#1The New Image of Health TM Investor Presentation November 20, 2020 1#2Disclaimer This presentation is for information purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the "Business Combination") between Butterfly Network, Inc. ("Butterfly") and Longview Acquisition Corp. ("Longview"). The information contained herein does not purport to be all-inclusive, and none of Butterfly, Longview, or any of their prospective affiliates, or any of their control persons, officers, directors, employees or representatives makes any representation or warranty, express or implied, as to the accuracy, completeness or reliability of the information contained in this presentation. You should consult your own counsel and tax and financial advisors as to legal and related matters concerning the matters described herein, and, by accepting this presentation, you confirm that you are not relying upon the information contained herein to make any decision. Forward-Looking Statements This document includes certain statements, estimates, targets, forward-looking statements and projections (collectively, "forward-looking statements") that reflect assumptions made by Butterfly concerning anticipated future performance of Butterfly and its industry. Such forward-looking statements are based on significant assumptions and subjective judgments concerning anticipated results, which are inherently subject to risks, variability and contingencies, many of which are beyond Butterfly's control. Factors that could cause actual results to differ from these forward-looking statement include, but are not limited to, general economic conditions, the availability and terms of financing, the effects and uncertainties created by the ongoing COVID-19 pandemic, Butterfly's limited operating history, changes in regulatory requirements and governmental incentives, competition, and other risks and uncertainties associated with Butterfly's research and development activities and commercial production and sales. Such forward-looking statements may be identified by the use of words like "anticipate", "believe", "estimate", "expect", "intend", "may", "plan", "will", "should", "seek" and similar expressions and include any financial projections or estimates or pro forma financial information set forth herein. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements. Neither Longview nor Butterfly undertake any duty to update these forward-looking statements or the other information contained in this presentation. Neither Longview nor Butterfly makes any representation or warranty, express or implied, as to the accuracy or completeness of this document or any other information (whether written or oral) that has been or will be provided to you. Nothing contained herein or in any other oral or written information provided to you is, nor shall be relied upon as, a promise or representation of any kind by Longview or Butterfly. Without limitation of the foregoing, Longview and Butterfly expressly disclaim any representation regarding any projections concerning future operating results or any other forward-looking statement contained herein or that otherwise has been or will be provided to you. Neither Longview nor Butterfly shall be liable to you or any prospective investor or any other person for any information contained herein or that otherwise has been or will be provided to you, or any action heretofore or hereafter taken or omitted to be taken, in connection with this potential transaction. 2#3Disclaimer (cont.) Important Information About the Business Combination and Where to Find It In connection with the proposed Business Combination, Longview intends to file with the Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 (the "Registration Statement"), which will include a preliminary proxy statement/prospectus and a definitive proxy statement/prospectus, and certain other related documents, which will be both the proxy statement to be distributed to holders of shares of Longview's common stock in connection with Longview's solicitation of proxies for the vote by Longview's stockholders with respect to the Business Combination and other matters as may be described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities