Voltabox Initiates New Market Strategy in Intralogistics - First Distributors and End Customers Acquired After Entrance Into Direct Sales

- Direct market access of intralogistics applications as additional sales channel for Voltabox

- Voltabox's established cooperation with Triathlon Batterien to continue

- Accelerated expansion of competitive position in lithium-ion battery systems for intralogistics applications

- Partnership with high-profile industrial truck distributor is first success of own sales activities

Delbrück, Germany, June 19, 2018 - Voltabox AG [ISIN DE000A2E4LE9] announced today that it will be expanding its close partnership with Triathlon Batterien GmbH. In parallel with the successful cooperation with Triathlon, Voltabox is also initiating direct sales of its battery systems for intralogistics applications.

Market estimates expect the annual global market volume for battery systems in intralogistics to increase to around 1.5 million units, with a total market value of about $ 16 billion, by 2027. Due to the clear total cost benefits for users over conventional lead-acid batteries, there will be a considerable increase in modern lithium-ion battery systems to two-thirds of all the batteries sold in intralogistics worldwide.

As the leading supplier of modern lithium-ion battery systems for forklifts and automated guided vehicles, Voltabox aims to utilize this massive growth potential and decisively shape the ongoing process of using substitutes for conventional lead-acid batteries. The company announced this goal as part of its initial public offering (IPO) in October 2017 and is now taking an important step in executing it.

The cooperation with Triathlon Batterien GmbH, who has been the company's partner since 2014, is now being fundamentally updated. Triathlon will supply Voltabox's battery modules to continue to secure common cost advantages, and with it, will cover the increasing demand for lithium-ion-based systems for industrial applications. Additionally, Voltabox is now taking over direct sales to intralogistics companies across the whole of Europe and North America. According to the previous agreement with Triathlon, this direct market access would only have been possible starting in 2020. With this new agreement, the two companies will as of now simultaneously sell lithium-ion battery systems to customers for industrial trucks, jacking systems, cleaning machines and interruption-free emergency power supplies.

"The collaboration with Triathlon gave us our first indirect access to an important growth market. We are now taking the next obvious step and closing the gap to sell directly to forklift manufacturers," says Jürgen Pampel, Chief Executive Officer of Voltabox AG. "Manufacturers and major customers expect a direct supply so that they can meet their specific requirements for lithium-ion-based battery systems even faster. We are thus complementing our work perfectly with Triathlon's sales network."

"We are receiving more and more requests for innovative, safe and reliable battery systems. Our close and trusting partnership with Voltabox ensures that we can optimally meet this need. This step is therefore especially valuable because, through this cooperation, we can harness potential synergies even better than before," elaborates Martin Hartmann, Managing Director of Triathlon Batterien GmbH.

The first payoff from the simultaneously initiated expansion of the Voltabox team for direct sales comes in the form of orders for the supply of lithium-ion battery systems to a high-profile, large-scale German industrial company by an authorized industrial truck distributor. In the future, Voltabox will supply both OEM manufacturers in the intralogistics industry and large forklift truck fleet operators with high-quality battery systems - both in the European and U.S. markets.

In terms of the supply agreement between Voltabox and Triathlon, the concluded contract provides for the sale of Voltabox's lithium-ion battery systems designated for the EU to be assembled by Triathlon from now on. Voltabox will produce and deliver the modules, while Triathlon will install troughs as well as system and module electronics. The agreement stipulates that Triathlon will purchase a minimum number of modules. The lithium-ion battery systems for the North American region will be assembled by Voltabox of Texas, Inc., commencing immediately. Triathlon will deliver troughs as well as system and module electronics to Voltabox for these systems.

The already-high order backlog for battery modules and systems for intralogistics as well as the expected future demand in this market segment as a result of the new positioning will lead to optimized utilization of the automated series production. This will enable improved economies of scale, which could have a positive effect on the margin as early as the second half of the year if everything goes according to plan. According to the management of Voltabox AG, this should have no effect on the previously published forecast for the 2018 fiscal year.

About Voltabox AG

Voltabox is a high-growth e-mobility system provider for industrial applications. Its core business lies in intrinsically safe, highly developed high-performance lithium-ion batteries that are modular and in serial production. The battery systems are used in buses for public transportation, forklifts, automated guided vehicles and mining vehicles. The company also develops and produces high-quality lithium-ion batteries for selected mass market applications, such as high performance motorcycles. Voltabox has production sites at its headquarters in Delbrück, Germany, and in Austin, Texas, as well as a development site in Aachen, Germany. Additional information about Voltabox can be found at www.voltabox.ag/en/.

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