#1☐ SmartRent Next-Level Smart™ (R) 9:41 Hello Michael, Welcome Home Scenes Morning Investor Overview November 2023 Lock NYSE: SMRT Night Home Away Front Door ... Locked Unlock Thermostat Inside 75° | Humidity 45% Heating to 77° 77° Mode Fan Away Bedroom Light ... On Dashboard Smart Home Access Community More Villa Lago-Venterra BITC#2Forward Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements address our expected future business and financial performance, and may contain words such as "goal," "target," "future," "estimate," "expect," "anticipate," "intend," "plan," "seek," "project," "may," "should," "will," the negative form of these expressions or similar expressions. These statements are based on management's current beliefs, expectations assumptions about future events, conditions and results and on information currently available to us. Although we believe that the expectations reflected in the forward-looking statements reasonable, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, among other things, our ability to: (1) accelerate adoption of our products and services; (2) anticipate the uncertainties inherent in the development of new business lines and business strategies; (3) manage risks associated with our third-party suppliers and manufacturers and partners for our products; (4) manage risks associated with adverse macroeconomic conditions, including inflation, slower growth or recession, barriers to trade, changes to fiscal and monetary policy, tighter credit, higher interest rates, high unemployment, and currency fluctuations; (5) attract, train, and retain effective officers, key employees and directors; (6) develop, design, manufacture, and sell products and services that are differentiated from those of competitors; (7) realize the benefits expected from our acquisitions; (8) acquire or make investments in other businesses, patents, technologies, products or services to grow the business; (9) successfully pursue, defend, resolve or anticipate the outcome of pending or future litigation matters; (10) comply with laws and regulations applicable to our business, including privacy regulations; and (11) maintain key strategic relationships with partners and distributors. The forward-looking statements herein represent the judgment of the Company, as of the date of this release, and SmartRent disclaims any intent or obligation to update forward-looking statements. This press release should be read in conjunction with the information included in the Company's other press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand the Company's reported financial results and our business outlook for future periods. The forward-looking statements herein represent the judgment of the Company as of the date of this presentation, and we disclaim any intent or obligation to update forward-looking statements, unless required by applicable law. This presentation should be reviewed in conjunction with the information included in our press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important to fully understanding our reported results and business outlook for future periods. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size, growth and other data about our industry and our business. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Use of Non-GAAP Financial Measures In addition to disclosing financial results that are determined in accordance with GAAP, SmartRent also discloses certain non-GAAP financial measures in this investor presentation. These financial measures are not recognized measures under GAAP and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Adjusted EBITDA is a non-GAAP financial measures as defined by SEC rules. This non-GAAP financial measure, as defined below by SmartRent, may be determined or calculated differently by other companies. A reconciliation of this non-GAAP measurement to the most directly comparable GAAP financial measurement has been provided in this investor presentation, and investors are encouraged to review the