ne gogolo. ANNIVERSARY Q3 2025 Investor Presentation NOV 11, 2025 Henry Chiang Chief Executive Officer Gogoro® Q3 2025 Investor Presentation Bruce Aitken Chief Financial Officer 2 DISCLAIMER Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 27E of the Securities Echance Forward-looking statements generally relate to future events or Gogor's tuture imancial or coerating performance. In some ...

Core Insights - Gogoro Inc. reported a total revenue of $77.6 million for Q3 2025, a decrease of 10.6% year-over-year, with a more significant decline of 17.1% on a constant currency basis [4][9] - The company achieved a gross margin of 12.2%, up from 5.4% in the same quarter last year, driven by improved inventory management and operational efficiency [5][10] - Gogoro's adjusted EBITDA for Q3 2025 was $20.2 million, an increase from $15.5 million in the same quarter last year, reflecting disciplined operations and cost-saving initiatives [11] Financial Performance - Operating revenues for Q3 2025 were $77.6 million, down 10.6% year-over-year, with battery swapping service revenue at $38.9 million, up 11.5% year-over-year [4][9] - Gross margin improved to 12.2%, with non-IFRS gross margin reaching 22.2%, up from 16.3% year-over-year [5][10] - The net loss for Q3 2025 was $14.9 million, a reduction from a net loss of $18.2 million in the same quarter last year [10] Operational Efficiency - Inventory levels were reduced by 34% year-over-year, contributing to improved cash flow and operational efficiency [3][8] - Operating cash flow for the first nine months of 2025 rose to $25.7 million, up from $13.3 million in the same period last year [12] - The company implemented cost-saving initiatives that resulted in approximately $21 million in operating expenses saved in the first nine months of 2025 compared to the same period in 2024 [8] Market Context - Taiwan's two-wheeler market contracted to 196 thousand units, the lowest third-quarter total in a decade, influenced by macroeconomic headwinds and reduced consumer confidence [8][9] - Gogoro's product expansion included the launch of the EZZY and EZZY 500 models, which are expected to enhance sales growth and margin improvement in 2026 [8][9] - The company anticipates a challenging environment for the Taiwan two-wheeler market in 2025, adjusting its revenue guidance to between $270 million to $285 million [13] Strategic Initiatives - Gogoro is focusing on product innovation and plans to launch new vehicles in 2026, alongside developing higher density and lower-cost battery packs [3][8] - The company continues to strengthen its Powered by Gogoro Network (PBGN) ecosystem, with partners like Yamaha expanding their electric vehicle portfolios [8][9] - Gogoro's ongoing battery pack upgrades are expected to yield long-term economic benefits, despite short-term impacts on gross margin [6][8]

Core Insights - Gogoro Inc. will release its financial results for Q3 2025 on November 11, 2025, before market opening [1] - An earnings webcast will be held at 7:00 a.m. Eastern Time on the same day to discuss financial and business results [2] Company Overview - Gogoro, founded in 2011, focuses on rethinking urban energy and promoting sustainable mobility solutions [3] - The company has received multiple recognitions, including being named a "Change the World 2024" company by Fortune and "Asia-Pacific's Most Innovative Company of 2024" by Fast Company [3] - Gogoro is recognized as a leader in battery swapping technology for electric two-wheel vehicles and aims to disrupt traditional urban transportation [3]

Core Insights - Gogoro Inc. has appointed Henry Chiang as the official CEO, effective immediately, after serving as interim CEO since September 2024 [1][2] - The board believes Henry's leadership will drive Gogoro's turnaround and align with the company's growth strategy [2] - Under Henry's interim leadership, Gogoro improved operating cash flow from $4.8 million in H1 2024 to $15.2 million in H1 2025, while reducing operating expenses by approximately $11 million year-over-year [2] Company Performance - Gogoro expects to achieve profitability on a non-IFRS basis in its energy business by 2026 and in its vehicle business by 2028 [2] - The company plans to generate free cash flow from energy operations in 2027 [2] - In 2025, Gogoro launched three new electric scooter models: Pulse STARLUX, EZZY, and EZZY 500, enhancing its market position [2] Leadership and Strategy - Henry Chiang has a strong background in the industry, previously leading GoShare and launching customer engagement initiatives at Gogoro [2] - His leadership has focused on operational efficiency, innovation in urban mobility, and expanding Gogoro's global footprint through partnerships in Vietnam and Latin America [2][3] - Gogoro aims to leverage its brand popularity to re-establish financial success while continuing to deliver innovative products [2]

