UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

For the month of: November 2020 (Report No. 2)

 

Commission file number: 001-37600

 

NANO DIMENSION LTD.

(Translation of registrant’s name into English)

 

2 Ilan Ramon

Ness Ziona 7403635 Israel

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒          Form 40-F ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(1):_____

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(7):_____

  

 

 

 

 

  

CONTENTS

 

This Report of Foreign Private Issuer on Form 6-K consists of: (i) the Registrant’s press release issued on November 12, 2020, titled “Nano Dimension Reports 2020 Third Quarter Financial Results,” which is attached hereto as Exhibit 99.1, and (ii) the Registrant’s corporate presentation which was posted on its website, which is attached hereto as Exhibit 99.2.

 

The first two paragraphs, the sections titled “Third Quarter 2020 Financial Results,” “Nine Months Ended September 30, 2020 Financial Results,” “Balance Sheet Highlights,” and “Forward-Looking Statements,” and the IFRS financial statements in the press release are incorporated by reference into the registration statements on Form F-3 (File No. 333-217173333-233905333-237668333-249184 and 333-249559 ) and Form S-8 (File No. 333-214520 and 333-248419) of the Company, filed with the SEC, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.

 

Exhibit No.    
     
99.1   Press Release issued by Nano Dimension Ltd. on November 12, 2020, titled “Nano Dimension Reports 2020 Third Quarter Financial Results.”
99.2   Corporate Presentation of Nano Dimension Ltd., dated November 12, 2020.

  

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Nano Dimension Ltd.
  (Registrant)
     
Date: November 12, 2020 By: /s/ Yael Sandler
  Name:  Yael Sandler
  Title: Chief Financial Officer

 

 

2

 

Exhibit 99.1

 

 

 

Nano Dimension Reports 2020 Third Quarter Financial Results

 

Conference call to be held today at 9:00 a.m. EST

 

Sunrise, Florida, November 12, 2020Nano Dimension Ltd. (Nasdaq: NNDM), a leading Additively Manufactured Electronics (AME)/PE (Printed Electronics) provider, today announced financial results for the third quarter ended September 30, 2020. 

 

Nano Dimension reported revenues of $438,000 for the third quarter of 2020. The Company ended the quarter with a cash and deposits balance of $45,720,000 (including short and long-term unrestricted bank deposits), while net loss for the third quarter was $20,716,000 and negative adjusted EBITDA for the third quarter was $3,373,000.

“These are not disappointing results per se,” said Yael Sandler, Chief Financial Officer of Nano Dimension. “As we have projected starting April 2020, the reduced revenues in 2020 as a result of the COVID-19 pandemic being prolonged and re-emerging crises, were in fact expected to be lower than we have achieved. Actually, in APAC, the revenues have seemed to already start a modest recovery in the fourth quarter of 2020. We believe that the United States is still in a process of downswing of capital expenditures under the influence of the COVID-19 pandemic, and European prospective customers are sinking back toward a commercial stand still, under the effects of its second wave. As the market stagnation is prolonged, understandably hesitant and/or careful customers tend to delay investments in breakthrough, new prototyping and fabrication technologies of unique Hi-PEDs™ (High Performance Electronic Devices). While the phenomena are clear and present, they are probably temporary,” concluded Ms. Sandler.

 

Mr. Yoav Stern, Chief Executive Officer and President of Nano Dimension commented: “The expectation of our market growth has not changed, and we believe that this is a interim delay. We expect the mid-term slow-down effect to act like a “sling shot” once COVID-19 will start to phase-out.1 The pressure of the trade struggles with the East is already creating an interest for reshoring electronic manufacturing. Nano Dimension technology is ideally positioned as our 3D printing machines for Hi-PEDs™ are an environmentally friendly non-polluting fabrication and overnight prototyping methodology, fitting for setting up fabrication facilities in-house on the western continents.”

 

Mr. Stern concluded: “As per above, we are not judging, at this point, our success by quarterly revenues. That will come later. Nano Dimension operates along an expected fail-safe investment model, where upside may resemble Biotech investments, but, contrary to those, downside in case of failure at any stage is somewhat hedged and hence protected. We have sold 60 machines already, mostly to leading blue chip defense, academic and commercial organizations worldwide. It is reasonable to assume that in case a decision is made at the right time, a sale of our existing business at improving multiples, as per future stages, is a doable task. On the upside, an exponential growth post COVID-19 may lead us to an unprecedented leadership role. Our future “Stages” as defined at this point (subject to adjustment based on advancement in R&D) are: Stage I: Materials at Commercial-Specs, Stage II: Materials at Industrial-Specs, Stage III: Materials at Mil-Specs, Stage IV: Low Production Volume 3D-System, Stage V: Medium Production Volume 3D-System.”

 

 

1 IDTechEX (2019): The total market for 3D printed electronics will be worth $2.3 billion by 2029 and will be dominated by the professional PCB prototyping market segment. The educational and industrial production market segments will continue to grow steadily.

The market for professional PCB prototyping is currently growing very rapidly, almost entirely due to market leader Nano Dimension, and has already overtaken the consumer and education. This growth will slow but this market segment will become the largest by 2020.

DataM Intelligence (2018): Analysts predict 3D printed electronics will be the next high-growth application for product innovation: 2017 3D printed electronics market size is estimated at $176 million, expected to reach $592 million in 2021 and up to $2.4 billion by 2025.

Transparency Market Research (2018): The global 3D printed electronics market was valued at US$ 137.1 million in 2017 and is expected to expand at a CAGR of 44.46% from 2018 to 2026, reaching $ 3.9 billion by the end of the forecast period.

 

 

 

 

Third Quarter 2020 Financial Results

 

Total revenues for the third quarter of 2020 were $438,000, compared to $288,000 in the second quarter of 2020, and $2,243,000 in the third quarter of 2019. The decrease is attributed to continuing delays in identified transactions of DragonFly systems, which the Company primarily attributes to the impact of COVID-19.
   
Research and development (R&D) expenses for the third quarter of 2020 were $2,556,000, compared to $1,895,000 in the second quarter of 2020, and $2,083,000 in the third quarter of 2019. The increase compared to both the second quarter of 2020 and the third quarter of 2019 is attributed to an increase in payroll and related expenses, as the Company is temporarily shifting resources from sales and marketing to product enhancements, as well as an increase in share-based payment expenses.

 

Sales and marketing (S&M) expenses for the third quarter of 2020 were $2,475,000, compared to $930,000 in the second quarter of 2020, and $1,217,000 in the third quarter of 2019. The increase compared to both the second quarter of 2020 and the third quarter of 2019 is attributed to an increase in share-based payment expenses.
   
General and administrative (G&A) expenses for the third quarter of 2020 were $14,805,000, compared to $908,000 in the second quarter of 2020, and $799,000 in the third quarter of 2019. The increase compared to both the second quarter of 2020 and the third quarter of 2019 is attributed to an increase in share-based payment expenses. In the third quarter of 2020, we recognized share-based payment expenses of approximately $13,617,000 with respect to warrants granted to our CEO and President and to one of our directors.
   
Net loss for the third quarter of 2020 was $20,716,000, or $0.45 per share, compared to $8,265,000, or $0.27 per share, in the second quarter of 2020, and $4,308,000, or $1.21 per share, in the third quarter of 2019. The increase compared to both the second quarter of 2020 and the third quarter of 2019 is mainly attributed to share-based payment expenses of approximately $15,852,000 that were recognized in the third quarter of 2020.

 

Nine Months Ended September 30, 2020 Financial Results

 

Total revenues for the nine months ended September 30, 2020 were $1,428,000, compared to $5,093,000 in the nine months ended September 30, 2019. The decrease is attributed to less sales of DragonFly systems, which the Company primarily attributes to the impact of COVID-19.
   
