Aeva Results Presentation Deck

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Aevacare

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Consumer

Published

May 2023

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#1s AEVA First Quarter 2023 Results © 2023 Aeva, Inc.#2Legal Disclaimer Forward-looking statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements in this presentation include our beliefs regarding our financial position and operating performance for the first quarter 2023 and business objectives for 2023, along with our expectations with respect to our orders, product shipments, manufacturing plans and engagement with other customers. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including, but not limited to: (i) the fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva's limited operating history, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the ability for Aeva to have its products selected for inclusion in OEM products and (v) other material risks and other important factors that could affect our financial results. Please refer to our filings with the SEC, including our most recent Form 10-Q and Form 10-K. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations. Financial Information; Non-GAAP Financial Terms The financial information and data contained in this presentation is unaudited and does not conform to Regulation S-X promulgated under the Securities Act of 1933, as amended. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any filing Aeva makes with the SEC. This presentation contains non- GAAP financial measures. Please refer to our first quarter 2023 results press release for a reconciliation of GAAP to non-GAAP measures. Aeva believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Aeva's financial condition and results of operations. Aeva believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. Management of Aeva does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Aeva's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by Aeva's management about which expenses and income are excluded or included in determining these non-GAAP measures. AEVA © 2023 Aeva, Inc.#3Agenda First Quarter 2023 Highlights Business Update First Quarter 2023 Financial Results AEVA © 2023 Aeva, Inc.#4First Quarter 2023 Highlights Working to Deepen Relationship with Top-10 OEM ● ● 13 Enabling key safety use case previously unachievable with 3D ToF LIDAR Ongoing discussion on perception software development A © 2023 Aeva, Inc. AEVA Ongoing Traction In Automotive ● Advanced to a growing number of automotive RFQs Momentum with Perception Platform ● Multiple engagements for precision distance measurement#5Business Update AEVA © 2023 Aeva, Inc.#6Working to Deepen Relationship with Top-10 OEM First vehicles built utilizing Aeva's 4D LIDAR and velocity data Aeva 4D LIDAR enables key safety use case previously unachievable with 3D ToF LIDAR In discussion for perception software development AEVA © 2023 Aeva, Inc. ULTRA LONG RANGE OBJECT DETECTION AND TRACKING 76.3m ID 838 502.4 m 12.4 m/s 6#7Advancing in Automotive and Industrial Opportunities Progressing from RFI to RFQ on large series production opportunities with leading passenger and commercial vehicle OEMs Multiple industrial automation engagements for precision Programs targeting SOP in 2025 - 2027 Anticipate award decisions in the next 6 - 12 months AEVA © 2023 Aeva, Inc. EVA a- 7#8Expanding LIDAR-on-Chip Module Manufacturing with Fabrinet New Manufacturing Line at Fabrinet Thailand • Increases LIDAR-on-chip module manufacturing capacity ● to meet growing interest Will support future ramp for series production • Automate 100% of LiDAR-on-chip module assembly steps • New line bring up completed by end of 2023 ● AEVA © 2023 Aeva, Inc. 8#9First Quarter 2023 Financial Results AEVA © 2023 Aeva, Inc.#10First Quarter 2023 Summary Highlights Revenue driven by continued deployment of Aeries II Strong cash, cash equivalents and marketable securities position of ~$290m as of March 31, 2023 Weighted average shares outstanding of 219.6m in Q1 ● ● AEVA © 2023 Aeva, Inc. Revenue Non-GAAP Operating Loss¹ Gross Cash Use (operating cash flow less capex)² Q1 2023 $1.1m ($31.3)m ($37.3)m ¹Non-GAAP operating loss of $31.3 in Q1 2023 excludes stock-based compensation of $6.0m 2Capital expenditures were $1.3m in Q1 2023 10#11s AEVA © 2023 Aeva, Inc.

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