Einride (LEGT) investor presentation: $92M ARR, $1.35B valuation cited
Rhea-AI Filing Summary
Einride provided an investor presentation on a proposed business combination with Legato Merger Corp. III that outlines its electric, digital and autonomous road freight platform, customer metrics, growth pipeline and transaction economics supporting a de-SPAC combination.
The presentation highlights $49M run-rate operational revenue, $92M ARR in signed customer contracts, $637M capital raised to date, a projected $300M cash balance at closing, and an illustrative pre-money equity value of $1.35B.
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Insights
Presentation frames Einride as a technology-led freight operator entering public markets via a Legato de-SPAC.
The deck lays out operational metrics—$49M run-rate operational revenue and $92M ARR in signed contracts—and capital plans, including $113M committed PIPE and an expected $300M cash balance at close. The transaction structure and sources/uses are presented with an illustrative $1.35B pre-money equity value.
Key dependencies include final F-4/proxy disclosures, actual redemption levels, and conversion/treatment of cross-over and PIPE instruments. Subsequent SEC filings will provide definitive terms and auditor-verified financials.
Key Figures
Key Terms
FCaaS financial
JBP commercial
Saga platform technical
ODD technical
PIPE financial
Filed by Einride AB
Pursuant to Rule 425 under the Securities Act of 1933,
as amended, and deemed filed under Rule 14a-12
under the Securities Exchange Act of 1934, as amended
Subject Company: Legato Merger Corp. III
Commission File No.: 001-41945
The following investor presentation was made available on April 8, 2026.
The n e xt s t ep in t he e v olution of r oad f r eight. EINRIDE 2026 SWEDEN
Disclaimer (1/3) Disclaimers and O t her Impo r tant In f ormation This p r esentation, including a n y accompa n ying oral p r esentation ( this “P r esentation”), has been p r epa r ed solely f or in f ormational purposes in connection wi t h a po t ential business combination ( t he “P r oposed Business Combination”) bet w een Lega t o Me r ger Corp. III, a special purpose acquisition compa n y (“Lega to”), and Einride AB ( t he “Compa n y ” or “Einride” and, t oge t her wi t h Lega t o, t he “Pa r ties”). By accepting r eceipt of t his P r esentation, t he r ecipient will be deemed t o h a v e ag r eed t o t he obligations and r estrictions set out bel o w . This P r esentation should not be construed as a p r ospectus or of f ering document and y ou should not r ely upon it or use it t o f orm t he definiti v e basis f or a n y decision, contract, commitment or action wha t so e v e r , wi t h r espect t o a n y p r oposed transaction or o ther wise. This P r esentation shall not constitu t e an of f er t o sell, or a solicitation of an of f er t o bu y , or a r ecommendation t o pu r chase, a n y securities in a n y jurisdiction, or t he solicitation of a n y p r o x y , v o t e, consent or app ro val in a n y jurisdiction in connection wi t h t he P r oposed Business Combination, nor shall the r e be a n y sale, issuance or trans f er of a n y securities in a n y jurisdiction whe r e, or t o a n y person t o whom, such of f e r , solicitation or sale m a y be unlawful under t he laws of such jurisdiction. This P r esentation does not constitu t e ei t her advice or a r ecommendation r ega rding a n y securities. The communication of t his P r esentation is r estric t ed b y law; it is not in t ended f or distribution t o, or use b y a n y person in, a n y jurisdiction whe r e such distribution or use would be contrar y t o local law or r egulation. The r ecipient ackn o wledges that it is (a) awa r e that t he Unit ed Sta t es securities laws p rohibit a n y person who has ma t erial non - public in f ormation concerning a compa n y f r om pu r chasing or selling securities of such compa n y or f r om communicating such in f ormation t o a n y o ther person under ci r cumstances in which it is r easonably f o r eseeable that such person is li k ely t o pu r chase or sell such securities, and ( b ) f amiliar wi t h t he Securities E x change Act of 193 4 , as amended, and t he rules and r egulations p r omulga t ed the r eunder ( collecti v el y , t he “E x change Ac t ”), and that t he r ecipient will neit her use, nor cause a n y t hi r d par ty t o use, t his P r esentation or a n y in f ormation contained he rein in contr a v ention of t he E x change Act, including, wi t hout limitation, Rule 10b - 5 the r eunde r . No r ep r esentations or warranties, e xp r ess or implied, a r e gi v en in, or in r espect o f , t his P r esentation . This P r esentation is subject t o updating, completion, r e vision, v erification and fu r t her amendment . None of t he Pa r ties or t heir r especti v e affiliat es has au t hori z ed a n y one t o p r ovide in t e r es t ed par ties wi t h additional or dif f e r ent in f ormation . No securities r egula t or y au t hority has e xp r essed an opinion about t he securities discussed in t his P r esentation or de t ermined if t his P r esentation is trut hful, accura t e or comple t e, and it is an of f ense t o claim o ther wise . The Pa r ties under ta k e no obligation t o r ecipien t s of t his P r esentation t o upda t e a n y in f ormation contained he r ein, or t o advise such r ecipien t s upon becoming awa r e that a n y in f ormation contained he rein is not accura t e . None of Einride, Lega t o or a n y of t heir r especti v e subsidiaries, equity holders, affiliat es, r ep r esentati v es, par tners, members, di r ec t ors, officers, empl o y ees, advisors or agen t s ( collecti v el y , “ R ep r esentati ves”) ma k es a n y r ep r esentation or warrant y , e xp r ess or implied, as t o t he accura c y or comple t eness of t he in f ormation contained he rein or a n y o ther writ t en, oral or o ther communications transmit t ed or o ther wise made a v ailable t o t he r ecipient in t he course of i t s e v aluation of t he P r oposed Business Combination, and no t hing contained he rein shall be r elied upon as a p r omise or r ep r esentation whe ther as t o t he past or futu r e per f ormance. None of t he Pa r ties nor a n y of t heir R ep r esentati v es shall be r esponsible or liable f or a n y di r ect, indi r ect or consequential loss or loss of p r ofit arising f r om t he use of t his P r esentation, i t s con t en t s, i t s accura c y or sufficien c y , i t s omissions, i t s er r ors, r eliance on t he in f ormation contained wi t hin it, or on opinions communica t ed in r elation the r e t o or o ther wise arising in connection the r e wi t h. In addition, t he in f ormation contained he rein does not purpo r t t o contain all of t he in f ormation that m a y be r equi r ed t o e v alua t e t he P r oposed Business Combination. The in f ormation contained in t his P r esentation is p r ovided as of t he da t e he r eof and m a y change, and none of t he Pa r ties nor a n y of t heir R ep r esentati v es under ta k es a n y obligation t o upda t e such in f ormation, including in t he e v ent that such in f ormation becomes inaccura t e or incomple t e. The general e xplanations included in t his P r esentation cannot add r ess, nor is in t ended t o add r ess, y our specific i n v estment objecti v es, financial situations or financial needs. R ecipien t s of t his P r esentation a r e not t o construe i t s con t en t s, or a n y prior or subsequent communications f r om or wi t h a n y Pa r ty or t heir r especti v e R ep r esentati v es, as i n v estment, legal or tax advice. In addition, t his P r esentation does not purpo r t t o be all - inclusi v e or t o contain all of t he in f ormation that m a y be r equi r ed t o ma k e a full analysis of t he Pa r ties and t he P r oposed Business Combination. R ecipien t s of t his P r esentation should r ead t he definiti v e documen t s f or P r oposed Business Combination and ma k e t heir o wn e v aluation of t he Pa r ties and t he P r oposed Business Combination and of t he r el e v ance and adequa c y of t he in f ormation and should ma k e such o ther i n v estigations as t h e y deem necessar y . A n y decision t o r ely on t he in f ormation contained in t his P r esentation is t he sole r esponsibility of t he R ecipient and neit her Pa r ty will be r esponsible f or a n y loss incur r ed b y t he R ecipient as a r esult of a n y actions ta k en b y t he R ecipient r elying upon t he in f ormation he r ein.
