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February 2021
Forward-Looking Statements
2
CERTAIN STATEMENTS IN THIS PRESENTATION CONCERNING THE PROPOSED TRANSACTION, INCLUDING ANY STATEMENTS REGARDING THE EXPECTED TIMETABLE FOR COMPLETING THE PROPOSED TRANSACTION, THE RESULTS, EFFECTS, AND BENEFITS OF THE PROPOSED TRANSACTION, FUTURE OPPORTUNITIES FOR THE COMBINED COMPANY, FUTURE FINANCIAL PERFORMANCE AND CONDITION, GUIDANCE AND ANY OTHER STATEMENTS REGARDING TORCHLIGHT ENERGY RESOURCES, INC.’S (“TORCHLIGHT'S”) OR METAMATERIAL INC.’S (“META’S”) FUTURE EXPECTATIONS, BELIEFS, PLANS, OBJECTIVES, FINANCIAL CONDITIONS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE THAT ARE NOT HISTORICAL FACTS ARE “FORWARD-LOOKING” STATEMENTS BASED ON ASSUMPTIONS CURRENTLY BELIEVED TO BE VALID. FORWARD-LOOKING STATEMENTS ARE ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS. THE WORDS “ANTICIPATE,” “BELIEVE,” “ENSURE,” “EXPECT,” “IF,” “INTEND,” “ESTIMATE,” “PROBABLE,” “PROJECT,” “FORECASTS,” “PREDICT,” “OUTLOOK,” “AIM,” “WILL,” “COULD,” “SHOULD,” “WOULD,” “POTENTIAL,” “MAY,” “MIGHT,” “ANTICIPATE,” “LIKELY” “PLAN,” “POSITIONED,” “STRATEGY,” AND SIMILAR EXPRESSIONS OR OTHER WORDS OF SIMILAR MEANING, AND THE NEGATIVES THEREOF, ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. SPECIFIC FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS REGARDING TORCHLIGHT'S AND META’S PLANS AND EXPECTATIONS WITH RESPECT TO THE PROPOSED TRANSACTION AND THE ANTICIPATED IMPACT OF THE PROPOSED TRANSACTION ON THE COMBINED COMPANY’S RESULTS OF OPERATIONS, FINANCIAL POSITION, GROWTH OPPORTUNITIES AND COMPETITIVE POSITION., AND THE 2021 CAPITALEXPENDITURES OF META THE FORWARD-LOOKING STATEMENTS ARE INTENDED TO BE SUBJECT TO THE SAFE HARBOR PROVIDED BY SECTION 27A OF THE SECURITIES ACT OF 1933, SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934 AND THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
THESE FORWARD-LOOKING STATEMENTS INVOLVE SIGNIFICANT RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED, INCLUDING, BUT NOT LIMITED TO, THE POSSIBILITY THAT STOCKHOLDERS OF TORCHLIGHT MAY NOT APPROVE THE ISSUANCE OF NEW SHARES OF TORCHLIGHT COMMON STOCK IN THE TRANSACTION OR OTHER PROPOSALS THAT ARE A CONDITION TO THE TRANSACTION OR THAT THE STOCKHOLDERS OF TORCHLIGHT AND META MAY NOT APPROVE THE ARRANGEMENT AGREEMENT; THE RISK THAT A CONDITION TO CLOSING OF THE PROPOSED TRANSACTION MAY NOT BE SATISFIED, THAT EITHER PARTY MAY TERMINATE THE ARRANGEMENT AGREEMENT OR THAT THE CLOSING OF THE PROPOSED TRANSACTION MIGHT BE DELAYED OR NOT OCCUR AT ALL; POTENTIAL ADVERSE REACTIONS OR CHANGES TO BUSINESS OR EMPLOYEE RELATIONSHIPS, INCLUDING THOSE RESULTING FROM THE ANNOUNCEMENT OR COMPLETION OF THE TRANSACTION; THE DIVERSION OF MANAGEMENT TIME ON TRANSACTION-RELATED ISSUES; THE ULTIMATE TIMING, OUTCOME AND RESULTS OF INTEGRATING THE OPERATIONS OF TORCHLIGHT AND META; THE EFFECTS OF THE BUSINESS COMBINATION OF TORCHLIGHT AND META, INCLUDING THE COMBINED COMPANY’S FUTURE FINANCIAL CONDITION, RESULTS OF OPERATIONS, STRATEGY AND PLANS; CHANGES IN CAPITAL MARKETS AND THE ABILITY OF THE COMBINED COMPANY TO FINANCE OPERATIONS IN THE MANNER EXPECTED; THE FACTTHAT ANY DIVIDEND PAYMENTS WILL BE AT THE DISCRETION OF THE COMBINED COMPANY’S BOARD OF DIRECTORS AND MAY BE SUBJECT TO