of Longview to be issued in the Business Combination. Longview's stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus included in the Registration Statement and the amendments thereto and the definitive proxy statement/prospectus, as well as other documents filed with the SEC in connection with the proposed Business Combination, as these materials will contain important information about the parties to the Business Combination Agreement, Longview and the proposed Business Combination. After the Registration Statement is declared effective, the definitive proxy statement/prospectus and other relevant materials for the proposed Business Combination will be mailed to stockholders of Longview as of a record date to be established for voting on the proposed Business Combination and other matters as may be described in the Registration Statement. Stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC's web site at www.sec.gov, or by directing a request to: Longview Acquisition Corp., 767 Fifth Avenue, 44th Floor, New York, NY 10153, Attention: Mark Horowitz, Chief Financial Officer or to [email protected]. Participants in the Solicitation Longview and its directors and executive officers may be deemed participants in the solicitation of proxies from Longview's stockholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in Longview will be contained in the Registration Statement for the Business Combination, when available, and will be available free of charge at the SEC's web site at www.sec.gov, or by directing a request to Longview Acquisition Corp., 767 Fifth Avenue, 44th Floor, New York, NY 10153, Attention: Mark Horowitz, Chief Financial Officer or to [email protected]. Additional information regarding the interests of such participants will be contained in the Registration Statement when available. Butterfly and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Longview in connection with the Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the Business Combination will be contained in the Registration Statement when available. No Offer or Solicitation This presentation shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This presentation shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. 3#4Today's Speakers CO LONGVIEW Merger & Investment Larry Robbins Chairman Longview Acquisition Corp. GLENVIEW CAPITAL MANAGEMENT CA on the Penn Vision & Future Development Dr. Jonathan R. Rothberg Founder & Chairman Butterfly Network ion torrent **AOX+ CuraGen Corporation RainDance Technologies In O Clinical Overview Dr. John Martin Chief Medical Officer Butterfly Network Medical Center Parkland >Butterfly The New Image of Health Technology & Product Demo Gioel Molinari President Butterfly Network BRIDGEWATER Bloomberg Carnegie Mellon University Business & Commercial Overview Laurent Faracci Chief Executive Officer Butterfly Network Reckitt Benckiser GLOBAL SELF-CARE FEDERATION EDHEC BUSINESS SCHOOL Financials Stephanie Fielding Chief Financial Officer Butterfly Network amazon UGI CORPORATION MACOLARE 4-Columbia Business School 4#5Merger & Investment 5#6The Story of Butterfly Driven by the vision of an innovative founder Butterfly developed and introduced a revolutionary product • With a breakthrough technology putting ultrasound on a semiconductor chip Pursuing ubiquity through simplicity and affordability Addressing an unmet need ● ● ● ● ● ● ● To disrupt a large and expanding total addressable market Aligned with and enabling healthcare's mega-trends Fortified by an experienced partner Enabling a logical, advantaged product roadmap With strong initial market adoption, excitement and momentum Brought to the public at an attractive valuation Supported by a clear mission and world class team X 6#7Transaction Overview Butterfly Network is preparing to go public through a SPAC Merger with Longview Acquisition Corp. who may raise an additional $175 million PIPE to further support long-term growth Butterfly Network, Inc. ("Butterfly") is the inventor / pioneer in the emerging field of semiconductor-based point-of-care ultrasound ("POCUS") devices and related imaging and workflow software Founded in 2011 by visionary innovator Jonathan