Disclaimer (2/3) F or wa r d - Looking Sta t emen t s This P r esentation contains cer tain f or wa r d - looking sta t emen t s wi t hin t he meaning of t he U .S. f ederal securities laws wi t h r espect t o t he Pa r ties and t he P r oposed Business Combination, including e xpectations, hopes, belie f s, in t entions, plans, p r ospec t s, financial r esul t s of stra t egies r ega rding t he Compa n y , t he P r oposed Business Combination and sta t emen t s r ega rding t he anticipa t ed benefi t s and timing of t he completion of t he P r oposed Business Combination, t he add r essable mar k et f or Einride ʼ s solutions and se r vices, t he competiti v e and r egula t or y landscape f or Einride ʼ s solutions and se r vices, plans and use of p r oceeds, objecti v es of management f or futu r e operations of t he Compa n y , t he upside po t ential and oppor tunity f or i n v es t ors, Einride ʼ s g r o w t h oppor tunities, t echnological and mar k et t r ends, futu r e financial condition and per f ormance and e xpec t ed financial impac t s of t he P r oposed Business Combination, t he satis f action of closing conditions t o t he P r oposed Business Combination and t he l ev el of r edemptions of Lega t o ʼ s public sha r eholders, and t he Compa n y ʼ s e xpectations, in t entions, stra t egies, assumptions or belie f s about futu r e e v en t s, r esul t s at operations or per f ormance or that do not solely r ela t e t o his torical or cur r ent f ac t s. These f or wa r d - looking sta t emen t s generally a r e identified b y t he w o r ds “beli ev e , ” “p r oject , ” “ e xpect , ” “anticipa t e , ” “estima t e , ” “in t end , ” “stra t eg y , ” “futu r e , ” “oppo r tunit y , ” “po t ential , ” “plan , ” “m a y , ” “should , ” “will , ” “ w ould , ” “will be , ” “will continue , ” “will li k ely r esult , ” and similar e xp r essions. F or wa r d - looking sta t emen t s a r e p r edictions, p r ojections and o ther sta t emen t s about futu r e e v en t s or conditions that a r e based on cur r ent e xpectations and assumptions and, as a r esult, a r e subject t o risks and unce r tainties. Ma n y f ac tors could cause actual futu r e e v en t s t o dif f er ma t erially f r om t he f or wa r d - looking sta t emen t s in t his P r esentation, including, but not limit ed t o: (1) t he occur r ence of a n y e v ent, change or o ther ci r cumstances that could gi v e rise t o t he t ermination of definiti v e ag r eemen t s wi t h r espect t o t he P r oposed Business Combination; (2) t he ou t come of a n y legal p r oceedings that m a y be institu t ed against Lega t o, Einride, t he combined compa n y or o t hers f oll o wing t he announcement of t he P r oposed Business Combination and a n y definiti v e ag r eemen t s wi t h r espect the r e t o; (3) t he amount of r edemption r eques t s made b y Lega t o public sha r eholders and t he inability t o comple t e t he P r oposed Business Combination due t o t he f ailu r e t o obtain app ro val of t he sha r eholders of Lega t o or Einride, t o obtain financing t o comple t e t he transaction or t o satisfy o ther conditions t o closing; (4) risks r ela t ed t o t he scaling of t he Compa n y ʼ s business and t he timing of e xpec t ed business miles t ones; (5) t he ability t o meet s t ock e x change listing standa r ds f oll o wing t he consummation of t he P r oposed Business Combination; (6) t he risk that t he transaction disrup t s cur r ent plans and operations of t he Compa n y as a r esult of t he announcement and consummation of t he P r oposed Business Combination; (7) t he ability t o r ecogni z e t he anticipa t ed benefi t s of t he P r oposed Business Combination, which m a y be af f ec t ed b y , among o ther t hings, competition, t he ability of t he combined compa n y t o g r o w and manage g r o w t h p rofitabl y , maintain r elationships wi t h cus t omers and suppliers and r etain i t s management and k e y empl o y ees; (8) cos t s r ela t ed t o t he transaction; (9) risks associa t ed wi t h changes in laws or r egulations applicable t o t he Compa n y ʼ s solutions and se r vices and t he Compa n y ʼ s in t ernational operations; (10) t he possibility that t he Compa n y or t he combined compa n y m a y be ad v ersely af f ec t ed b y o ther economic, geopolitical, business, and/or competiti v e f ac t ors; (11) supply shor tages in t he ma t erials necessar y f or t he p r oduction of Einride ʼ s solutions; (12) negati v e pe r ceptions or publicity of t he Compa n y; (13) risks r ela t ed t o w orking wi t h t hi r d - par ty manu f actu r ers f or k e y componen t s of Einride ʼ s solutions; (14) t he t ermination or suspension of a n y of Einride ʼ s contrac t s or t he r eduction in coun t erpa r ty spending; (15) t he ability of Einride or t he combined compa n y t o issue equity or equity - lin k ed securities in connection wi t h t he P r oposed Business Combination or in t he futu r e; and (16) t hose risk f ac tors discussed in documen t s of t he Compa n y , or Lega t o filed, or t o be filed, wi t h t he U .S. Securities and E x change Commission ( t he “SEC”). The f o r egoing list of risk f ac tors is not e xhausti v e. Y ou should ca r efully consider t he f o r egoing f ac tors and t he o ther risks and unce r tainties described in t he “Risk Fac t ors” section in t he final p r ospectus of Lega t o da t ed as of F ebruar y 5 , 20 2 4 and filed b y Lega t o wi t h t he SEC on F ebruar y 6 , 20 2 4 , Lega t o ʼ s Qua r t erly R epo r t s on F orm 10 - Q , Lega t o ʼ s Annual R epo r t on F orm 10 - K and t he r egistration sta t ement on F orm F - 4 and p r o xy sta t ement/p r ospectus that will be filed b y t he Compa n y , and o ther documen t s filed or t o be filed b y Lega t o and Einride f r om time t o time wi t h t he SEC, as w ell as t he list of risk f ac tors included in t he Appendix he r e t o. These filings and t he Appendix do or will identify and add r ess o ther impo r tant risks and unce r tainties that could cause actual e v en t s and r esul t s t o dif f er ma t erially f r om t hose contained in t he f or wa r d - looking sta t emen t s. The r e m a y be additional risks that neit her Lega t o or t he Compa n y p r esen t ly kn o w or that Lega t o and t he Compa n y cur r en t ly beli e v e a r e imma t erial that could also cause actual r esul t s t o dif f er f r om t hose contained in t he f or wa r d - looking. F or wa r d - looking sta t emen t s speak only as of t he da t e t h e y a r e made. R eaders a r e cautioned not t o put undue r eliance on f or wa r d - looking sta t emen t s, and none of t he Pa r ties or a n y of t heir R ep r esentati v es assumes a n y obligation and do not in t end t o upda t e or r e vise t hese f or wa r d - looking sta t emen t s, whe ther as a r esult of n e w in f ormation, futu r e e v en t s, or o ther wise. None of t he Pa r ties or a n y of i t s R ep r esentati v es gi v es a n y assurance that a n y of Lega t o or t he Compa n y will achi e v e i t s e xpectations. The inclusion of a n y sta t ement in t his P r esentation does not constitu t e an admission b y Lega t o, t he Compa n y or a n y o ther person that t he e v en t s or ci r cumstances described in such sta t ement a r e ma t erial.
