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• Rezolve AI went public in August 2024, completing the DESPAC process and trading on NASDAQ. • Secured strategic partnerships with Microsoft and Google, making Rezolve AI-powered solutions available on their cloud platforms, reaching ~90% of enterprise retail customers. • Announced collaboration with Tether for a crypto payment solution. • In 2024, revenue was $188,000 from ancillary activities, with non-operating expenses totaling $28.9 million. • Strengthened balance sheet by converting convertible debt, with remaining debt as bank loans and convertible notes. • Expect to achieve $100 million ARR by end 2025, with cost growth elastic and aiming for break-even at $90 million ARR. • Acquired GroupBy, enhancing sales force, customer footprint, and commercial relationships. • Early 2025 momentum includes enterprise customer adoption, sales pipeline growth, and over $50 billion GMV transacted through platform.

• Expect to achieve $100 million estimated annual recurring revenue by end of 2025, including organic and acquired revenue. • Cost growth is elastic and aligns with revenue as the organization scales, particularly in sales and marketing. • Now expect break-even operating performance at $90 million ARR, an improvement from prior estimate of $100 million ARR as resources are aligned with revenue growth.

No detailed segment performance by product segments with absolute revenue and contribution % provided in the transcript.

No specific risks discussed in detail in the transcript.

Q: Can you provide additional detail as to how the Liverpool deal came about and to what extent GroupBy and Google played a role in that process? And can you elaborate on any terms of the deal?

A: The Liverpool deal is emblematic of the go-to-market strategy. Liverpool was a previous GroupBy customer and was upsold to Rezolve's Brain Commerce product solution, which includes an SEO studio developed in collaboration with Google. The multi-year deal is nearly $10 million annually. The deal is live today with the SEO Studio.

Q: Can you elaborate on the progress you are seeing in the sales pipeline and how each of your go-to-market strategies, including your partnerships with Microsoft and Google, are contributing to that process? And secondly, where are you seeing the most traction?

A: Traction is across direct sales, partnerships, and acquisitions. Partnerships with Microsoft and Google are driving growth in potential enterprise customers and larger average account sizes. The Liverpool deal is an example of a larger-than-expected account. The acquisition of GroupBy provides access to an established customer base for upselling.

Q: Can you provide additional detail as to how Microsoft and Google are marketing Rezolve to potential enterprise customers and driving client wins? And what is that sales cycle look like?

A: Microsoft and Google offer incentives to customers to use committed funds to buy Rezolve, reducing their commitment to the cloud provider. They incentivize their sales organizations by counting Rezolve sales towards their quotas. Sales cycle varies per customer, from months to weeks.

Q: Can you walk us through your target criteria when evaluating M&A opportunities? And secondly, can you discuss your approach when funding M&A transactions in terms of cash versus equity?

A: Targets must fit the model, be additive to the proposition, and can be geographic, have established customers, or have compelling technology. Prefer to use equity for acquisitions as cash is valuable, with the GroupBy acquisition using equity at $3 a share.

Q: Can you discuss the factors that underpin the advantage Rezolve's proprietary LLM has versus AI solutions available in the marketplace today?

A: Rezolve's LLM is a vertical LLM focused on sales, solving product catalog hallucination, empathetic understanding of prompts, and trained on sales techniques. It sets apart with deep product expertise, empathy, and sales training, leading to products like Brain Commerce, Checkout, and Assistant.

Q: As you scale the organization and ramp revenue throughout the year, can you discuss the areas of investment and levels of increased expense needed to support this growth?

A: Costs will increase in line with revenue, with sales and marketing expense growing as teams are scaled. No meaningful step change in cost buckets, with operational leverage to scale quickly.

Q: Given that your SaaS business model should have a significant amount of operating leverage, how are you thinking about the level of annual recurring revenue at which the company is able to achieve operating profitability?

A: Expect to reach EBITDA break-even at the $90 million ARR level, better than initial $100 million target, depending on sales mix and contract specifics.