#1BG BERKSHIRE GREY BERKSHIRE GREY Q3 2021 Overview November 11, 2021 FAL VENE O 5 Pack IGRET Stat BONUS 18045 ORDIN SINGL#2BG Cautionary 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; (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; (c) demand for Berkshire Grey products that does not grow as expected; (d) dependence on a limited number of third-party contract manufacturers; (e) the failure to manage any growth in the company or its business; (f) increased competition; (g) the difficulty of predicting order flow and revenue generated from Berkshire Grey's small number of customers and its generally large order sizes; and (h) other risks associated with companies, such as Berkshire Grey, that are engaged in the intelligent automation industry. This presentation is not a representation that forward-looking statements 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 in the Registration Statement on Form S-1, filed by Berkshire Grey with the SEC (File No. 333-258991) ("Registration Statement"). 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 do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. BERKSHIRE GREY 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. 2#3Pure Play Automation Ecommerce & Retail Transformation 3#4Transforming: Retail, E-Commerce, Grocery, Package Handling Disruption $280+ Billion TAM#5Today, Warehouse Operations Are Largely Manual But Top 3 Problems: Labor Is Scarce, Need To Do More To Meet Consumer Expectations, Competition Is Fierce Source: 2019 MHI Annual Industry Report. 5#6Berkshire Grey Transforms Warehouse Operations 03 23 wwww Ban Al-Powered Robotics Automate Operations to Alleviate Customer Pain Points Appl 6#71838 T GRE 23 4810 BG 23 BERKSHIRE What We Do @ Berkshire Grey Is Intelligent Enterprise Robotics (IER) ● ● ● ● Al-enabled picking & amplification robots. Al-enabled mobility. System orchestration to meet performance objectives. Cloud-based monitoring and analytics.#8Substantial Commercial Momentum BG BERKSHIRE GREY BG HEG BERKSHIRE GREY $280bn TAM Today Driven By Retail Transformation $184m Total Orders to Date(¹) $113m Total Backlog(¹) Fortune 50 Customers (1) Includes orders received in October 2021. 24124 BG BERKS GREY ■ Large TAM which exists today: Tied to consumer consumption and increasing consumer expectations - retailers must transform. ▪ Land and expand growth: Currently expanding our penetration throughout our anchor customers' networks. Scalable business model: Asset-light business model can scale rapidly to meet demand. ▪ Established, growing organization: -400 employees across seven locations ensuring commercial success. ▪ Partnership Program: Nine new partnerships, complements our sales and deployment teams 8#9Q3 & Recent Highlights: Accelerating Growth Financial Highlights: Revenue of $19 million Increase of 750% year-over-year compared to Q3 2020 Increase of 317% compared to Q2 2021 Orders of $184 million¹, growth of $70 million from December 31, 2020 Backlog of $113 million¹, growth of $43 million from December 31, 2020 Operational Highlights: Secured $25 million in additional orders from an anchor customer Secured $11 million in new orders with new customers Scaled its Berkshire Grey Partner Alliance program to nine members Announced general availability of two product modules Robotic Pick and Pack (RPP) Robotic Shuttle Put Wall (RSPW) ● Began trading on the Nasdaq Stock Exchange Grew the organization to approximately 400 employees 1) Reflects total orders since inception. Includes orders received in October $20 $15 $10 $5 $0 (millions) $180 $160 $140 $120 $100 $80 $60 $40 $20 $0 (millions) $2.2 Revenue by Quarter Q3 2020 Q4 2020 $114 $3.6 Dec-20 $4.0 Q1 2021 Orders (¹) $148 21-Jul $4.5 $18.8 Q2 2021 Q3 2021 $184 21-Oct#10Business Units Aligned With Focus Verticals Each Led By Experienced GM; Customers & Systems In Use In Each Vertical Five Focus Verticals E-Commerce BG EMEA APAC ■ Retail Brick-and-mortar process combining with ecommerce & ecommerce driven expectations BERKSHIRE GREY THE ▪ Global retail sales were -$23trn(¹) in 2020 and growing rapidly (1) E-Commerce 1 SHOP NOW Rapid expansion of e-commerce relative to total retail ▪ 2020 e-commerce sales were $4trn globally, up over 16.5% YoY