Disclaimer (3/3) Industr y and Mar k et Data This P r esentation has been p r epa r ed b y t he Pa r ties and t heir R ep r esentati v es and includes mar k et data and o ther statistical in f ormation f r om t hi r d - par ty indust r y publications and sou r ces as w ell as f r om r esea r ch r epo r t s p r epa r ed f or o ther purposes and f r om filings of public companies in t he f r eight indust r y . Al t hough t he Pa r ties beli e v e t hese t hi r d - par ty sou r ces a r e r eliable as of t heir r especti v e da t es, none of t he Pa r ties or a n y of t heir r especti v e R ep r esentati v es has independen t ly v erified t he accura c y or comple t eness of t his in f ormation and cannot assu r e y ou of t he data ʼ s accura c y or comple t eness. Some data a r e also based on t he Pa r tiesʼ good f ai t h estima t es, which a r e deri v ed f r om bo th in t ernal sou r ces and t he t hi r d - par ty sou r ces. None of t he Pa r ties or t heir R ep r esentati v es ma k e a n y r ep r esentation or warranty wi t h r espect t o t he accura c y of such in f ormation. The Pa r ties and t heir r especti v e R ep r esentati v es e xp r essly disclaim a n y r esponsibility or liability f or a n y damages or losses in connection wi t h t he use of such in f ormation he r ein. Acco rdingl y , such in f ormation and data m a y not be included in, m a y be adjus t ed in, or m a y be p r esen t ed dif f e r en t ly in, a n y r egistration sta t ement, p r ospectus, p r o xy sta t ement or o ther r epo r t or document t o be filed or furnished b y Lega t o or t he Compa n y , or a n y o ther r epo r t or document t o be filed b y t he combined compa n y f oll o wing completion of t he P r oposed Business Combination wi t h t he SEC. T r ademarks and In t ellectual P r ope r ty All trademarks, se r vice marks, and trade names of a n y par ty or t heir r especti v e affiliat es used he rein a r e trademarks, se r vice marks, or r egis t e r ed trade names of such par ty or i t s r especti v e affiliat e, r especti v el y , as no t ed he r ein. A n y o ther p r oduct, compa n y names, or logos mentioned he rein a r e t he trademarks and/or in t ellectual p r ope r ty of t he r especti v e o wners, and t heir use is not alone in t ended t o, and does not alone impl y , a r elationship wi t h a n y par t y , or an endorsement or sponsorship b y or of a n y par t y . Solely f or co n v enience, t he trademarks, se r vice marks and trade names r e f er r ed t o in t his P r esentation m a y appear wi t hout t he ®, TM or SM symbols, but such r e f e r ences a r e not in t ended t o indica t e, in a n y w a y , that a n y par ty or t he applicable righ t s o wner will not asse r t, t o t he fullest e x t ent under applicable la w , t heir righ t s or t he right of t he applicable o wner or licensor t o t hese trademarks, se r vice marks and trade names. A dditional In f ormation and Whe r e t o Find It In connection wi t h t he P r oposed Business Combination, Einride in t ends t o file a r egistration sta t ement on F orm F - 4 , which will include a document that se r v es as a joint p r ospectus and p r o xy sta t ement, r e f er r ed t o as a p r o xy sta t ement/p r ospectus. A p r o xy sta t ement/p r ospectus will be sent t o all Lega t o sha r eholders. Lega t o and Einride will also file o ther documen t s r ega rding t he P r oposed Business Combination wi t h t he SEC. Be f o r e making a n y v oting or i n v estment decision, i n v es t ors, sha r eholders and o ther in t e r es t ed persons of Lega t o a r e u r ged t o r ead t he r egistration sta t ement, t he p r o xy sta t ement/p r ospectus and all o ther r el e v ant documen t s filed or that will be filed wi t h t he SEC in connection wi t h P r oposed Business Combination ca r efully and in t heir enti r ety as t h e y become a v ailable because t h e y will contain impo r tant in f ormation about t he P r oposed Business Combination. I n v es t ors and security holders will be able t o obtain f r ee copies of t he r egistration sta t ement, t he p r o xy sta t ement/p r ospectus and all o ther r el e v ant documen t s filed or that will be filed wi t h t he SEC b y Lega t o and Einride t h r ough t he w ebsi t e maintained b y t he SEC at ww w .sec.g o v . The documen t s filed b y Lega t o and t he Compa n y wi t h t he SEC also m a y be obtained f r ee of cha r ge, once a v ailable, on t he SEC ʼ s w ebsi t e at ww w .sec.g o v or b y di r ecting a r equest t o: Lega t o Me r ger Corp. III, 77 7 Thi r d A v enue, 37 th Floo r , N e w Y ork, NY 1001 7 . P a r ticipan t s in Solicitation Lega t o, t he Compa n y and t heir r especti v e di r ec tors and e x ecuti v e officers m a y be deemed under SEC rules t o be par ticipan t s in t he solicitation of p r o xies f r om Lega t o ʼ s sha r eholders in connection wi t h t he P r oposed Business Combination. A list of t he names of such di r ec tors and e x ecuti v e officers, and in f ormation r ega rding t heir in t e r es t s in t he P r oposed Business Combination and t heir o wnership of Lega t o ʼ s securities a r e, or will be, contained in Lega t o ʼ s filings wi t h t he SEC. Additional in f ormation r ega rding t he in t e r es t s of t he persons who m a y , under SEC rules, be deemed par ticipan t s in t he solicitation of p r o xies of Lega t o ʼ s sha r eholders in connection wi t h t he P r oposed Business Combination, including and t he names and in t e r es t s of t he Compa n y ʼ s di r ec tors and e x ecuti v e officers, will be set f o r t h in t he p r o xy sta t ement/p r ospectus on F orm F - 4 f or t he P r oposed Business Combination, which is e xpec t ed t o be filed b y t he Einride wi t h t he SEC. Y ou m a y obtain f r ee copies of t hese documen t s as described in t he p r eceding paragraph
K e y members of t he t eam R oozbeh Charli Chief E x ecuti v e Officer Henrik G r een Chief T echnology Officer & Gene r al Manager Einride Aut onomous Eric R osen feld Chief S P A C Officer - Lega t o Me r ger Corp. III Anubh a v V erma Chief Financial Officer
