#1BG BERKSHIRE GREY Berkshire Grey Company Overview B G November 2022#2Cautionary Note Regarding Forward-Looking Statements Certain statements in this presentation are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or future financial or operating performance of Berkshire Grey, Inc. Forward-looking statements include, but are not limited to, statements regarding: (i) the growth of Berkshire Grey's business and its growth strategy, including the potential size of the total addressable market and Berkshire Grey's growth of, and conversion of orders from, its pipeline, and expected penetration; (ii) Berkshire Grey's expected results, including with respect to revenue, earnings and margins; (iii) Berkshire Grey's entry into new markets, consummation of acquisitions and direct contracting opportunities trends and developments in the robotics and artificial intelligence industries; and (iv) Berkshire Grey's visibility into its future financial performance, including cash flows. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "assume", "continued", "goal”, “plan”, “potential", "projected", "target" or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the business and its management, are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Such risks and uncertainties involving Berkshire Grey include, but are not limited to: (a) current and future conditions in the global economy, including as a result of the impact of the COVID-19 pandemic, inflation and rising interest rates; (b) the loss of any customers, or the termination of existing contracts by any customers; (c) the inability to penetrate new markets and generate revenues from the pipeline; (d) demand for Berkshire Grey products that does not grow as expected; (e) dependence on a limited number of third-party contract manufacturers; (f) the failure to manage any growth in the company or its business; (g) increased competition; (h) the difficulty of predicting order flow and revenue generated from Berkshire Grey's small number of customers and its generally large order sizes; (i) risks associated with Berkshire Grey's plans to develop and commercialize its product candidates to meet constantly evolving customer demands; (j) Berkshire Grey's ability to maintain and establish collaborations needed to grow its business; (k) Berkshire Grey's ability orto obtain additional funding; (kl) other risks associated with companies, such as Berkshire Grey, that are engaged in the intelligent automation industry; and (Im) other risks associated with companies, such as Berkshire Grey, that are engaged in the intelligent automation industry. Berkshire Grey provides no representation that forward-looking statements included in this presentation will prove to be accurate or that any of the contemplated results of such forward-looking statements will be achieved. For additional information about other risks and uncertainties of Berkshire Grey's business, financial condition, results of operations and prospects generally, please refer to Berkshire Grey's reports filed with the Securities Exchange Commission ("SEC"), including without limitation the "Risk Factors" and/or other information included therein. Berkshire Grey's filings with the SEC 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 Berkshire Grey 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. This presentation contains certain financial projections, forecasts, estimates and targets. Financial projections, forecasts, estimates and targets are forward-looking statements. They are provided for illustrative purposes only and may not be indicative of future results. The assumptions and estimates underlying financial projections, forecasts, estimates and targets are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties as discussed above. While all financial projections, forecasts, estimates and targets are necessarily speculative, Berkshire Grey believes that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, forecast, estimate or target extends from the date of preparation. Actual results may differ materially from the results contemplated by the financial projections, forecasts, estimates and targets contained in this presentation. The inclusion of such information in this presentation is not a representation that the forecasted results will be achieved. Use of Non-GAAP Financial Metrics This presentation includes certain non-GAAP financial measures (including on a forward-looking basis) such as Adjusted EBITDA and Adjusted EBITDA Margin. These non-GAAP measures are an addition, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of non-GAAP measures to their most directly comparable GAAP counterparts are included in the Appendix to this presentation. Berkshire Grey believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about the