LEGAL, CONTRACTUAL OR OTHER RESTRICTIONS; THE EFFECTS OF COMMODITY PRICES; THE RISKS OF OIL AND GAS ACTIVITIES; AND THE FACT THAT OPERATING COSTS AND BUSINESS DISRUPTION MAY BE GREATER THAN EXPECTED FOLLOWING THE PUBLIC ANNOUNCEMENT OR CONSUMMATION OF THE PROPOSED TRANSACTION. EXPECTATIONS REGARDING BUSINESS OUTLOOK, INCLUDING CHANGES IN REVENUE, PRICING, CAPITAL EXPENDITURES, CASH FLOW GENERATION, STRATEGIES FOR OUR OPERATIONS, OIL AND NATURALGAS MARKET CONDITIONS, LEGAL, ECONOMIC AND REGULATORY CONDITIONS, AND ENVIRONMENTAL MATTERS ARE ONLY FORECASTS REGARDING THESE MATTERS.
ADDITIONAL FACTORS THAT COULD CAUSE RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED ABOVE CAN BE FOUND IN TORCHLIGHT'S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2020 AND IN ITS SUBSEQUENTLY FILED QUARTERLY REPORTS ON FORM 10-Q, EACH OF WHICH IS ON FILE WITH THE SEC AND AVAILABLE FROM TORCHLIGHT'S WEBSITE AT WWW.TORCHLIGHTENERGY.COM UNDER THE “INVESTOR RELATIONS” TAB, AND IN OTHER DOCUMENTS TORCHLIGHT FILES WITH THE SEC.
ALL FORWARD-LOOKING STATEMENTS SPEAK ONLY AS OF THE DATE THEY ARE MADE AND ARE BASED ON INFORMATION AVAILABLE AT THAT TIME. TORCHLIGHT DOES NOT ASSUME ANY OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS TO REFLECT CIRCUMSTANCES OR EVENTS THAT OCCUR AFTER THE DATE THE FORWARD-LOOKING STATEMENTS WERE MADE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS EXCEPT AS REQUIRED BY FEDERAL SECURITIES LAWS. AS FORWARD-LOOKING STATEMENTS INVOLVE SIGNIFICANT RISKS AND UNCERTAINTIES, CAUTION SHOULD BE EXERCISED AGAINST PLACING UNDUE RELIANCE ON SUCH STATEMENTS.
Transaction Overview
3
▪ Reverse takeover of Torchlight (a U.S.-listed public company) by Meta (a Canadian-listed public company), by way of a Plan of Arrangement.
▪ Torchlight’s pre-Arrangement stockholders will own approximately 25.0% of the new combined company post-closing, and in exchange issue shares of its common stock to holders of Meta common shares, representing approximately 75.0% ownership in the combined company.
▪ Prior to the effective date of the closing of the Arrangement, Torchlight will declare and issue shares of Series A preferred stock to holders of Torchlight common stock representing 100% of the value of its existing oil and gas assets.
▪ Shares of Series A preferred stock will be unregistered and not freely-tradable.
▪ Preferred stockholders will have the right to receive a cash dividend (on a per preferred share basis) of any net proceeds received from the sale or disposition of oil and gas assets owned by Torchlight prior to the earlier of (i) December 31, 2021 or (ii) the date which is six months from the closing of the Arrangement.
▪ During the sale period, the Company may spin off or sell any of the remaining oil and gas assets.
▪ Further, the oil and gas assets will be held in wholly-owned subsidiaries and all remaining Torchlight secured debt will be non-recourse to the parent.
▪ The current management team at Meta will operate the combined company post-closing.
Transaction Merits
4
▪ Legacy Value + + | Pre-Arrangement
Torchlight shareholders still maintain
exposure to the oil and gas assets and will
receive a pro rata share of any net proceeds
generated from the sale or disposition of the
assets, in addition to receiving 25% of the
combined business with META.