No t es: Data as of December 202 5 , cus t omer count as of F ebruar y 202 6 , unless other wise no t ed. (1) As of F ebruar y 202 6 . Includes $113M in PIPE capital. F u rt her includes app r o xima t ely $100M in c r oss - o v er financing raised in 2025 f r om e xisting and n ew institutional i n v es tors in connection wit h t he S P A C transaction, a sha r e of which r ela t es t o subo r dina t ed co n v e r tible debt which has been or is e xpec t ed t o be co n v e r t ed in t o equit y. (2) JBPs a r e non - binding r oadmaps joint ly d e v eloped wit h Einride's cus t omers f or fu rt her electrification of t heir r oad transpo r t operations o v er a futu r e period of time. P o t ential ARR is calcula t ed based on t he estima t ed number of CET and cab - less au t onomous trucks in JBPs multiplied b y estima t ed ARR per v ehicle, adjus t ed t o e x clude t he al r eady - co n v e r t ed po r tions of t he JBPs. JBPs do not obliga t e Einride's cus t omers t o negotia t e, or en t er in t o, binding ag r eemen t s on a n y t erms or at all. Actual ARR deri v ed f r om JBPs, t o t he e x t ent a n y is co n v e r t ed, m a y v a r y ma t erially f r om t he po t ential ARR set f o r t h in t his p r esentation. (3) Bet w een Januar y 20 2 4 and December 202 5 . (4) In acco r dance wit h S L As, Q1 202 5 . (5) Adjus t ed annuali z ed mont hly a v erage Q4ʼ25 USD - equi v alent r e v enue f r om operational cus t omer contrac t s, based on unaudi t ed financial per f ormance. (6) R ep r esen t s USD - equi v alent ARR e xpec t ed f r om signed cus t omer contrac t s as of F ebruar y 202 6 . This amount is subject t o ce r tain conditions, termination righ t s and management assumptions. Actual ARR f r om Einride's signed cus t omer contrac t s m a y v a r y ma t erially f r om t he amount set f o r t h in t his p r esentation. 3 , 300+ Dri v erless hours in cont r ac t ed cus t omer op s (3) 46 0 , 000+ E x ecu t ed shipmen t s 9 9 . 7% On - time pe r f ormance (4) 26M k g+ CO e aba t ed 2 $49M Run - r a t e ope r ational r e v enue (5) $92M ARR in signed cus t omer cont r ac t s (6) K e y cus t omers 1 4 , 90 0 , 000+ Electric miles dri v en 7 Countries $637M Capital r aised t o da t e (1) 30 Number of cus t omers $800M+ P o t ential long - t erm ARR in Joint Business Plan (JBPs) (2) Backlog & pipeline K e y numbers Select e xisting i nv es t ors Oppo r tunity ov e r vi e w Int r oduction t o Einride global leader digital, electric, and au t onomous r oad f r eigh t , opera t es in No r t h America and EMEA wi t h 30 cu going public t h r ough a de - S P A C me r ger wi t h Lega t o Me r ger Corp. III (LE G T) $213M in commit t ed financin g (1) ov ersubscribed $113M PIPE
P r oprieta r y AI p o w e r ed technology plat f orm driving cost s a vings f or f r eight solutions
No t es: (1) Statista: Si z e of t he global logistics indust r y , Fr eightw a v es: trucking accounting f or 43% of t he sec t o r ʼ s total annual r e v enue. (2) Eu r ostat & American T rucking Association. (3) American T rucking Association & Mc K ins e y . (4) Utilization as a function of fill ra t e, dead head and operating hours, asset up - time and speed. Based on data f r om First Call Logistics, OOI D A, FleetOwne r , Fr eigh t W a v es, A CEEE, Einride analysis Unconsolida t ed 90% of e xisting asset o wners h a v e fleet si z e <10 truck s (3) Existing ecosys t em is highly fragmen t ed and charac t eri z ed b y o wne r - opera t ors A t t he f o r ef r ont of disrupting a massi v e but inefficient lega c y sys t em, c r eating a his t oric oppo r tunity in t he global f r eight mar k et $ 4 . 6 trillion Global r oad f r eight mar k et (1) $1.2 trillion U .S. and EU he a vy - duty (>20 GVW) r oad f r eigh t (1)(2) Inefficient 11% utilization in t he U .S. r oad f r eight indust r y (4) L o w l e v els of utilization and o v e r - r eliance on rudimenta r y sys t ems dri v es inefficiencies and comp r essed ma r gins A trillion dollar mar k et oppo r tunity t r ans f orming t he indust r y Indust r y pain poin t s Massi v e mar k et oppo r tunity
A turn k e y ope r ation add r essing cus t omer needs F ully - managed, electrified, au t onomous - r eady f r eight m o v ement ser vice at competiti v e prices Ope rational planning softwa r e Electric v ehicles and dri v ers Operational planning softwa r e all o wing f or efficient depl o yment of electric, digital and au t onomous f r eight solutions V ehicles sou r ced f r om leading OEMs, including BY D , Daimle r , D A F , P e t erbilt, Scania and SANY Cha r ging inf r astructu r e Cha r ging infrastructu r e depl o y ed stra t egically t o enable cost efficient electric operations F ully au t onomous In - house d e v eloped au t onomous capabilities wi t h a purpose built cab - less au t onomous electric v ehicle AI / T echnology Plat f orm All - inclusi v e ta k e - o r - p a y cont r act t o ship cus t omers' goods
No t es: As per December 2025 (1) P er management kn o wledge (2) Pilot p r ogram launched in 2022, and operations began in 202 3 . (3) Not counting sel f - driving y a r d trac t ors and shif t ers Chassis cont r act manu f actu r er Softwa r e stack In - House Einride ʼ s cab - less au t onomous trucks h a v e been in acti v e ope r ations since 202 2 (2 ) , wit h a g r o wing fleet ac r oss n e w and e xisting cus t omers First in t he w orld t o depl o y a cab - less au t onomous truck wi t h a cus t omer in acti v e operations ( U .S. depl o yment) (1)(2) 2022 Uni t ed Sta t es: GE Appliances Eu r ope: Apo t ea (S w edish online r etailer) Middle East: Continued g r o w t h wi t h DP W orld t h r ough t he la r gest he a vy - dut y , cab - less truck installation t o be depl o y ed in t he UAE t o da t e (1)(3) T od a y First in t he w orld t o r ecei v e a permit t o opera t e on a public r oad (EU depl o yment ) (1) K e y supplier p a r tners Cur r ent ope r ating per mi t s Necessar y permi t s and app r o v als in place, incl. NHTSA and T ranspo r t sty r elsen The Einride cab - less au t onomous truck Au t ono m y has arri v ed – wit h ~ 300 FTEs, of which ~100 engineers a r e dedica t ed t o Einride's au t onomous ope r ation, t he Compa n y has one of t he most ad v anced of f erings in t he mar k et V ehicle in f o 2019 10
T a r geting dif f e r ent use cases and cus t omers f or au t onomous f r eight Long - haul Hub - t o - Hub T erminal - t o - Hub Sho r t - haul Fac to r y - t o - W a r ehouse W a r ehouse - to - Hub T erminal - t o - T erminal Einride Dri v er Plat f orm / Saga AI V ehicle agnostic au t onomous dri v e softwa r e license and logistics optimization technology Scalable SaaS business model Setup & cus t omer suppo r t Long - t erm technology pa r tner De f ense Po r t R etail Industrial Civilian (OEMs, Couriers e t c.)