Core Viewpoint - Gogoro Inc. will implement a 1-for-20 share consolidation effective October 6, 2025, to increase the per-share trading price and regain compliance with Nasdaq's minimum bid price requirement [1][2]. Share Consolidation Details - The share consolidation ratio was approved by shareholders on May 28, 2025, allowing a range from no consolidation to 1-for-100, with the final decision made by the Board of Directors on September 16, 2025 [2]. - No fractional shares will be issued; any resulting fractions will be canceled and returned to the pool of authorized but unissued shares [2]. - Outstanding warrants and other equity rights will be proportionately adjusted, with the exercise price of public warrants set to $230 per share and total shares reduced to 862,500 [3]. Impact on Shareholders - The share consolidation will uniformly affect all shareholders, maintaining their percentage ownership interest, except for those with fractional interests [4]. - Registered shareholders will not need to take action to receive split-adjusted shares, as adjustments will be made automatically for those holding shares through brokers or other organizations [5]. Company Background - Gogoro, founded in 2011, focuses on sustainable urban mobility solutions through battery swapping ecosystems and has received multiple accolades for innovation and sustainability [7].

Core Insights - Gogoro Inc. announced that Mr. Yin Chung Yao, a director and affiliate of the largest shareholder, will procure equity investments totaling NTD$2,500 million by December 31, 2026 [1] - The company is in discussions with lenders regarding a potential amendment to a syndicated credit facility agreement, which includes a 5-year term loan of NT$10,700 million [2] - There is no assurance that any amendments to the loan facility or equity investments will materialize, as these are subject to further negotiations and approvals [3] Company Overview - Gogoro, founded in 2011, focuses on sustainable urban mobility solutions through battery swapping ecosystems [4] - The company has received multiple recognitions, including being named a "Change the World 2024" company by Fortune and "Asia-Pacific's Most Innovative Company of 2024" by Fast Company [4] - Gogoro aims to disrupt traditional urban energy distribution and consumption, leveraging innovation in vehicle design, electric propulsion, and smart battery technology [4]

Financial Data and Key Metrics Changes - Operating cash flow increased significantly from $4.8 million in 2024 to $15.2 million in 2025, reflecting effective cost savings initiatives [6] - Adjusted EBITDA rose to $12.5 million, a 4.2% increase from $12 million in the same quarter last year [16] - Non-IFRS gross margin improved to 17%, up from 13.5% in the same quarter last year [15] Business Line Data and Key Metrics Changes - Revenue from the battery swapping business reached $37.6 million, an 8.5% year-over-year increase [10] - Sales of hardware and other revenue decreased by 39.1% year-over-year to $28.2 million, primarily due to a decline in vehicle sales volume [13] - Total subscribers increased to 648,000, up 7% from 608,000 in the same quarter last year [11] Market Data and Key Metrics Changes - The overall two-wheeler market in Taiwan decreased by 11% compared to the same quarter last year, marking the lowest Q2 performance in three years [14] - Consumer confidence in Taiwan has slipped to its lowest point since April 2024, influenced by macroeconomic uncertainties [14] Company Strategy and Development Direction - The company is focused on strategic streamlining of products and solutions, aiming for long-term financial objectives including energy breakeven in 2026 and vehicle business profitability in 2028 [9][19] - Continued investment in battery upgrades and network infrastructure is seen as essential for growth, with expectations of breakeven in the battery business by 2026 [27][28] - The company is actively engaging with government officials to advocate for more aggressive subsidies and regulatory measures to accelerate electrification [23][24] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by macroeconomic trends and consumer sentiment but remains optimistic about the second half of the year [15][19] - The company anticipates a seasonal pickup in sales and expects to meet the low end of its revenue guidance for the year, estimating full-year revenue between $295 million and $315 million [18] - Management believes the current market valuation does not reflect the fundamental value of the business and is committed to improving performance [8] Other Important Information - A new vehicle, the EZ, was launched at a price of approximately $910 after government subsidies, with strong demand anticipated [12] - The company has drawn down a $1 billion loan to enhance liquidity and strengthen its financial structure [17] Q&A Session Summary Question 1: Government's plans for aggressive subsidy programs to accelerate electrification - Management acknowledged the gap between policy ambitions and current adoption rates, indicating ongoing discussions with the government for potential subsidies and regulatory measures [22][23] Question 2: Investment cycle and expectations for net cash flow - Management confirmed that current investments in network infrastructure are critical for growth, with expectations for gradual improvement in gross margins and breakeven in the battery business by 2026 [26][27] Question 3: Update on the joint venture with Castrol in Vietnam - Management reported strong progress in the partnership, with plans for a pilot towards the end of the year and a full launch in 2026, although immediate revenue is not expected [30][31]