reconciliation. As detailed in the reconciliation, the GAAP measure most directly comparable to Adjusted EBITDA is net income or loss. Adjusted EBITDA is not used as a measure of SmartRent's liquidity and should not be considered as an alternative to net income or loss or any other measure of financial performance presented in accordance with GAAP. SmartRent's management uses Adjusted EBITDA in a number of ways to assess the Company's financial and operating performance and believes that this measures provides useful information to investors regarding financial and business trends related to SmartRent's results of operations. Adjusted EBITDA is also used to identify certain expenses and make decisions designed to help SmartRent meet its current financial goals and optimize its financial performance, while neutralizing the impact. of expenses included in its operating results which could otherwise mask underlying trends in its business. SmartRent's management believes that investors are provided with a more meaningful understanding of SmartRent's ongoing operating. performance when non-GAAP financial information is viewed with GAAP financial information. 2 ☐ SmartRentⓇ#3SmartRent Highlights 1. Leading Smart Home Technology Provider to the Rental Housing Market (owners & operators) 2. Largest Operators in the Industry Leverage SmartRent 3. Large and Underpenetrated Market (Community WiFi Dramatically Expands Market Opportunity) 4. Broadest Combination of Hardware & SaaS Solutions (Only End-to-End Open-API Platform) 5. Strong Investment Returns for Customers on Existing and New Offerings 6. Rapid Revenue Growth with Pathway to Breakeven 7. Strong Balance Sheet (Further Enhanced with ADI Agreement) 3 11:381 X My Residence My Access This is your personal code for your home. Enter this code on the PIN pad and press the button to unlock. 4513 5G SmartRentⓇ#41. Leading Smart Home Technology Provider to the Rental Housing Market (owners & operators) + More deployed units than all other providers combined YO 680K+ Units Deployed 3,800+ Apartment Communities 4 2. Largest Operators in the Industry Leverage SmartRent +15 of the 20 largest owners & operators are current SmartRent customers 33 500+ Customers (Owners and Operators) 200 15 of 20 Top Owners Choose SmartRent SmartRentⓇ#52. Largest Operators in the Industry Leverage SmartRent (Continued) Illustrative Sales Cycle & Portfolio Rollouts + Portfolio-wide rollouts represent a significant organic growth opportunity 1 0.9 0.8 0.7 0.6 Aimco UDR portfolio rollout December '18 portfolio rollout September '18 0.5 UDR pilot 0.4 July '18 0.3 Aimco pilot May '18 0.2 MAA pilot June '19 0.1 Essex pilot September '19 Venterra portfolio rollout October '20 Venterra Pilot March '20 | | MAA portfolio rollout March '20 Essex portfolio rollout June '21 99% 99% Aimco APARTMENT HOMES. 0 Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4'19 Q1'20 Q2 '20 Q3 '20 Q4'20 Q1'21 Q2'21 Q3 '21 Q4'21 Q1'22 Q2'22 Q3 '22 Q4'22 Source: Company Data as of 03/31/2023 AIR (Apartments Income REIT Corp.) was spun-off from Aimco in December 2020. Portfolio roll out represents AIR and Aimco combined units 5 98% ESSEX 95% 94% VENTERRA MAA + The chart represents portfolio rollouts of five customers Q1'23 + SmartRent has over 500 customers with 6.9 million units as of Sept. 30, 2023, representing a significant organic growth opportunity ☐ SmartRentⓇ#62. Largest Operators in the Industry Leverage SmartRent (Continued) + Large opportunity to deploy with our existing customers MAA ESSEX Equity Residential STARWOOD CAPITAL GROUP EDWARD ROSE & SONS 100 YEARS | 1921-2021 GREYSTAR TM CORTLAND } 6.9M US Units Owned or Controlled by Our 500+ Customers 10X Unit Growth Opportunity with Our Existing Customers (Currently Deployed 683K) 3. Large and Underpenetrated Market (Community WiFi Dramatically Expands Market Opportunity) + Over 90% of SmartRent revenues are generated by retrofit vs. new construction malai 44M Number of US Professionally Managed Rental Units Less Than 3% Penetration