▪ New Vision | Transition to the development of
niche, technology-enabling nanomaterials
that have broad applications in a future more
dependent on making products more
connected, functional and interactive with
energy, vision and touch.
MASTERING LIGHTDRIVING INNOVATION
www.metamaterial.com
CSE: MMAT
Metamaterial, Inc.
The Transaction Opportunity
This Presentation includes forward-looking information within the
meaning of Canadian securities laws and within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended,
regarding Metamaterial and its business, which may include, but are
not limited to, statements with respect to the terms and anticipated
timing of the proposed transaction with Torchlight Energy Resources
Inc., the intention to raise equity capital, the potential continued
listing of Torchlight on the NASDAQ exchange and the benefits
thereof, the approval of the Transaction by the shareholders of
Torchlight and Metamaterial, the business strategies, product
development and operational activities of Metamaterial. Often but not
always, forward-looking information can be identified by the use of
words such as “expect”, “intends”, “anticipated”, “believes” or
variations (including negative variations) of such words and phrases,
or state that certain actions, events or results “may”, “could”, “would”
or “will” be taken, occur or be achieved. Such statements are based
on the current expectations and views of future events of the
management of Metamaterial and are based on assumptions and
subject to risks and uncertainties. Although the management of
Metamaterial believes that the assumptions underlying these
statements are reasonable, they may prove to be incorrect. The
forward-looking events and circumstances discussed in this release
may not occur and could differ materially as a result of known and
unknown risk factors and uncertainties affecting the companies,
including risks regarding the ability of the parties to close the
proposed transaction with Torchlight Energy Resources Inc., the
ability of the parties to raise necessary equity capital, approval of the
transaction and continued listing by the NASDAQ exchange,
approval of the Canadian Securities Exchange, receipt of
shareholder approval and required third party and regulatory
consents, the potential benefits of the transaction to Metamaterial
shareholders, risks related to the research and development projects
of the Company, risks related to the market potential of the
Company’s products, risks related to the investment priorities and
manufacturing plans of the Company, risks related to the scalability
of the Company’s production ability, risks related to the technology
industry, market strategic and operational activities, and
management’s ability to manage and to operate the business.
Although Metamaterial has attempted to identify important factors
that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results to differ from those
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on any forward-looking statements or
information. No forward-looking statement can be guaranteed.
Except as required by applicable securities laws, forward-looking
statements speak only as of the date on which they are made and
Metamaterial does not undertake any obligation to publicly update or
revise any forward looking statement, whether as a result of new
information, future events, or otherwise.
Forward Looking Statements
6
Solutions for everyday life.High performance, sustainable metamaterial functional films that change how we use, interact with and benefit from light
and other forms of energy.
(Click) META Corporate Video Introduction
7
Almost every great advancement in technology can be attributed to a breakthrough in material science.
Electronics THEN...
1956, the Nobel Prize in Physics was awarded jointly to Shockley, Bardeen and Brattain for their development of the transistor, driven by the discovery of semiconducting materials and the means to manipulate their properties
Electronics NOW...
The Birth of the Digital Age.
8
META(2020)
21st Century will be the NEW AGE of
“invisible" highly functional metamaterials
META helps OEMs develop higher-value products inconsumer electronics, energy, medical, aerospace, automotive, and more.
Metamaterials can create major disruptive benefits over the next decade in ways unachievable by conventional materials.
THE META DIFFERENCE – providing several-fold to order-of-magnitude improvements in performance, at scale, reduced cost, using sustainable materials. META’s current record: 40x compared to previous incumbent solution.
VALUE PROPOSITION HOW IT WORKSMETA patterns its materials to “program” different functional properties over large areas for a few $/m2
(More on our website for info on metamaterial technology)
It is now possible to create bulk materials with unique properties in absorption, emission, sensing, transmission, and guiding of light, sound, energy, and heat, as well as friction, strength, and electric energy.
Mie resonators (2014)
Blazed binary grating (1998)
Échelette DOE(1970’s)
Geometric Phase(2001)
High performance(2016)
Light field(2019)
META(2020)
Concept
9
Source: Internal META estimates
Competitive threats from Asia
(>70% supply chain control)e.g. Indium & Indium oxide sales > $20Bn/yr
Price and OEM Demand for more performance
keeps increasing
Sustainability of growth in terms of raw materials (some are 40x-1000x rarer than Gold)
> $3 Trillion
Market
Threats to Incumbents:
Some of our most cherished devices –smartphones, cars, computers and medical equipment – contain rare earth elements and precious metals -- what the Japanese refer to as “the seeds of technology.”