Rothberg (454 Life Sciences, lon Torrent, 4Catalyzer) Total investment of over $400 million with first product introduced in 2018, 700+ patents and 2020E revenue of $44 million, projected to grow to $138 million in 2022E Longview Acquisition Corp. ("Longview") is a Special Purpose Acquisition Corporation ("SPAC") brought public as an affiliate of Glenview Capital Management Initially capitalized with $414 million in cash in May 2020 trading under the ticker LGVW/U Glenview Capital was founded in 2000 by Larry Robbins and is currently in its 20th year of active public markets investing with a focus on the healthcare market Butterfly and Longview signed a Letter of Intent on October 11, 2020 and seek to enter into a definitive merger agreement in November 2020 In conjunction with the closing, Longview may raise an additional $175 million of capital through a Private Investment in Public Equity ("PIPE") structure on equivalent terms as Longview's initial investors ($10 per Longview share) The parties seek to close the merger by 1Q 2021 7#8Transaction Overview Sources, uses and pro forma ownership Sources 1. 2. 3. 4. 5. 6. Butterfly Rollover Equity Longview Cash Held in Trust PIPE Investment Total Sources Share Price Pro Forma Shares Outstanding Equity Value + Debt Pro Forma Valuation Pro Forma Cash Enterprise Value 2022E Revenue EV / 2022E Revenue $1,293.8 414.0¹ 175.0 $1,882.8² $10.00 203.73 $2,037.4 $4.44 (584.5)5 $1,457.3 $137.9 10.6x Equity Consideration to Existing Investors Cash to Balance Sheet Estimated Transaction Expenses Total Uses Uses Illustrative Pro Forma Ownership Existing Butterfly Rollover Equity 63.5% $1,293.8 549.01.2 40.0 $1,882.8 LGVW Public Shares 20% LGVW Sponsor Shares 5% PIPE Investor Shares 9% Convert Investor Shares 2.5% Assumes no redemptions Excludes the Forward Purchase Agreement (FPA) provided by funds managed by Glenview Capital Management. Such FPA provides for the purchase of common stock at $10 per share in an amount necessary to ensure, after factoring in PIPE investment and any redemptions, that the minimum $250mm cash closing condition is met Estimated fully diluted shares outstanding based on (i) 182.5mm common shares owned by: Longview Public Shareholders (41.4); Longview Sponsor/Board (10.4); PIPE (17.5); and legacy Butterfly (113.3); (ii) 23.3mm options outstanding and available for grant held by legacy Butterfly and to be exercised using the Treasury Stock Method (16.1 net); (iii) 5.1mm shares issued to Butterfly convertible noteholders and converted at $10.00 per share immediately prior to closing; and (iv) excluding 13.8mm public warrants, 6.85mm private warrants, the effect of any option exercises or forfeitures since September 29, 2020 and any newly authorized shares available for grant since September 29, 2020 that are attributable to a new option plan to be adopted at closing Projected BFLY debt at 01/31/21: assumes $51.1mm of convertible debt illustratively converted at $10.00 per share Projected BFLY cash balance at 01/31/21; includes $29.35mm of cash proceeds from convertible notes issued in October 2020 and converted at $10.00 per share immediately prior to closing All shares of Series A Preferred of the Company would be exchanged into special voting stock carrying 20x voting power (and be otherwise identical to the Class A Common Stock issued in the IPO) 8#9Investment Case Summary A unique investment in a dynamic Med-Tech environment Our investment case is clear: Butterfly attacks a large, $8 billion addressable market and expands it materially by meaningfully growing each of the following: points of care, geographic reach and use cases Butterfly has a very clear right to win. Butterfly is the best product, the best price, and the best platform Butterfly has many attractive investment attributes: strong balance sheet and liquidity, low manufacturing costs, rapid growth, high recurring revenue, a discounted relative valuation and high-return reinvestment opportunities ● ● ● ● Finally, Butterfly has strong alignment, building clinical and societal value designed for commercial success and shareholder value creation 9#102020 Butterfly Network, Inc. Vision 10#11Driven by the Vision of an Innovative Founder