redefining movement · looking information has been prepared on a reasonable basis, reflecting...

REDEFINING MOVEMENTT H R O U G H S H A R E D E L E C T R I C M I C R O - M O B I L I T Y

CompanyOverview

July2020

Strictly Private & Confidential

Certain statements in this presentation are forward-looking statements, which include the development and launch of MILE’s technologies and product and other matters. More specifically, the revenue, EBITDA, operations (trips, contracts, partners, assets & systems) and growth expectations and projections set out in slides 5, 6, 12, 13, and 14 herein all consist of forward-looking statements and information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of MILE’s technologies and products, the impact of the global COVID-19 pandemic on MILE’s supply and demand including MILE’s partners’ ability and need to permit MILE to operate in the event of the pandemic, the impact of travel restrictions on future deployments and potential impacts to MILE’s supply chain, and other factors, many of which are beyond the control of MILE. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Forward-looking statements contained in this presentation are expressly qualified by this cautionary statement.

The forward-looking statements contained in this presentation are made as of May 2020. The forward-looking information has been prepared by our management to provide an outlook of our activities and results and may not be appropriate for other purposes. Our management believes that the forward-looking information has been prepared on a reasonable basis, reflecting management’s best estimates and judgments. This document should be read with the understanding that our actual future results may be materially different from what we expect. Except as required by law, MILE disclaims any intention and assumes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Additionally, MILE undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. Neither we nor any of our representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this presentation. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this presentation by you or any of your representatives or for omissions from the information in this presentation. MILE cannot warrant the information contained to be exhaustive, complete or sufficient. This presentation is being disclosed for general discussion, review, and evaluation only.

In this presentation, “MILE” or “Company” refers to Last Mile Holdings. (TSX.V: MILE).

Unless otherwise indicated, all dollar amounts referred to in this presentation are in U.S. Dollars.

FORWARD-LOOKING STATEMENT

2TSX.V: MILES T R I C T L Y P R I V A T E & C O N F I D E N T I A L

of all trips are under three miles AND taken by single occupancyvehicles(1)

84%of the U.S. population lives in a dense area; roadway congestion at all-timehighs(1)

40minutes spent each day by people waiting to use public transportation(1)

50% $9Kaverage annual cost of owning a car(1)

THE PROBLEM:

§ Single-occupancy vehicles, which are costly and inefficient, remain the primary mode of personal transportation and delivery (food and package).

§ Public transportation (and its supporting infrastructure) is extremely limited.

§ Recently introduced one-off alternativesare not solutions-oriented, organized, orviable long term.

TRANSPORTATION NETWORKS ARE FAILING.

3(1) See supporting data in Appendix.TSX.V: MILES T R I C T L Y P R I V A T E &

C O N F I D E N T I A L

B I K E S C O O T

R I D E SIT

GOTCHA’S SOLUTION.CHOICE & CONVENIENCE: HOLISTIC SUITE OF 100%-ELECTRIC OPTIONS

OUR PRODUCTS

Only company with four distinct shared e-mobility products.

Powered by robust technology platform.

Proprietary design and supply chain.

Industry-leading quality and durability.

OUR APPROACH

Long-term commitment to partnership.

Strategic problem solvers through product and service diversification.

Focused on specific end-markets where we possess deep expertise.

Data and execution driven.

S T R I C T L Y P R I V A T E & C O N F I D E N T I A L

4

5MM+ANNUAL TRIPS (1)CONTRACTED PARTNERS(1)(3)

2020 EXIT REVENUE RUN RATE (1)*

13K+UNIQUE ASSETS (1)(2)

$24MM+ 9MM+DAILY CONSUMER REACH (1)(2)

80%PARTNER CONTRACTS ARE EXCLUSIVE (1)(3)

ESTABLISHED FOOTPRINT WITH EXTENSIVE REACH.

5

*Exit Revenue Run Rate is a non-IFRS measure – see Alternative Performance Measures in the Appendix for more detail. (1) All numbers are based on signed contracts as of May 2020 and management’s estimates of 1.2 bikes trips per day (TVD) with average revenue per ride of $3.18 and 1.75 scooter TVD with average revenue of $4.00.(2) Projected end of 2020.(3) As of May 2020.

TSX.V: MILES T R I C T L Y P R I V A T E & C O N F I D E N T I A L

80+

COMPELLING 5-YEAR FINANCIAL OUTLOOK.