Financial Performance - Q2 2025 - Revenue decreased by 18.7% year-over-year to $65.8 million[60] - On a constant currency basis, revenue decreased by 22.5% year-over-year to $62.7 million[62] - IFRS Gross Margin was 0.3%, a decrease of 4.9% year-over-year[60] - Non-IFRS Gross Margin increased to 17.0%, up 3.5% year-over-year[62] - Net Loss was $(26.5) million, a decrease of $6.5 million year-over-year[60] - Adjusted EBITDA increased by 4.2% year-over-year to $12.5 million[62] Operational Metrics - Total riding distance reached 13.2 billion kilometers[53] 2025 Guidance - The company expects revenue to be at the low-end of $295 million - $315 million[65] Additional Points - Operating cash flow was $15.2 million[28] - Operating expenses reduced by 1740%[28]

Financial Performance - Total revenue for Q2 2025 was $65.8 million, down 18.7% year-over-year and down 22.5% on a constant currency basis[6]. - Net loss for Q2 2025 was $26.5 million, an increase of $6.4 million from a net loss of $20.1 million in the same quarter last year[13]. - Operating revenues for Q2 2025 were $65.813 million, a decrease of 18.6% compared to $80.944 million in Q2 2024[46]. - Gross profit for Q2 2025 was $222,000, down from $4.172 million in Q2 2024, indicating a significant decline in profitability[46]. - The net loss for Q2 2025 was $26.527 million, compared to a net loss of $20.055 million in Q2 2024, reflecting a worsening financial position[46]. - For the six months ended June 30, 2025, the company reported a net loss of $45.089 million, compared to a net loss of $33.182 million for the same period in 2024, representing a year-over-year increase of 35.9%[48]. - Total revenue for the six months ended June 30, 2025, was $129.434 million, a decrease of 14.1% compared to $150.655 million in 2024[51]. Revenue Segmentation - Battery swapping service revenue increased to $37.6 million, up 8.5% year-over-year, while hardware and other revenue decreased to $28.2 million, down 39.1% year-over-year[8]. - Battery swapping service revenues increased to $37.623 million in Q2 2025, up from $34.662 million in Q2 2024, indicating growth in this segment[46]. - The company anticipates full-year revenue to be at the low-end of the previously provided range of $295 million to $315 million due to the delayed launch of the new vehicle EZZY[17]. Cost Management - Approximately $11 million in operating expenses were saved in the first half of 2025 compared to the same period in 2024[4]. - Total operating expenses for Q2 2025 were $23.692 million, down from $28.773 million in Q2 2024, showing a reduction in costs[46]. - The company incurred share-based compensation costs of $57,000 in Q2 2025, significantly lower than $320,000 in Q2 2024, suggesting improved cost management[46]. - The company’s share-based compensation expense for the six months ended June 30, 2025, was $1.769 million, down from $7.419 million in the same period of 2024[51]. Cash Flow and Assets - Operating cash inflow for the first half of 2025 was $15.2 million, compared to $4.8 million in the same period in 2024[16]. - Cash generated from operating activities increased to $20.615 million in the first half of 2025, up from $10.085 million in the same period of 2024, marking a 104.1% increase[48]. - The company reported a net cash generated from financing activities of $37.645 million in the first half of 2025, down from $72.466 million in the same period of 2024[48]. - The company’s cash and cash equivalents at the end of the period were $92.026 million, a decrease from $196.886 million at the beginning of the