#1INNOVD INVESTOR DAY November 2023 103 TV#2DISCLAIMERS Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1996. The Company's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," "aim," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations regarding its future financial results and expected growth. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results, including Innovid's ability to achieve and, if achieved, maintain profitability, decrease and/or changes in CTV audience viewership behavior, Innovid's failure to make the right investment decisions or to innovate and develop new solutions, inaccurate estimates or projections of future financial performance, Innovid's failure to manage growth effectively, the dependence of Innovid's revenues and business on the overall demand for advertising and a limited number of advertising agencies and advertisers, the actual or potential impacts of international conflicts and humanitarian crises on global markets, the rejection of digital advertising by consumers, future restrictions on Innovid's ability to collect, use and disclose data, market pressure resulting in a reduction of Innovid's revenues per impression, Innovid's failure to adequately scale its platform infrastructure, exposure to fines and liability if advertisers, publishers and data providers do not obtain necessary and requisite consents from consumers for Innovid to process their personal data, competition for employee talent, seasonal fluctuations in advertising activity, payment-related risks, interruptions or delays in services from third parties, errors, defects, or unintended performance problems in Innovid's platform, intense market competition, failure to comply with the terms of third-party open source components, changes in tax laws or tax rulings, failure to maintain an effective system of internal controls over financial reporting, failure to comply with data privacy and data protection laws, infringement of third-party intellectual property rights, difficulty in enforcing Innovid's own intellectual property rights, system failures, security breaches or cyberattacks, additional financing if required may not be available, the volatility of the price of Innovid's common stock and warrants, and other important factors discussed under the caption "Risk Factors" in Innovid's Annual Report on Form 10-K filed with the SEC on March 3, 2023, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC's website at www.sec.gov and the Investors Relations section of Innovid's website at investors.innovid.com. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. 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. Most of these factors are outside the Company's control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. General Disclaimer This presentation contains summary information about Innovid and its activities as at the date of this presentation. It should be read in conjunction with Innovid's periodic disclosure announcements filed with the NYSE, available at investors.innovid.com. This presentation is for information purposes only and is not a prospectus or a product disclosure statement, financial product or investment advice or a recommendation to acquire Innovid shares or other securities. It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal, financial and taxation advice appropriate to their jurisdiction. Past performance is no guarantee or future performance. No representation or warranty, expressed or implied, is made to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Innovid and its related bodies corporate, or their respective directors, employees or agents, nor any other person accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability from fault or negligence. External Data Sources In addition, this presentation contains industry and market data and forecasts that are based on our analysis of multiple sources, including publicly available information, industry publications and surveys, reports from government agencies, reports by market research firms and consultants and our own estimates based on internal company data and management's knowledge of and experience in