#1s AEVA Second Quarter 2023 Results © 2023 Aeva, Inc.#2AEVA Legal 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 second quarter 2023 and business objectives for 2023, along with our expectations with respect to the collaboration agreement with a Top OEM, Railergy as well as engagement and deployments 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 second 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. © 2023 Aeva, Inc.#3AEVA Agenda Second Quarter 2023 Highlights Business Update Second Quarter 2023 Financial Results © 2023 Aeva, Inc.#4AEVA Second Quarter 2023 Highlights Deeper Integration with Top-10 OEM Strategic collaboration agreement to use Aeva's perception stack to enable key driving use cases Expanding on-road deployment to 2024 © 2023 Aeva, Inc. 290 677-4 Bringing 4D LiDAR to Rail GATX Win with Railergy to enable automated train operations Railergy working with largest European freight carrier to deploy capabilities Industrial on Track for 2024 LIDAR-on-chip module validated for first Nikon product Progressing on development milestones with SICK AG#5AEVA Business Update © 2023 Aeva, Inc.#6AEVA Deeper Integration with Top-10 OEM Expanding into perception stack Use of Aeva's perception stack built around velocity data to achieve key use cases ● ● • Joint development of machine learning based perception software to enable key driving use cases for AV stack Expanding on-road deployment with plans to grow fleet into 2024 © 2023 Aeva, Inc. ROAD HAZARD DETECTED 6#7AEVA Bringing 4D LIDAR to Rail Railergy selected Aeva 4D LiDAR to enable autonomous rail solutions Velocity data and Ultra Resolution critical to achieving use case requirements Replaces conventional 3D LIDAR ● Railergy to provide solution to Europe's largest freight carrier Engaged on additional opportunities Long range, velocity and immunity to interference are key advantages for automation application © 2023 Aeva, Inc. Kolambratis Antidoxonctve 20. 17-41- 290 677-40 DB CargoLab Raum für lennvasion GAT#8AEVA Industrial on Track for 2024 Completed development of LiDAR-on-chip module. for first Nikon product Validated all performance specs including micron level precision On track for 2024 SOP © 2023 Aeva, Inc. 400 Nikon N#9AEVA Advancing in Automotive and Industrial Opportunities Continue to progress with leading vehicle OEMs Ongoing industrial automation engagements for precision Programs targeting SOP in 2025 - 2027 Anticipate award decisions in the next 6 - 12 months © 2023 Aeva, Inc.#10AEVA Second Quarter 2023 Financial Results © 2023 Aeva, Inc. 10#11AEVA Second Quarter 2023 Summary Highlights • Revenue driven by continued deployment of Aeries II ● Strong cash, cash equivalents and marketable securities position of $261.2m as of June 30, 2023 Weighted average shares outstanding of 220.5m in Q2 © 2023 Aeva, Inc. Revenue Non-GAAP Operating Loss¹ Gross Cash Use (operating cash flow less capex)² Q2 2023 $0.7m ($31.1)m ($28.5)m ¹Non-GAAP operating loss of $31.1m in Q2 2023 excludes stock-based compensation of $7.0m 2Capital expenditures were $1.1m in Q2 2023 11#12s AEVA © 2023 Aeva, Inc.