of Smart Technology into Professionally Managed Rental Units 6 ☐ SmartRentⓇ#77 3. Large and Underpenetrated Market (Community WiFi Dramatically Expands Market Opportunity - Continued) Community WiFi | New Large Market Unit Economics - based on 200 Unit Apartment Community ر رده ☑ Unit Economics (200 Unit Apartment) $250 - $300K Cash Expense to Deploy WiFi WiFi Per Unit 2 $ Per $70 Unit Cost Monthly Revenues ↑ 20% IRR for REIT/Mgmt Co $10-15 Resident SmartRent Monthly Revenues + SmartRent is the only company offering a total solution to the multifamily market + The majority of our customers are looking to deploy their own WiFi vs. working with traditional ISPs. + Expect strong growth in 2025 from WiFi due to long lead and deployment cycles ◆ SmartRentⓇ#84. Broadest Combination of Hardware & SaaS Solutions (Only End-to-End Open-API Platform) Smart Community Features Community WiFi ARPU $10-$15 Management² Work ARPU $1-$3 Asset Protection1 Answer Automation² Audit Management² Smart Package Room² ARPU $2-$3 1 - Smart Home 2- Work Management Resident App¹ 77 Smart Home¹ ARPU $7-$15 117 174 Access Control1 Video Intercom1 ARPU $1-$2 8 Inspection Management¹ Self-Guided Tours² ARPU $1-$2 Parking Management² ARPU $1-$2 SmartRentⓇ D#94. Broadest Combination of Hardware & SaaS Solutions (Only End-to-End Open-API Platform - Continued) Standard Smart Home Package ALLOY Alloy Hub+ Upgrades ALLOY S 3 75 6 7 B 9 0 ים ALLOY Snartrone Mode Honeywell 630 78 78 Menu Fan Flexible Technology Solution 30 72 N༔ SCHLAGE Yale YRD652 Lock Alloy Leak Sensor Honeywell T6 Pro Thermostat LoRa/WiFi Leak Detector Honeywell WiFi Schlage BLE Salto BLE ALLOY SmartHome ring ALLOY SmartHome Motion Sensor Contact Sensor Voice Assistants Switch / Dimmer Video Doorbells Smart Plug Shades Fusion Hub Good Morning 55 95 ALLOY Imortisme Self-guided Tours Bowery Lofts tolochome Welcome, Jordan! 2533-37 time for your Set Tud When you ample 234 at the sped art pa 4 to stars but 9 8 2 3 Pared by tur 6 4 5 Information as of September 30, 2023. Source: SmartRent SEC filings. 9 Access Control ALLOT ALLOY Your Passes ALLOY Smart Intercom 10011 Abuvox 12:34 Akuvox 0-0 Cal Gocontrol Garage Doors Managed WiFi & Parking GENI ◆ SmartRent#105. Strong Investment Returns for Customers on Existing and New Offerings Operational Efficiencies 10 20-30%* Savings on Utilities + Reach Centralization Goals + + Self-Guided Tours to Optimize Showing Hours + Automate Work Order Creation with Integrated PMS + Operate in One Platform for a Fully Integrated Ecosystem Automated Documentation + Reduce Resident/Site Team Onboarding Costs + Built in Communication Channels + Reduced Vacancy Loss Through Increased Turn Times Asset Protection 70-90% * Decrease in Water Damage Expenses + Automate Alerts + Preventative Maintenance Tracking + Helps Owners/Operators Meet Decarbonization Goals + Track Fixed Assets + Leak Detection/Lower Insurance Premiums + Enhanced Capital Improvement Assessment + Vacant Unit Management Revenue Generation ~20% IRR $30 - $60* Rent Increase per Unit/Month 3-Year Period + Ancillary Monetization Opportunities + Accelerate Leasing Velocity + Increase Resident Retention/Premium Rental Rates Source: Data based on customer feedback through 2022. SmartRent#116. Rapid Revenue Growth with Pathway to Breakeven + 40%+ revenue growth at the midpoint of 2023 guidance $235 - $240M 41% Revenue Growth Year over Year (mid-point of guidance) $43.3M SaaS ARR end of Q3 2023, up 12% sequentially 11 + Adjusted EBITDA profitability by year end 2023 and cash flow breakeven within the following six months 23.3% Overall Gross Margins in Q3 2023 - an increase from 2.5% in Q3 2022 $0 - $2M Q4 Guidance for Adjusted EBITDA vs. Q4 2022 of ($14.1)M SmartRentⓇ#127. Strong Balance Sheet (Further Enhanced with Distribution Agreement) 冚 $211M 12 Preferred Agreement with ADI Global Distribution Q3 2023 Inventory $47.5M H Cash position as of Q3 2023 Less inventory = More Cash $14M Cash increase in Q3 2023 vs Q2 20233 primarily from lower inventory (ADI did not