R&D expenses for the nine months ended September 30, 2020 were $6,153,000, compared to $6,557,000 in the nine months ended September 30, 2019. The decrease resulted primarily from a decrease in payroll and related expenses and materials expenses, partially offset by an increase in share-based payment expenses.
   
S&M expenses for the nine months ended September 30, 2020 were $4,224,000, compared to $4,088,000 in the nine months ended September 30, 2019. The increase is mainly attributed to an increase in share-based payment expenses, partially offset by a decrease in marketing and advertising expenses.
   
G&A expenses for the nine months ended September 30, 2020 were $16,748,000, compared to $2,389,000 in the nine months ended September 30, 2019. The increase is mainly attributed to an increase in share-based payment expenses. In the nine months ended September 30, 2020, we recognized share-based payment expenses of approximately $13,617,000 with respect to warrants granted to our CEO and President and to one of our directors.
   
Net loss for the nine months ended September 30, 2020 was $31,055,000, or $1.11 per share, compared to $6,972,000, or $2.08 per share, in the nine months ended September 30, 2019. The increase is mainly attributed to share-based payment expenses of approximately $16,797,000 that were recognized in the nine months ended September 30, 2020.

 

2

 

 

Balance Sheet Highlights

 

Cash and cash equivalents, together with short and long-term bank deposits totaled $45,720,000 as of September 30, 2020, compared to $3,894,000 as of December 31, 2019. The increase compared to December 31, 2019, mainly reflects proceeds received from the sale of American Depositary Shares representing the Company’s ordinary shares, less cash used in operations, during the nine months ended September 30, 2020.

 

Shareholders’ equity totaled $52,691,000 as of September 30, 2020, compared to $11,602,000 as of December 31, 2019.

 

Conference call information

 

The Company will host a conference call to discuss these financial results today, November 12, 2020, at 9:00 a.m. EST (4:00 p.m. IDT). Investors interested in participating are invited to register for the conference call here: https://dpregister.com/sreg/10149108/db3a251138. Dial-in numbers, including a local Israeli number and instructions, will be provided upon registration. U.S. Dial-in Number: 1-844-695-5517, International Dial-in Number: 1-412-902-6751, Israel Toll Free Dial-in Number: 1-80-9212373. Please request the “Nano Dimension NNDM call” when prompted by the conference call operator. The conference call will also be webcast live from the Investor Relations section of Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.

 

For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.

 

About Nano Dimension

Nano Dimension (Nasdaq: NNDM) is a provider of intelligent machines for the fabrication of Additively Manufactured Electronics (AME). High fidelity active electronic and electromechanical subassemblies are integral enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. They necessitate iterative development, IP safety, fast time-to-market and device performance gains, thereby mandating AME for in-house, rapid prototyping and production. Nano Dimension machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers and electromechanical components, to function at unprecedented performance. Nano Dimension bridges the gap between PCB and semiconductor integrated circuits. A revolution at the click of a button: From CAD to a functional high-performance AME device in hours, solely at the cost of the consumable materials. For more information, please visit www.nano-di.com.

 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Nano Dimension’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. For example, Nano Dimension is using forward-looking statements when it discusses the expected impact of the COVID-19 pandemic and the expected growth once it starts to phase out, the expected recovery of its revenues, including in APAC, its investment model, potential sale at improving multiples and its future stages. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano Dimension’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 10, 2020, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Nano Dimension is not responsible for the contents of third party websites. 

 

NANO DIMENSION INVESTOR RELATIONS CONTACT

Yael Sandler, CFO | ir@nano-di.com

 

3

 

 

Unaudited Consolidated Statements of Financial Position as at

 

    September 30,     December 31,  
    2019     2020     2019(*)  
(In thousands of USD)                  
Assets                  
Cash and cash equivalents     5,466       21,020       3,894  
Bank deposits             16,300          
Restricted deposits     31       60       31  
Trade receivables     2,348       568       1,816  
Other receivables     458       661       570  
Inventory     3,620       4,032       3,543  
Total current assets     11,923       42,641       9,854  
                         
Bank deposits     -       8,400       -  
Restricted deposits     359       379       377  
Property plant and equipment, net     4,979       4,735       4,743  
Right of use asset     4,054       2,478       2,673  
Intangible assets     5,404       4,633       5,211  
Total non-current assets     14,796       20,625       13,004  
Total assets     26,719       63,266       22,858  
                         
Liabilities                        
Trade payables     487       842       850  
Other payables     3,448       4,420       3,575  
Total current liabilities     3,935       5,262       4,425  
                         
Liability in respect of government grants     811       883       1,044  
Lease liability     3,476       1,829       2,089  
Liability in respect of warrants and rights of purchase     7,575       2,601       3,698  
Total non-current liabilities     11,862       5,313       6,831  
Total liabilities     15,797       10,575       11,256  
                         
Equity                        
Share capital     5,559       66,252       6,441  
Share premium and capital reserves     64,023       77,535       65,202  
Treasury shares     (1,509 )     (1,509 )     (1,509 )
Presentation currency translation reserve     1,431       1,431       1,431  
Accumulated loss     (58,582 )     (91,018 )     (59,963 )
Total equity     10,922       52,691       11,602  
Total liabilities and equity     26,719       63,266       22,858  

 

(*) The December 31, 2019 balances were derived from the Company’s audited annual financial statements.

 

4

 

 

Unaudited Consolidated Statements of Profit or Loss and Other Comprehensive Income

(In thousands of USD, except per share amounts) 

  

    For the Nine-Month Period
Ended
September 30,
    For the Three-Month Period
Ended
September 30,
    For the Year ended December 31,  
    2019     2020     2019     2020     2019(*)  
                               
Revenues     5,093       1,428       2,243       438       7,070  
                                         
Cost of revenues     3,183       890       1,224       301       4,312  
                                         
Cost of revenues - amortization of intangible     579       579       193       193       772  
                                         
Total cost of revenues     3,762       1,469       1,417       494       5,084  
                                         
Gross profit (loss)     1,331       (41 )     826       (56 )     1,986  
                                         
Research and development expenses, net     6,557       6,153       2,083       2,556       8,082  
                                         
Sales and marketing expenses     4,088       4,224       1,217       2,475       5,469  
                                         
General and administrative expenses     2,389       16,748 (**)     799       14,805 (**)     3,270  
                                         
Operating loss     (11,703 )     (27,166 )     (3,273 )     (19,892 )     (14,835 )
                                         
Finance income     6,923       171       100       41       8,765  
                                         
Finance expense     2,192       4,060       1,135       865       2,283  
                                         
Total comprehensive loss     (6,972 )     (31,055 )     (4,308 )     (20,716 )     (8,353 )
                                         
Basic loss per share (after 1:50 reverse split effective June 29, 2020)     (2.08 )     (1.11 )     (1.21 )     (0.45 )     (2.38 )

 

(*) The December 31, 2019 balances were derived from the Company’s audited annual financial statements.

 

(**) The general and administrative expenses include share-based payment expenses of approximately $14,547 in the nine months ended September 30, 2020, and approximately $13,977 in the third quarter of 2020.