the market sectors in which the Company competes. While management believes such information and data are reliable, we have not independently verified the accuracy or completeness of the data contained in these sources and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation. Non-GAAP Measures and Certain Operational Metrics Innovid prepares unaudited interim condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles ("GAAP"). Innovid also discloses and discusses non-GAAP financial measures such as Adjusted EBITDA and Adjusted EBITDA margin and Free Cash Flow. We use Adjusted EBITDA, Adjusted EBITDA margin and Free Cash Flow as measures of operational efficiency to understand and evaluate our core business operations. We believe that these non-GAAP financial measures are also useful to investors for period-to-period comparisons of our core business. Additionally, these figures provide an understanding and evaluation of our trends when comparing our operating results, on a consistent basis, by excluding items that we do not believe are indicative of our core operating performance. 21 INNOVID#3DISCLAIMERS (Cont'd) These non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under GAAP. Some of the limitations of these measures are: ● ● they do not reflect changes in, or cash requirements for, our working capital needs; Adjusted EBITDA does not reflect our capital expenditures or future requirements for capital expenditures or contractual commitments; they do not reflect costs of acquiring and integrating businesses, which will continue to be a part of our growth strategy; they do not reflect one-time, non-recurring, bonus costs and third-party costs associated with the SPAC merger transaction and regulatory filings; they do not reflect goodwill impairment; they do not reflect severance costs; they do not reflect income tax expense or the cash requirements to pay income taxes; they do not reflect our interest expense or the cash requirements necessary to service interest or principal payments on our debt; and although depreciation and amortization are non-cash charges related mainly to intangible assets and amortization of software development costs, certain assets being depreciated and amortized will have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements. Adjusted EBITDA is defined as net loss attributable to Innovid, excluding (1) depreciation, amortization and long-lived assets impairment, (2) goodwill impairment, (3) stock-based compensation, (4) finance (income) expenses, net, (5) transaction-related expenses, (6) acquisition related expenses, (7) retention bonus expenses, (8) legal claims, (9) severance cost, (9) other, and (10) taxes on income. We calculate Adjusted EBITDA margin as Adjusted EBITDA divided by total revenue. We define Free Cash Flow as net cash provided by operating activities less capital expenditures. 31 Other companies in our industry may calculate the above described non-GAAP financial measures differently than we do, limiting their usefulness as a comparative measure. You should compensate for these limitations by relying primarily on our US GAAP results and using the non-GAAP financial measures only supplementally. Innovid has provided a reconciliation of Adjusted EBITDA and Adjusted EBITDA margin to net (loss) income, the most directly comparable GAAP measure, for historical periods in the appendix hereto. We also have provided reconciliation of Free Cash Flow to net cash provided by operating activities. We are not able to provide a reconciliation of the projected Adjusted EBITDA or Adjusted EBITDA margin to expected net (loss) income attributable to Innovid for the fourth quarter of 2023 or the full-year 2023, without unreasonable effort. This is due to the unknown effect, timing, and potential significance of the effects of taxes on income in multiple jurisdictions, finance (income)/expenses including valuations, among others. These items have in the past, and may in the future, significantly affect GAAP results in a particular period. Trademarks The companies depicted in the photographs herein, or any third-party trademarks, including names, logos and brands, referenced