T echnology st r a t egy builds on purpose - built cab - less au t onomous trucks combined wit h p r oprieta r y Einride Dri v er Einride Dri v er Cont r ol T ow er F ully agnostic t o v ehicles, use cases, and sec t ors Cab - Less Au t onomous T rucks Einride Au t onomousʼ P r oduct O v e r vi e w Sa f ety Case Sensors & Compu t e AD Softwa r e
Einride ʼ s au t onomous machine learning stack c o v ers end - t o - end AD functionalities No t e: (1) Cur r ent ly under d e v elopment. (2) ODD = Operational design domain Of f ering consis t ent pe r f ormance ac r oss ODDs (2) , coupled wi t h speciali z ed ODD - class models t o ensu r e f as ter and Depl oy able and sa f e due t o: 1) Explainability 2) R edundan c y in t he secondar y rule - based softwa r e wi t h a ma tching degradation concept Each pa r t of t he E2E ML model of f ers t he possibility t o h a v e i t s output moni t o r ed and int erp r e t ed, t o ans w er w h y it made a specific decision E2E ML all the w a y F r om sensor input t o trajec t o r y output and v alidation, l ev eraging flee t - scale data v olumes in high - v ariety scenarios Moni t o r ed & in t e r p r e t ed output La r ge f oundational models Comme r ciall y depl o y able & sa f e AD Softwa r e Sensors & Compu t e Sa f ety Case GNSS RTK V ehicle motion sensors Lidar Came r a Radar Secondar y rule - based Prima r y E2E ML (1) E x amples of e xplainable output: P edestrian ahead, slo wing d o wn High - l e v el AD softwa r e a r chi t ectu r e Einride au t onomousʼ ML app r oach
T op tier sa f ety standa r ds r esulting in z e r o t r affic inciden t s and deli v ering st r ong r egula t or y pa r tnerships No t es: (1) T o t he best of Managemen t ʼ s kn o wledge (2) Engagemen t s include sa f ety v alidation, t echnical in t egration, and infrastructu r e coo r dination Sa f ety case built on ISO standa r ds, v erified b y t w o independent audi t s f r om S w eden ʼ s R esea r ch Institu t es Bespo k e v ehicle plat f orm wi t h dual - r edundant s t eering/braking, ASIL D 48V s t eering, and r edundant p o w e r train P r o v en sa f ety r eco r d wi t h z e r o traffic inciden t s ac r oss all au t onomous operations Secu r ed first NHTSA permit f or au t onomous, cabless f r eight on U .S. public r oad s (1) Obtained firs t - o f - t hei r - kind public r oad permi t s in S w eden, Belgium, and Nor w a y , mo r e than a n y o t her Eu r opean opera t or (1) I n vit ed b y Eu r opean g o v ernmen t s t o shape r egulations and lead c r oss - bo r der demo p r ojec t s Pa r tnering wi t h UAE R T A t o enable first au t onomous f r eight operations aligned wi t h Vision 2031 and Gr een Agenda 203 0 (2) Earning r egula t o r y trust… … v alida t ed b y class - leading sa f ety case
Existing cus t omers p r esent enormous g r o w t h oppo r tunity No t es: Data as of December 202 5 , cus t omer count as of F ebruar y 202 6 , unless other wise no t ed. (1) Adjus t ed annuali z ed mont hly a v erage Q4ʼ25 USD - equi v alent r e v enue f r om operational cus t omer contrac t s, based on unaudi t ed financial per f ormance. (2) R ep r esen t s USD - equi v alent ARR e xpec t ed f r om signed cus t omer contrac t s as of F ebruar y 202 6 . This amount is subject t o ce r tain conditions, termination righ t s and management assumptions. Actual ARR f r om Einride's signed cus t omer contrac t s m a y v a r y ma t erially f r om t he amount set f o r t h in t his p r esentation. (3) JBPs a r e non - binding r oadmaps joint ly d e v eloped wit h Einride's cus t omers f or fu rt her electrification of t heir r oad transpo r t operations o v er a futu r e period of time. P o t ential ARR is calcula t ed based on t he estima t ed number of CET and cab - less au t onomous trucks in JBPs multiplied b y estima t ed ARR per v ehicle, adjus t ed t o e x clude t he al r eady - co n v e r t ed po r tions of t he JBPs. JBPs do not obliga t e Einride's cus t omers t o negotia t e, or en t er in t o, binding ag r eemen t s on a n y t erms or at all. Actual ARR deri v ed f r om JBPs, t o t he e x t ent a n y is co n v e r t ed, m a y v a r y ma t erially f r om t he po t ential ARR set f o r t h in t his p r esentation. Uni t ed sta t es EMEA U AE subsidies V e r tical ❖ of countries in ope r ations Run - r a t e ope r ational r e v enue (1) ARR in signed cus t omer cont r ac t s (2) P o t ential long - t erm ARR in JBPs (3) Cus t omer e xamples R etail 4 $11M $14M $90M+ Consumer Goods 5 $21M $30M $280M+ Industrials 3 $7M $6M $ 7 0M+ T otal 7 $49M $92M $800M+ Einride ʼ s geographical e xpansion ac r oss t he EMEA dri v en b y bo th n e w and e xisting cus t omers Mar k et f ootprint 30 Signed and/or operational cus t omers Einride ʼ s e xpansion in t he Sou t h & Sou t heast r eflec t s true sustainable g r o w t h, dri v en b y cus t omer demand, not manda t es or $360M+ $42M $10M 4 Logistics
