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Ontario Vehicle Production, 2010-2019

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Toyota & Honda % of Production, 2010-2019

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Ontario Vehicle Production, 2010-2024

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Toyota & Honda % of Production, 2010-2024

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The Way Forward (2020) – 3 Options

1. Secure EV Assembly Mandates for Existing Plants

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• Attract Niche EV Assembly Plant (e.g. Tesla, Rivian)

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• Attract Battery-Related Investment

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‘There’s more work to do. But it’s the automotive industry. There’s always more work to do. And that’s a lot better than having no work to do.’

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‘There’s more work to do. But it’s the automotive industry. There’s always more work to do. And that’s a lot better than having no work to do.’

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- Brendan

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Battery Plants – What to Expect?

Battery cell manufacturing ≠ vehicle assembly

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New people from outside of Ontario, initially

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Workforce strategy & hiring in stages

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Engagement colleges (and universities) when time is right

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Battery production in step with several assembly plants

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Policy Environment

Different companies have different electrification strategies

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Different companies have different time horizons for ROI

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Canada does incentives by contract, not legislation

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Major employers are already making contributions to liveable communities, need all-hands approach & wrap-around supports

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PowerCo Canada�Overview�

October 25, 2024

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Department | Presentation title | CSD-class

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01.01.2024

Brent Hinson �

Chief Finance Officer – CFO

PowerCo Canada

Motivation to join PowerCo

Prior experience

Skills and knowledge

Personal interests

Excited about starting a brand new factory with new technologies and the future for the VW Group.

• 15 years VW Brand various finance functions:

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• Chief Financial Officer of Volkswagen – Chattanooga plant

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• Sr. Director NA Region Finance

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• 3 years TK Steel and Stainless Steel

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• 4 years Hyundai Motor Manufacturing Alabama

• Two decades of experience across finance and accounting

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• Finance and Accounting

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• Information Technology

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• Factory start-ups and greenfield projects

• Traveling

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• Basketball

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• Golf

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• Football (American)

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Relationship with Volkswagen

Who we are

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Sustainability forms the backbone of the company

Product and technology

Industrialization and equipment

Vertical �integration

Capital�market

Sustainability

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St. Thomas

First overseas Gigafactory and PowerCo’s biggest production facility

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08.27.2024

Size: ~ 150ha

Capacity: up to 90+ GWh/a

SOP: 01/2027

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PowerCo Canada Inc. – 2024 Project Highlights

Site levelling and PowerCo Canada team growth on track

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08.27.2024

Celebration phase 1 site levelling complete

PowerCo Supplier Days in Toronto

Phase 3 site levelling ongoing

Drilling event & phase 2 site levelling complete

CW 15 ‘24

CW 26 ‘24

CW 5 ‘24

CW 50 ‘23

CW 32 ‘24

CW 32 ‘24

Opening of 2nd floor of Temp Office

Visit of Mr. Schmall and Sebastian Wolf

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Gigafactory St. Thomas

Gigafactory St. Thomas

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Our Product - the Unified Cell

Low complexity, high standardization

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• Adaptable to all leading chemistries, tailored to automotive segments

LFP

NMC

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Thank you!

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