SERI - FAAM Overview Sept 2020

Group StructureSBU ACTIVITY

Production and recycling of plastic material ▪ Production of special compounds for

the moudling of boxes and lids for electric accumulators

▪ Production of special compounds for the automotive

▪ Production of special compounds for the moulding and extrusion of pipes and fittings for the thermo-hydro sanitary market

Electric Accumulators ▪ Production and recycling of lead-acid

and li-ion batteries for motive power, storage, starter and special applications

▪Design and construction of plants for the recycling of exhausted batteries

▪ FAAM is carrying out R&D activities through FAAM Research Center

FIB

SERI PLAST

SERI Industrial is a listed company on the MTA. The mission is to accelerate the energetic transition to sustainability and decarbonization, controlling the supply chain of electric accumulators and plastic material

Shareholders and highlights

Seri Industrial is controlled by Industrial, owned by the Civitillo family (founders of SERI)

765 Employees

200 M€ Revenues

14 plants 3 R&D centers

9 operating sites

Industrial S.p.A. 62,60%

Market 20,31%

Neuberger Berman AIFM 17,09%

Highlights Shareholder Base

MilestonesSERI establishment Exide Technologies French

and Spanish plastic moulding activities

acquisition

Acquisition of Lithops by FAAM, an R&D company

active in the development of innovative li-on cells

Upstream integration with the acquisition of Repiombo,

a smelter active in the recycling of exhausted

batteries

SERI Group acquires Teverola complex from Whirlpool Corporation to start up lithium cells production

Reverse merger with Krenergy, a company listed on the MTA

Joint Venture in Argentina for the supply of

lithium carbonate

Rights Issue in July 2018 for Seri Industrial – to fund development projects

Invitalia Determina for 55M€ investment (Lithium

Project)

IPCEI Project for 505 M€ investment

Start up of activities in Poland (plastic business unit)

Start up phase of Teverola production plant for li-ion

batteries

Acquisition of COES Company production of pipes and fittings

ESTABLISHMENT M&A CONSOLIDATION AND GROWTH

Start up of SERI PLANT Division – turnkey plants for the recycling of exhausted

batteries

Start up of PP compounds production from the

recycling of exhausted batteries

Acquisition of Plastam and ICS – for the moulding of plastic components for

batteries

IMI Fondi Chiusi SGR enters in the share capital of Seri

Acquisition of FAAM – a leading company in the

production of lead-acid and li-ion batteries for industrial,

storage and starter applications

Footprint P

RO

DU

CT

R

AN

GE

I N D U S T R I A L F O O T P R I N T

Plants PP CompoundsMoulding of plastic components

SmelterLead Acid Batteries Lithium batteries

ELECTRIC ACCUMULATORS

PLASTIC MATERIAL

Circular Economy – lead acid

LITHIUM PROJECT

Circular Economy: Lithium

LITH

IUM

SEG

MEN

T

CELL PRODUCTION

SUPPLY OF LITHIUM CARBONATE (JV)

ACTIVE MATERIAL PRODUCTION

PRODUCTION AND SALE OF MODULES AND BATTERY PACK

RECYCLING OF EXHAUSTED ACCUMULATORS AND RECOVERY OF ACTIVE MATERIAL

Teverola Plant – present and future

Start up: I Q 2021

37.000 sqm indoor

Capacity: First step 300 MWh

Technology: Gen 1 LFP soft pouch (gen 2 availability too)

55 M€ Investments

Applications: Motive Power, ESS, Public transport, Naval and Defense

Joint Venture in Argentina for the supply of lithium carbonate

Ability to adapt the chemistry used in the realization of the cell (e.g. Automotive)

TEVEROLA 1 TEVEROLA 2

Project timesheet: 2021-2027

42.000 sqm indoor

Capacity: 2,5/3 GWh at the end of the R&D&I project

Technology: Gen 3b and 4 (solid state)

505 M€ of public grant(Capex and Opex)

50 ton/day of battery treatment in the recycling pilot line

Applications: mainly Automotive and storage

Partnership with European players along the supply chain

280.000 sqm of complex

area (80.000 indoor - scalable)

IPCEI

FAAM project has been approved for the production of beyond the state of the art li-ion cells and recycling of end-life li-ion batteries

The grant for FAAM project is 505 M€ on an overall grant of 570 M€ for the Italian Consortium

IMPORTANT PROJECTS OF COMMON EUROPEAN INTEREST

Salzgitter, 2024

France, 2022

Willstät, 2020

Skelleftea, 2021

Teverola, 2020-2023

Wroclaw, 2021

Komarom, 2020

Berlin, 2023

Erfurt, 2022

Asian Manufacturers (mass markets)

Poland, 2023

European Manufacturers

A mediterrean Gigafactory

Production of soft pouch cells based on generation 1 and 2a technology for industrial, storage and special application (2a generation cells)

In addition, Teverola can produce gen 2a/2b cells, suitable for Automotive applications

In Teverola Plant, FAAM is focused on the production 40 Ah pouch battery cells based on gen 1 technology, suitable for industrial applications, ESS and niche markets

Cathode: LFP, NCA Anode: 100 % Carbon

Gen 1

Cathode: NCM111 Anode: 100 % Carbon

Gen 2a

Cathode: NCM532 to NCM622 Anode: 100 % Carbon

Gen 2b

Technology roadmap – Teverola 1

Achievements

Cathode: NMC622 to NMC811 Anode: Carbon + Si (5-10%)

Gen 3a

TEVEROLA 2 will be focused on the production of generation 3a and 3b

Cathode:HE-NCM, HVS Anode: Silicon/carbon

Gen 3b

All-solid-state with Li metal anode;

Conversion materials (Li/S)

Gen 4

Li/O2 (lithium-air)

Gen 5

The R&D phase will be carried out between the end of 2020- 2022 and the mass production and commercialization by the end of 2022/start of 2023

Technology roadmap – Teverola 2

The next step – generation 4 – will be industrialized on 2026

Achievements

• High-V spinels • Li-rich layered oxides • Ni-rich NMC • Hybrid power-energy

R&D Projects on next-gen materials since 2012

CATHODE• Si/C composites

ANODE• Polymer electrolyte

ALL-SOLID-STATE

• Gas production from cells during standard operation or abuse

• Self-healing

SAFETY

BAT4EVER

IPCEI Targets - sustainabilityOne of the objective of FAAM project is to implement the “green footprint” of the production processes by eliminating toxic solvents and by reducing the CO2 equivalent produced by the li-ion cells and modules production

FAAM project will reduce the energy required for those process by developing with its industrial equipment manufacturer partners more efficient solutions such as (but not limited to) reversible formation system and steam based coating equipment

In addition FAAM is currently trying to work as much as possible with local European Suppliers to reduce the global CO2 impact by limiting material and equipment transportations. Through the project and collaborations between EU players, the strategy will be more concreteFAAM aim is to develop and industrialize a solid state lithium-ion cell with generation 3b or higher innovative active materials, improving current technologies performance characteristics, cost and green footprint.

FAAM targets to develop water-based formulations for both electrodes (cathode and anode), increasing the safety and reducing the environmental impact of the production processes, in particular

Anode FAAM has a long experience, having developed water-base formulations for all the products that are going to be produced in its plants

Cathode Water-based application to cathode materials has several challenges due to instability of the most of those products in aqueous environment