Investor Roadmap

1. Phase 1
   Pilot Bays

   First certified shops file CPO and triage reports; founding shop seats open.

   Gate: 25 shops filing monthly
2. Phase 2
   Ledger Live

   Pack-swap ledger and battery passport records flow from every filed job.

   Gate: 1,000 ledgered packs
3. Phase 3
   Core Exchange

   Parts and core deposits settle through the network; second-life packs reach energy storage.

   Gate: Positive core margin
4. Phase 4
   Regional Hubs

   Mobile units, Lifeline dispatch and Equitable Mobility grants run per region.

   Gate: 3 self-funding regions
5. Phase 5
   National Grid

   Insurer, fleet and EU passport integrations open to partners.

   Gate: First certified bays live

Forward-looking milestones, not an offer to sell securities.