2019 2020E 2021E 2022E 2023E

SYSTEMS DEPLOYED

40

70

2019(1)

R E V E N U E ( 2 )

$4MM$12.18MM

$49MM

115

$87.1MM

175

EBITDA(3)

N/A ($1.5MM)

$19.5MM

$40.5MM

§ Extremely strong underlying business built to date.

§ $12MM of actual revenue projected for2020.

§ $50MM+ revenue run rate and profitability in early 2021.*

§ Attractive payback profile on capital investments (< 1YR).

255

$156.2MM $83.6MM

2019 2020E 2021E 2022E 2023E2020E 2021E 2022E 2023E


*Revenue run rate is a non-IFRS measure – see Alternative Performance Measures in the appendix for more detail.(1) Pro forma figure combining estimated pre-audit annual results of Last Mile Holdings and Gotcha Mobility LLC(2) Annual revenue projections is based on 1.2 TVD per bike earning average revenue per ride of $3.33 and 1.75 TVD per scooter earning average revenue of$4.63, with approximate vehicles deployed in each of 2020, 2021, 2022 and 2023 or 11,000, 26,000, 46,0000 and 80,000 respectively (3) EBITDA based on management’s estimates of costs in May 2020, adjusted at an increasing rate as operations expand.

SIGNIFICANT GROWTH AND ENGAGEMENT YTD.


IN THE FIRST FIVE MONTHS OF 2020 GOTCHA HAS HAD EXCITING MATERIAL INCREASES IN SEVERAL KPIS WITHIN ITS VARIOUS E-MOBILITY MARKETS, INCLUDING:

increase in number of trips/month(1)

53%increase in riders/month(3)

17%increase in vehicles deployed(4)

43% 208%increase in minutes ridden/month(2)

(1) From 36,200 in January 2020 to 51.900 in May 2020.(2) From 416,600 in January 2020 to 1,281,500 in May 2020.(3) From 13,300 in January 2020 to 20,300 in May 2020. (4) From 3,990 in January 2020 to 4,650 in May 2020.

GOTCHA IS A PROFITABLE, COST EFFICIENT OPERATOR. • Our company-average $2.45

contribution per trip is nearly twiceas much as Bird’s most recently-reported unit economics.*

• All revenue per trip metrics haveincreased drastically over the lasttwo months.

• National average revenue per tripacross all vehicle types in over$3.00.**

POSITIVE UNIT ECONOMICS AT EVERY TURN.


*Tech Crunch https://techcrunch.com/2019/07/12/bird-has-positive-unit-economics-with-its-custom-scooter-model-ceo-says/**https://www.cfodive.com/news/dockless-scooters-profitability-forecast-lime-bird/568041/

https://techcrunch.com/2019/07/12/bird-has-positive-unit-economics-with-its-custom-scooter-model-ceo-says/

UNMATCHED VALUE PROPOSITION TO OUR PARTNERS.

“Gotcha’s unique mobility platform has transformed our campus and fundamentally shaped how we view future transportation

infrastructure and capital needs. Our partnership with Gotcha has been a game changer and it certainly fulfills our mission to become a more sustainable campus. In 2020, we renewed their

contract for another 3 years, converting to a multi-modal combination of e-bikes and e-scooters.”

- Don Andrae, Director of Transportation Services,Auburn University

9S T R I C T L Y P R I V A T E & C O N F I D E N T I A L TSX.V: MILE

GOTCHA,A CLASS OF ONE.

GOTCHA’S KEY DIFFERENTIATORS:

§ Multiple shared e-mobility productsprovides an unmatched, holistic solution.

§ Product diversification mitigates seasonalityand potential barriers for rider adoption.

§ Best-in-class product quality and durability.

§ Partnership-first approach has led to a long-standing, high-quality industry reputation.

§ Intentionally focused on the highly attractiveuniversity and mid-size city end-markets.

§ 10-year operating history has created deepindustry expertise.

COMPETITIVE LANDSCAPE

# OF

DIS

TINC

TPR

ODUC

TS1

–4+

DEGREE OF PARTNERSHIP APPROACHLow - High


EMPHASIS ON TWO ATTRACTIVE END-MARKETS: UNIVERSITIESAND MID-SIZE MUNICIPALITIES

§ 10-year operating history in theseend-markets has created deepand unmatched expertise.