Dr. Jonathan Rothberg PhD, Founder and Chairman, has dedicated his career to enabling breakthrough technologies to revolutionize healthcare ion torrent *AOX+ 2000-2011 Dr. Jonathan Rothberg invents next-gen DNA sequencing & wins Presidential Medal of Tech & Innovation prad ANCHOR The New York Times Hope in the palm of a hand 2011-2020 4Catalyzer and Butterfly Network are founded M'pay SSFINE HYPERFINE T TODAY 7 C-Corps 400+ team members >$750M raised X 11#12Clinical Overview 12#13Addressing an Unmet Need Breaking through the barriers of conventional ultrasound systems Ultrasound usage today has been constrained by high upfront system cost, limited access, and suboptimal convenience. GED 688 ssss Ubiquity Mobility Medical Professionals' and Patients' Needs Affordability Ease-of-use 13#14The Opportunity is Immense and Meaningful Improving healthcare access and delivery is critical 1. 2/3 of the world has no access to medical imaging ¹ 1 Per World Health Organization applied to current world population 2/3 of diagnostic dilemmas can be addressed through simple imaging 14#15Use Cases: Ultrasound is Safe with Broad Applications TIS: M, Lung P4 Lung TIS: 0.01, M: 0.19, Nerve Needle Viz™ Ultrasound Broad Clinical Utilities Thyroid Airway Heart Lung Bladder OB/GYN Prostate Stones Carpal Tunnel Retinal Detachment Carotid Vascular Access Joint Injections Trauma Fractures DVT/ Blood clots Orthopedics TIS: GOS M 925, C Cardiac 297mL Estimated Volume Bladder 15#16Expanding Access to Care Beyond Traditional Imaging Settings New settings closer to patients create breakthrough economics and growth potential Disrupting the $8 billion global ultrasound market¹... ~$6bn Equipment Market ● Cart ● Compact ● Handheld ~$2bn Services Market Ultrasound Breakdown² Sources: 1. GE Healthcare Investor Presentations 2. IHI Market Handheld devices are < 3% of global ultrasound units in addition to expanding access to care in numerous new settings Traditional Scan Settings Future Expansion of Care Settings Hospital * Pre-Hospital Dialysis Centers Niche Doctor Offices Urgent Care JU ASCs Opo Long-term Care " Veterinary O Imaging Centers Home Emerging Markets 16#17Increasing Demand for Point-of-Care (POCUS) Education Sources: 1. Protocol 1 Evaluation for left ventricular systolic function (compared with expert sonography) Evaluation of IVC to determine volume status and predict readmission for CHF Evaluation for pleural effusion (compared with CT or expert sonography) Evaluation for pneumonia (compared with x-ray or CT) Sensitivity 69%-94% 81% 94% 90%-96% Specificity 91%-94% 72% 98% 88%-93% Training Requirement 8 hours of training or 20 practice exams 4 hours of training and 20 practice exams 3 hours of training 3 hours of training Bornemann P, Jayasekera N, Bergman K, Ramos M, Gerhart J. Point-of-care ultrasound: Coming soon to primary care? J Fam Pract. 2018 Feb;67(2):70-80. PMID: 29400896. X 17#18Technology 18#19A Revolutionary Imaging Solution of Hardware & Software Powered by Ultrasound-on-Chip™ + Empowered by Al Ultrasound-on-Chip Teleguidance/AR/UI/ Deep Learni Edu Content Clinical Data TM Devices Cloud/Workflow / App 19#20Open Imaging Ecosystem: Devices, Content, SaaS Software Services AI Content Hardware Image Storage (PACS) & Collaboration Enterprise Workflow & Analytics Collective Intelligence Powered Al Assistance and Interpretation Apps Developer SDK Predictive Analytics for Clinical Decision Support Secure Clinical Data & Educational Materials Ultrasound Images, Annotations, Tutorials Ultrasound-on-Chip™ Platform 2D, 3D Telemedicine Educational Community 20 API & SDK#21A Logical, Advantaged, Expected Product Roadmap Our story of innovation only started with Butterfly iQ 2018 iQ Launched in 2018 2020 iQ+ 4216 2021 iQ in the Home 2022 Gen3 Probe 2023 Gen4 Probe Wearable In-Home "Butterfly Labs" 2024+ Innovation 21#22Business Overview 9:41 +59.8 cm/s -59 8 ↑ Presets 0.06 0.24 13 ** 04 Actions CARD 22#23Disrupting a Large and Expanding Total Addressable Market Focus on expansion into new settings beyond legacy market with large addressable populations Sources: 1. 2. 3. 