Cus t omer case study: No t es: Data as of December 2025 unless other wise no t ed. (1) JBPs a r e non - binding r oadmaps joint ly d e v eloped wit h Einride's cus t omers f or fu rt her electrification of t heir r oad transpo r t operations o v er a futu r e period of time. P o t ential ARR is calcula t ed based on t he estima t ed number of CET and cab - less au t onomous trucks in JBPs multiplied b y estima t ed ARR per v ehicle, adjus t ed t o e x clude t he al r eady - co n v e r t ed po r tions of t he JBPs. JBPs do not obliga t e Einride's cus t omers t o negotia t e, or en t er in t o, binding ag r eemen t s on a n y t erms or at all. Actual ARR deri v ed f r om JBPs, t o t he e x t ent a n y is co n v e r t ed, m a y v a r y ma t erially f r om t he po t ential ARR set f o r t h in t his p r esentation. (2) Data f r om GE Appliances au t onomous operations bet w een Januar y 20 2 4 and December 202 5 . (3) R ep r esen t s USD - equi v alent ARR e xpec t ed f r om signed cus t omer contrac t s as of December 202 5 . This amount is subject t o ce r tain conditions, termination righ t s and management assumptions. Actual ARR f r om Einride's signed cus t omer contrac t s m a y v a r y ma t erially f r om t he amount set f o r t h in t his p r esentation. (4) 2 cab - less au t onomous trucks in operations as of December 202 5 . (5) P er management ʼ s best kn o wledge. Einride and GE Appliances made his t or y t oge t he r , putting t he first au t onomous he a vy - duty electric v ehicle on a U .S. public r oa d (5) 61 , 000 Uni t s deli v e r ed + 1, 7 00+ T onne - Km tr anspo r t ed ~94% Comple t ed in AD mode Cab - less au t onomous truck depl o yment sta t s (2) U .S. first au t onomous electric truck on a public r oad 1 , 000+ Shipmen t s deli v e r ed ~99% Deli v e r y p r ecision 19 CE T s , 2 cab - less au t onomous trucks Cur r ent signed and/or ope r ational depl o ymen t s (4) ~$55M P o t ential long - t erm ARR in Joint Business Plan (1) ~$5M T otal ARR in signed cont r ac t s (3)
Data sou r ces The "bot t om" l a y er Models & p r oprieta r y algori t hms The "middle" l a y er Cus t ome r - f acing digital p r oduc t s & se r vices The " t op" l a y er The Saga plat f orm le t s Einride e x ecu t e t he same r ou t es wit h f e w er trucks , less p o w er , and at a l o w er price point Dat a f r om mu l tiple sou r ces unde r pins Einr id e ʼ s AI - p o w e r ed pla t f o r m, c r e a t es actionable plans and simplif ies elect r ic ope r ations Unlocking t he po t ential of AI f or cus t omers Digital f r eight plat f orm Electric v ehicle r ou t e planning optimi z er ( e VRP) P r edicti v e ene r gy consumption model Cost and emission model Superior data Einride's t ech stack all o ws it t o optimi z e cus t omers' e xisting operations t h r ough imp r o v ed utilization, r esulting in r educed cos t s The Saga plat f orm An AI - p ow e r ed t echnology plat f orm – Einride's edge in logistics planning The Saga plat f orm Plat f orm l ay ers
Einride ʼ s f r eight plat f orm optimi z es electric r oad f r eight wit h AI Solv ecosyst f or a mon t hly f ee R dir cust educes t he o v e r all cost of transition t h r ough operational efficiencies, ect/indi r ect cost r eduction, and pu r chasing economies of scale vs. omers sou r cing individually 2 3 R em o v es logistical compl e xity f r om cus t omersʼ electric transition, 4 Inc r eases quality of ope r ations t h r ough t he digital f r eight plat f orm, as 5 De - ris k ed ope r ations vs. diesel as Einride digitali z es f r eight solving all pa r t s of t he transition on t heir behalf all o wing t he cus t omer t o f ocus on t heir co r e business AI/ML optimization t ools all o w f or mo r e p r ecise shipping and cha rging vs. r egular operations t od a y operations, enabling bet t er cont r ol of risks t h r ough r eal - time visibilit y , and r esol v es risks of rising diesel cos t s / stranded asse t s Ope rational imp r o v emen t s – Cus t omer p r oof poin t s (2) Fleet si z e r eduction alongside a 10% inc r ease in transpo r t v olume Inc r ease in palle t s transpo r t ed per truck 89 % 7 3 % 50 % Accura cy of ene r gy consumption p r ediction (3) enabling r eliable planning R eduction in cha rging time achi e v ed b y int elligent prioritization & cont r olling p o w er output Inc r eased utilization of cha rging infrastructu r e Cost r eduction – Cus t omer p r oof poin t s (1) 13 % 16 % 30 % Fleet l ev el T CO r eduction compa r ed t o diesel baseline No t es: (1) Cus t omer study within g r oce r y r etail 202 5 , cus t omer solution 20 2 4 , cus t omer solution 2022. (2) EMEA operations in 202 5 , cus t omer cases 202 5 . (3) 11% Mean absolu t e pe r centage er r or (MAPE). Einride v alue p r oposition t o cus t omers es t he coo r dination p r oblem f or cus t omers, pooling all major 1 em p r oduc t s and se r vices in t o one as - a - Se r vice plat f orm