UNPRECEDENTEDMARKET OPPORTUNITY
Source: Lux Research, n-tech Research, BCC Research, Deloitte, internal META estimate
5G infrastructure rollout and Vehicle Electrification -> initial wave of growth in metamaterials
Combined >$3T Advanced Materials, IoT, Medical,
Energy, Aerospace and Automotive markets.
Metamaterial device market expected to grow to
$10.7B SAM by 2030.
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
Metamaterials Market ForecastUS$ Millions (Source: LUX Research)
Communications Sensing Vibration damping Other
10
Emerging Trends:
123
1 2 3
(Click) Market Report
Multiple Potential Revenue Streams based on R2R Manufacturing and Material Supply
11
META at a Glance
Design & Nanofabrication Experts
Breakthrough performance across a wide range of applications, driven by
customer requests
Growing metamaterials library and key supplier
partnerships with multiple world 1st achievements and
industry awards
Developed and De-risked Tech Platform>$75M CAD Invested
Since 2011Accelerated growth by M&A in the last 4yrs
Non-dilutive funding support provided from government agencies
Core Capabilities Holography, Lithography
& Wireless Sensing
Purpose-built Proprietary
Manufacturing –10,000 m2 current
nanopatterning capacity, pilot line strategy
leading to high volume capacity
Growing Patent Portfolio 54 Granted Patents in
28 Patent Families.35 Patents Pending
2021 goal: >150 patents
R&D Offices in Silicon Valley, Canada and
London, UK; Growing team of renowned
scientists and proven leaders
Strategic Partnerships Relationships with
Fortune500 Companies across multiple industries
Balanced Revenue Model – B2B product sales, material sales, OEM arrangements with
expected licensing income from highest-volume
partners
‘Meta’ – from the Greek word to Go Beyond.
The Financial Times listed the breakthroughs in metamaterials in the 50 Ideas to Change the World
12
Design/Software AI Driven & Testing
Large Area Nano-patterning
Final Product Assembly
B2B OEM Customer or
Partner
RawMaterials
META works with raw material vendors & Original Equipment Manufacturers.
META is developing a library ofproprietary materials
• High quality, proprietary large area patterning
• Lower production costs, roll-to-roll capable
• Multi-functionality in a single area (e.g. transparent + conductive + signal enhancement)
• Lightweight and flat, ready for vertical stacking/integration
• Precise control with more materials choice to enable stronger light-matter interactions
• Higher performance (up to 40x)
• Mass customizable designs, building libraries of materials, structures and arrangements
• Manufacturing in minutes vs. several hours
• Sustainable raw materials & products
META is a Key Player in the Value Chain
Key Advantages vs.Competition:
+e.g. 5G antennasTechnology Platform
13
Advanced Materials Competitive Landscape
Source: LUX Research and Internal META estimates
Existing META relationships
14
META’s lithography capability enables fabrication of sensors & antennas completely invisible to the human eye.
META’s touch sensors and transparent 5G antennas can be integrated into smartphone displays, on windows of vehicles or buildings and home appliances.
META’s antennas can operate from low to high frequencies (3G, 5G/6G and beyond) and provide communication systems for conventional, EV and autonomous vehicles.
In 2019, META partnered withSamsung’s Advanced Institute of Technology team, to develop transparent fingerprint sensors suitable for next generation smartphones and tablets.
COMPETITIVE ADVANTAGE
Case Study: Transparent
Sensors and 5G Antennas
Source: Internal META estimates
“Transparent fingerprint sensors were fabricated to have lower resistance and higher transmittance compared to the conventionalsensors.
Fingerprint sensors made with RML can have lower sheet resistance and higher visible light transmittance than the sensors made of conventional transparent conductor materials, such as ITO and silver nanowires”
Source: Conference of the Next Generation Lithography 2019 (public information) Hyun-Joon Kim-Lee1.
CO-DEVELOPMENT PARTNER:
Bizarre New Materials Could Make Bendy Phones That Work” featured on WIRED.COM
15
Broad And Growing Target Applications
Non-invasive glucose monitoring,
Vital sign monitoring,
Faster MRI imaging,
Zero-radiation, early-stage screening
for Cancer and Stroke.