contribute in Q3) + Benefits our cash position. + Enhances our ability to scale while optimizing our working capital SmartRentⓇ#1313 Appendix HEATHAND SmartRent#14TTM Consolidated Balance Sheet (Unaudited, $ in thousands, except per share amounts) 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022 Cash and cash equivalents Accounts receivable, net Inventory Total current assets Goodwill and intangible assets, net Total assets 69 211,000 $ 196,970 $ 203,933 $ 210,409 $ 210,112 63,546 60,032 59,069 62,442 64,085 47,521 60,506 66,853 75,725 61,258 344,116 346,205 357,494 378,356 363,542 145,485 146,453 147,422 148,391 150,057 515,597 521,481 536,340 560,845 551,138 Deferred revenue, current portion 93,445 92,866 88,459 80,020 63,840 Total current liabilities 123,611 120,573 123,375 132,776 97,836 Deferred revenue, long-term portion 44,134 49,970 54,510 59,928 64,329 Total liabilities 172,345 174,276 181,723 196,645 169,269 Total stockholders' equity (including convertible preferred stock) 343,252 347,205 354,617 364,200 381,869 Total liabilities, convertible preferred stock and stockholders' equity 515,597 521,481 536,340 560,845 551,138 14 Note information as of September 30, 2023. Source SmartRent SEC filings. SmartRentⓇ#15TTM Condensed Consolidated Statement of Operations (Unaudited, $ in thousands, except per share amounts) Revenue Hardware Professional services Hosted services Total revenue Cost of revenue Hardware 9/30/2023 6/30/2023 Three months ended 3/31/2023 12/31/2022 9/30/2022 $ 35,631 5,962 $ 27,788 $ 37,325 $ 17,680 $ 26,683 10,050 12,769 8,791 7,478 16,511 15,564 14,985 14,080 13,341 58,104 53,402 65,079 40,551 47,502 27,556 21,990 32,572 15,063 25,417 Professional services 11,130 15,809 17,634 15,879 14,386 Hosted services 5,887 5,720 5,758 5,688 6,516 Total cost of revenue 44.573 43,519 55,964 36,630 46,319 Total operating expense 23,478 21,970 24,409 26,191 27,848 Loss from operations (9,947) (12,087) (15,294) (22,270) (26,665) (7,723) (10,349) (13,215) (21,389) (25,950) Net loss Other comprehensive loss Foreign currency translation adjustment Comprehensive loss Net loss per common share Basic and diluted Weighted-average number of shares used in computing net loss per share Basic and diluted 69 (188) (7,911) (9) (10,358) 104 (13,111) 898 (20,491) (493) (26,443) (0.04) $ (0.05) $ (0.07) (0.11) $ (0.13) 201,584 199,619 198,334 197,011 15 Note information as of September 30, 2023. Source SmartRent SEC filings. 196,486 ◆ SmartRent#16Reconciliation of Non-GAAP Metrics ($ in thousands) Net loss Interest income, net Provision for income taxes Depreciation and amortization EBITDA Stock-based compensation. Compensation expense in connection with acquisitions Severance charges Other non-recurring acquisition expenses Asset impairment Other adjustments Adjusted EBITDA 16 Three months ended 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022 69 (7,723) $ (10,349) $ (13,215) $ (21,389) $ (25,950) (2,233) (1,815) (2,016) (33) 18 (7) 1,395 1,342 (8,594) 3.273 (10,804) 3.276 1,254 (13,984) (1,199) 347 1,386 (20,855) (506) 3,680 3,098 81 1,240 (25,135) 3,272 15 370 1,625 1,592 1,341 317 488 - (23) 226 205 53 405 2,000 69 $ (5,012) $ (6,444) $ (8,474) $ (14,112) $ 2,441 51 (17,625) Note information as of September 30, 2023. Source SmartRent SEC filings. SmartRentⓇ#17Definition of Key Operating Metrics SmartRent regularly monitors several operating and financial metrics to evaluate its operating performance, identify trends affecting its business, formulate business plans, measure its progress, and make strategic decisions. SmartRent's key operating metrics may not provide accurate predictions of future GAAP financial results. Annual Recurring Revenue ("ARR") is defined as the annualized value of our recurring SaaS revenue earned in the current quarter. Bookings represent the dollar value of Units Booked from hubs and other hardware, professional services, as well as one year of SaaS. 17 ◆ SmartRentⓇ#18NYSE: SMRT SmartRent Next-Level SmartTM R IR Contact [email protected]