 

5

 

 

Consolidated Statements of Changes in Equity (Unaudited)

(In thousands of USD)

 

    Share
capital
    Share premium and capital reserves     Treasury shares     Presentation currency translation reserve     Accumulated loss     Total
equity
 
                                     
For the nine months ended September 30, 2020:                                    
Balance as of January 1, 2020     6,441       65,202       (1,509 )     1,431       (59,963 )     11,602  
Issuance of ordinary shares, net     55,512       (9,743 )     --       --       --       45,769  
Conversion of convertible notes     2,013       (78 )     --       --       --       1,935  
Exercise of warrants and options     2,286       2,867       --       --       --       5,153  
Share-based payments     --       19,287       --       --       --       19,287  
Net loss     --       --       --       --       (31,055 )     (31,055 )
                                                 
Balance as of September 30, 2020     66,252       77,535       (1,509 )     1,431       (91,018 )     52,691  
                                                 
For the three months ended September 30, 2020:                                                
Balance as of July 1, 2020     66,236       61,748       (1,509 )     1,431       (70,302 )     57,604  
Exercise of options     16       (16 )     --       --       --       --  
Share-based payments     --       15,803       --       --       --       15,803  
Net loss     --       --       --       --       (20,716 )     (20,716 )
                                                 
Balance as of September 30, 2020     66,252       77,535       (1,509 )     1,431       (91,018 )     52,691  

 

6

 

 

Non-IFRS measures

 

The following is a reconciliation of EBITDA and adjusted EBITDA to net loss:

 

    For the Nine-Month Period
Ended
September 30,
    For the Three-Month Period
Ended
September 30,
    For the Year ended December 31,  
    2019     2020     2019     2020     2019  
Net loss     6,972       31,055       4,308       20,716       8,353  
Interest income     -       (52 )     -       (52 )     -  
Depreciation and amortization     2,038       1,958       702       667       2,666  
EBITDA     (4,934 )     (29,149 )     (3,606 )     (20,101 )     (5,687 )
Non-cash financial expense (income), net     (6,424 )     3,941       566       876       (8,175 )
Share-based payments     367       16,797       174       15,852       439  
Adjusted EBITDA     (10,991 )     (8,411 )     (2,866 )     (3,373 )     (13,423 )

 

EBITDA

 

EBITDA is a non-IFRS measure and is defined as earnings before interest expense (income), income tax, depreciation and amortization. We believe that EBITDA, as described above, should be considered in evaluating the Company’s operations. EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting interest expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively) and EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to the items mentioned above.

 

Adjusted EBITDA is a non-IFRS measure and is defined as earnings before non-cash financial expense (income), income tax, depreciation and amortization, and share based payments. Non-cash financial expenses (income), net include exchange rate differences, finance expense (income) for revaluation of liability in respect of government grants, finance expense (income) for revaluation of liability in respect of warrants and rights to purchase, as well as changes in lease liability. We believe that Adjusted EBITDA, as described above, should also be considered in evaluating the Company’s operations. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting non-cash financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payment expenses, and Adjusted EBITDA is useful to an investor in evaluating our operating performance because it’s widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to non-cash items, such as expenses related to share based payments.

 

EBITDA and Adjusted EBITDA do not represent cash generated by operating activities in accordance with IFRS and should not be considered alternatives to net income (loss) as indicators of our operating performance or as measures of our liquidity. These measures should be considered in conjunction with net income (loss) as presented in our consolidated statements of profit or loss and other comprehensive income. Other companies may calculate EBITDA and Adjusted EBITDA differently than we do.

 

 

7

 

Exhibit 99.2

 

NASDAQ : NNDM 1 Corporate Presentation I Nasdaq: NNDM I November 2020 I nt el l i gent M achi nes, C onsum abl e C onduct i ve & D i el ect r i c I nk M at eri al s 3 D - PRINTED ELECTRONICS ADDITIVELY MANUFACTURED ELECTRONICS ( AME)

 

 

PR I N T E D EL EC TR O N I C S ( PE) / AD D I TI V E LY M AN U FA C T U R E D EL EC TR O N I C S ( AM E) Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 2 Forward Looking Statements This presentation of Nano Dimension Ltd . (the “Company”) contains “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws . Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward - looking statements . For example, the Company is using forward - looking statements when it discuss the potential of its products, strategic growth plan, its business plan and investment plans, the size of its addressable market, market growth, and expected recurring revenue growth . Forward - looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain . Such expectations, beliefs and projections are expressed in good faith . However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward - looking statements . Forward - looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward - looking statements . For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report for the year ended December 31 , 2019 , filed with the SEC . Forward - looking statements speak only as of the date the statements are made . The Company assumes no obligation to update forward - looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward - looking information except to the extent required by applicable securities laws . If the Company does update one or more forward - looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward - looking statements .

 

 

• Executive Summary • Business Model • Technology • Market • Business in Times of Corona • Strategy & Tactics • Appendix TABL E O F C O N TE N T S Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 3

 

 

NA NO DI ME N S I O N • Additive Manufacturing Electronics (AME) industry leader • More than a dozen granted patents, and more than three dozen patent applications • First - to - Market advantage • The only technology that converts digitally electronics circuits into functional high performance devices • Approx. 60 systems sold worldwide • Increasing recurring revenue of proprietary conductive and dielectric materials (3D - printing inks) • Strong cash - position ($107M as of Oct. 30 2020) Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 4

 

 

TRADITIONAL INTEGRATED CIRCUITS ( IC, Chips, CPU, ASICs) TRADITIONAL PRINTED CIRCUIT BOARDS (PCB) DragonFly LDM & Ink Materials Design  Proof of Concepts  Prototype & Early Fabrication of HiPEDs Ρ (High Performance Electronic Devices) Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 5 AME TECHNOLOGY V IS IO N : B RI DGI N G T HE GA P

 

 

Our DragonFly Œ AME Machines (controlled by AI algorithms) produce electronic devices by simultaneous 3D - injection of dielectric and conductive materials to fabricate, within hours: Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 6 H igh P erformance E lectronic D evices : Hi - PEDs Œ Sensors, Antennas, Capacitators, Convertors for unique geometries and complex devices We develop and produce proprietary consumables chemical inks in our AME machines. All are mission critical and economical for our customers. OUR MI S S I O N

 

 

Stage 0 Stage I Stage II Stage III Stage IV Stage V ○ Stage I Materials Co mm e rc ial - Sp e cs Materials I ndus tr ial - Sp e c s Materials M il - Spec s LPV: Low Production Volume System MPV: Medium Production Volume System ○ Stage II ○ Stage III ○ Stage IV ○ Stage V t oday Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 7 2022 2023 Upside like BioTech, but , contrary to BioTech downside in case of failure at any stage is protected as a sale of the existing business at improving multiples (as per stages I - V below, is a valid and doable financial exit through a sale to strategic buyers) NNDM Today • Approx. 60 Systems Sold • Proven Technology • Razor & Blade • Over 3 dozens patent applications 2021 PIK* MARK II LP V MPV MARK III FAI L SAF E “ BI O TEC H - LI KE ” I NV E S T M E NT MODE L * Performance Improvement Kit

 

 

NA NO DI ME N S I O N OF F E RI N G AM E 3D - PR IN T I N G SYST EM S DRA G O NF LY LDM , DRA G O NF LY P I K NaNo S ℠ – 3 D F A B RI CA T I O N S E RV I CE F O R T HE P RO DUCT I O N O F Hi - PED s T M ○ System ○ Training and Support ○ Leasing Options ○ Co - creation / Design ○ Prototyping ○ Low Volume Production Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 8

 

 

Nano Dimension Customers : • 3 Multi - billion US$ defense manufacturers • 2 European defense companies and multiple secret services • 1 Multi - billion US$ valued technology conglomerate • Multiple leading research institutions around the world NA NO DI ME N S I O N : APP R O X . 60 S YS T EM S G LO B A L LY Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 9

 

 

RE T U R N ON I NV E S T M E N T: P ROT OT Y P I N G D E S I G N E C A D P r o o f o f C o n c e p t ( P o C ) & P R O T O T Y P I N G T E S T I N G T O O L I N G P R O D U C T I O N D E S I G N E C A D P o C & P R O T O - T Y P I N G T E S T I N G T O O L I N G P R O D U C T I O N W E E K S D A Y S ○ Accelerate Product Development and reduce Time - To - Market (TTM) ○ In - House Rapid Prototyping with Nano Dimension AME Systems Nano Dimension AME System Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 10

 

 