Augmented Reality, 5G
Displays & Touch Screens,
Transparent Antennas & EMI Shielding
Next Generation Solar Cells
Thermal Management
Consumer Electronics
Health and Wellness
EnergyAerospace/Defense
De-icing and De-fogging,
Transparent EMI Shielding,
Laser Protection, Security
AutomotiveHead-up Displays, 5G and LiDAR
enhancements, Passenger
Biosensors, De-icing and De-fogging,
Light management
What are Metamaterials?
Derive their properties from their novel structures (and not bulky
materials), allowing them to directly affect light, radio waves and other forms of electromagnetic waves.
Potential to improve virtually any industry they “touch”.
16
META Transparent Window Film Transforms Outdoor 5G Coverage
17
META Invisible Antenna to Enhance Indoor 5G and Digital TV Reception
META Transparent EMI Shielding - Transforms Cooking Visibility, Safely
19
META Nano-heater to Protect Sensors - Transparent to RADAR and LIDAR Simultaneously
EMI Shielding- 2x more electromagnetic
shielding and
clearer view
- Initial target: microwave-
convection combo ovens
- Expansion to countertop
microwaves with scale
Communications- Invisible antenna / reflector
for passive 5G network
optimization on buildings.
- Transparent antenna for
cars, and smartphones.
- Foldable displays for next
generation smartphones
Consumer Electronics, Communications, Health & Wellness – Example Applications
Augmented Reality- Smart eyewear displays
- Specialty Optics
- metaFUSION™
technology integrates
AR functions with more
sustainable production
of prescription lenses
Source: Internal META estimates
Image: Royole Corporation
Over $13Bn of Total Addressable Market
21
Molecular Biosensor- Bio-photonic sensor with
performance and
sensitivity enhanced using
nanomaterial for molecular
fingerprint detection.
- Rising demand for
point of care testing.
Selected Target Co-Development Partners and Customers inAutomotive, Medical, Aerospace & Defense, Consumer Electronics and Energy
22
Solving Global Challenges Together With
OEM Partners And Customers
22
Investment Priorities 2021-2022
1. Acquire and launch Pilot Scale roll-to-roll functional film production capability by year-end 2021, estimated $10M CAPEX
2. Customer Center including META’s pilot line, to license, train and sell duplicates internationally
3. Healthcare and Wellness applications led by current customer engagements, estimated spending $3M
4. Applied R&D, increased headcount, estimated spending $3M
Initial roll-to-roll production equipment: operational year-end
Expansion equipment and clean room labs: operational 4Q21
23
Design, Test Samples Wafer Scale Validation R2R Licensed Pilot Line
Design Verification• Produce samples
to customer spec• Test samples• Scope proposal for
Phase 2 NRE (Funded R&D)
Performance Validation • Complete
Phase 2 NRE• Produce Beta lot for
customer use• Pilot scale production
contract and scope
Multiple Revenue Streams
Production at Scale• Cost model validation with
customer• Produce pilot scale lot for
customer use• Commercial scale license
and material supply agreement
Revenue Streams1. License Fee2. Master-Supply3. Royalties4. Equipment Supply5. Raw Material Supply
Agreement6. Service NRE contract
(META owns IP)
Scalable Revenue and Business Model
24
Executive Team
George Palikaris, Ph. D.President and CEO, Founder12 years in leadership positions of high-tech startups. Goldman Sachs (10KSB), MIT Enterprise and EY awards for entrepreneurship, Stanford, Harvard, INSEAD Exec Ed. 50+ patents, 3 industry awards.