Grocery Online grocery delivery is growing and is here to stay Parcels ▪ The global online market was $200bn in 2020; expected to grow at -16% through 2027 FedEx Fec ▪ Ecommerce driving growth and volume of small packages ▪ Global small package volume could have reached -130bn in 2020 and could surge to over 300bn by 2026 E-Commerce spans each vertical and is driving rapid growth globally EMEA spans each vertical with a dedicated General Manager APAC spans each vertical and is a potential focus area moving forward Source: Statista, 09/10/20; Business Insider, Global ecommerce market report: ecommerce sales trends and growth statistics for 2021, 12/30/20; Online Grocery - Global Market Trajectory & Analytics, 09/07/20; Pitney Bowes, Parcel Shipping Index, 10/12/20; Mordor Intelligence, Global Third-party Logistics (3PL) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026), 2020. Includes grocery sales. 3PL ▪ Third party logistics enables retailers and manufacturers large and small to outsource ▪ Global 3PL market expected to reach $1.7trn by 2025 10#11Anchor Customer Overview Significant penetration potential Targeted commercial strategy across verticals Conversion of large opportunity into revenue BG BERKSHIRE GREY ■ Fortune 100 Retailer $11bn 2021E CapEx (1) (2) 3,979 Distribution centers(1) Fortune 100 Retailer $3bn 2021E CapEx BG Immediate commercial opportunity Source: Company management, public filings and FactSet. Includes US supercenters. Includes stores. BG High-level executive access 1,910 Distribution centers(2) Fortune 100 Retailer >$1bn 2021E CapEx BG Dozens Distribution centers Fortune 100 Package Logistics Company $6bn 2021E CapEx ■ Ongoing follow-on orders Multiple upside opportunities exist in the long-run Aggregate revenue represents only a small percentage of current anchor customer CapEx ▪ Mix shift to recurring and re-occurring revenue as Berkshire Grey scales ▪ Significant opportunity to monetize large and growing installed base 605 Distribution centers Penetration and cross-sell within same customer BG Desire to roll-out automation globally 11#12BERKSHIRE GREY 2G BERKSHIRE GREY Technology & Solutions 23. BERKSHIRE GREY BE 23 O BERKSHIRE ANAY BERKSHIRE GREY 23 187546 CARRE BG ENNE BO DON TONAL Ney Klaser BERKSHIRE 28 ARMADA GREY BG BERKSHIRE GREY BG BERKSHIRE Ive BERKSHIRE GREY 27#13Foundation For Autonomous Warehouses: Picking, Mobility, Orchestration Each Has Many Advanced Al and Differentiated Hardware Elements BG BERKSHIRE GREY 28 REAKS GEHIRE BG 39 BG Ⓒ BG BERKSHIRE GREY 23 Al Cen 13#14Technology: Al Drives The Capabilities BG Artificial intelligence is at the core of the solution Holistic sensing, haptics & inference Systems of systems orchestration Machine learning BERKSHIRE GREY Computer vision & scene understanding @ Grasp planning Motion planning IT integration / API Remote monitoring, management, and software maintenance Mobile user interface Berkshire Grey offers a complete enterprise software suite ▪ Proprietary cloud-enabled artificial intelligence ▪ Different Al subsystems combined with patented and proprietary hardware (scanners, sensors, grippers, robots) to enable solutions ▪ Systems work when deployed - Do not require years of learning or training to hit metrics - Learn and improve on a continuous basis ▪ Interfaces with customers' existing technology stacks Enables remote monitoring by mobile devices Technology offering includes remote monitoring and management, optimization and analytics ■ Scalable, adaptable, and reliable Al to automate tasks that have never before been performed by machines in commercial settings 14#15Solution Leadership Through Al Combined With Differentiated Hardware Competitive advantage comes from powerful intelligent algorithms (Al) and software... 