RE T U R N ON I NV E S T M E N T: P ROD U CT I O N D E S I G N E C A D P r o o f o f C o n c e p t ( P o C ) & P R O T O T Y P I N G T E S T I N G T O O L I N G P R O D U C T I O N D E S I G N E C A D P o C & P R O T O - T Y P I N G T E S T I N G P R O D U C T I O N M O N T H S Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 11 W E E K S ○ Eliminate need for tooling ○ Consolidate Assembly Steps ○ Low Mix / High Volume Production with Nano Dimension AME System Nano Dimension AME System

 

 

A DDI T I V E MA NUFA CT U R I N G OF 3 D E L E CT RO N I C S H igh P erformance E lectronic D evice s Œ : Hi - PEDs Œ Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 12

 

 

NA NO DI ME N S I O N ’ S 3 D FABR I C ATI O N SER VI C E S : Na No S ℠ • Nano Services (NaNoS ℠ ) is an offering for customers who need to get their hands - on complex, multilayered high - performance electronics with a quick turnaround time. • Provide services to customers around the globe with its fabrication labs in the US, Israel and Hong Kong. • Guaranteed quick turnaround for complex Hi - PEDs Ρ . Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 13

 

 

DRA G O NF LY L DM: A DI GI TA L FA CT OR Y I N A B OX A LL O F TH I S … Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 14 … REPL ACED W I T H T HI S!

 

 

T H E O BJ EC T I S BU I L T U P, L AYE R BY L A Y E R , TH R O U G H FU LL S TA C K T H I CKNE SS: ○ Conductive layers & dielectric layers ○ Drills and vias bottom up printed ○ Soldermask & annotation Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 15 HOW DOE S I T W ORK ? TWO P R IN T H E A D S IN K J E T B O TH M A T ER I AL S S I M U L T AN E O U SL Y: ○ Both conductor & insulator substrates are printed ○ Both materials are activated in real – time on - the - fly ○ 100% fully additive process! Just one manufacturing step: No need for etching, pressing, electroplating ! 110

 

 

C ER TI FI C ATI O N S In - house DragonFly system manufacturing FCC, CE, UL, CSA, EAC In - house nano ink manufacturing – capacity to meet future demand Top quality certified ISO14001 and OHSAS18001 ISO 45001 and RoHS Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 16

 

 

W HY A DDI T I V E MA NUFA C T U RI N G F OR E L E CT R O NI C S ? R APID PR O T O T YP I N G A DV A NCE D P RO DUCT S : H i PED F ABR I C AT I O N DI G I T A L I NV E NT O RY T O MO RRO W Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 17 Benefits: Shorten your Time - to - Market, reduce cost and increase innovation with agile prototyping and fast feedback cycles ○ Reduce development time ○ Reduce prototyping and R&D cost ○ Inhouse, print designs over night ○ Full confidentiality / IP protection ○ Test many designs for more functions ○ Reduce cost of error Benefits: Produce better, lighter, cost - effective products by eliminating assemblies and improving the performance in 3D forms ○ Produce complex 3D circuits and optimize form factor (SiP, Heterogeneous Integration) ○ Reduce assembly steps by printing components ○ Reduce size and weight of products ○ Improve products performance Benefits: The future will allow business models based on part licensing. Eliminate the need of sending physical parts ○ On site per demand production of spare parts ○ No tooling cost ○ Eliminate stock and free up working capital ○ Changing the paradigm of electronics production ○ Reduce environmental waste T O D AY

 

 

Reduce time to market and optimize design for medical devices, biomedical sensors and in - vivo applications. AME optimizes electromechanical parts for: smart products, IoT, sensors, autonomous driving, electric vehicles, 5G networks. Keep your IP in your lab with the DragonFly LDM System and save time by eliminating the need for involving external parties. The DragonFly LDM System enables you to produce cutting edge electronics in your lab. AME Technology enables you to reduce weight and to miniaturize electro - mechanical components like never before. R ESEAR C H Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 18 AER O SPAC E D EF EN SE M E DI CA L AU T O M O T I V E & I NDUS T RI A L OUR CUS T O M E R S A RE I NNOVAT O R S I N L E A DI N G MA RK E T S

 

 

NA NO DI ME N S I O N : C AS E STU D I E S & C O O P E R ATI O N I. Research Institutes: CBN - IIT II. Aerospace: HARRIS III. Defense: HENSOLDT IV. Medical: PIEZOSKIN V. Automotive: REHAU Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 19

 

 

The suitability of the DragonFly system to rapidly and affordably manufacture functional prototypes, combined with the broad ecosystem of applications for health and energy harvesting, makes it an ideal choice for our team to achieve higher performance, quick development and print complex shapes not achievable using traditional manufacturing processes. Prof. Massimo De Vittorio CBN - IIT — Lecce — Italy CUS T OM E R CA S E I : C BN - II T, I TA LY Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 20

 

 

The ability to manu - facture RF systems in - house offers an exciting new means for rapid and affordable prototyping and volume manufacturing. The results of the study provide substantial motivation to develop this technology further. Dr. Arthur Paolella, Senior Scientist, Space and Intelligence Systems, Harris Corporation COOP E R AT I O N CA S E I I : HA R RI S , US A Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 21

 

 

HENSOLDT and Nano Dimension Achieve Breakthrough in Electronics 3D Printing HENSOLDT succeeded in assembling the worlds first 3D printed 10 - layer printed circuit board (PCB) which carries high - performance electronic structures soldered to both outer sides. This allows rapid prototyping inhouse of complex PCB. CUS T OM E R CA S E I I I : HE N S OL D T, GE RM A N Y Military sensor solutions require performance and reliability levels far above those of commercial components. To have high - density components quickly available with reduced effort by means of 3D printing gives us a competitive edge in the development process of such high - end electronic systems. Thomas Müller, CEO of HENSOLDT ” Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 22

 

 

CUS T OM E R CA S E I V: PI EZO S K I N , I TALY Nano Dimension’s AME technology helped us to achieve an original product prototype, in which wires and connectors were eliminated and the package was minimized, to obtain an optimal user experience. It simplified the manufacturing process, as compared to traditional manufacturing methods. Dr. Francesco Guido, CTO Piezoskin S.R.L Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 23

 

 

CUS T OM E R CA S E V: RE H A U, GE RMA N Y With the DragonFly LDM we will drive forward REHAU’s “Electronics into Polymers” strategy to speed up in - house electronics development and find new installation spaces and functions for our products. Dr. Philipp Luchscheider, REHAU Engineer behind the 3D touch sensor design Smartification is no longer just a vision for us. REHAU is developing improved products for the smart home and IoT environment, and Nano Dimension is providing important technology to help accelerate the availability of promising new applications. Dr. Ansgar Niehoff, Head of Technology Platform “Electronics into Polymers” at REHAU Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 24

 

 

P R I NT ED C A PACI T O R S ○ High Accuracy Capacitors Integrated in the board ○ 50 layers RA P I D P RO T O T Y P I N G I NHO U S E ○ Months > days ○ Dozens of layers, both sides populated R F A M P LIFI E R FO R ○ Light weight ○ Integrated design ○ < 1db gain difference S P A C E I N N O VAT I VE M E M S P A CKAG I N G ○ Embed piezoelectric transducers ○ Compact, lightweight and robust package DRA G O NF LY L DM “Lights Out” Digital Manufacturing NE W MA NUFA CT U RI N G P OS S I B I L I T I E S W I T H T HE DRA GO N F LY L DM H igh - P erformance E lectronic D evice s Œ : Hi - PEDs Œ Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 25

 

 