Jonathan Waldern, Ph. D.Chief Technology Officer25 years experience in commercialization of holographic andlithographic/nanomaterials for photonic applications, inventor and visionary with 140+ patents
Themos Kallos, Ph. D.Chief Science Officer, Co-Founder10 years experience in applied physics, intellectual property development in metamaterial applications, 40+ filed patents and 50+ publications
Kenneth Rice, MBA, JD, LLMChief Financial Officer & EVP30+ years experience, public and private company CFO, in-house counsel, operations, and corporate development executive in technology and life sciences
Gardner WadeChief Product Officer20+ years in managing development engineering of high-definition optical eyewear for global brands in military, flight and performance sports applications
25
Selected Financial Highlights – Q3:20 YTD (CAD)
This information should be read in conjunction with the complete financial statements and the associated management discussion and analysis, available on the Investors section of our website at www.metamaterial.com, as well as under the Company’s profile on SEDAR at www.sedar.com
Q3:20 YTD includes 1-time costs of CAD$3.3M in RTO listing costs
26
Capitalization
>$75Minvested to
date in
META
• Lockheed Martin ITB $5.6M• Airbus ITB $3.0M• Babcock ITB $1.3M• Satair Distribution License $1.3M• M&A Activities1 $7.2M• BDC Capital – Cleantech Fund $5.0M• Radar Capital $4.4M• Lark Investments, Caixa Capital, VTB
Capital, URBANA Corporation $6M• Innovacorp VC $3.0M• SDTC Cleantech Fund $5.6M• ACOA $7.0M • UK Research & Innovation $6.7M• Other2 $2.5M • Retail and Family Office Equity• Retail Convertible Debentures.
27
Institutional
Government (non-dilutive)
Industry Partner and M&A (Strategic)
Notes:1 $7.2M Acquisition (Book Value basis) Mediwise Ltd. & Rolith Inc.2 META has also executed in the last 10 years, numerous innovation projects ranging from
$5k to $800k, with a total value exceeding $2.5M.- META currently has approximately $4.3M under non-dilutive funding contracts.- META has identified approximately $30M of additional non-dilutive funding that couldbecome awarded, though there is no guarantee.
$18.4
$18.4
$21.8
Retail & Other Investors
$17.0
Historical Funding (CAD):
Source: Internal META estimates, Currency in CAD $
Team
IP
Established & De-risked Tech Platform
Global Partnerships
Growth
Leading the NEXT AGE of “invisible"
highly functional metamaterials
Scalable & Sustainable
Products
OEM
and Fortune 500
companies, from
diverse industries
provide direction,
funding and
ready outlets for
our novel products
with multiple
potential revenue streams
NASDAQ’s first ever
Metamaterials Company
– 1st mover advantage.
Access to Non-dilutive
government funding
provides significant
match of equity and/or
debt financing
Software driven
simulation tools
Proprietary
Manufacturing &
Design Platform
Broad and
Growing IP
Estate
Multinational
Subject Matter
Experts
28
Appendix Company Timeline, Intellectual Property,
Board of Directors, Key Asset acquisition,
Product roadmap, Product Application Examples
30
Company Timeline
31
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
1st Patent Filed
Algorithm Developed
Acquisition
Acquired Rolith Inc.
(Pleasanton, CA, USA)
20 Patents families
AcquisitionAcquired Mediwise. (London, UK)28 Patent Families
Global DistributionAgreement with SATAIR
1st Major OEM Deal
Prototype, Proof of Platform
Series A and OEMKey supply and licensing partnerships with Boeing, Artemis optical and Covestro
Product Launch
Listed to Trade
on CSE
Partnership with
Lockheed Martin
MRI & GlucoWise
begin Human Testing
University
Collaborations
UNB, UdeM
New Head Office
Halifax, NS Canada
NRC & NSERC
Grants
Partnership with
31
IDTechEx Best Manufacturing Technology Award (for NanoWeb®)
MIT Sponsored Business Award (for GlucoWise®)
Up-listing in
Progress
Best Aviation Product
Intellectual Property & Know-How
• 89 filed patents (54 granted) across 28 patent families (21 granted)
• 5 registered trademarks
• Proprietary, custom manufacturing processes and trade secrets, developed over 10 years with multi-million $ investment
• Processes and methods were patented early, providing multi-year advantage over the competition
Source: META IP Portfolio - Last updated Jan 15th 2020
Holography4
Lithography12
MRI3
GlucoWise3
LED/Solar3
Other3
Patent Families Breakdown
32
Board of Directors
Ram Ramkumar, B Tech, MBAChairman10 years private investor in technology 35+ years on boards of numerous top TSX- and NASDAQ-listed companies
George Palikaras, Ph. D.Founder, President and CEO12 years in leadership positions of high-tech startups. Goldman Sachs, MIT Enterprise and EY awards for entrepreneurship, Stanford, Harvard, INSEAD Exec Ed. 50+ patents, 3 industry awards.