4. Addressable Populations 40M+ Global Healthcare Practitioners Medical Doctors ~12M 1 3M+ Initial Target 2 Time Nursing and Midwives 28M+ 3 5M+ Initial Target 4 Per WHO World Health Report Global Medical Doctors Comprised of Anesthesiologists, Primary Care Physicians, Medical Schools, Emergency Medicine, Hospital Medicine, Musculoskeletal, and Urology Healthcare Practitioners in core geographies where the company is pursuing commercial efforts Per WHO World Health Report Global Nurses and Midwives Comprised of 1/3 of nurses and midwives in core geographies where the company is pursuing commercial efforts > 23#24The Time for Butterfly to Transform Healthcare is Now Macro Trends Aging Population Chronic Disease Proliferation Move from Hospital to Home Settings Wellness Monitoring Butterfly Tailwinds Big Data / Al to Empower Decisions Value-Based Care Adoption POCUS in Medical Education New Imaging Settings 24#25Disrupting a Large and Expanding Total Addressable Market Focus on expansion into new settings beyond legacy market with large addressable populations Addressable Populations Sources: 1. 2. 3. 4. 5. 6. 40M+ Global Healthcare Practitioners Medical Doctors ~12M 1 3M+ Initial Target 2 Nursing and Midwives 28M+ 3 5M+ Initial Target 4 Wearables 6 >100M Chronic Patients in the US Alone 5 25M+ Urinary Incontinence ~0.5M Dialysis 5M+ Chronic Heart Failure (CHF) Time Per WHO World Health Report Global Medical Doctors Comprised of Anesthesiologists, Primary Care Physicians, Medical Schools, Emergency Medicine, Hospital Medicine, Musculoskeletal, and Urology Healthcare Practitioners in core geographies where the company is pursuing commercial efforts Per WHO World Health Report Global Nurses and Midwives Comprised of 1/3 of nurses and midwives in core geographies where the company is pursuing commercial efforts Per CDC 2009 Power of Prevention, in 2005 133M Americans had at least one chronic illness. Per the Lancet, by 2020 157M US citizens were predicted to have more than one chronic condition, with an estimated 81M having multiple conditions In development, subject to marketing authorization 25#26Rapid Innovation Cycle for Better Clinical Outcome Continuous innovation streams on both hardware and software Hardware iQ+: Our 2nd Generation Ultrasound-on-Chip™ 15% faster frame rates 20% longer battery life 15% smaller probe head 2x continuous run time Software Recent Monthly Upgrades 00 EDUCATION 100 TELEGUIDANCE™M NEEDLE VIZ™ 3D RENDERING 26#27E-Commerce for Individual Practitioners and Early Adopters X NEW Led Tve: ProX-bunda-12.300 - pert FREE shipping on all orders using code PREESHIP2020 at checlosut NEW! ***** 500-Appoings Butterfly IQ+ With Pro membership (+4420yr $99/yr) www in Prehrine nebership? Get Q-Pro Al-b burde Lighting Mew Doguebiet USB-C for Android devices and Pad Manele ink Store NEW! Butterfly iQ+ (Human) From $1999+ membership $1999 .00 Eng merber? Lagin General Medicine is #1 Buying Segment... Demonstrating the breadth, depth, and ease-of-use of Butterfly's solutions General Medicine Emergency Medicine Anesthesiology MSK Hospitalist Speciality Surgery Cardiology Rads Medical Students OB/GYN 27#28Healthcare Institutions to Drive Adoption at Scale Strong initial adoption, excitement, and momentum Butterfly Enterprise O Security POCUS Education Clinical imaging Analytics Workflow QA and credentialing Butterfly has an existing footprint in most of the Top 100 US Health Systems 28#29Plans to Access the Home Market Novice healthcare practitioners, then patients self scanning + wearables 2023 Wearable In-Home Alternative sites of care Dialysis centers Urgent care Long term care In-home care Urology-Bladder Cardiovascular- CHF Primary care X 29#30OX Financials 30#31Butterfly has Substantial Growth Potential Across Multiple End-Markets 65% revenue CAGR from 2019-2024E 1. Near-term growth supported by executing pipeline bookings across the enterprise and e-Commerce markets • Long-term growth enabled by continued market penetration and the introduction of Wearables $44mm 2020E Device & Accessories¹ iQ Software Device & Accessories includes sales from device, warranties and accessories Device Wearables Software $334mm 2024E iQ Commercial Plans Scale sales and marketing Execute on enterprise-level strategy ● Further develop software and analytics suite Plans