§ Large, untapped market withdeficient and unfocusedcompetitors.

§ Regulatory environment lessrestrictive.

§ Attractive consumerdemographic: tech-enabled andmobile.

STRATEGIC END-MARKET FOCUS.

U N I V E R S I T Y

M A R K E T

11

M U N I C I P A L

M A R K E T

$10B+addressable opportunity

3,000+target

universities

12MM+consumer

reach

$50B+addressable opportunity

700+target cities

90MM+consumer

reach


LAUNCH LIST


JULY - SEPT LAUNCHES DEVICES

Tuscaloosa, AL E-BIKES

UNC - Charlotte, NC E-BIKES + SCOOT

City of St. Augustine, FL E-BIKES

City of Burlington, VT E-BIKES + SCOOT

City of Springfield, MO / MSU E-BIKES

Auburn University E-BIKES + SCOOT

City of Richmond, CA E-BIKES

City of North Little Rock & Little Rock, AR E-BIKES

University of Idaho/City of Moscow E-BIKES

North County, CA E-BIKES

City of Mobile, AL E-BIKES

City of Galveston, TX SCOOT + SIT DOWN

City of St. Clair Shores, MI SCOOT + SIT DOWN

City of Blacksburg, VA E-BIKE

AND MORE…

NEW CONTRACTS DEVICES

Grand Rapids, MI E-BIKES + SCOOT + SIT DOWN

Birmingham, AL E-BIKES + SCOOT + SIT DOWN

NEW BUSINESS

59+ LEADS IN THE PIPELINE

HIGHLIGHTS DEVICES

Memphis, TN SIT DOWN (renewal)

Durham, NC SCOOT (renewal)

Penn State E-BIKE

Dearborn, MI E-BIKES + SCOOT + SIT DOWN

Boulder, CO E-BIKES

Hoboken, NJ SCOOT + SIT DOWN

Little Rock, AR SCOOT

Seattle, WA E-BIKE + SCOOT + SIT DOWN

Hamilton, Canada E-BIKE + SCOOT + SIT DOWN

AND MORE…

CURRENT CONTRACTS

35 TOTAL SYSTEMS TO EXECUTE ON THE LAUNCH LIST IN 2020 (8100+ ASSETS, JULY – SEPT. LAUNCHES)

PIPELINE: 11,000+ ASSETS, SEPT. – Q1 2021 OPPORTUNITIES

13S T R I C T L Y P R I V A T E & C O N F I D E N T I A L

• Currently 500 e-bikes in market with 3-yearexclusive contract that includes LSU andSouthern University.

• Can scale to 800 bikes within existingcontract and in talks with partner to addadditional shared micro-mobility options.

• To date: 3,400+ riders 11K+ miles ridden50% of riders are Mo-Pass subscribers

• Since March 2020 have shown steadyincreases in riders (new and existing), tripsper vehicle per day, and revenue.


PARTNER SPOTLIGHT:BATON ROUGE/LSU/SOUTHERN

TSX.V: MILE

14S T R I C T L Y P R I V A T E & C O N F I D E N T I A L

§ Exclusive electric scooter contract forMichigan State University, E. Lansing, MI, andLansing, MI.

§ Currently 500 scooters in market withability to add additional vehicle types(with partner approval).

§ In 60 days of operation:§ 5,600+ riders§ 38K trips§ Averaged 3.75 TVD

§ Launched next gen scooter in April 2020providing longer use life of vehicles andincreased market profitability.


PARTNER SPOTLIGHT:MICHIGAN STATE/E. LANSING/LANSING

TSX.V: MILE

THE GOTCHA MO -PASS:

E-MOBILITY ASA SUBSCRIPTION.

§ Complementary to existing businessmodel of partner subsidy and consumersingle-use pay.

§ Eight existing Gotcha partners havealready indicated their intent toimplement this subscription program.

§ First deployment expected Fall 2020.

GOTCHA OF THE FUTURE

§ We are evolving our existing Mo-Passsubscription service to be the industry'sfirst multi-modal subscription service.

PARTNER FACING:

§ Reduces congestion and optimizes footprint.

§ Mitigates capital expenditures related to parkinginfrastructure.

§ Eliminates burden of financial subsidies.

§ Potential profit center through revenue share.

CO

MP

ELLI

NG

VA

LUE

PR

OP

OSI

TIO

N D

YN

AM

ICS

15

CONSUMER FACING:

§ Multiple products = powerful choice andconvenience.