(1)(2) (1)(3) (3) (4) (5) (3) (3) (8) (11) (12) (5) (2)(6) (2)(10) (12) (7) (9) No t e: All Einride Data as of December 202 5 , cus t omer count as of F ebruar y 202 6 , unless other wise no t ed. (1) R ep r esen t s publicly disclosed cus t omers. (2) P er Au r ora earnings call on 02/11/2026 f or t he period ending 12/31/202 5. (3) P er K odiak i n v es t or p r esentation published 11/12/2025 f or t he qua r t er ended 09/30/202 5 . (4) Includes Hirschbach Mo t or Lines, Detmar Logistics, and one of t he leading carriers in t he U .S., per Au r ora 02/11/2026 p r ess r elease on e xpanded dri v erless operations. (5) P er Au r ora 2025 10 - K f or t he y ear ended 12/31/202 5. (6) The r e is no statistic disclosed f or Dri v erless Hours in Contrac t ed Cus t omer Ops, h o w e v e r , Au r ora has comple t ed 25 0 , 000 miles wit hout a dri v e r . (7) T otal number of FTEs ac r oss Einride, not only au t onomous depa r tment. (8) Empl oy ee count per K odiak S - 8 filing da t ed 12/01/202 5. (9) R ep r esen t s a v erage ac r oss 2025 f r om unaudi t ed financial sta t emen t s. (10) Qua r t erly cash burn calcula t ed as cash fl o ws f r om operating activities less capital e xpenditu r es f or t he qua r t er ended 12/31/202 5. (11) Qua r t erly cash burn is calcula t ed as cash fl o ws f r om operating activities less capital e xpenditu r es f or t he qua r t er ended 09/30/2025 per K odiak S - 4A da t ed 08/15/2025 and K odiak 10 - Q f or qua r t er ended 09/30/202 5 .(12) Mar k et capitalization per CapitalIQ as of 03/03/202 6 . Acti v e countries 1 Dri v erless hours in contrac t ed cus t omer ops 3 , 300+ N/A 5 ,200+ Empl oy ees ~ 300 ~1 , 900 300+ Qua r t erly burn ra t e ($M) ~ 22 ~154 ~40 V aluation ($B) ~1 . 35 ~ 9 . 0 ~1 . 5 Cus t omers 30 8+ 9 F ully - au t onomous, dri v e r - out cus t omers 6 3+ 1 7 1 Einride is t he leader wit hin t he au t onomous f r eight m o v ement (8) + 300 (5) 0 ~1 , 90 ~ 30 0 (7) Empl oy ees (12) 5 ~1. (12) 0 ~ 9 . ~1 . 35 V aluation ($B)
No t es: Data as of December 202 5 , cus t omer count as of F ebruar y 202 6 , unless other wise no t ed. St r a tegic depl o yment of cha r ging inf r astructu r e Einride's dif f e r ent modes of cha r ging solutions ser v e v a r ying cus t omer depl o ymen t s and all o w f or additional upside f r om e x t ernal cus t omers Einride stations Einride pri v a t e installation Thi r d pa r ty 90 Operational cha r ge poin t s 11 Thi r d pa r ty pa r tners 8 Li v e stations Structu r al depl o yment and management of cha r ging inf r astructu r e all o ws f or cost optimization, cont r ol and critical data ga t hering t o enhance t he cus t omer of f ering
No t es: All Einride Data as of December 202 5 , cus t omer count as of F ebruar y 202 6 , unless other wise no t ed. (1) Including r en t ed / leased v ehicles as of December 202 5 . (2) P e t erbilt v ehicles a r e y et t o be p r ocu r ed and depl o y ed. (3) Bet w een Januar y 20 2 4 and December 202 5 . (4) As of December 2025 216 Electric v ehicles (1) 14M+ Electric miles dri v en 3 Aut onomous v ehicle s (4) 3 , 300+ T onne - km t r anspo r t ed au t onomousl y (3) G r o wing t he electric fleet In o r der t o se r v e i t s cus t omers, Einride manages a la r ge and g ro wing fleet of electric comme r cial v ehicles Select OEM pa r tner s (2) Snapshot of cur r ent fleet 30 Cus t omers 7 OEMs
Business model F r eigh t - Capacity - as - a - Se r vice Cont r act structu r e R e v enue Se r vices Expec t ed cont r act du r ation Fi x ed tak e - o r - p a y monthl y ra t e b ased on minimum transpo r t c a p aci ty and V a r iable ra t e f or additional c a p aci ty utili z ed b e y ond the minimum License f ee per shi f t / t onne / shipment or as ag r eed with the cus t omer and V a r ious ancilla r y f ees b ased on incu r r ed cos t s ( e.g. tolls, ag r eed upon su r cha r ges f or waiting times, e tc.) End - t o - End Se r vices: assessment, planning, sou r cing, depl o yment, operations and main t enance, and r epo r ting Joint Business Plans: sha r ed fram e w o r k f or e ach cus t omer's continued transition t o an all - elect r ic fleet ~ 5 . 0 Y e ars ( a v erage ~ 4 . 5 - y e ar contract length ac r oss the po r t f olio)
T a r get long - t erm business model economics CE T s (Comme r cial Electric T rucks) Cab - less au t onomous trucks Commenta r y FCaaS upf r ont cost per v ehicle $1 7 0k – $210k $200k – $300k Cap e x f or v ehicle pu r chases Number of licensed v ehicles 1 5 , 000+ 5 , 000+ T otal v ehicles operating on t he Einride plat f orm FCaaS v ehicles 15% – 35% 5% – 25% Sha r e of v ehicles depl o y ed under t he FCaaS model whe r e Einride p r o vides t he full ser vice SaaS v ehicles (Plat f orm (CET) / Ex ternal ADS (Cab - less au t onomous trucks)) 65% – 85% 7 5% – 95% Sha r e of v ehicles depl o y ed under t he Plat f orm model whe r e Einride p r o vides t he technology f or o wner opera t ors (no cap e x f or Einrid e) FCaaS annual r e v enue per v ehicle $380k – $420k $295k – $335k T otal r e v enue per depl o y ed v ehicle operating under t he FCaaS model SaaS annual r e v enue per license $10k – $15k $ 7 0k – $90k T otal r e v enue per v ehicle depl o y ed b y o wner opera t ors on t he Einride Plat f orm FCaaS ta r get contribution ma r gin 30% – 35% 7 0% – 80% T a r get contribution ma rgin f or t he FCaaS of f ering, e x cl. ha r dwa r e cost and FTE cost SaaS ta r get contribution ma r gin 7 0% – 80% 80% – 90% T a r get contribution ma rgin f or t he Plat f orm / ADS licenses, in line wi t h typical SaaS ma r gins No t e: The ta r get operational in f ormation is p r esen t ed f or illustrati v e purposes only and m a y not r eflect t he actual per f ormance or r esul t s in a gi v en period or at all. Past per f ormance is not a guaran t ee of futu r e r esul t s. All i n v estmen t s i n v ol v e risk of loss, including loss of principal i n v es ted. The r e can be no assurance t hat his torical t r ends will continue or t hese r esul t s or per f ormance will be achi e v ed.
