#1TM INNOVIZ TECHNOLOGIES Enabling the Autonomous Vehicle Revolution Investor Presentation December 2020#2Disclaimer This presentation (this "Presentation") is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Innoviz Technologies Ltd. ("the "Company" or "Innoviz") and Collective Growth Corporation ("Collective Growth") and related transactions (the "Proposed Business Combination") and for no other purpose. No representations or warranties, express or implied are given in, or respect of, this Presentation. To the fullest extent permitted by law, in no circumstances will Innoviz, Collective Growth, Antara Capital LP or any of their respective subsidiaries, stockholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. This Presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of Innoviz or the Proposed Business Combination. Viewers of this Presentation should each make their own evaluation of Innoviz and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. Forward-Looking Statements This Presentation contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Innoviz and Collective Growth, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the services offered by Innoviz and the markets in which it operates, and Innoviz's projected future results. 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. Many factors could cause actual future events to differ materially from the forward-looking statements in this Presentation, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Collective Growth's securities, (ii) the risk that the transaction may not be completed by Collective Growth's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Collective Growth, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the business combination agreement by the shareholders of Collective Growth and Innoviz, the satisfaction of the minimum trust account amount following redemptions by Collective Growth's public shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement, (vi) the effect of the announcement or pendency of the transaction on Innoviz's business relationships, performance, and business generally, (vii) risks that the proposed transaction disrupts current plans of Innoviz and potential difficulties in Innoviz employee retention as a result of the proposed transaction, (viii) the outcome of any legal proceedings that may be instituted against Innoviz or against Collective Growth related to the business combination agreement or the proposed transaction, (ix) the ability of Innoviz to list its ordinary shares on the Nasdaq, (x) the price of Innoviz's securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Innoviz plans to operate, variations in performance across competitors, changes in laws and regulations affecting Innoviz's business and changes in the combined capital structure, and (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Collective Growth's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other documents filed by Collective Growth from time to time with the U.S. Securities and Exchange Commission (the "SEC") and the registration statement on Form F-4 and proxy statement/prospectus discussed below. 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. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz and Collective Growth assume 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. Neither Innoviz nor Collective Growth gives any assurance that either Innoviz or Collective Growth will achieve its expectations. Additional Information and Where to Find It This Presentation relates to a proposed transaction between Innoviz and Collective Growth. This Presentation does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Innoviz intends to file a registration statement on Form F-4 that will include a proxy statement of Collective Growth and a prospectus of Innoviz. The proxy statement/prospectus will be sent to all Collective Growth stockholders. Collective Growth and Innoviz also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of Collective Growth are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the registration statement, proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Collective Growth or Innoviz through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Collective Growth may be obtained free of charge from Collective Growth's website at www.collectivegrowthcorp.com or by written request to Collective Growth at Collective Growth Corporation, 1805 West Avenue, Austin, TX 78701 and the documents filed by Innoviz may be obtained free of charge from Innoviz's website www.innoviz.tech or by written request to Innoviz at Innoviz Technologies Ltd., 2 Amal Street, Rosh HaAin, 4809202, Israel. INNOVIZ™ TECHNOLOGIES Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. 2#3Disclaimer Participants in Solicitation Collective Growth and Innoviz and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Collective Growth's stockholders in connection with the proposed transaction. Information about Collective Growth's directors and executive officers and their ownership of Collective Growth's securities is set forth in Collective Growth's filings with the SEC, including Collective Growth's final prospectus filed with the SEC on May 1, 2020. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction. You may obtain a free copy of these documents as described in the preceding paragraph. Industry and Market Data This presentation has been prepared by Innoviz and Collective Growth and includes market data and other statistical information from sources believed by Innoviz and Collective to be reliable, including independent industry publications, governmental publications or other published independent sources. Some data is also based on the good faith estimates of Innoviz or Collective Growth, which in each case are derived from its review of internal sources as well as the independent sources described above. Although Innoviz and Collective Growth believe these sources are reliable, Innoviz and Collective Growth have not independently verified the information and cannot guarantee its accuracy and completeness. Antara Capital LP has not made any verification of the market data and other statistical information included in this presentation. Financial Information; Non-GAAP Financial Measures The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in the registration statement to be filed by Innoviz with the SEC and the proxy statement/prospectus contained therein. Some of the financial information and data contained in this Presentation, such as EBITDA and free cash flow, has not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). Innoviz and Collective Growth believe these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Innoviz's financial condition and results of operations. Innoviz's management uses these non-GAAP measure for trend analyses and for budgeting and planning purposes. Innoviz and Collective Growth believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in comparing Innoviz's financial condition and results of operations with other similar companies, many of which present similar non- GAAP financial measures to investors. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Innoviz's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded and included in determining these non-GAAP financial measures. In order to compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. You should review Innoviz's audited financial statements, which will be included in the registration statement. No Offer or Solicitation This Presentation shall 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 jurisdiction 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 the U.S. Securities Act of 1933, as amended. Use of Projections Any financial information or projections in this Presentation are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Innoviz's and Collective Growth's control. While such information and projections are necessarily speculative, Innoviz and Collective Growth believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of financial information or projections in this Presentation should not be regarded as an indication that Innoviz or Collective Growth, or their respective representatives and advisors, considered or consider the information or projections to be a reliable prediction of future events. This Presentation is not intended to be all-inclusive or to contain all the information that a person may desire in considering in an investment in Innoviz or Collective Growth and is not intended to form the basis of an investment decision in either company. All subsequent written and oral forward-looking statements concerning Innoviz and Collective Growth, the proposed transactions or other matters and attributable to Innoviz and Collective Growth or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Trademarks This Presentation contains trademarks, service marks, trade names and copyrights of Innoviz, Collective Growth and other companies, which are the property of their respective owners. INNOVIZ TECHNOLOGIES Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. 3#4The Innoviz Team Making the Impossible Possible Omer Keilaf Co-founder & Chief Executive Officer Oren Rosenzweig Co-founder & Chief Business Officer Oren Buskila Co-founder & Chief R&D Officer Eldar Cegla Chief Financial Officer INNOVIZ™ TECHNOLOGIES 20+ years of experience in developing complex technologies > Previously held senior management roles in start-ups, and led complex R&D projects > > Former senior officer in the Elite Technological Unit of the Intelligence Corps ("Unit 81”) BSc and MSc in Electrical Engineering and MBA from Tel Aviv University > > 20+ years at the intersection of Advanced Technologies, Products and Business Previously served as a consultant with the Boston Consulting Group advising leading technology companies Former senior officer in the Elite Technological Unit of the Intelligence Corps ("Unit 81") > BSc in Electrical Engineering from the Technion and MBA from the University of Chicago > > > Previously held senior management roles in start-ups > Former senior officer in the Elite Technological Unit of the Intelligence Corps ("Unit 81") > BSc in Physics, BSc in Electrical Engineering, MSc in Electro-optical Engineering and MBA from Tel Aviv University 20+ years of senior management roles in various high tech companies > Extensive experience in equity- and debt-financing and managing Finance & Operations departments in technology companies > BSc in Chemistry (Cum Laude) from Tel Aviv University > Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner.#5Antara Capital, Perception Capital Partners and Collective Growth Corp. Antara Capital Himanshu Gulati Founder and Chief Investment Officer Perception Capital Partners Scott Honour Chairman James Sheridan Chief Executive Officer Collective Growth Corp. Bruce Linton Chief Executive Officer INNOVIZ™ TECHNOLOGIES > Founder and CIO, Antara Capital LP, an event driven credit and special situations hedge fund, with over $1 billion of AUM > Antara takes a partnership approach with management teams to create shareholder value, and has provided creative financing solutions to a number of advanced stage technology companies > Mr. Gulati has over 18 years of experience as an investment professional specializing in underappreciated assets and complex capital structures in public markets > BA in Management with a concentration in Finance from Binghamton University > 30 years of experience in investing in technology companies Managing Partner of Northern Pacific Group. Former Senior Managing Director at The Gores Group and investment banker at UBS Warburg and Donaldson, Lufkin & Jenrette > > BS/BA in Business Administration/Economics from Pepperdine University and MBA from The Wharton School of the University of Pennsylvania 25 years of operating experience with automotive industry focus > Held senior procurement positions at Ford Motor Company and