company. Berkshire Grey management uses forward-looking non-GAAP measures to evaluate Berkshire Grey's projected financials and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents, including that they exclude significant expenses that are required by GAAP to be recorded in Berkshire Grey's financial measures. In addition, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore, Berkshire Grey's non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Trademarks Berkshire Grey owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its business. This presentation may also contain trademarks, service marks, trade names and copyrights of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply, a relationship with Berkshire Grey, or an endorsement or sponsorship by or of Berkshire Grey. Solely for convenience, the trademarks, service marks, trade names and copyrights referred to in this Presentation may appear without the TM, SM, Ⓡ or Ⓒ symbols, but such references are not intended to indicate, in any way, that Berkshire Grey will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks, trade names and copyrights. BG BERKSHIRE GREY 2#3BG BG BERKSHIRE GREY Pure Play Robotic Automation Company ed eCommerce, Retail, Package Handling Transformation Proven Robotics Solutions Deployed at Scale BERKSHIRE GREY Our Mission: Help Customers Succeed Help customers improve efficiency, raise quality, lower prices, and get goods to new places more rapidly by supporting people with intelligent automation. 3#4We Automate the Most Difficult Manual Tasks of Commerce Fulfilment BG BERKSHIRE GREY PICKING SORTATION MOVEMENT تند ELEN Ma B G WARNING Ove Ma of 쪘 Benefits Up to 100% Labor Reduction Up to 100% Accuracy 3x Associate Throughput 3x Induction Rate Up to 66% Less Floor Space >90% SKU Coverage 4#5BG ROBOTIC PICK & PACK 23 102 BG ROBOTIC PRODUCT SORTATION W/IDENTIFICATION BG ROBOTIC PICK & SORT We Enable Transformative Change for Our Customers ULI BG MOBILE ROBOTIC AUTOMATION 03 5 9 5#6Transformantion Is Important Because Today Warehouse Operations Are Largely Manual Retailers, ecommerce companies, 3PLs, logistics companies must change 7 16090 5 3 a#7Macro Drivers of Automation - Top 3 Industry Issues CONSUMER EXPECTATIONS LABOR SCARCITY 93% of consumers expect exactly the right goods either right now or nearly so. 56% of online shoppers abandoned carts because of concerns with delivery speed. Retailers must meet today's customer demand for faster delivery; automation can boost order fulfillment operations. BG Sources: Retail Dive, ShipBob BERKSHIRE GREY 73% of warehouses are having difficulty attracting and enabling employees. Robotic automation can enable workers to focus on high-value work while accomplishing tedious, repetitive tasks. Source: Instawork COMPETITIVE PRESSURE ~57% of all online retail purchases in the U.S. were made at Amazon last year. Amazon Robotics has driven the warehouse robotics and automation categories for years; others are compelled to catch up. Sources: TechCrunch, PYMNTS 7#8Berkshire Grey Today BG Disruptive growth company Transforming a $280B market A (1) Strong commercial momentum $250M $104M Orders to date Backlog 1 170 Patents Awarded¹ Proprietary, Al robotics platform As of November 10, 2022 1 325 Patents Pending¹ FedEx Walmart SEPHORA O Trusted by Fortune 100 & Global Brands Retail, eCommerce, Logistics ABealls meijer Fortune 100 Retailer 卻 Scalable Global Brand Apparel Retailer business model Asset-light strategy enables rapid growth and drives long-term profitability 8#9Berkshire Grey Summary BG Well Positioned In $280B Market Current Market & Is Addressable Today Disruptive Al Robotics Technology Powered By Proprietary Hard-To-Replicate Software & 170 Patents Awarded Deployed At Fortune 100 Customers Including Two Of The World's Largest Retailers Deeply Embedded With Customers Integrated Part of Their Automation Strategies $250M) Orders-to-Date; $6B+ Pipeline Strong Commercial Momentum (1) As of November 10, 2022 9#10Pick, Sort, Organize Is The Core Automation Of Small Unit Handling During Time Critical Steps Of The Process - BG BERKSHIRE GREY RECEIVING Unload, Receive, Decant, Putaway Faster truck turnaround STORING Dense Storage, AS/RS, Shelves Smaller AS/RS footprint BG RPS BG FLEX BG RSPWi ● ● ● BERKSHIRE GREY PROCESSING BG Pick, Sort, Pack, Organize (eaches, smalls, small lots) Up to 100% Labor Reduction Up to 100% Accuracy 3x Associate Throughput 3x Induction Rate Up to 66% Less Floor Space >90% SKU Coverage BG RPC BG RPP SHIPPING Loading Faster delivery Faster replenishment D 10#11BG Technology Advantage: Proprietary Al Software + Patented Hardware Proprietary Al Software Platform Motion planning Intelligent placement Robotic perception Vision and scene understanding eee Holistic sensing, haptics and inference Intelligent