01010100 Computer 10 vision and 0100 scene understanding 10100 01011 1010 *** 1010101001 10100110101 BG 0101 Machine 10 10 dearning 01011101010 011010 Motion planning BERKSHIRE GREY rver airror mod Grasp planning operation "MIRI irror mod.use x False mirror_mod.use_y - False mirror mod.use_z - True #selection at the end -add back the deselected mirror ob.select- 1 modifier ob.select-1 Holistic sensing, haptics and inference how.context.scene.objects.action = modifier_ob "Selected" + str(modes) #modifier ob Systems of systems orchestration ...physically realized through differentiated hardware... BAB Automated robotic picking Intelligent robotic mobility Sophisticated robotic perception HBG BERKSHIRE GREY ...combined to create customer solutions 15 major product o models Solving customer needs from picking-and- packing in e-commerce to same day grocery to store replenishment Differentiated technology across software and hardware protected by 300+ patent filings JO AWARNING 15#16RPS (Robotic Product Sortation) Combines Picking And Sortation BG BERKSHIRE GREY PARDSHIRE BG BERKSHIRE GREY 50 16#17MRF (Mobile Robotic Fulfillment) Combines Mobility, Movement Of Goods & Orders, & Robotic Picking BG BERKSHIRE GREY 23 GREY 126 23 23 BEPSHIRE GREY 2G BERKSHIRE GREY 100000000000000 DUTER 23 17#18MRF (Mobile Robotic Fulfillment) Enhanced Mobile Platform BG BERKSHIRE GREY 248 ARR 44 MEE PR 18#19Multiple RPS Modules With Orchestration BG BERKSHIRE GREY 33 02 03 19#20RPSI (Robotic Product Sortation & Identification) Combines Singulation, Scanning, & Sortation BG BERKSHIRE GREY 23 2001 20#21Notable Recent Commercial Activity FedEx. FedEx Newsroom Search Newsroom Search Latest News Media Requests and Resources Media Downloads News Archive Shipping ✓ Tracking ✓ Printing Services v BG Q Choose a region Global FedEx Ground and Berkshire Grey Team Up to Streamline Small Package Processing New Sortation Solution Enables Autonomous Package Processing And Improved Optimization August 12, 2021 Locations MEMPHIS, Tenn., August 12, 2021 - FedEx Ground, a subsidiary of FedEx Corp (NYSE: FDX), has recently implemented Berkshire Grey's Robotic Product Sortation and Identification (RPSI) systems at its station in Queens, NY Berkshire Grey, a developer of Intelligent Enterprise Robotics solutions, executed the RPSI systems to robotically sort the thousands of small packages that arrive daily in bulk into containers bound for other specific hubs and stations across the FedEx Ground network FedEx Ground plans to install additional Berkshire Grey RPSI systems at sortation facilities in Las Vegas, Nev and Columbus, Ohio, in the coming months. NTERPRISEAI ADVANCED COMPUTING IN THE AGE OF A Support RPSI has been engineered to autonomously process-pick, identity, sort, collect and containerize - individual polybags, tubes, padded mailers, and other small packages that traditionally are sorted manually apid growth of e- M/FedEx BG www.s FedEx Ground Turns to Al Robotic Arms to Sort Small Packages in Time for the Holiday Rush September 3, 2021 by Todd R. Weiss www HOME FEATURES COVID SYSTEMS SILICON SOFTWARE STORAGE NETWORKS DATAC small packages streamlines Search said Jessica BER GRE BERKSHIRE GREY For the first time, FedEx Ground is using Al-enabled robotic arms in some of its package sorting facilities to increase the number of tougher-to-handle small packages that can be sorted and routed every hour, while also allowing hard-to-find workers to focus on more important tasks The shipping company has been using two robotic arm systems from enterprise robotics vendor Berkshire Grey since March 2021 in its package sorting and delivery center in Queens, N.Y., and is planning to have two more systems in operation in its shipping hubs in Las Vegas and Columbus, Ohio, by later this year. The Robotic Product Sortation and Identification (RPS) systems from Berkshire Grey sort thousands of small packages as they arrive to the Queens facility each day and place them one by one into containers that are bound for other shipping hubs across the FedEx Ground network, according to FedEx. The smaller packages include individual plastic shipping bags, plastic tubes, padded mailers, and small boxes Grey's RPSI and innovation nt benefits that ancing customer is uniquely able abels to be cal identification COVID-19 COVERAGE: INDUSTRY PRESS ROOM ABOUT CONTACT DC VELOCITY Berkshire Grey provides grocery-picking robots in $23 million deal Contract with retailers comes weeks before automated fulfillment provider is set to go public. MAGAZINE TRANSPORTATION MATERIAL HANDLING TECHNOLOGY L!!! MEDIA FILE 0 23 DC Velocity Staff Warehouse robotics and automation provider Berkshire Grey Inc. will provide grocery-picking