§ Opportunity to eliminate costly personal vehicle.

§ Flexible, low-cost pricing structure.

§ Tech-enabled, fun and easy to use.


GOTCHATO GO:DELIVERY DONE BETTER.

OVERVIEW

SITBIKE

MARKET

16

BETA

DELIVERY MARKET SNAPSHOT:$200B global industry by 2025.(1)

DoorDash, Grubhub & UberEatslead N.A. delivery market.(1)

28% of Americans have used a food delivery service (as of 03/20). (1)

Restaurants often lose money on orders when using existing delivery services.(1)


TO GO BETA MARKETS:

Atlanta, GA

Baton Rouge, LA

Charleston, SC

Raleigh, NC

Mobile, AL

Syracuse, NY

Majority of deliveries are made by single occupancy vehicles with package sizes that could fit in a basket or backpack, perfect for a shared mobility device.

Delivers on Gotcha’s mission to reduce the use of single occupancy vehicles, especially for short trips.

Complementary to existing shared mobility business, utilizing existing in-market infrastructure, products, staff, brand equity, and relationships.

Partnering with businesses and drivers directly to maximize revenue and reduce costs.

Provides added value and holistic last mile solution for Gotcha riders.

(1) See supporting data in Appendix.TSX.V: MILE

MAX SMITHCEO & Director

LEADERSHIP TEAM

BRETT VIGRASSGeneral Counsel


MATT TOLANCOO

KATE MARLEYCFO

ANNE MORGANCMO

LOU LUCIDORetired Founding Partner and COO of DoubleLine Group, LP

BOARD OF DIRECTORS

BRIAN O’NEILLVice President of Merchant

Banking at SAF Group


ALAN SHAPIROCo-founder, OjO Electric

DOUG DELUCACo-Executive Producer,

Jimmy Kimmel Live

JESSICA VAN DEN AKKERCFO, KORE Mining Ltd

S T R I C T L Y P R I V A T E& C O N F I D E N T I A L

APPENDIX AM I C R O - M O B I L I T Y M A R K E T

TSX.V: MILE 19

PROVEN GROWTH PLATFORM POISED FOR ACCELERATED EXPANSION.

2017 2018 2019(3) 2020E

$1.8MM

(1) 2016-2018 represent revenue earned, while 2019 represents pre audit, proforma results; 2020E represents projected revenue based on signed contracts as of May 2020 and management’s estimates of 1.2 bikes trips per day (TVD) with average revenue per ride of $3.18 and 1.75 scooter TVD with average revenue of$4.00, and deployment of 11,000 vehicles by December 2020.

$2.8MM

2017 2018 2019(3) 2020E

R EVENU E (1) SYSTEMS DEPLOYED(2)

$12 MM

13

ASSETS DEPLOYED (2)

40

11,000

70

(2) 2019 and 2020E figures represent systems and assets that are already contracted.

20

$4MM

22

2020E2019(3)20182017

1,5309802,750


(3) Pro forma figures combining estimated annual results of Last Mile Holdings and Gotcha Mobility LLC.

21

SAMPLE SYSTEM DATA



TSX.V: MILE 22

NATIONWIDE FOOTPRINT

As of May 2020.


TSX.V: MILE

NATIONWIDE FOOTPRINT OF EXCLUSIVE MOBILITY CONTRACTS§ MILE has successfully built a large footprint of exclusive partnerships

with some of the pre-eminent universities and mid-size municipalities inthe U.S.

§ Proven track record of managing successful systems, high qualityreputation and a committed partnership approach have been keydrivers of growth and success.

§ MILE has never entered a new market without the support of thecommunity secured through a multi-year agreement.

§ Structure and terms of contract base provides significant protectionand long-term visibility which helps mitigate seasonality andcompetitive forces.

§ MILE has been able to connect a prominent university with itssurrounding municipality partner creating a powerful network effect.

NOTABLE UNIVERSITY PARTNERS:

NOTABLE MUNICIPALITY PARTNERS:

* All of the above are under an exclusive contract

23


TSX.V: MILE 24

MILE CURRENT CAPITAL STRUCTURE**

Ticker TSX.V:MILE

Limited Voting Shares (Common Shares) 69M

Conversion of LLC* 32M

Options 5.05M

Warrants 31.6M

CAPITAL STRUCTURE

Fully Diluted 137.66M

*Convertible into Limited Voting Shares on a 1:1 basis.