NASDAQ: NNDM I www.nano - di.co m | © 2020 Nano Dimension. All rights reserved. 26 LOW PASS FILTER 3D MID COILS & INDUCTORS RF ANTENNAS AME CIRCUIT WITH SIDE MOUNTED AND INSERTED COMPONENTS AME CIRCUIT WITH INTEGRATED FUNCTIONAL CAPACITORS VERTICALLY STACKED INTEGRATED CIRCUITS IOT/WIFI ACCESS POINT C O M PL EX M ULT I LA Y E R PC B ( 50 L AYER S) Hi - PEDs Œ AME Circuit with Capacitors Low Pass Filter IOT Access Point Coils & Inductors Vertically Stacked Integrated Circuits RF Antenna » Fast prototyping, hours vs weeks » Tens of layers in a 3mm board » Printed embedded components » Expand 3D scales HI G H AME with Side Mounted Components P E RF O RM A NCE E LE CT RO NI C D EVIC ES 3D MID » Filled Vias: No need for drilling P ROD U C E COMP L E X P CB A ND Hi - PE D S Œ

 

 

3D Printed Electronics Components (Capacitor, Inductor, Transformer, Antenna) Non Planar Shape and 3D Structural Elements (Cavities, Special Shapes) RF&MW Embedded Components Converter and Chargers (DC, AC) High Layer Count Circuits > 50 Multi Stacking ICs, Packages, Side Mount & Contacts, Free Form of Vias Electronics integration (MEMS, Sensors, Transistors, ICs, Opto, Piezo, Chem - Electro, Magnetics, Motion) Real 3D Embedded Electronics for Heterogenous Integration AME Hi - PEDs Ρ Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 27 beyond traditional manufacturing A DDI T I V E MA NUFA CT U R I N G OF 3 D E L E C T R ONI CS

 

 

NASDAQ NNDM ADS ratio: 1:1 Shares Outstanding: ~ 71,200,000* * As of October 30 th , 2020 ~ $80M invested mostly in R&D, over 6 years • Cash: $107M / No debt * • Revenue growth of ~39% in 2019 compared to previous year • Significant trend of Gross Margin improvements NA NO DI ME N S I O N : FI N AN C I AL D ATA Since 01 - 01 - 2018: # of 3D Printing machines sold : • DragonFly Pro : • DragonFly LDM machines (since Q3/2019) • DragonFly Pro upgrades to LDM (since Q3/2019) • DragonFly service contracts 49 11 29 34 Total Revenues ( from 01 - 01 - 2018 to 09 - 30 - 2020 ): $13 . 598 M Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 28

 

 

Razor - Razorblade Model: • As the installed base of systems grows, the recurring revenues from consumables increases. • Positive trend of increased ink consumption by customers is a validation to our recurring - revenue business model. • Printed Electronics (“PE” or “AME”) and Consumable Materials: Recurring & High GM Revenue CONSUMABLE REVENUE GROWTH 2018/1Q 2018/2Q 2018/3Q 2018/4Q 2019/1Q 2019/2Q 2019/3Q 2019/4Q 2020/1Q Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 29 BU SI N E S S M O D EL : RE C U R RI N G RE V E N U E MODE L T H AT S CA L E S

 

 

NA NO DI ME NS I O N ’ S 3 D F ABR I C A TI ON SER VI C E S: Na No S ℠ • Nano Services (NaNoS ℠ ) is an offering for customers who need to get their hands - on complex, multilayered high - performance electronics with a quick turnaround time. • Provide services to customers around the globe with its fabrication labs in the US, Israel and Hong Kong. • Guaranteed quick turnaround for complex Hi - PEDs Ρ . Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 30

 

 

I ndustr i a l : Early Product 2018 - 2019 DragonFly Œ Pro Early Adopters: Fast Prototyping & Low Volume Production Q3 2019 First Prototype 2013 - 17 DragonFly Œ LDM DragonFly Materials & Process Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 31 Functional Unique Electronics “The Secret Sauce” Competitive Edge & Barriers to Entry The Hardware is an Enabling Platform • 24/7 Print in a Compact System • Integrated AI Software NA NO DI ME N S I O N E V OL UT I O N

 

 

W HY A DDI T I V E MA NUFA C T U RI N G F OR E L E CT R O NI C S ? Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 32 I NCRE A S E design possibilities P R OT E CT IP AC C EL ER A T E time to market IM P R OV E effi c i ency Approx . 60 3D - Printing DragonFly Machines were sold to leading blue - chip defense, research commercial & government organizations

 

 

Stage 0 Stage I Stage II Stage III Stage IV Stage V ○ Stage I Materials Co mm e rc ial - Sp e cs Materials I ndus tr ial - Sp e c s Materials M il - Spec s LPV: Low Production Volume System MPV: Medium Production Volume System ○ Stage II ○ Stage III ○ Stage IV ○ Stage V t oday Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 33 2022 2023 Since Covid - 19’s eruption – it is not about quarterly Revenue curve . We are focused on upside through accelerating Product Technological Edges (Upside like Biotech). BUT we have sold approx. 60 machines already. Contrary to Biotech downsides , a failure at any Stage is protected (as a sale of the existing business at improving multiples, as per stage, is a viable alternative) NNDM Today • Approx. 60 Systems Sold • Proven Technology • Razor & Blade • Over 30 Patent Applications 2021 PIK MARK II LP V MPV MARK III FAI L SAF E “ BI O TEC H - LI KE ” I NV E S T M E NT MODE L *Performance Improvement Kit

 

 

0 500 1000 1500 2000 2500 3000 3500 4000 $M 4500 3D PRINTED ELECTRONICS MARKET 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 IDTECHEX 2019 DataM Intelligence, 2018 Transparency Research 2018 Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 34 IDTechEX (2019) • The total market for 3D printed electronics will be worth $2.3bn by 2029 and will be dominated by the professional PCB prototyping market segment. The educational and industrial production market segments will continue to grow steadily. • The market for professional PCB prototyping is currently growing very rapidly, almost entirely due to market leader Nano Dimension, and has already overtaken the consumer and education. This growth will slow but this market segment will become the largest by 2020. DataM Intelligence (2018) • Analysts predict 3D printed electronics will be the next high - growth application for product innovation: 2017 3D printed electronics market size is estimated at $176 million, expected to reach $592 million in 2021 and up to $2.4 billion by 2025. Transparency Market Research (2018) • The global 3D printed electronics market was valued at US$ 137.1Mn in 2017 and is expected to expand at a CAGR of 44.46% from 2018 to 2026, reaching US$ 3,915.0 Mn by the end of the forecast period. AM E / 3 D P RI NT E D E L E CT R O N I C S MA RK E T

 

 

Emerging Technologies • Communication 5G/RF • Heterogeneous Integrations • Aerospace (i.e. micro - satelites) • Defense • Medical (i.e. in - vivo devices) • Automotive Revolution (electrical, autonomous) Hi - PEDs Œ Necessitate • Fast time - to - market • IP safety  in - house rapid prototyping and production • Interactive development • Device performance gains • Control of fabrication facilities  Defense & Homeland Security Hi - PEDs Œ (High - Mix - Low - Volume) are produced at high quantitates that are constructed from high mix of designs and low volume per variety. This necessitates prototyping and low cost of production for low volumes. NA NO DI ME N S I O N : R E VEN U E D R I VER S Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 35

 

 