led multiple purchasing transformations while at McKinsey > BA in Economics from the College of the Holy Cross and MBA from Carnegie Mellon University > > Founder and former Chairman of Canopy Growth Corporation, where he led over 31 acquisitions and $6 bn of capital raises > Former CEO and current Co-Chairman of the Board of communications company Martello Technologies Corporation > Holds a Bachelor's Degree from Carleton University Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. LO 5#6Transaction Overview Transaction Structure Valuation & Financing > Innoviz to become publicly listed through business combination with Collective Growth Corporation (NASDAQ: CGRO) in a transaction sponsored by Antara Capital LP and Perception Capital Partners LLC > CGRO is a publicly listed special purpose acquisition company with over $150m cash held in trust > Following the targeted closing of the transaction in the first quarter of 2021, the combined company is expected to be listed on NASDAQ under the ticker symbol "INVZ" > Innoviz existing shareholders would retain 100% of their equity > Innoviz existing shareholders and management would own c.71% of the combined entity post-closing › Pro forma enterprise value of ~$1.0 billion, implying a 1.8x EV / 2025E revenue multiple, an attractive valuation versus peer averages > Transaction is expected to provide up to $350 million in gross proceeds comprised of: > CGRO's $150m of cash held in trust, assuming no redemption by public shareholders > $200 million fully committed ordinary share PIPE at $10.00 per share, led by Antara Capital and includes strategic investments from Magna International, Innoviz's Tier-1 partner, Phoenix Insurance and other institutional investors › Pro forma for the transaction, Innoviz is expected to have c.$370m cash on balance sheet > No additional capital is expected to be required between now and achieving positive cash flow INNOVIZ™ TECHNOLOGIES O Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. 6#7Company Overview INNOVIZ TECHNOLOGIES TM#8Innoviz at a Glance Series A Founded $9 Million 2016 InnovizOne Announced Global Presence c. 280 Employees Tier 1 Partnership INNOVIZ™ TECHNOLOGIES MAGNA 2017 ● APTIV. Tier 1 Partnership $251 Million Capital Raised MAGNA magma APTIV. Series B $73 Million SAMSUNG Selection by BMW for Series Production SoftBank Korea vertex VENTURES E DELEK MOTORS M W 2018 Tier 1 Partnership InnovizOne TECHNOLOGIES Unique Offering FANOVEN PERCEPTION Perception 2019 SAMSUNG HARMAN Tier 1 Partnership Series C $169 Million e Partnerships with Tier 1 Companies and OEM Partners MAGNA APTIV. FECHNOLOGIES HIRAIN M 2020 W C Samples Production Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. InnovizTwo Announced HARMAN 8#9Innoviz Was Built Around the Values of "Unit 81" Unit 81 is Israel's most elite technology unit in the Israeli Defense Forces > Complex technology across multi-disciplinary fields > Uncompromising level of reliability > Unit 81 values of excellence, quality and speed are core to Innoviz > "Making the Impossible Possible" Dozens of companies started by alumni of Unit 81 RAD CERAGON XIV етого solaredge anobit Pr INNOVIZ™ TECHNOLOGIES PrimeSense PowerDsine ADALLOM Gilat TM Unparalleled Concentration of Unit 81 Talent R&D 72% Omer Keilaf Co-founder, Chief Executive Officer c.280 Employees Oren Buskila Co-founder, Chief R&D Officer 25% of Innoviz's R&D Force are alumni of Unit 81 R&D S&M G&A ■Operations Oren Rosenzweig Co-founder, Chief Business Officer 1920 David Elooz Chief Photonics Officer Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. (4)#10Innoviz Was First To Win An OEM Production Contract For L3 LIDAR Awarded BMW Series Production Program for multiple vehicle lines B INNOVIZ™ TECHNOLOGIES M W + MAGNA + INNOVIZ TECHNOLOGIES > Multi-year development › Hundreds of millions of dollars spent >Hundreds of top engineers › Tens of millions of kilometers driven for validation > Only selected OEMs are able to go through such a long and rigorous process TM Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. 10#11However, Level 2+ is the Largest Opportunity in the Next 10 Years Vehicles (in millions)¹ 1 2020E 2021E Level2 PARTLY AUTOMATED 12 million L2 and 3 million L3 vehicles by 2025 HANDS TEMP. OFF EYES TEMP. OFF 2022E INNOVIZ™ TECHNOLOGIES 3 7 6 2023E 1 12 2024E Level3 HANDS OFF, EYES OFF HIGHLY AUTOMATED 12 17 3 12 2025E ¹ Source: Company analysis; IHS Markit; Frost & Sullivan: LIDAR for Automotive and Industrial Applications report; Yole Développement, 2020 Note: Level 2+ ("L2+"), Level 3 (“L3”). N 21 3 4 15 2026E 27 6 Level4 4 17 2027E HANDS OFF, MIND OFF FULLY AUTOMATED 32 9 4 19 2028E 38 12 22 2029E Level5 PASSENGER AUTONOMOUS Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. 44 16 3 26 2030E 11#12But L2+ is Still Not Safe... Will not scale without solving serious safety issues first A LIDAR would have prevented this accident¹ Direct sun ¹ Illustrative LIDAR image recreation of the incident's camera image. INNOVIZ™ TECHNOLOGIES Rain Truck not detected due to saturated camera¹ Dark Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. 12#13Innoviz's L3 Technology is Also Affordable for L2+ B M W Current InnovizOne > 0.1°x0.1° (256 Lines) > 115°x25° > Price & Price fit for Level 3-5 INNOVIZ™ TECHNOLOGIES 70% Cost Reduction 20 15 10 5 4 3 Next Generation InnovizTwo > 0.1x0.1° (256 Lines) > 100x25° > Longer Range and Smaller Size > Price & Price fit for Level 2-5 Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No Part of this Document May be Reproduced or Disclosed in Any Manner. 13#14L2+ Transforms Into L3 Through Software Updates Major cost reduction in Innoviz's high-end LiDAR to put market on track towards autonomous driving STEP 1 Safe & Affordable L2+ INNOVIZ™ TECHNOLOGIES STEP 2 Collect Data & Validate STEP 3 Software Upgrade to L3 Ⓒ Innoviz Technologies Ltd. 2020 All Rights Reserved - Proprietary & Confidential. No part of this document may be reproduced or disclosed in any manner. 14