GETTING RECOGNIZED

MILE CEO Max Smith on Mad Money with Jim Cramer, Nov. 4, 2019Source: CNBC; https://www.cnbc.com/2019/11/04/how-electric-scooter-company-ojo-plans-to-change-food-delivery.html

TSX.V: MILE 25

https://www.cnbc.com/2019/11/04/how-electric-scooter-company-ojo-plans-to-change-food-delivery.html

SUPPORTING DATA

26

PAGE 3:§ 50% of trips are 3 miles or less: https://www.bikeleague.org/content/national-household-travel-survey-short-

trips-analysis

§ Average annual cost of car ownership is $9K: https://www.nerdwallet.com/article/loans/auto-loans/total-cost-owning-car

§ 84% of the population lives in dense areas: http://css.umich.edu/factsheets/us-cities-factsheet

§ Commuters wait average of 40 mins: https://www.metro-magazine.com/accessibility/news/292870/u-s-commuters-wait-approximately-40-mins-a-day-for-public-transit

PAGE 9: • Mid-size cities: https://www.google.com/amp/s/www.cnbc.com/amp/2019/11/12/most-livable-and-affordable-mid-

sized-cities-of-2019.html

PAGE 13:§ Delivery $200B business: https://www.forbes.com/sites/sarwantsingh/2019/09/09/the-soon-to-be-200b-online-

food-delivery-is-rapidly-changing-the-global-food-industry/#bdaea71b1bcb

§ North American industry leaders: https://secondmeasure.com/datapoints/food-delivery-services-grubhub-uber-eats-doordash-postmates/

§ 28% have used food delivery: https://secondmeasure.com/datapoints/food-delivery-services-grubhub-uber-eats-doordash-postmates/

§ Losing money: https://www.businessinsider.com/grubhub-uber-eats-postmates-third-party-food-delivery-is-broken-2020-5


https://www.bikeleague.org/content/national-household-travel-survey-short-trips-analysis

https://www.nerdwallet.com/article/loans/auto-loans/total-cost-owning-car

http://css.umich.edu/factsheets/us-cities-factsheet

https://www.metro-magazine.com/accessibility/news/292870/u-s-commuters-wait-approximately-40-mins-a-day-for-public-transit

https://www.google.com/amp/s/www.cnbc.com/amp/2019/11/12/most-livable-and-affordable-mid-sized-cities-of-2019.html

https://www.forbes.com/sites/sarwantsingh/2019/09/09/the-soon-to-be-200b-online-food-delivery-is-rapidly-changing-the-global-food-industry/

https://secondmeasure.com/datapoints/food-delivery-services-grubhub-uber-eats-doordash-postmates/

https://secondmeasure.com/datapoints/food-delivery-services-grubhub-uber-eats-doordash-postmates/

https://www.businessinsider.com/grubhub-uber-eats-postmates-third-party-food-delivery-is-broken-2020-5

ALTERNATIVE PERFORMANCE MEASURES (NON-IFRS MEASURES)

27

Items marked with a * in this presentation are alternative performance measures. Alternative performance measures are furnished to provide additional information. These non-IFRS performance measures are included in this presentation because the Company believes these statistics are key performance measures that provide investors, analysts and other stakeholders with additional information to assess operating performance on a cash basis. These performance measures do not have a standard meaning within IFRS and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.

“Exit Revenue Run Rate ” and “Revenue Run Rate” are non-IFRS measures reported by MILE that represent forecasted annualized revenue based on the assets deployed for a full 12 months of operations, taking into account seasonal impacts on monthly and quarterly revenue. The Company is not making projections on future revenue or deferred revenue and exit revenue run rate and revenue run rate are not necessarily indicative of the Company’s future earnings.

“Earnings before Interest, Taxes, Depreciation and Amortization” (“EBITDA”) is a non-IFRS measure reported by MILE which is net income or loss from operations as reported in continuing profit and loss, before finance income and expense, tax and depreciation and amortization, as well as other non-cash items including share-based compensation, listing expense and impairment charges.



CHANGING RIDESHARE FOR GOOD.

http://lastmile.holdings/

TSX.V: MILE 28

http://lastmile.holdings/

redefining movement · looking information has been prepared on a reasonable basis, reflecting...

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