• Yoav Stern – President & CEO (Joined 01 / 2020 ) – Investor and Chairman Cyber, Fintech and Mobile/Visual Tech (USA) . President & CEO DVTEL Inc . (Sold to FLIR Systems ) ( NJ, London, Tel Aviv, New Delhi, Adelaide, Singapore, Hong Kong, Taiwan ) . A turn - around executive in the Homeland Security Industry . Co - Chairman Bogen Corporation ( New Jersey, Memphis, Florida, Germany ), one of its main investors and a member of its Executive Committee, Audit Committee and Compensation Committee . Managing Partner Helix Capital LLC, ( San Francisco, New York ), private M&A and Turn - Around Advisory Firm . Executive Chairman of the Board Kellstrom Industries Inc . (Florida), A $ 300 M aerospace corporation . President of WordStar I nterna tional, Inc . ( San Francisco ), a $ 50 M publicly traded software company . Mr . Stern led the company’s turnaround process and structured the business combination of WordStar with two other public companies, similar sizes . He was VP M&A & Business Development Elron Electronic ( Nasdaq : ELRNF ) a multinational industrial investment holding company with annual revenues in excess of $ 1 . 5 billion . Elron invested in companies active in the fields of Advanced defense electronics ; Data communications ; Internet - software products ; Semiconductors equipment ; Telecommunications . Mr . Stern is a Graduate of NYU, B . Sc . Degree, Magna Cum Laude in Mathematics and Computer Science , Engineering Diploma in Mechanics & Automation Magna Cum Laude . Graduate of the Air Force Academy . Air Force Service : Lt . Colonel (Ret . ), Fighter Pilot, D . Squadron Commander, F - 15 . • Ziki Peled – COO, CRO (Joined 05 / 2020 ) – Seasoned turn around executive from FLIR Systems, Inc . (Nasdaq : FLIR), which develops, manufactures, markets, and distributes thermal imaging systems, visible - light imaging systems, locator systems, measurement and diagnostic systems, and advanced threat detection systems . With annual turnover of $ 1 . 8 billion & a market cap of $ 7 billion . He was the CEO of Apollo Network Services Ltd . where he managed large projects in the field of Defense, Energy and Transportation for Finmeccanica, Multi - billion - euros Corporation, and one of the largest European organizations of its kind . Prior, CEO of as in Flash Networks Ltd . he led development and commercialization of NettGain Œ Mobile Data Access Gateway . Peled was the CEO of Bogen Communication Int’l, NJ, USA in Ramsey, New Jersey, and Munich, Germany, which develops, manufactures, and markets telecommunication peripherals, sound processing equipment . Earlier, he was GM of Elbit Computers Ltd . Telecommunication Division, comprising various activities including CTV plant, Data Communication activity through the daughter company Fibronics and Telephony over Cable TV project in China . Earlier in Elbit he has led the merger of the R&D division and the Production division with over 1 , 000 people with a development budget of $ 30 million and production of over $ 100 million/year . Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 36 NA NO DI ME N S I O N : NE W CORP O R AT E A ND US MA NA G E M E NT

 

 

• Dr . Jaim Nulman – EVP Products & CTO (Joined 2018 ) – VP of Applied Materials , where he commercialized the Endura PVD system , the most successful semiconductor manufacturing product reaching market share from 0 to over 60 % and a $ 1 B in revenue in less than 5 years, with one of the highest gross margins in the company . While at Applied he also represented the company on the board of directors of some of the companies in which Applied invested as well as developed product commercialization methods that reduce the cost and time to market . Dr . Nulman served as research associate at the Submicron center at Cornell University where he pioneered rapid thermal processes for the semiconductor industry . He was an invited Lecturer at NATO Advanced Studies Institute and the University of Berkeley Extension . Dr . Nulman has published over 100 publications , and over 50 patents . He is an MSc and PhD from Cornell University all in electrical engineering, and an Executive MBA from Stanford University . Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 37 • Dr . Joseph Kaplun VP R&D & CTO Materials (Joined 10 / 2020 ) – Dr . Kaplun has spent 25 years with the IAI as the CTO, co - founder and Acting General Manager of Gal - El, unique GaAs, GaN, InP and MEMS devices and MMICs FAB . It is a partnership between the ELTA/IAI and the Weapon Development Authority (RAFAEL) in Israel . In the Technology Development Center of The Silicon FAB in USSR, Dr . Kaplun was the Head of Ion Processes Department . Dr . Kaplun earned his Ph . D . from NPO “Center of Sciences” in Moscow and B . Sc . & M . Sc . in Material Science in Microelectronics from the Moscow Institute of Electronic Technique , Zelenograd, Material Science Department . His publications include books about High Vacuum Technology, and Statistical Process Control as well as articles on BCB etching Process using High Density Plasma, Critical dimension improvement of plasma enhanced chemical vapor deposition silicon nitride thin films in GaAs devices, High Power Ka – Band PIN Diode Technology, Investigation of Contact Metal Stacks for Submicron GaN HEMT, Origin and elimination method of parasitic gate leakage current for AlGaN/GaN hetero - structure field effect transistor, Re - configurable MMIC : on - wafer fine tuning capabilities and Stepper - based integrated process on wafer pieces . NA NO DI ME N S I O N : NE W CORP O R AT E A ND US MA NA G E M E NT

 

 

All present customers were out - of - office until July 2020. Some until now. (Mostly USA) • Chinese companies returned on 5/2020 but still delaying all purchases of Capital Equipment. • European business in June - July but delayed most CapEx deployments. • USA corporations projected June as “back - to - business” but changed to July, and then changed to “maybe later or early 2021” • Most customers (especially in USA) are in discussions, but no suppliers’ visits for maintenance until further notice. Hence: No installations are possible. • And: Many DragonFly labs were shut down until Corona subsides, with no confirmed date. • Europe experiencing the second wave 10/2020. Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 38 CO RO NA I S A F F E CT I NG B US I NE S S E S W O RKI NG ASSUM PT I O N : A T L EAST UNT I L I N 20 20 Q 3 / 2021 TH ER E I S AN EL EP H A N T I N TH E R O O M

 

 

P L AN F O R 20 21 : RI DI NG T HE E L E P HA NT • Started a Prototyping/Fabrication Services Business: NaNoS (Nano Services) • Expand NaNoS as revenue generator , but mainly as a route for DragonFly purchases once CapEx are released post Corona • M&A search directed at targets that will enable to leverage NaNoS • INVEST HEAVILY to preempt seeds of competition: Product & technology leapfrog toward production machines (DragonFly PIK & NextGen) • Minimal investments in sales & marketing (other then NaNoS) until COVID - 19 is over!!! • There is no reason to drill in a dry field. The rich grounds is expected to reopen in 2 - 4 quarters . • CONSERVE CASH>> ACCELRATE TECHNOLOGICAL EDGE to create “Industry 4.0” Tectonic Shift. P R ES EN T I N VE ST M E N T TH ESI S I S N EW Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 39

 

 

Stage III Next - Gen Machine (“ NG ”) with new materials which fit mil - specs: Multiple Inks; Support Material Stage IV New Machine, production - runs capability and throughput for such Stage V Large Chuck, highest throughput and lose - loop real - time quality inspection and assurance modular - configurable machine PL AN FOR 20 21 - 22 : RI DI NG T HE E L E P HA NT “Fail - safe - BioTech Investment Model” – Stages I>>II>>III>>IV>>V Since Covid - 19 eruption – it is not about quarterly Revenue curve .We are focused on upside through accelerating Product Technological Edge (Upside like Biotech) BUT we have sold approx. 60 machines already. Contrary to Biotech downsides, a failure at any Stage is protected (as a sale of the existing business at improving multiples, as per stage, is a viable alternative) - For all HiPED Œ printed by DragonFly 3D Electronic 3D - Printing Machines: Stage I DragonFly PIK – (Performance Improvement Kit) Stage II DragonFly MARK (Manufacturing And Reliability Kit) with new materials that reach specifications of “ Industrial” standard (environmental tolerance: temperature, vibrations etc.). Repeatability and reliability of printing process – at “industrial level” Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 40 P R ES EN T I N VE ST M E N T TH ESI S I S N EW

 

 

Prototypes are often created by sending digital designs (typically from the US or Europe to China) and waiting 7 to 21 days to receive a PCB back. This is slow, costly and puts core intellectual property at risk. Designs PCBs TR AD I TI O N A L PC Bs : P ROT OT Y P I N G Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 41

 

 