robotic mobility System-wide orchestration + Patented and Differentiated Hardware (170 patents) BERKSHIRE 23 GREY Grasp planning and gripping Standard Product Modules . Configured into Solutions 11#12Berkshire Grey's Standardized Product Modules ROBOTIC PICK & SORT Automated picking combined with Al orchestrated BG sortation for a variety of application areas Robotic Product Sortation Robotic Product Sortation with Identification Robotic Put Wall BG BERKSHIRE GREY ROBOTIC PICK & PACK Automated picking combined with capabilities such as precise packing and placement Robotic Pick Cell Robotic Pick & Pack Cell Robotic Induction System MOBILE ROBOTIC AUTOMATION Orchestrated mobile robotic systems where hundreds to thousands of robots are deployed and work together (and with other BG systems) in a coordinated fashion Mobile Robotic Fulfillment 12#13BG's Go-To-Market Strategy: A growing pipeline across five verticals BG Fortune 100 Retailer Strategic Accounts Walmart FedEx Thousands of distribution centers BG pipeline: Follow on orders received with each strategic account Expansion potential in $ billions long-term Direct Sales №: eCommerce Retail Enterprise Accounts SEPHORA Brand-leading apparel retailer meijer ABealls Hundreds of targeted companies BG pipeline: Doubled the number of new accounts in 2021 Currently engaging in over 150 project opportunities Grocery Strategic Partners swisslog ABB Atos TESSIANT AHS LLC A GREGORY POOLE AFFILIATE CONSULTING REIMAGINED 16 Strategic BG Partners BG pipeline: Partners have established relationships with industry lead Active joint engagements with large accounts Package Handling 3PL G 13#14de PODS Vide PODS 404 3694 2G BERSE 23 BERKSHIRE GREY 3694 As highlighted on our customer's recent earnings call … The importance of Berkshire Grey automation to support their growth 14#15Berkshire Grey and FedEx Expand their Strategic Relationship 1 An order to design and develop a new Al robotic automation solution to improve the efficiency of FedEx package handling operations. BG will sell the unit to FedEx as well as other retailers and logistics companies - solves a ubiquitous multi-billion-dollar problem. BG 2 A warrant to purchase BGRY common stock which vests incrementally, subject to certain terms, including the ordering of and payment for Berkshire Grey Al-enabled robotic automation goods or services, and which fully vest and become exercisable when FedEx orders and payments reach at least $200 million at any time prior to December 31, 2025. 3 A master system purchase agreement expected in late 2022, which will streamline and expedite the procurement process for Berkshire Grey solutions. BERKSHIRE GREY FedEx Ground BERKSHIRE GREY'S ROBOTIC PACKAGE SORTATION AT A FEDEX REGIONAL HUB GG Earlier this week, Fedex announced it is extending its strategic partnership with Berkshire Gray to develop extensive Al robotic automation solutions throughout all stages of the global supply chain. I'm especially excited to continue the work that initially began at Fedex Ground integrating robotics into our operations to safely and effectively sort the increasing number of small packages entering our network through e-commerce. 95 John Smith President & Chief Executive Officer at FedEx Ground LinkedIn post August 2022 15#16BG ✓ Demonstrated ability to achieve performance metrics, e.g., throughput & accuracy, in real world settings. Proven technology in production environments at Fortune 100 companies Berkshire Grey - Why We Win ✓ Complete products that automate entire process steps. Customers want solutions, not components of a solution. ✓ Wide item compatibility across our entire product portfolio. Industry-leading SKU coverage BG Proven, leader in Al robotics technologies (Al, sensing, gripping, sortation) with first-mover advantage. Core technology first deployed in 2015. BERKSHIRE GREY 16#17BU GOW H Financial Overview#18Financial Summary Q3-22 Financial Highlights: ● Revenue of $24 million Increase of $5 million or 26% year-over-year BG Backlog of $104 million() Orders since inception of $250 million Profitability drivers: 260 Asset-light business model Increased scale Product cost reductions OPEX leverage 240 220 200 180 160 140 120 YTD Operational Highlights: Strategic agreements with FedEx Secured $50 million in orders year-to-date") - primarily follow-on orders with strategic customers Expanded the Berkshire Grey Partner Alliance (BGPA) program to 16 partners Orders Since Inception (¹) Q1 21 Q2 21 Q3 21 $250 million Q4 21 October 2022 G Long-Term Operating Model: ~50% GM ~25% Adj. EBITDA (2) As of November 10, 2022 BERKSHIRE 1. GREY 2. Defined as loss from operations adjusted primarily for depreciation, stock-compensation expense, provision for common stock warrants, and changes in the fair value of warrants 18#19BG BERKSHIRE GREY