period[48]. Balance Sheet - Total current assets as of June 30, 2025, were $475.055 million, an increase from $438.255 million as of December 31, 2024[44]. - Total liabilities as of June 30, 2025, were $603.631 million, compared to $523.887 million as of December 31, 2024, indicating an increase in financial obligations[44]. - The total equity as of June 30, 2025, was $151.834 million, a decrease from $176.540 million as of December 31, 2024[49]. Profitability Metrics - Gross margin was 0.3%, down from 5.2% in the same quarter last year, while non-IFRS gross margin improved to 17.0%, up from 13.5% year-over-year[10]. - The gross profit margin for the six months ended June 30, 2025, was 17.0%, compared to 13.5% in the same period of 2024, indicating an improvement in profitability[51]. - The basic and diluted net loss per share for Q2 2025 was $0.09, compared to $0.08 in Q2 2024, reflecting a decline in shareholder value[46]. Impairment and Future Outlook - The company recognized an impairment loss of $1.406 million related to a foreign subsidiary asset during the second quarter of 2025[51]. - The company expects to continue incurring costs related to battery upgrade initiatives, which are recorded under Cost of Revenues[34]. - The company plans to continue battery pack upgrades through 2025, which are expected to impact gross margin in the short term[12].

Core Insights - Gogoro continues to make progress towards profitability, with improvements in non-IFRS gross margin and operating cash flow in the first half of 2025, indicating positive impacts from strategic efforts [4][5][10] - The company faced challenges in revenue due to the delayed launch of its new product, EZZY, but remains optimistic about achieving its full-year revenue targets [4][5][15] - Gogoro is focused on cost discipline and innovation, with plans for new product launches and battery pack developments in the coming years [4][5][11] Financial Performance - Total revenue for Q2 2025 was $65.8 million, a decrease of 18.7% year-over-year, and down 22.5% on a constant currency basis [5][11] - Battery swapping service revenue increased to $37.6 million, up 8.5% year-over-year, while hardware sales dropped to $28.2 million, down 39.1% year-over-year [5][11] - The gross margin was 0.3%, down from 5.2% in the same quarter last year, while non-IFRS gross margin improved to 17.0%, up from 13.5% [7][11] Cost Management - Operating cash flow improved significantly to $15.2 million in the first half of 2025, compared to $4.8 million in the same period of 2024, driven by cost-saving initiatives [5][14] - The company saved approximately $11 million in operating expenses in the first half of 2025 compared to the same period in 2024 [5][10] - Organizational restructuring and streamlined product offerings contributed to reduced operating expenses [10][14] Market Outlook - The Taiwan two-wheeler market is expected to be subdued in 2025, impacting Gogoro's revenue projections, which are now anticipated to be at the low end of the previously provided range of $295 million to $315 million [15] - International markets, particularly Korea and Vietnam, are showing positive signs with increased demand for Gogoro's solutions and supportive government policies for electrification [5][11] Product Development - Gogoro plans to launch a new vehicle in Q3 2025 and an all-new vehicle platform in 2026, alongside ongoing battery pack upgrades [5][11][15] - The company has invested approximately $100 million annually in capital expenditures over the past three years to enhance its battery swapping network [8][9]