P OS T CORO N A W ORL D: MOV I NG S UP P LY CHA I N ‘ I N HOUS E ’ Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 42 “ Even as China comes back online, we are beginning to wonder if Covid - 19 will impact other supply - oriented geographies… …While China is improving, the supply chain for the electronics industry may yet see substantial disruptions …. …Mass assembly is only one part of Apple’s supply chain . The company and its many partners spend months years sourcing individual components that are or assembled into final products. Any disruptions in this complex network could slow the introduction of future devices .” (Bloomberg) 1 Sources: 1) Gurman, Mark, and Debbu Wu. “Https://Www.bloomberg.com/Amp/News/Articles/2020 - 03 - 19/Apple - s - Supply - Chain - Woes - Linger - Even - as - China - Recovers .” Bloomberg.com, Bloomberg, 19 Mar. 2020, www.bloomberg.com/amp/news/articles/2020 - 03 - 19/apple - s - supply - chain - woes - linger - even - as - china - recovers

 

 

• " The global supply chain right now is disrupted; we are seeing disruptions across the board... the high - tech industry is heavily reliant on China and parts of Asia." (Bloomberg)² • “ ...heat from the Trump administration’s 25% tariffs on many machinery parts from China, as well as rising political tide in America to bring industrial production of things such as electronic circuit boards closer to home …. Now with the coronavirus, he said, “there will be changes.” (LA Times) 3 • A recent BofA survey …wide…remapping of supply chains. 3,000 firms…in 10 out of 12 global industries, including semiconductors, autos and medical equipment … shift, at least part of their supply chains from current locations …. • Masterwork contracts with about 100 factories in China. Before the virus outbreak, the company could place an order and have it confirmed in two to four days. Last month …it was taking two to three weeks — couldn’t say when the products would be shipped . • “…industries will probably accelerate moves to localize supply chains , so they’re more closely tied to final markets as opposed to extending them farther out.”(LA Times) 3 Sources: 2) Chang, Emily. “Supply Chain Expert on Coronavirus Impact.” Bloomberg, 17 Mar. 2020, www.bloomberg.com/news/videos/2020 - 03 - 17/supply - chain - expert - on - coronavirus - impact - video . Accessed 25 Mar. 2020. 3) Lee, Don. “As Coronavirus Cripples Global Supply Lines, More U.S. Firms Looking to Leave China.” Los Angeles Times, Los Angeles Times, 4 Mar. 2020, www.latimes.com/politics/story/2020 - 03 - 04/spreading - coronavirus - tears - apart - global - supply - chains . Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 43 P OS T CORO N A W ORL D: MOV I NG S UP P LY CHA I N ‘ I N HOUS E ’

 

 

OCTOBER 12th, 2020: The American Dream: Bringing Factories Back to the U.S. (1) A report from the McKinsey Global Institute found “180 products across value chains for which one country accounts for 70% or more of exports, creating the potential for bottlenecks.” Worse, many of those products come from an increasingly hostile Chi na, a circumstance with profound national - security implications for the U.S. and other democracies. • Investors stand to benefit if reshoring means a longer - term revival in innovation and flexibility in production. And higher operating costs could be offset by higher revenues, whether that’s through higher wages leading to greater consumer demand, government support, or some combination. • Both presidential candidates want to bring manufacturing back, but their strategies differ. Democrat Joe Biden has unveiled a plan to boost federal spending on U.S. - made goods, support research and development, change the tax code to discourage offshoring, and close loopholes in rules that already require Uncle Sam to “Buy American.” • While Silicon Valley is now known for software, it originally prospered as a manufacturing center that supported fundamental scientific research in physics, electronics, and materials science. Many of the world’s leading electronics hardware companie s are still headquartered in Silicon Valley, but most don’t manufacture anything there. • Bringing manufacturing back to America isn’t impossible by any means — especially in capital - intensive sectors such as electronics ….It may even benefit investors… • “What’s missing is the capability to pivot” to sudden changes in demand.”(2) Sources: 1) Matthew C. Klein, Barrons, Updated October 12, 2020 / Original October 9, 2020, https://www.barrons.com/articles/the - american - dream - reshoring - manufacturing - 51602270001 2) Erica Fuchs, professor of engineering and public policy at Carnegie Mellon, https://waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/documents/Erica%20Fuchs%20Testimony . pdf Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 44 P OS T CORO N A W ORL D: MOV I NG S UP P LY CHA I N ‘ I N HOUS E ’

 

 

NA NO DI ME N S I O N : L EAD I N G TH E AM E R EV O L U TI O N Market Growth – Additive Manufacturing This chart provides revenues (in millions of dollars) for AM products and services worldwide. The lower (blue) segment of the bars represents products, while the upper (gray) segment represents services. Neither category includes secondary parts or processes, such as molded parts and castings. Source: Wohlers Associates Additive Manufacturing (Metal & Polymers) $4, 0 00 $2, 0 00 $0 Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 45 $6,000 24% CAGR $1 2 ,000 $1 0 ,000 $8, 0 00 18 20 22 24 26 28 30 32 34 36 Additive Manufacturing of Electronics (AME) Market Growth – Additive Manufacturing of Electronics This chart provides revenues (in millions of dollars) for AME products and services worldwide. The projection is derived form various market studies projection is based on a CAGR of 24% 24% CAGR

 

 

Growth company with significant technology and first mover advantage. • Approx. 60 3D - Printing DragonFly Machines with leading defense & research organizations and Increasing recurring revenue of proprietary inks • Shortening prototyping time while creating multi - layer Hi - PEDs Œ in house. • R&D of unique solutions, miniaturized, lower weight which can be fabricated in high mix/low volume almost only by 3D - printing. New Investment Thesis: Biotech investment model – with hedged downsides • Since Covid - 19 eruption – it is not about quarterly revenue curve . • Focused on accelerating product technological edge (upside like Biotech). Contrary to Biotech downsides, a failure at any stage is protected (as a sale of the existing business at improving multiples, as per stage, is a viable alternative) New NaNoS ℠ = Prototyping Services Business Model (fabrication labs on three continents). Expected to reach inflection point upon conversion from prototyping to short production runs. Strong cash - position , enough to advance the business plan towards commercial success, at minimal risk. K E Y HI GHL I GHT S : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 46

 

 

NASDAQ : NNDM 47 Appendix Additive Manufacturing for Electronics

 

 

Pre - PCB electronic circuit with rat's nest wiring. Before the 1950s, electronic circuits were assembled using individual wires to connect each of the components (Pic 1). The components were then mounted on what were known as tag strips and sockets. The first circuit boards were made by laminating an insulating material around 1.6mm thick with copper foil . Holes were drilled for the components and the component leads were soldered onto the copper foil, using the copper to create an electrical connection between the components. Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 48 Dr. Paul Eisle r, an Austrian scientist working in England, is credited with inventing the first single - sided PCB. Based on Eisler's early work, single - sided boards were commercialized during the 1950s and 1960s, primarily in the United States. Early PCB TR AD I TI ON AL PC Bs : H I S TO RY

 

 

The vast majority of electronic circuits are now made using Printed Circuit Boards (PCBs) . These are copper - clad fiberglass or epoxy boards that have the copper selectively etched away to leave conductive traces . Components can be mounted through drilled holes (left) or on the surfaces of the boards (right) . Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 49 Through - Hole Electronics Surface Mount Electronics TR AD I TI ON AL PC Bs : MO UNT I NG CO MP O NE NT S

 

 

Around 90% of all PCBs are manufactured in the APAC region. China are the largest producer with around 43% market share followed by Japan and South Korea with 15% and 13%, respectively. Intellectual Property (IP) is cited as a major cause for concern. Hardware design companies regard their PCB designs as core IP and some are reluctant to send them to Asia for prototyping. • • China • V i e tnam • South Korea Tai w an 1 % 1 % 1 % 2 % 2 % 5 % 13 % 13% 15 % 43 % Singapore Philippines Vi e t nam Germany Thailand U SA T a iw an South Korea Ch i na Japan TR AD I TI ON AL PC Bs : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 50 G E O G RA P H Y

 