by the Company in this presentation, are the property of their respective owners. All references to third-party trademarks are for identification purposes only and shall be considered nominative fair use under trademark law. Further, none of these companies are affiliated with the Company in any manner. INNOVID#41 2 Agenda 3 Delivering on Our Vision 4 Powering the Future of TV Advertising Customer Panel: Disney, Publicis, Verizon Capturing the Market Momentum 5 6 7 Innovation Ahead Growth and Profitability Closing + O INNOVD O#5X | Today's Presenters Zvika Netter CEO & Co-Founder Krista Panoff Senior Vice President, Global Enterprise Development CHOSSIP Tony Callini Chief Financial Officer Blair Robertson Chief Technology Officer, InnovidXP + x Dave Helmreich Chief Commercial Officer Dan Mouradian Vice President, Client Solutions INNOVD#6Delivering on Our Vision Zvika Netter CEO & Co-Founder O INNOVD O#7INNOVD VISION Television open for everyone, controlled by no one.#8INNOVD MISSION To empower the creation, delivery, measurement, and optimization of ad-supported TV experiences that people love.#9INNOVD T लेकर Company estimate based on various sources >10,000,000,000,000 To empower the creation, delivery, measurement, and optimization of ad-supported TV experiences that people love. TV ads delivered annually#10| 2023 Continued Momentum O MORE CLIENTS REVLON PETSMART ups brooklinen Apartments.com™ Microsoft Otsuka MORE PARTNERS NBCUniversal Disney Paramount + INFILLION Walmart DSP Upwave MORE INNOVATION AI + MORE AD-SUPPORTED CTV prime video tv NETFLIX Disney + INNOVD#11| On Top of Our Existing Best-in-Class Client Base target Mercedes-Benz P&G Whirlpool gm verizon ♥CVS ANHEUSER-BUSCH sanofi SAMSUNG OMG Θ' TOYOTA HONDA Omnicom MediaGroup AT&T gsk STELLANTIS Microsoft L'ORÉAL PARIS PUBLICIS GROUPE M Pfizer Capital One Kraft BURGER KING dentsu MillerCoors State Farm STARBUCKS Disney WELLS FARGO IPG HEINEKEN BEST BUY Allergan ★macy's Kellogg's BANK OF AMERICA HAVAS INNOVD#12Scaling-Up for Faster Growth New C-Suite leaders Dave Helmreich Chief Commercial Officer ORACLE Yuval Pemper Chief Technology Officer radware Joining Soon! CMO Dani Cushion Chief Marketing Officer Tony Callini Chief Financial Officer AVI► cardlytics Ken Markus Chief Operations Officer Google#13Scaling-Up for Faster Growth New Commercial leaders Sarah Ripmaster Senior Vice President, Strategic Sales IBM Watson Alex Rowe Senior Vice President, Enterprise Sales P&G Dave Fahey Vice President, Strategic Agency Development Google O X Jeff Austin Senior Vice President, Revenue Operations everbridge#14| 2023 Focusing on Profitable Growth 20% 15% 10% 5% -5% -10% (12%) 0.50% 2022 2023 Q1 Adjusted EBITDA Margins (5%) 2022 13% 2023 Q2 8% 18% 2022 2023 Q3 X X 2022 2023 INNOVD#15| On Our Path to "Rule of 40" Reacceleration to DOUBLE-DIGIT REVENUE GROWTH Adjusted EBITDA MARGIN TARGET OF 30% Investment in CTV INNOVATION * INNOVD#16INNOVD One platform powering the future of TV * *** samman 6 III mumifian#17Innovid One platform powering the future of TV MEASURE INNOVID DELIVER CREA#18Innovid One platform powering the future of TV SURE INNOVD DELIVER CREATE#19Innovid One platform powering the future of TV SURE INNOVID DELIVER CREATE INNOVD#20Innovid One platform powering the future of TV SURE INNOVD DELIVER DATA CREATE#21Innovid One platform powering the future of TV SURE INNOVID DELIVER DATA CREA INNOVD 1.#22DATA- Our Strategic Asset Innovid's unique data set SURE INNOVD DATA SET DELIVER CREA 1.3 BILLION Ads served daily bo.....●●●●●●●●●●● ●●●●.........000#23DATA- Our Strategic Asset Innovid's unique data set TRILLIONS of observations DATA TYPES Publishers Devices Households Creative Reach Frequency Outcome & more INNOVD DATA SET 1.3 BILLION Ads served daily ●●●●●●●●●●●●●●0. ............