Nano Dimension (NNDM) AGM 2024 Presentation summary

Strategic transformation and value creation

• Achieved significant scale through disciplined M&A, including acquisitions of Desktop Metal and Markforged, with expected combined revenue of $340M and $475M in cash at closing to support growth.

• Delivered 29% organic revenue growth (FY23 vs. FY22), 1300 bps gross margin improvement, and 69% reduction in cash burn (H1'24 vs. H1'23).

• Outperformed industry peers in share price performance over 1-, 3-, and 5-year periods, and since CEO Stern’s appointment.

• Flexible capital allocation with over $160M in share buybacks since August 2022 and nearly $1.5B raised from 2020-2021.

• Clear path to EBITDA positivity by Q4 2026, driven by operational efficiencies and synergy realization from acquisitions.

Board leadership and governance

• Board consists of eight highly qualified directors, seven of whom are independent, with diverse skills aligned to growth strategy.

• Enhanced governance includes separation of Chairman and CEO roles, board size reduction, and ongoing refreshment with three new directors since 2022.

• Directors targeted by activist Murchinson, including CEO Yoav Stern and General Michael X. Garrett, are deemed critical for strategic oversight.

• CEO compensation is closely tied to performance, with ~90% of annual target compensation linked to stock price and financial metrics.

• Board’s expertise spans public company leadership, industrial technology, M&A, and financial stewardship.

Murchinson’s proposals and company response

• Murchinson criticized for lacking a value creation plan, relevant director nominees, and understanding of the business.

• Proposals from Murchinson aim to restrict M&A activity and remove key directors, which management claims would paralyze strategy and risk long-term value.

• Murchinson’s nominees are described as unqualified, lacking additive manufacturing experience, and having questionable track records.

• Management asserts that Murchinson’s agenda is to liquidate the company for short-term gain at the expense of other shareholders.

• Shareholders are urged to vote in favor of management’s proposals to protect long-term value and ongoing transformation.