robots through ANNUAL PACKAGING DISTRIBUTION, WAREHOUSING AND MANUFACTURING MODERN MATERIALS HANDLING A SB Logistics steps toward lights-out warehouse Masashi Okabe (left), project manager and production. engineer, and Taro ito, robot OCOA lead, SoftBank Robotics. READERSURVEY Pallet Report 30 INFORMATION MANAGEMENT Packaging automation 40 BG September 2021 BEST PRACTICES Pack stations 48 EQUIPMENT REPORT Cubing and weighing 52 SPECIAL SUPPLEMENT MRO in materials handling 59 Peerless MIDATE Berkshire Grey Launches Al-Powered Robotic Shuttle Put Wall to Meet Surging eCommerce Demands and Mitigate Labor Shortages Berkshire Grey, Inc. Wed, September 22, 2021, 9:12 AM In this article: BGRY -0.96% ☆ Businesses can increase eCommerce order fulfillment process by up to 300% and handle nearly 100% of typical eCommerce SKUs, all without the need to hire additional staff I 21#22The BG Difference: Proven Al Technology, Customer Success, Expert Team BG 22 BG BATON Comprehensive Al-Enabled Robotics Portfolio • Intelligent: Al-enabled systems provide immediate "out of the box" performance for picking, mobility and orchestration. • Scalable: Suite of modular "Lego block" systems are configured for each customer. BERKSHIRE GREY Sticky: Enabling customers to adapt and compete in the digital, on-demand economy. ● PG B5 Proven Customer Deployments in complex environments Trusted by the world's leading companies for mission-critical operations. Demonstrated performance for throughput and speed, while reducing costs • Delivering attractive ROIs (2-3 years). Robot Mit Massachusetts Institute of Technology amazonrobotics Stanford ● BAB Microsof DEKA Uber Penn UNIVERSITY of PENNSYLVANIA 4 LOCKHEED MARTIN Honeywell Carnegie Mellon University The Robotics Institute M rethink robotics. ORACLE Google T symbotic Akamai BAE SYSTEMS DRAPER KIVA Systems. TESLA NASA Boston Dynamics Experienced Team of world-class technologists, architects and go-to-market leaders Deep innovation experience: Talented team selected from market-leading organizations including NASA, iRobot, Uber, Tesla, and Amazon. Proven leadership team: Sales, marketing, finance and operations leaders successful in creating value for customers and shareholders. 22#23Experienced Management Team, Board & Advisors Berkshire Grey Team Management Team Commercial Team Experience Tom Wagner, PhD CEO iRobot BG INTELEX Steve Johnson COO DARPA cabec vidyard ▪ Each GM specializes in a focus vertical or anchor customer; GMs have -32 years of experience on average ▪ ~80 sales & marketing professionals, including seven GMs Microsoft Shark NINJA R.E.D.D. Honeywell BERKSHIRE GREY Widespread and global commercial experience Honeywell Hootsuite™ CIMCON Software NASA 30 METASTORM™ 30 P UBER Engineering Team Massachusetts Institute of Technology NEC NEC EVERGY SOLUTIONS THE UNITED to Mark Fidler CFO ambient Matt Mason, PhD Chief Scientist Carnegie Mellon University The Robotics Institute evergreensolar ▪ Over 1,000 years of combined robotics experience ThinkFeed Cornell University Robot BCG ▪ 75% of all employees have technical degrees; 30+ PhDs T Carnegie Mellon University Penn COGNEX ABB TESLA Boston Dynamics 28 ▪ Technical experience across a wide array of centers of excellence and blue-chip firms 40 Years of experience amazonrobotics Board of Directors and Advisors Serena Wolfe CFO Annaly Capital Management Peter Barris Chairman and Partner at NEA Fiona Dias Former executive at Shoprunner, PepsiCo, Proctor & Gamble Nadia Shouraboura, PhD Former VP of Global Supply Chain and Fulfillment at Amazon Rich Boyle General Partner at Canaan Partners Sven Strohband, PhD CTO at Khosla Ventures Tom Wagner, PhD CEO John Delaney Founder, CEO and Chairman of Revolution Acceleration Acquisition Corp 23#24TAM, Tech, Team, Timing HEG BG 17650 Z BERKSHIRE GREY 12G H BERKSHIRE GREY 123 RKSHIRE EY BERKSHIRE GREY Transforming warehouse operations; $280+ billion TAM Al-enabled technology creates competitive moat World class team with over 1,000 years of Al/robotics experience Differentiated model; complete foundation for automated operations: picking, mobile, orchestration Accelerating commercial momentum Right time for Berkshire Grey, entering a period of transformative growth 24