●●●●●●●●● ·0.000..........000#24Al Runs on DATA Powers Innovid's future innovation INNOVD DATA SET AI OPTIMIZATION STRATEGIES 10. •●●●●●●● .. OPTIMIZATION ....... —1000 ...... SIGNALS.......... .. MEDIA PLATFORMS DSPs PUBS SSPS MVPDS#25INNOVD Powering the future of TV, TODAY MEASURE OPTIMIZE AI DELIVER CREATE#26Powering the Future of TV Advertising DOBROP Blair Robertson Chief Technology Officer, InnovidXP Dan Mouradian VP, Client Solutions INNOVD#27Innovid One platform powering the future of TV advertising Analytics Teams MEASURE INNOVID DELIVER Media Teams CREATE Creative Teams#28Innovid Enabling creative storytelling The evolution of TV creative Interactive Shoppable Personalized Multi-version Single TV Spot SURE INNOVD DELIVER CREATE Creative Teams#29Innovid Enabling creative storytelling The evolution of TV creative Interactive Shoppable Personalized Multi-version Single TV Spot SURE INNOVD DELIVER CREATE Creative Teams#30Innovid Enabling creative storytelling The evolution of TV creative Interactive Shoppable Personalized Multi-version Single TV Spot SURE INNOVD DELIVER CREATE Creative Teams#31Innovid One platform powering the future of TV advertising CTV Campaign Management Challenges Different OS/Specs Rejected videos Asset management Complex data management SURE INNOVID DELIVER Media Teams CRE INNOVD#32Innovid One platform powering the future of TV advertising O 11 Media Analysts MEASURE INNOVD DELIVER CREATE DATA Analysts prove & improve Unique reach Frequency Media selection Creative Cost#33Innovid Built for the future of TV 100% Media agnostic Full-Funnel Metrics Enterprise- Level Scalability Instant Optimizations Ad Server Data powers measurement and optimization MEASURE INNOVID DELIVER Perfect Video customized for every device CREATE Auto-Spec Checking ensures high quality Personalization based on 1st & 3rd Party Data Interactive formats & proprietary SDK Serving Global brands at massive scale Creative Asset management Authoring tools for Interactive Ads on CTV#34Innovid Built for the future of TV MEASURE AI DELIVER CREATE#35Capturing the Market Momentum Dave Helmreich Chief Commercial Officer INNOVD#36| Key Assets Enable GTM Opportunities BANNER CUSTOMERS CRITICAL INFRASTRUCTURE MULTI PRODUCT MOTION X X CONSULTATIVE SALE X INNOVD#37Experience for the Next Phase of Growth 100 Sarah Ripmaster Strategic Customers IBM Watson White glove service Critical infrastructure platform sale Alex Rowe Enterprise Customers P&G Focused upsell and cross-sell for 2+ products while increasing retention Dave Fahey Agency Development Google Complex commercial strategies with largest holding companies and independants Jeff Austin Revenue Operations everbridge™ Optimize revenue generation insights and drive operational efficiency#38| Four Primary Growth Drivers 1 CTV VOLUME GROWTH 2 UPSELL 3 CROSS-SELL X 4 X NEW LOGO X INNOVD#39CTV Growth Spending in CTV is not pacing with viewership CTV TV Spending vs. Viewership | 2023 25% 75% Spending Company estimate, based on various sources $ Gap 40% 60% Viewership (Time Spent) x ● O#40X CTV Growth Closing the gap: live sports to streaming O REUTERSⓇ World ✓ Media & Telecom Business ✓ Markets ✓ Sustainability ✓ Legal Amazon Prime Video's 'Thursday Night Football' starts strong with 15.3 million viewers TC Lauren Forristal @laurenforristal / 1:46 PM EDT September 22, 2022 Breakingviews Technology Investigatic pearocks NBCUniversal's Peacock to stream Paris 2024 Olympic Games coverage live Reuters A Aa May 11, 2023 11:12 AM EDT- Updated 5 months ago X The New York Times Max to Stream Pro Sports Starting in October Share full article ● Media companies are racing to figure out how to merge live sporting events with their popular but still cash-bleeding streaming services. A INNOVD#41CTV Growth Closing the gap: diversified viewership models SVOD On-demand subscription, NO ADS prime video άtv fios VUDU AVOD On-demand, AD SUPPORTED NETFLIX hulu Disney+ HBO max FAST On-demand / Live, FREE WITH ADS pluto xumo tubi plex & INNOVD#42CTV Upsell Existing customer loyalty 5.8yrs Top 100 AVG. CLIENT TENURE I Years 6.9yrs Top 50 7.8yrs Top 25 Client Tenure: 'Top Accounts' are based on revenue TTM ending Q3 2023. Accounts can be brands, agencies, or publishers. Start date is based on the month of first revenue without any 12 month gaps, regardless of region. X INNOVD#43| Customer Highlight: Upsell Disney Advertising Relationship Drivers Scalable outcomes measurement Advanced creative capability • Identity based approach Aligned vision and innovation partner Photo © WDW Upsell Solutions