 

Double PCB Layer Multilayer PCB • Single - sided PCBs are very limiting in terms of connection topology . With single - sided PCBs, most circuits require the ability to join two conductive tracks using a wire . • Double - sided PCBs alleviate this problem by allowing connections through holes from one side of the PCB to another . • Multi - layer boards take this further by providing up to 52 layers with connections between arbitrary layers . Such a large number of layers clearly represents a shift towards 3 D printed electronics . NA NO DI ME NS I O N: PC B Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 51 VS AM E

 

 

37 % 13 % 2 % 12 % 15 % World PCB production by type 5% 16% Single sided 2 - 6 layers 8 - 16 layers 18+ layers Microvia Substrate Flex & R - Flex Many PCB designs, particularly analog or high - frequency digital circuits, employ a ground plane. This is a large area of copper foil that provides a low resistance connection to a reliable ground voltage and some protection from EM interference. Consequently, PCB designs often employ more than one layer. Source: TTMTechnologies According to TTM Technologies, the most common PCB type is 2 - 6 layers with 37% share of the total market. Therefore, multilayer boards will be the largest addressable market for PCB rapid prototyping technologies such as 3D printed electronics. TR AD I TI ON AL PC Bs : L A YER S Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 52

 

 

Traditional PCBs are a mature technology, and their limitations are well understood. High - end multilayer PCB manufacture is tricky and expensive, and prototypes are usually made externally and often off - shore. Traditional PCBs are both rigid and flat. This imposes constraints on design that usually result in a traditional PCB being encapsulated in a housing typically made by injection molding thermoplastic Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 53 TR AD I TI ON AL PC Bs : L A YER S

 

 

Rigid PCBs can be connected together using flexible interconnects to offer a bit more design freedom but the physical limitations are obvious, particularly in the light of massive emerging markets like wearable technologies. The physical strength of fiberglass board makes it possible to use a traditional PCB as a mechanical component in a device as well as an electrical one. This is a crude form of structural electronics. The CrazyFlie quadcopter shown above uses its traditional PCB as a chassis providing all of the power and control electronics as well as electrical and mechanical connections to each of the four motors. TR AD I TI ON AL PC Bs : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 54 ME CHA NI C S

 

 

Components such as power semiconductors can generate a lot of heat thatmust be dissipated in order to keep the device running within temperature tolerances. Temperature is responsible for 55% of all electronic circuit failures. Specifically, the failure rate of an electronic device doubles with every 10 ƒ C increase in chip junction temperature † . The ability to transfer and dissipate heat generated at the chip level directly dictates the system's reliability. Heat dissipation is traditionally accomplished by using a thermal interface material to join the power semiconductor component to a heat sink, often on the opposite side to the PCB. In some cases, vias are used to help conduct heat through the PCB. Fiberglass and epoxy are the standard substrates used in PCBs. These materials are thermal insulators and, therefore, do not help to conduct heat away from components. Ceramic fillers such as Beryllium Oxide (BeO) are used to improve thermal conductivity whilst retaining electrical insulation but the poor thermal conductivity of most PCBs is still a significant issue. Heat management is one area where alternative technologies may be able to improve upon the traditional PCB. TR AD I TI ON AL PC Bs : H E AT Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 55

 

 

Strengths Weaknesses • Established technology : ~ $ 60 bn industry . • Physically strong . • High electrical conductivity (σ = 5 . 96 î 10 7 S/m) from solid copper traces typically 36 μm deep facilitates analog and high - frequency digital circuits . • Can withstand temperature extremes, humidity, mechanical shock and vibration, atmospheric variations, harmful chemicals, and electromagnetic radiation. • Ground plates are cheap. • Multilayer boards are commonplace. • Either expensive to prototype locally or slow to prototype remotely (7 to 21 day turnaround from China). • Cost single unit cost due to minimum batch size: ~$50 for a 6”x5” multilayer board. • Poor thermal conductivity of the fiberglass or epoxy substrate creates heat management problems. • Etching uses hazardous chemicals that are very bad for the environment to the extent that the world’s largest PCB manufacturer, China, have outlawed etching in coastal regions. Opportunities Threats • Some potential to include components like supercapacitors inside the PCB. • Flexible circuit boards. • Printed conductive inks and pastes. • 3D printed electronics . Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 56 TR AD I TI ON AL PC Bs : SW OT AN AL YSI S

 

 

NASDAQ : NNDM 57 3 D - Printed Hi - PEDs Œ Nano Dimension® Confidential and Proprietary

 

 

NASDAQ: NNDM I www.nano - di.co m | © 2020 Nano Dimension. All rights reserved. 58 Example of Hi - PEDs Ρ : • LOW PASS FILTER (LPF) • VERTICALLY STACKED INTEGRATED CIRCUITS (ICS) • RF ANTENNAS & AMPLIFIERS UP TO 6GHZ • FUNCTIONAL CAPACITORS BY ADDITIVE MANUFACTURING • IN PCB PLANAR DC - DC UP CONVERTER TRANSFORMER • SIDE MOUNT/CONTACT AND INSERTED COMPONENTS • BUILT IN POWER TRANSFORMERS NA NO DI ME NS I O N: 3 D - P RI NT E D Hi - PED s Œ

 

 

Printed LP X - ray of Printed LP LPF uses AME capacitors fabricated simultaneously inside the AME board together with strip lines. The AME capacitor and the strip line can be placed on any layer or on different layers in the AME board A ME - 30dB Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 59 With Commercial Capacitors LPF with AME Capacitors filters the signal at least up to 20GHz. (less than - 30db) LPF with Commercial Capacitors stops filtering at 6GHz EXAM PL E OF H i - PED s Œ : L OW P ASS FI L TER ( L PF)

 

 

Stacked ICs have a higher circuitry density than traditional PCBs by allowing ICs to be mounted and interconnected on top of each other. EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 60 VER TI C AL L Y S T AC KE D I N TEGR A TED CI RCUI T S ( I CS )

 

 

NANO DIMENSION CAN DO IT Our capability to print UHF & SHF RF signal transmission line and antennas. RF antennas & amplifier applications with up to 6GHz frequency. EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 61 R F AN TEN N A S & AM PL I FI ER S U P T O 6 G HZ

 

 

• Produced simultaneously during the additive manufacturing of PCBs • Reduce the total size of the PCB • Freeing surface area for mounting other PCB components De s ign Actual EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 62 F UNCT I O NA L CA P A CI T O R S B Y A DDI T I V E MA NUF A CT URI NG

 

 

• The most common DC - DC Up Converters are units mounted on a PCB • By producing the device as an integrated part of the PCB, surface area usage, assembly time, and other overhead costs are reduced. EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 63 I N PC B PL AN AR D C - DC UP CO NV E R T E R T RA NS F O RME R

 

 

• Enables the use of an area not common for PCB components • Enables the creation of customized small PCBs that can be inserted into a socket a) b) Figure 1 X - ray view of a) inserted, and b) side mounted components soldered to vertical contacts manufactured as part of the PCB additive manufacturing technology in the DragonFly LDM TM EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 64 S I DE MO UNT / CO N T A CT A ND I NS E R T E D CO MP O NE NT S

 

 

AC - AC Up Converter (x10) In Board Power DC – DC Up Voltage Converter AC - AC Transformer with ferrite core EXAM PL E Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 65 OF H i - PED s Œ : B UI L T I N P O W E R T RA NS F O RME R S

 

 

NASDAQ : NNDM 66 www.nano - di.com | © 2020 Nano Dimension. All rights reserved. Nano Dimension® Copyright © 2020 Nano Dimension Ltd. Nano Dimension, DragonFly, AgCite and the DragonFly logo are trademarks of Nano Dimension. Printed November 2020 DragonFly Ρ THANK YOU NASDAQ: NNDM Follow us: @nanodimensiontech @ 3Dp cb www.nano - di.com