#1TM INNOVIZ TECHNOLOGIES Q2 2023 Earnings Presentation August 2, 2023 OO#2Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz's products, the markets in which Innoviz operates, Innoviz's projected future operational and financial results, including Cash Collection from Customers, revenue and non-recurring engineering (NRE) bookings. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. "Cash Collection from Customers" is cash received by the Company from revenues, advances and NRE bookings as described in the following sentence. “NRE (Non-recurring Engineering) bookings" is booked services that may be ordered from Innoviz usually as part of a series production award or other program and includes, among other things, application engineering, product adaptation services, testing and validation services, standards and qualification work and change requests (usually during the lifetime of a program). The commitment for a certain NRE is usually provided around the initiation of the program and may be paid based on milestones over the development phase of the project which may take a few years. Many factors could cause actual future events, and, in the case of our forward-looking revenue, Cash Collection from Customers, and NRE bookings, actual orders or actual payments, to differ materially from the forward-looking statements in this announcement including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to convert series production awards or other programs into definitive orders and the magnitude of such orders, the possibility that NRE would be set off against liabilities and indemnities, the ability to identify and realize additional opportunities, and potential changes and developments in the highly competitive LiDAR technology and related industries. The foregoing list is not exhaustive. You should carefully consider such risk and the other risks and uncertainties described in Innoviz's annual report on Form 20-F filed with the SEC on March 9, 2023 and other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Viewers are cautioned not to put undue reliance on forward-looking statements, and Innoviz 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. Innoviz gives no assurance that it will achieve its expectations. INNOVIZ TECHNOLOGIES TM Ⓒ Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. 2#3INNO VIZ TECHNOLOGIES TM OUR VISION Become the World's Leading Tier 1 Supplier of LIDAR & Perception Software Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. FE EXP EXPRESS 18 INNOVIZ RAINIA 10 "AJ#4First Generation BMW Program Production Units Shipped Deploying on the BMW 7 Series INNOVIZ TECHNOLOGIES Began shipping production units in 3Q23 SOP ramping through the back half of 2023 Pursuing integration with additional models Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner.#5Second Generation LİDAR Development for BMW Strong vote of confidence from a major OEM Beginning development of B-Samples for second- generation BMW LIDAR program Developing a much broader suite of solutions - LIDAR, compute module, upgraded perception software, and all- new MRM software Working on the program as a Tier 1 direct supplier INNOVIZ TECHNOLOGIES TM Opportunity for substantial NRE and sample shipments Will enable BMW Group to decide on a serial production award for the next-gen program by late 2023 or early 2024; co-locating engineers for rapid progress New program is targeting higher volumes and a broader array of vehicles Ⓒ Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. GE LIDAR is one of the critical technologies underpinning Level 3 or even higher automated functions. Optimizing LiDAR technologies and costs are the major challenges in order to bring Level 3 highly automated driving into the mainstream. We are very pleased to have Innoviz develop the first B-Samples of this new LIDAR generation. " Nicolai Martin SVP Driving Experience, BMW Group 5#6New InnovizCore Al Compute Module A platform for future software growth Decentralized compute power dedicated to advanced LiDAR-based software solutions - offers Innoviz a base for further expansion of Al-driven software Most advanced Convolutional Neural Network (CNN) accelerators available, designed for processing super high resolution LiDAR data in real time High performance GPU and DSP accelerators and high efficiency computing cores Reduces compute load, and cost, of central ECU for the OEM Capable of integrating data inputs from camera and radar in addition to LIDAR and enables ongoing upgrades through OTA updates Grows our total addressable content per vehicle INNOVIZ TECHNOLOGIES TM INNOVIZ ● Ⓒ Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner.#7Moving up the software stack First instance where Innoviz software will be controlling a vehicle INNOVIZ TECHNOLOGIES Minimum Risk Maneuver (MRM) Software Growing our software mix kto 49 Deepens integration with customers Further assimilates our data and software with their development www m 11 1 www. www M eme 100) Yours m 100 Blw DAILI 1 A potential new first for LIDAR Aiming to be the first instance of LiDAR controlling a vehicle during the MRM procedure Executing MRM 180 OF 100 ED Financial tailwind Increased software mix expected to be revenue and gross margin accretive Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. 