Expansion of measurement with ad tier viewership growth Expansion of measurement into new markets and regions Enabling new interactive, dynamic creative formats that align with premium content INNOVD#44CTV Cross-Sell Opportunity is ours to grab Case Study: Increased revenue with cross-sold product 100% 75% 50% 25% 0% Client Case Study - Share of Revenue By Product 2021 Product 1 T 2023 2022 Product 2 Product 3 INNOVD#45| Customer Highlight: Cross-Sell verizon Relationship Drivers Agency > Brand Direct • Dynamic personalization + ad serving excellence Active innovation partner Consultative and flexible services Photo © Verizon Cross-Sell Solutions InnovidXP measurement to prove the value of increasing CTV/video investment Measurement innovation and strategic POVS INNOVD#46| Customer Highlight: The Holy Grail of Growth + Upsell + Cross-Sell Top 3 CPG Brand Globally Relationship Drivers Brand direct + agency • Proof of performance Active innovation partner Extension of the team and a "partner to the partners" Platform Solution Scalable ad delivery for growth Increased solution usage with more campaigns New product solutions within LOBs/brands • Joint Innovation INNOVD#47CTV New Logo Market movement ripe for new customer acquisition The New York Times Google Antitrust Trial The Latest What to Know Key People What the U.S. Has Argued Google's Defense U.S.Accuses Google of Abusing Monopoly in Ad Technology The Justice Department's antitrust lawsuit, which a group of states joined, was the fifth by U.S. officials against the company since 2020. Share full article □ 193 Google campaign News Features Videos Agency Brand Creativity Tech Media X Opinion Podcasts Events Q Movers & Shakers X amazon ads Account - Amazon to sunset ad server by end of 2024 E-commerce giant is shuttering the two services it acquired from Sizmek in 2019. by Jessica Heygate X INNOVD#48| Customer Highlight: New Logo mazda (0 RFP Drivers Bespoke, relevant creative at scale Tailored, dynamic offers and messaging by region across makes & models. Ease of implementation. Photo © Mazda Why We Won O Advanced creative solutions with ability to produce unique, personalized creative at scale • Ability to use a wide variety of data signals Direct integration into Mazda's incentives and dealer location API (Within 6 months we also cross-sold ad serving.) INNOVD#49Innovation Ahead DOBROP Blair Robertson Chief Technology Officer, InnovidXP X AI + Dan Mouradian VP, Client Solutions INNOVD#50IMDb N UNIVISION FOX CAN Innovid Has One of the Best CTV Data Sets in the World It's this data that powers our Al abc pluto ESPN CRACKLE YouTube Vevo BBC AMERICA IGN CN LEMUNDO to O ............. 0.0 +1,000 CTV & OTT publishers 70 Countries live data Accessible In Snowflake, AWS, and via SFTP Over 1 Trillion Ads served MRC-Certified impressions Zero Effort for publishers & brands Full Video Assets for all ads served 3P Identities incl. OpenAP & LiveRamp Data Usage controls for publishers & brands INNOVD#51Data + Al + Serving Powers Innovid's future innovation INNOVD DATA SET AI OPTIMIZATION STRATEGIES#52Innovid Al Easy access to our knowledge INNOVD DATA SET AI INNOVID AI Hello! I'm Innovid's Al, your intelligent assistant. I'm here to help you understand and optimize your TV advertising campaigns, I can provide insights into your campaign's performance, delivery, and business impact. I'm connected to a network of intelligent agents that can assist with a wide range of tasks, from analyzing data to providing strategic recommendations. How can I assist you today? For how many days have each UltraTech creatives been on air for and how many times have t#53| Innovid Al Under the Hood 000 DRA うう Media Analyst "What should we do?" INNOVD#54| Innovid Al Under the Hood 000 B "What should we do?" 1 Media Analyst Language Al 2 "Please turn this question into code." INNOVD#55| Innovid Al Under the Hood 000 B "What should we do?" 1 Media Analyst Language Al "Please turn this question into code." 2 Dev Al 3 "Please review this code." Tester Al INNOVD#56| Innovid Al Under the Hood 000 B "What should we do?" 1 Media Analyst Language Al "Please turn this question into code." 2 Dev Al "Please