The time t o scale au t onomous is n o w – Einride is stra t egically positioned t o fuel t he transition as a mar k et leader No t es: (1) Pilot p r ogram launched in 2022, and operations began in 202 3 . (2) P er management ʼ s best kn o wledge. Uniquely enginee r ed f or dri v erless au t ono m y Enabled b y t he p r oprieta r y dri v e r , cont r ol to w er and cab - less au t onomous electric trucks, e x cluding t he in - v ehicle sa f ety dri v er f r om D a y 1 First m o v er in au t onomous f r eight First fully au t onomous v ehicle on public r oads in t he EU (2019) and t he U .S. (2022 ) (1), wi t h permi t s in place t o scale (2) Dif f e r entia t ed turn k e y cus t omer solution P r o vider of turn k e y F r eigh t - Capacity - as - a - Ser vice ("FCaaS") business model, p r o viding fully electric ser vice and anchoring a futu r e au t onomous pipeline Cutting - edge technology of f ering P r oprieta r y softwa r e t hat l ev erages machine learning and AI t o deli v er l o w - cost solutions, wi t h t he po t ential t o scale as a standalone Softwa r e - as - a - Ser vice ("SaaS") of f ering Long - t erm cont r ac t s wit h global cus t omers T a k e - o r - p a y contrac t s wi t h major global cus t omers r esulting in st r ong r e v enue visibility and significant backlog
No t es: (1) In agg r ega te. (2) Based on LE G T amount in trust at 01/30/202 6 . Assumes 0% r edemptions. Brian P r att Chairman A dam H. Jaf f e, C P A CF O , Sec r eta r y , and Dir ec t or Eric S. R osen f eld Chief S P A C Officer 10 $1.4B $ 4 . 6B M&A v alue of comple t ed DeS P A Cs S P A C IPOs Capital raised raised July 2008 June 2006 June 2013 P r e vious successfully comple t ed S P A C business combinations Lega t o III S P A C o v e r vi e w Oc t ober 2014 July 2017 Oc t ober 2021 F ebruar y 2023 Plat f orm ov e r vi e w The Lega t o ad v antage Lega t o III management t eam G r ego r y Monahan CEO and Di r ec t or
Existing sha r eholders r oll 100% of int e r est and will o wn ~ 7 6% of t he p r o - f orma equity Existing and n ew institutional i n v es t ors funded app r o xima tely $100M in c r oss - o v er financing in connection wi t h t he con t empla t ed S P A C T ransaction, including a global asset management compa n y based on t he W est Coast of t he Unit ed Sta t es, E Q T , and IonQ (1) Combined compa n y has secu r ed o v er $113 million of commit t ed PIPE capital, wi t h pa r ticipation f r om n ew and e xisting institutional i n v es t ors Einride is p r ojec t ed t o close wi t h $300M of additional cash on t he balance sheet Estima t ed sou r ces and uses Sou r ces ( $ M) Uses ( $ M) Einride Equity R oll o v er $ 1 , 35 0 . 0 Einride Equity R oll o v er $ 1 , 35 0 . 0 Lega t o III Cash in T rust ( 2 ) 22 3 . 0 Cash t o Balance Sheet 30 0 . 3 PIPE 11 3 . 3 Lega t o III Sponsor ( 2 ) 5 6 . 8 Lega t o III Public Sha r eholders 12 . 3% 2 0 . 1 No t e: Analysis e x cludes up t o 1 0. 340M sha r es issuable upon t he e x e r cise of Lega t o ʼ s warran t s ( comprised of 1 0 . 063M public warran t s and 0 .2 7 8M pri v a t e placement warran t s) and warran t s associa t ed wit h t he PIPE. (1) $100M in c r oss - o v er financing raised in 2025 f r om e xisting and n ew institutional i n v es tors in connection wit h t he S P A C transaction, a sha r e of which r ela t es t o subo r dina t ed co n v e r tible debt which has been or is e xpec t ed t o be co n v e r t ed in t o equit y. (2) Calcula t ed at $11 . 08 per sha r e based on LE G T amount in trust af t er taking in t o account e xpec t ed additional accumula t ed in t e r est at p r e vailing mar k et ra t es t h r ough closing. Assumes 0% r edemptions. (3) Calcula t ed at $1 0 . 90 per sha r e as stipula t ed in t he business combination ag r eement. E x cludes R estric t ed Compa n y O r dinar y Sha r es as defined in t he business combination ag r eement, and additional sha r es issued t o di r ec t ors and officers of Einride as pa r t of t he de - S P A C transaction. (4) Includes 1 . 953M incenti v e sha r es gran t ed t o PIPE i n v es t ors, of which, 0 . 553M sha r es a r e trans f er r ed f r om sponso r . E x cludes t he impact of warran t s issued. (5) Includes 5 . 031M f ounder sha r es, 0 . 556M pri v a t e placement sha r es, and 0 . 088M f ounder sha r es t o under wri t ers less 0 . 553M f ounder sha r es gran t ed t o PIPE sha r eholders ( out of 1M in total sha r es put to wa r ds such purpose (“Incenti v e Sha r es”)). Lega t o will subject 1.4M management sha r es ("Conditional Sha r es"), plus a n y Incenti v e Sha r es not gran t ed t o PIPE sha r eholders, t o f o r f eitu r e t o be de termined based on t he pe r centage of sha r es r edeemed at closing. Analysis assumes 0% r edemptions and no f o r f eitu r e of Conditional Sha r es or Incenti v e Sha r es. T r ansaction o v er vi e w Einride is valued at a $1 . 35B p r e - mon ey equity v alue Illust r ati v e sha r es ou t standing at close Sha r eholder Ownership Sha r es Einride Equity R oll o v er (3) 7 5 . 8% 12 3. 9 Lega t o III Sponsor (2) 5 6 . 8 Estima t ed Expenses 3 6 . 0 T otal Sou r ces $1 ,7 4 3 . 1 T otal Uses $1 ,7 4 3 . 1 T otal Equity V alue (2) $ 1 , 80 9 . 7 Net Cash (30 0 . 3) P r o F orma Ent erprise V alue $ 1 , 50 9.4 75.8% Einride E quity R oll ov er 12.3% Le g at o III Public Sha r eholde r s 8.7% PIPE I n v e st o r s 3.1% Le g at o III Sponsor 1 4 .2 8 . 7% PIPE I nv es t ors (4) 5 . 1 3 . 1% Lega t o III Sponsor (5) 16 3 . 3 10 0. 0% T otal P r o F orma Sha r es Ou t standing
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Appendix
Cus t omer journ e y Einride w orks hand in hand wi t h cus t omers t o p r o vide r e v olutiona r y logistics se r vice at a l o w er cost T r ans f ormation p r og r am Mid - t erm Sho r t - term Description St r a tegic electrification plan L e v eraging t he planning AI algori t hms t o optimi z e T CO f or fleet electrification Immedia tely electrifiable lanes Lanes wi t h suitable distances, p a yloads and f orm f ac t ors t o go electric t od a y R egional scale up Longer range fl o ws enabled b y Einride plat f orm, cha rging and imp r o v ed ha r dwa r e Scale ac r oss mar k e t s & use cases Full fleet add r essed wi t h optimi z ed futu r e setup, including cab - less au t onomous trucks Comme r cial ag r eement Joint Business Plan W a v e 1 operational contract W a v e 2 operational contract W a v e 3+ operational contrac t s Long - t erm (+ Au t onomous)
Risk f ac t ors
Risk f ac t ors (1/5)
Risk f ac t ors (2/5) In t erruptions, outages, or f ailu r es of in f ormation technology and communications infrastructu r e and sys t ems that w e r ely upon m a y ad v ersely af f ect our business, financial condition, and r esul t s of operations. Our business ma k es e x t ensi v e use of t hi r d - par ty data.
Risk f ac t ors (3/5)
Risk f ac t ors (4/5)
Risk f ac t ors (5/5)
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