7#8Second Generation Custom ASIC Unlocks new levels of performance Meaningfully better point cloud - more points per second Extends maximum detection range to over 450 meters Unlocks increased software functionality Enables us to support more configurations with one product Major source of competitive advantage Many competitors are using multiple FPGA's instead of a custom ASIC, often adding hundreds of dollars of cost, size, weight, complexity, power consumption, and heat challenges INNOVIZ TECHNOLOGIES TM Ⓒ Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. INNOVIZ SO 1020-03-18 2322 BC INSVIZ 124000-ES INNSVIZ INV24006-ES 50X1070-ES-AB PEAARS L000S 2322 802 INNO VIZ IN24000-ES SOX 1070-ES-AB PGAMS.L003 20F189 2322 802 UNS VIZ INNOVIZ 1/4000 85 SXNK P. A HAMSLLOR INNOVIZ INV24000-ES SOX 1070-ES-AB PSAA45 LO403 20F109 INNOVZ 20 INNOVIZ 24000 SOXES A PEAMS43803 20189 INNOVE INNOVIZ N2000-LS NX 1070-05-16 1SAMSLINO3 2010 8#9Rapidly Advancing Our Resolution A key competitive advantage MARY AMPO Ⓒ Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Docun 2016 PROTOTYPE I 2017 PROTOTYPE II 40x performance 70% Cost Reduction 2018 INNOVIZ PRO 20x Performance 60% Cost Reduction 2020 INNOVIZONE 20x Performance 60% Cost Reduction 2022 INNOVIZTWO 30x Performance 70% Cost Reduction GASHA#10Able to Support Multiple LIDAR Configurations With One Architecture Increases our volumes and drives structural cost leadership INNOVIZ TECHNOLOGIES TM ⒸInnoviztechnologies to 2023 All Rights Reserved - Propriel & Confential. No Part of this Document May be Reproduced or Disclosed in Any Manner 10#11New Light Commercial Vehicle Program Revenues expected to grow in 2H23 with accelerated deployment path Sample units began shipping end of 2Q23, expected to ramp in 2H23 Test vehicles with our units replacing development stage competitor's units; should be on the road later this year SOP targeting mid-decade, moving much faster than prior programs Framework agreed, pending final requirements and commercial terms. TM INNOVIZ TECHNOLOGIES ⒸInnoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. 11#12Market Capture Window 2023-24 Opportunity to solidify clear leadership position Bo Innoviz Customers 6 Awards & Programs M 2 With customers representing ~15% of global automotive production INNOVIZ TECHNOLOGIES W Innoviz Pipeline' 10-15 Programs in RFI or RFQ With customers representing ~40% of global automotive production Including 8 of the top 10 global automakers >50% in RFQ stage Source: Internal Projections 1. Pipeline includes business in the RFI or RFQ process and there can be no assurances that Innoviz will enter into contractual arrangements with these OEMs or customers 2. Includes content supplied by IHS Automotive; Copyright © IHS Automotive, 2023. Ⓒ Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. Concentrated ultimately expected to be a winner takes most, ~2-3 player market - Safety Critical - Tech Differentiated - Cost Leadership Majority of automotive OEM share likely to be awarded in the next 12-18 months OO 12#13INNOVIZ TECHNOLOGIES TM Q2'23 Financial Update Eldar Cegla, Chief Financial Officer#14Cash Position & Financial Update Liquidity of $130M in cash and cash equivalents, short-term deposits, short term restricted cash and marketable securities as of June 30, 2023 Innoviz operating cash burn in the second quarter of 2023 was within planned budget Revenues for 2Q23 were $1.5M, up 45% compared to revenues of $1.0 million in Q1 2023 and down 18% compared to revenues of $1.8 million in Q2 2022. The 45% quarter-over-quarter increase in revenues, was primarily driven by increased unit sales, which grew 47% sequentially. The year-over-year decline in revenues was driven primarily by the progress in the BMW program as it transitioned to volume production at Magna, the Tier-1 on the program. The transition includes a shift from selling full LiDAR units to selling components to Magna at lower production average sales prices. 2023 Revenue Cadence Outlook - Q3 2023 revenue expected to approximately double versus Q2 2023, with another meaningful increase in Q4 2023 INNOVIZ TECHNOLOGIES TM Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. Revenues for Q2 2023 $1.8M 2Q22 YOY $1.5M 2Q23 QOQ $1.0M 1Q23 $1.5M 2Q23#15Raising 2023 Targets Solid progress YTD Customer Targets +1-3 Additional Programs with Existing Customers Previously raised from +1-2 Financial Targets $15-20M $20-30M 2023 Revenue ~150-230% YoY Raised from $12-15M INNO VIZ TECHNOLOGIES +2 New Series Production Awards with New Customers Solid progress TM 2023 Cash Collection from Customers +295 - 490 % YoY $20-70M New NRE Bookings ~80-530% YOY Raised from $20-40M ↑ Ⓒ Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. Sources of Pre- Production Income Sample Units Much higher ASPs than production units - typically $5,000-15,000 Non-Automotive Sales Much higher ASPs than automotive productions units - typically $5,000-15,000 Non-Recurring Engineering (NRE) Estimated $150-250M of NRE in Current RFI/RFQ Pipeline Multiple types of pre-production services: Application engineering (integration) Hardware modifications Software modifications ● Change requests Various testing, validation & qualification services Can be recognized as revenue or a contra-expense, but either way, it's a cash payment received from a customer 15#16Strong Momentum on Multiple Fronts INNOVIZ TECHNOLOGIES Shipped production units for first generation BMW Upgraded ASIC unlocks increased features and functionality Pipeline remains robust with over half of programs in RFQ stage Launched B-Samples for second generation development program at BMW Al powered tools enable a growing lead in software Growth drives NRE and samples that can generate meaningful pre- production revenues Expanding our product offering with development of compute module and MRM Light commercial vehicle program units shipped and expected to grow in 2H23 Raised 2023 financial targets in conjunction with growing commercial momentum ⒸInnoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. 16#17INNO VIZ TM TECHNOLOGIES Ⓒ Innoviz Technologies Ltd. 2023 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. Upcoming IR Calendar August 9-10 J.P. Morgan 2023 Auto Conference, NYC August 22-23 3rd Annual Needham SemiCap and EDA 1x1 Conference, Virtual September 6-8 Citi's 2023 Global Technology Conference, NYC September 11-13 Jefferies Israel Tech Trek Conference Contact [email protected] 17#18Thank You! O INNOVIZ TECHNOLOGIES