review this code." Tester Al 4 VERIFIED CODE TO RUN INNOVD DATA SET INNOVD#57| Innovid Al Under the Hood 000 B "What should we do?" 1 DA Media Analyst Language Al 2 Dev Al ← Analyst Al Tester Al DATA RESULTS VERIFIED CODE TO RUN 4 INNOVD DATA SET INNOVD#58| Innovid Al Under the Hood 000 B "What should we do?" 1 DA Media Analyst Language Al 2 Dev Al "Here's how to optimize" INSIGHTS 5 Analyst Al Tester Al DATA RESULTS VERIFIED CODE TO RUN 4 INNOVD DATA SET INNOVD#59| Innovid Al Under the Hood 000 3 "What should we do?" "Here's what I learned ..." Media Analyst 6 Language Al 2 Dev Al "Here's how to optimize" INSIGHTS 5 Analyst Al Tester Al DATA RESULTS VERIFIED CODE TO RUN 4 INNOVD DATA SET INNOVD#60Innovid Al Under the Hood 1 MEDIA PLATFORMS Language Al 6 2 Dev Al "Here's how to optimize" INSIGHTS 5 Analyst Al Tester Al DATA RESULTS VERIFIED CODE TO RUN 4 INNOVD DATA SET INNOVD#61Data + Al + Serving Powers Innovid's future innovation INNOVD DATA SET AI OPTIMIZATION STRATEGIES Reach Frequency Creative Media Delivery OPTIMIZATION SIGNALS MEDIA PLATFORMS DSPs PUBS SSPS MVPDS#62Data + Al + Serving = Exponential Value Across all aspects of video execution Each strategy operates independently Frequency Media Reach INNOVD DATA SET AI Applying them together multiplies the effect | Creative Delivery INNOVD#63Growth & Profitability Tony Callini Chief Financial Officer INNOVD#64| Strong Investment Thesis Large and Growing Market With Lasting CTV Tailwinds Category Leader with Competitive Moat Top Global Clients with Strong Retention Positioned for Sustained Double-Digit Growth Scalable Business with Leverageable Operating Model 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as substitute for an analysis of results as reported under GAAP. See Appendix for a reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to the nearest financial measures reported under GAAP. INNOVD#65| Strong Investment Thesis Large and Growing Market With Lasting CTV Tailwinds Category Leader with Competitive Moat Top Global Clients with Strong Retention Positioned for Sustained Double-Digit Growth Scalable Business with Leverageable Operating Model • Approx. $200B TV ad market . Continued shift from linear to CTV • Live sports can accelerate transition • Growth in ad-supported models • Independent platform built purposely for CTV ● Accredited, award-winning technology • Invaluable data set of trillions CTV data observations • Disney, GM, Verizon, Mazda, Revlon, etc. • Top 25 clients average 7 years of tenure • Revenue base shifting to recurring model Compounding Growth Vectors • Longer-term target or 20%+ annual growth • Q323 Adjusted EBITDA Margin of 18% • Longer-term target of 30%+ 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as substitute for an analysis of results as reported under GAAP. See Appendix for a reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to the nearest financial measures reported under GAAP. INNOVD#66Consistent Pro Forma Revenue Growth In MM's @ USD $100.0 $50.0 $82.6 $14.0 $68.6 2020 $112.1 $23.1 $89.0 2021 Ad Serving / Personalization Notes: 1. Chart is based on pro forma basis, assuming TVS was part of Innovid since 2020 2. CAGR calculation utilizes top end of guide for 2023 value $131.4 $29.4 $102.0 2022 $135.0 $30.8 $104.2 $138.0 Measurement $136.0 Q3 23 TTM 2023 Guide 2023 Guidance 18.7% CAGR FY23 Guidance Range Recent macro ad spend environment has muted historical double digit growth rates INNOVD#67| Diversified Revenue Model 100% 75% 50% 25% 0% 100% 2020 Revenue Distribution 77% 23% 2023 Client Distribution Advertisers Agencies | Brands Strategic and Growth Ad Serving Primarily volume driven model, but with an increasing amount of fixed minimums and commitments Measurement Primarily SaaS type agreements. Ratable revenue model with upside for volume Publishers CTV Platforms and Apps INNOVD#68Adjusted EBITDA Outpacing Growth in MM's @ USD Ad Serving / Personalization $150.0 $100.0 $50.0 0% $68.8 $0.1 $68.6 3.8% I 2020 $90.3 $1.3 $89.0 6.0% 2021 IPO TVS Acquisition $127.1 $25.1 $102.0 1.0% 2022 Measurement $135.0 $30.1 $104.2 10.5% 2023 TTM $138.0 $136.0 Min 12.0% Adj. EBIDTA¹% 2023 Guide 20.0% 15.0% 10.0% 5.0% 0.0% Notes: 1. Growth rates are based on as reported basis (TVS was acquired Mar 2022) 2. Adjusted EBITDA margin is a non-GAAP financial measures. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as substitute for an analysis of results as reported under GAAP. See Appendix for a reconciliation of these non-GAAP measures to the nearest financial measures reported under GAAP. FY23 Guidance Range INNOVD#69| Efficient Operating Model Improving with Scale In MM's @ USD Revenue of tage Percentag 100% 90% 80% 70% 60% 50% FY 2020 Revenue IPO TVS Acquisition FY 2021 Integration Process Adjusted OpEX as % of Revenue Notes: 1. All Non GAAP metrics exclude Stock Based Compensation, Transaction costs, Depreciation, Amortization and Impairment FY 2022 $150 Revenue $125 $100 Adj. OpEx as % of Revenue $75 $50 2023 TTM Illustrative Margin Expansion Adjusted Operating Expenses INNOVD#70| Q4 and FY 2023 Guidance in MM's @ USD Revenue $35M Q4 2023 Guidance - Adjusted EBITDA¹ $5.5M - $37M $7.5M +4-10% year-over-year as-reported growth +84-148% year-over-year as-reported growth Revenue $136M - FY 2023 Guidance Adjusted EBITDA¹ $138M 12% or greater 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as substitute for an analysis of results as reported under GAAP. See Appendix for a reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to the nearest financial measures reported under GAAP. 2. Including growth when accounting for TVS revenue effective the acquisition date + 7-9% year-over-year as-reported growth 12x better than 2022 on as-reported basis INNOVD#71| Well Positioned for Margin Expansion on Growth Innovid Long-Term Model Revenue 20% + Revenue less Cost of Revenue Approx 80% of Revenue Adj. EBITDA Margin¹ 30% + Free Cash Flow¹ Realization > 60% of Adj. EBITDA Multiple growth vectors supports sustained double digit growth Efficient operating model converts more revenue to profit at scale No significant incremental capital requirements drives healthy Free Cash Flow¹ realization 1. Adjusted EBITDA Margin and Free Cash Flow are non-GAAP financial measures. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as substitute for an analysis of results as reported under GAAP. See Appendix for a reconciliation of Adjusted EBITDA Margin and Free Cash Flow to the nearest financial measures reported under GAAP. INNOVD#72| Long Term View in MM's @ USD Revenue Revenue less Cost of Revenue² R&D excl SBC² S&M excl SBC² G&A excl SBC² Adjusted EBITDA Margin¹,2 Free Cash Flow¹ 2021 $90.3 80% 26% 36% 21% 18% $(5.6) 2022 $127.1 76% 22% 36% 28% 8% $(22.0) TTM 9/30/23 $135.0 75% 17% 30% 23% 10% $(5.4) Long Term Targets 20%+ CAGR Increasing Operating Leverage 30%+ 18%+² 1. Adjusted EBITDA, Adjusted EBITDA margin and Free Cash Flow are non-GAAP financial measures. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as substitute for an analysis of results as reported under GAAP. See Appendix for a reconciliation of these non-GAAP measures to the nearest financial measures reported under GAAP. 2. Reflected as a percentage of revenue $$$ ~80% 12-15% 22-25% 12-15% $$$ $$$ INNOVD#73INNOVD (18.08 17:00 17:30 O Afternoon Teas Tr Mw Thank You.#74| Non-GAAP Financial Measures Reconciliation in MM's @ USD Net cash provided by operating activities Internal use software capitalization Purchase of property and equipment Free Cash Flow Net loss Depreciation, amortization, and impairment Goodwill impairment Stock-based compensation Finance expense (income), net Transaction related expenses Acquisition related expenses Retention bonus expenses Legal claims Severance cost Other (2) Taxes on income Adjusted EBITDA (1) Adjusted EBITDA margin 2021 (2.4) (2.6) (0.5) (5.6) 2021 (11.5) 0.7 3.3 4.4 7.2 0.2 1.2 5.4 6.0% 2022 (11.6) (10.0) (0.5) (22.0) 2022 (18.4) 6.1 13.9 (13.3) 0.4 5.0 3.2 1.5 0.9 2.0 1.2 1.0% 3Q'23 TTM 6.0 (10.8) (0.6) (5.4) 3Q'23 TTM (33.7) 11.5 14.5 19.4 (5.7) 0.0 1.4 1.5 0.8 0.2 4.2 14.2 10.5% 1. Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are non-GAAP financial measures. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as substitute for an analysis of results as reported under GAAP. 2. Primarily exit costs from former TVS employees. INNOVD