to launch new probe with technological updates every other year to ensure hardware superiority Patch Commercial Plans • Expected commercial launch in 2023, subject to marketing authorization • Patch designed to capitalize on momentum from higher tier software and at-home monitoring trends • Commercialization pursued through payor partnerships as well as direct-to-consumer 31#32Robust Revenue Growth with Roadmap to Compelling Margin Profile Revenue ($ millions) % y/y Revenue Growth $400.0 $300.0 $200.0 $100.0 $0.0 % Gross Margin $44.0 NM 60% 2020 2021 2022 2023 2020 $78.1 1. Subject to development timelines and marketing authorization 43% $137.9 77% 51% $235.2 77% 60% 68% 71% $334.0 I 2024 2021 2022 2023 42% 2024 X iQ vs. Wearables Wearables Conservatively 0% of 2022 Revenue, 5% of 2023 Revenue, and 10% of 2024 Revenue 1 Gross Margin Target Long-Term > 70% Cash Flow Target EBITDA and Cash Flow turn positive in 2024 after significant investment phase 32#33Highly Compelling Investment Attributes Strong Balance Sheet Rapid Growth Recurring Business Discount to Comparables 1. Assuming no redemptions Over $500 million of cash¹ to drive the Company through its investment phase and to expected positive cash flow Revenue projected to grow over 65% during the forecast period Software revenue is expected to grow to between 40-50% of total revenues in the back half of the decade, while Butterfly iQ+ users are likely to engage in a hardware replacement cycle every 3-5 years 10.6x 2022E revenues with 70+% growth versus comparables at 13-20x+ 2022E revenues, with meaningfully slower growth 33#34Brought to the Public at an Attractive Valuation Merger price set at a comfortable discount to similar early-stage innovators to incentivize current and new stakeholders to maximize impact High Growth Med-Tech Software-as-a-Service Disruptive Technologies Butterfly 1. 2. Dexcom Insulet Corporation AAdobe zoom GUARDANT Adaptive MEDICAL Rhythm SILKROAD) .Outset SHOCKWAVE Veeva Square 10x BERKELEY 6 LIGHTS GENOMICS Company internal data, public filings and FactSet as of 11/18/20 Price fixed as of 08/04/20, one day prior to the announcement of Teladoc's acquisition of Livongo MEDION INC salesforce Butterfly™ The New Image of Health OINARI MEDICAL OTELADOC. ►Livongo NANOX 2 EV/Revenue 2022E 1 14.0x 13.1x 20.2x 10.6x X Revenue CAGR 2020-2022E 1 34% 27% 45% 77% 34#35Supported by a Clear Mission and World Class Team Zero selling shareholders in the transaction Visionary Leadership Strong Support Team $400mm+ of Total Funding 3 ACATALYZER Stephanie Fielding Finance ion torrent *AOX+ ACADIA MODOS amazon Recipient of the Presidential Medal of Technology & Innovation for inventing a novel next generation DNA sequencing method • Previously founded 454 Life Sciences, the company under which Cura Gen Corporation Dr. Jonathan M. Rothberg Chairman and Founder he brought his novel genome sequencing method to market • Founded several additional companies, including lon Torrent, CuraGen Corporation, Clarifi, Rain Dance Technologies, Al Therapeutics, Quantum-Si, Hyperfine Research and 4Bionics LLC Jan Grimm Sales OPTUM AERIS FOSUN PHARMA 复星医药 Dr. John Martin Medical, Clinical, Regulatory, Education MedStar Health Gioel Molinari President / Product & Software BRIDGEWATER BAILLIE GIFFORD CAPITAL HILDRED MANAGEMENT, LLC Reckitt Benckiser Dave Perri Hardware & Operations SONOS . PFM · ● Laurent Faracci Chief Executive Officer Deep expertise in the consumer health space and a track record of building and growing multi-billion dollar businesses Prior to joining Butterfly in April 2020, served in a variety of management roles at Reckitt Benckiser over the course of 20 years, including EVP Health Additionally a Permanent Member of the Facebook Global Client Counsil and a Board Member for the Global Self Care Federation, industry association for OTC and consumer health Named AdAge Media Maven in 2013 BILL & MELINDA GATES foundation Joao Rodrigues Marketing & Digital Commerce Reckitt Benckiser C C MENG Darius Shahida Strategy & Business Dev. BIRCH GROVE canica CD-VENTURE TRATE Katie Yoshida People & Talent TWO SIGMA 35#369:41 ade from screen right Presets VASC ACC Thank You Flip X Needle all ** 01 0 = Actions 36