions for various various roles in both the
businesses ranging from private and public sector.
entrepreneurial startups He has a distinguished
to global enterprises track record of delivering
success at the MOD, BBC
 She is experienced in
& in the City of London
successfully launching
authority
brands and growing them
internationally, including  Nigel holds an MBA from
US and Asia Pac markets Cranfield
| 14
Financial Highlights
Billion-dollar opportunity.
P&L Summary Year 1 – Year 5 Projected:  Capital-light third-party manufacturing model
Revenues, EBITDA and Number of Units
($ millions) drives attractive gross margins
 Jabil build cost per unit ≈$1,200
$1,000 350,000
$923  Est. Avg. sales price per unit ≈$3,100
$900  Est. Avg. unit gross margin ≈60%
300,000

$800
 Large and growing market category
$700
250,000  $85B global market size in 2022

(Units Installed Per Year)

 Growing 7.5% CAGR from 2023 to 2032
( US$ millions)

$600
200,000  Est. 2032 global market size of $180B
$500 $469

150,000
 Forward revenue visibility driven by several
$400
$351 factors:
$300
 >$120M/yr. within trial group alone
100,000
 >$350M/yr. prospects under active discussion
$188
$200
$155
50,000  Significant growth opportunities
$100 $63
$15
 Geographic expansion (Europe, US, etc.)
$- $4
$- 0  Ancillary revenue sources (e.g., servicing)
Year 1 Year 2 Year 3 Year 4 Year 5

Total Revenue EBITDA Number of Units Installed Per Year Source: Global Market Insights; Boiler Market Feb 2023
and Wayv internal estimates.

APRIL 2023 CONFIDENTIAL | 15

Investment Highlights
IDEALLY POSITIONED PLATFORM
• International Net Zero emissions
regulations drive need to replace
ubiquitous gas boilers
• Heat Wayv boiler delivers
comparable performance and
upfront cost vs. gas boilers
• Ideal low-cost no-carbon solution
with a similar cost of ownership
vs. gas boilers over 20-year life
• No other viable boiler substitutes
LATE-STAGE TECH DEVELOPMENT
• All the fundamental R&D efforts
completed
• Validated results detail superior
performance metrics
• Positioned for commercialization
• Exclusive sole license to the
unique IP supported by patents
and registered designs – IP is
owned by a company under
common ownership
APRIL 2023
STRONG FINANCIAL PROFILE
• Novel design affords low assembly
cost and competitive sales price,
driving favorable unit economics
• Commercial sales primed via trials
• Ability to achieve significant market
share within numerous geographic
markets
• Business model with significant
operating leverage produces
substantial est. EBITDA margin
PROVEN MANAGEMENT TEAM
• Executive leadership team with
decades of experience in venture
and investment backed companies
• 10 years of collaborative experience
working together with RF
technology
• Lead team members possess senior
leadership experience within
industry relevant organizations as
well as blue chip enterprises
CONFIDENTIAL
SCALABLE BUSINESS MODEL
• Third-party manufacturing model
provides ability to scale with
‘asset-light’ capital strategy
• Common production line
supporting concurrent
manufacture of multiple models
enables rapid and cost-effective
scaling across markets
• “White Box” solution enables
existing brands and operators to
adopt and easily install
ATTRACTIVEGROWTH OPPORTUNITIES
• Pursue geographic expansion
(e.g., Europe, US)
• Provide complementary services
(e.g., monthly servicing fees)
• Expand to commercial/industrial
boiler markets
• Apply patented technology to
further applications (e.g.,
portable microwaves for
food/water)
| 16
Proposed Transaction and Rationale

 Situation: Wayv presents a novel innovative solution, in a significant and sustainable high growth
market led by Government legislation. The Company has quickly established relationships with key
stakeholders, is now seeking to trial its boiler with several customers, private and public, and
anticipates to receive final approval in 2023/24. Wayv has partnered with Jabil in production and
manufacturing development to accommodate scaling. The Company is now finalizing market tests
and prototypes and working with house builders and authorities to roll out scale production in 2024.

 Series A Overview:
 Capital Sought: $12.0-$15.0M
 Projected Burn Rate: ±$250,000/month average over next twelve months, post-raise, with minimal operations
(i.e., minimum sales assumed); current raise provides 24-month runway with no projected future equity needs

 Use of Proceeds:
 Finalize development efforts– Jabil technical resources, facilities, materials, production of trial units (≈30%)
 Scale team – own technical processes, and manage 3rd parties (≈30%)
 Execute sales & marketing initiatives – maintain and grow forward order book (≈20%)
 Working capital – 3rd party fees, additional patent applications, office costs (≈20%)

 Jabil Prototypes:
 Complete development and manufacture a fully operational Heat Wayv prototype
 Manufacture ≈20 units to undertake compliance certification and field testing by prospective customers

APRIL 2023 CONFIDENTIAL | 17

Contact Information

405 Lexington Ave.

59th Floor
New York, NY 10174
(212) 612-3205 Main

Walter Bailey Nick Fisher Mark Bottini Jr.

Head of Investment Banking Director Vice President
(917) 209-7707 Direct (917) 900-7629 Direct (917) 900-6321 Direct
wbailey@quaestorcm.com nfisher@quaestorcm.com mbottini@quaestorcm.com

APRIL 2023 CONFIDENTIAL | 18