Maurice GuittonDirectorAerospace industry veteran, inventor and entrepreneur, 40+ years experience in composite advanced materials, Former President and CEO of Composites Atlantic (now STELIA)
Allison Christilaw, MBA, ICD.DDirector20+ years Strategy Expert, Governance, HR, Management Consulting. Sold her business to Deloitte Canada
Steen KarsboDirectorClose to 40 years of experience in aviation industry management and consulting. Various senior management positions for Satair, an Airbus company, with $2.2B Sales
Eric LeslieDirector28 years experience in management consulting, venture advisory, and as an officer and or director of numerous public and private companies. President of high-tech Battery company
33
Interglass Acquisition Builds AR One-Stop-Shop
• metaFUSION™ integrated high-functional metamaterials combined with lens casting technology developed by Interglass Technology AG
• META acquired assets & IP of Swiss lens manufacturer Interglass Technology AG, 70+ patents, trademarks and trade secrets, proprietary software and designs
• High volume fully automated lens casting, workstations, tools, test equipment, and technical data
• Proprietary specialty materials/foils supply in cooperation with Covestro AG
• Supports just-in-time production of prescription lenses and embedded elements such as optical combiners, waveguides, and eye tracking sensors
• Highly Sustainable Process:
• Less energy (10sec vs 50hrs curing time)
• Zero water usage
• Less material
$1.5B Augmented Reality Eyewear MarketSource: BCC Research
34
Product Development Roadmap Summary
High-Volume Vertical Market Focused Products
Non-Recurring Engineering Projects
Objectives:Test and refine new product conceptsPrototype and produce early unitsDesign production process including scale-upCover costs, obtain new IP
Sources:Original Equipment Manufacturer (OEM) clientsGovernment grants
Applied Research and Development
Objectives:Test and refine core technologiesPrototype and produce early unitsDesign production process including scale-up
Funding Sources:Working CapitalGovernment grants
• Automotive• Aerospace & Defense• Consumer Electronics
• Energy/Solar• Health and Wellness Applications
35
Application Roadmap – NearTerm (18 months)
PARTNERS: Leading AR
companies, Top Automotive
OEMs, Tier 1 Automotive suppliers
CAPEX INVESTMENT / SOURCE:
Existing In-house, new roll-to-roll
capacity to be installed in 2021
PRODUCTION CAPACITY:
Very High volumes
REVENUE POTENTIAL*
$50.0M/yr1,000,000 units @ $50 / Unit
Augmented RealityOptical components for Augmented
Reality systems & head-up displays
PARTNERS: OEM eyewear
manufacturers, Law
enforcement agencies,
Commercial optical component
marketplace
CAPEX INVESTMENT / SOURCE:
Existing In-house
PRODUCTION CAPACITY :
High volumes
REVENUE POTENTIAL*
$20.0M/yr200,000 units @ $100 / Unit
Optical Filters and Laser ProtectionmetaVISIONTM Advanced Optical metaAIR® eyewear laser protection
Components
PARTNERS: Satair, Airbus,
Covestro, RCMP, Lufthansa
Technik
CAPEX INVESTMENT / SOURCE:
Existing In-house
PRODUCTION CAPACITY:
High volumes
REVENUE POTENTIAL*
$38.0M/yr48,000 units @ $800 / Unit
PARTNER: Eyewear OEMs,
Government Agencies, Headgear
OEMs
CAPEX INVESTMENT / SOURCE:
In progress (installation Q4 2020)
PRODUCTION CAPACITY:
Low volumes until 2021
REVENUE POTENTIAL*
$10.0M25,000 units @ $400 / Unit
Transparent HeatersNanoWeb® film-based
heating/defogging
*Source: Internal META estimates based on META’s forecasted annual manufacturing capacity (5days, 2 shifts) and avg. selling price
per unit (pricing may vary depending on volume orders)
Functional metamaterial films for Aerospace& DefenseandConsumerElectronicsmarkets
Transparent AntennasNanoWeb® film-based antennas
casted into glass for 5G comms
PARTNERS:
Tier 1 Glass OEMs and TelCo
CAPEX INVESTMENT / SOURCE:
In progress (installation Q4 2020)
PRODUCTION CAPACITY:
Low volumes until 2021
REVENUE POTENTIAL*
$3.0M/yr100,000 units @ $30 / Unit
36
Application Roadmap – Mid Term (2-5yrs)
SolarCoating that improves solar
panel efficiency,
Transparent conducting
electrodes, ITO replacement
PARTNERS:
ENEL Green Power, Solar
OEM manufacturers,
Lockheed and other
Aerospace OEMs
MARKET POTENTIAL*
$7.6Bby 2025 (CAGR 9.2%)
Transparent
HeatersTransparent conducting
film, ITO replacement
(heating/defogging)
PARTNERS:
Tier 1 glass OEMs,
Automotive OEMs,
TelCo OEMs
Transparent
EMI ShieldingNanoWeb film-based
protection against
electromagnetic
interference
PARTNERS:
Consumer Electronics
OEMs, Aerospace
OEMs, Automotive
OEMs, Tier 1 Suppliers
DisplaysOptical components for
large area displays
(smartphones, tablets, TV
screens)
PARTNERS:
TelCo OEMs, Automotive
OEMs, Tier 1 projector
OEMs
MARKET POTENTIAL*
$14.2Bby 2025 (CAGR 9.2%)
Touch Sensor for
Flexible DisplaysNanoWeb placed below
the screen to provide
Touch functions
PARTNER:
TelCo OEMs
Energy
HarvestingNanoWeb films
as insulators &
electrodes
PARTNER:
Energy OEMs
*Source: BCC Research, Internal META estimates
Functional metamaterial films for Automotive,5G Connected, andEnergymarkets
According to BCC Research, the global market for transparent conductive films (such as ITO, metal-mesh, silver nanowires, graphene, etc) and related technologies should grow from $4.9 billion in 2020 to $7.6 billion by 2025 with a compound annual growth rate (CAGR) of 9.2% for the period of 2020-2025.
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Functional metamaterials for Health and Wellness market – Licensing/ProjectFinancingopportunities
MARKET POTENTIAL*
$2.0+B
MRI Medical ImagingMRI Imaging with metamaterial film
MARKET POTENTIAL*
$4.0+B
Early-Stage Breast Cancer
ScreeningRadio-wave Imaging for breast
screening with metamaterial film
*Source: Internal META estimates
MARKET POTENTIAL*
$15.0+B
Non-invasive GlucometerDual Sensor mm-wave technology with
metamaterial film (www.gluco-wise.com)
Application Roadmap – Mid Term to Long Term (2-7yrs)
Daily use Bio-photonic sensor with
sensitivity and performance enhanced
using nanomaterial to meet
rising demand for point of care testing.
MARKET POTENTIAL*
$10.0+B
Molecular Biosensor
Image Enhancement Sensor enhancement
Supported by
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Solar Energy – Example Application
Source: Internal META estimates
Over $5Bn of Total Addressable Market
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Ultra-thin, Light and Flexible- Ideal for the transportation industry
- Adds onboard power, charging
Increases Solar Cell Efficiency- Traps light that would otherwise be
reflected, increases absorption
Angular Absorption- Captures sunlight from all angles
- Eliminates costly tracking systems
Scalable- Can be sized for small or large areas
- Applied to flat or curved surfaces
Autonomous Vehicles - Vehicle Electrification with
solar roofs to increase
range and autonomy
- LiDAR, 5G and V2V
sensing for improved
Safety outcomes
Head-up Displays- Reduce driver Distraction
- Decrease Reaction Time, reduce
vehicle weight to improve range
- Potential for 37 million units by 2030
Automotive – Example Applications
De-Icing / De-Fogging- Active Transparent and
Ultra-lightweight
De-Icing & De-fogging of
Windshields, Headlights
and Sensors
Source: Internal META estimates
Over $1Bn of Total Addressable Market
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Daily use Biosensor with sensitivity and performance enhanced
using nanomaterial, to meet rising demand for point of care testing.
MARKET POTENTIAL
$10+B
Molecular Biosensor
Biosensors - Applications in Development
Source: Internal META estimates. Global Biosensors Market Is Expected to Reach USD 41.29 billion by 2027 : Fior Markets 10/2020
Expansion towards Biosensor Applications – Licensing/Project Financing opportunities
Biosensor platform technology for multi-day use, instantaneous, Point of Care (POC) tests, using a miniature device which is carried continuously by workers or consumers. This smartphone attached biosensor under development uses nanomaterial for molecular fingerprint detection in a range of applications (such as COVID19 and others)
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