#1Markforged Industrial Production at the Point of Need Massive opportunity today as manufacturers seek more resilient supply chains Second Quarter 2023 Earnings Call Supporting Slides Investor Presentation www#22 Disclaimer Forward-Looking Statements. This presentation (the "Presentation") contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: "may." "will," "could," "would," "should," "expect," "intend," "plan," "strategy," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "opportunity" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although Markforged believes that it has a reasonable basis for each forward-looking statement contained in this Presentation, Markforged cautions you that these statements are based on a combination of facts and factors currently known by it and its projections of the future, about which it cannot be certain. Forward-looking statements in this Presentation include, but are not limited to,future growth rate, revenue, gross profit margin and earnings guidance; timing for achieving profitability; our ability to fulfill orders for our products in a timely fashion in the future; expected growth, the size of and opportunity to increase our addressable market; the anticipated benefits of the acquisition of Teton Simulation and Digital Metal, the timing of the launches of and the rate and extent of adoption of our products, including, but not limited to, our most recently introduced products; market trends in the manufacturing industry; the effects of macroeconomic factors; and the benefits to consumers, functionality and applications of Markforged's products. Markforged cannot assure you that the forward-looking statements in this Presentation will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, general economic, political and business conditions; the ability of Markforged to maintain its listing on the New York Stock Exchange; the effect of COVID-19 on Markforged's business and financial results; the outcome of any legal proceedings against Markforged; and those factors discussed under the header "Risk Factors" in Markforged's most recent periodic and other filings with the SEC. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that Markforged will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this Presentation represent Markforged's views as of the date of this Presentation. Markforged anticipates that subsequent events and developments will cause its views to change. However, while Markforged may elect to update these forward-looking statements at some point in the future, Markforged has no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing Markforged's views as of any date subsequent to the date of this Presentation. Market and Industry Data. Certain information contained in this Presentation relates to or is based on publications, surveys and the Company's own internal estimates and research. In addition, all of the market data included in this Presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while the Company believes its internal research is reliable, such research has not been verified by any independent source. Use of Non-GAAP Financial Metrics. This Presentation includes the non-GAAP financial measures of non-GAAP gross profit margin, and guidance for non-GAAP financial measures of non-GAAP gross margin, non-GAAP operating loss and non-GAAP earnings per share. These non-GAAP measures are an addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of historical non-GAAP measures to their most directly comparable GAAP counterparts are included in the Appendix to this presentation. Markforged believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about Markforged. Markforged's management uses forward-looking non-GAAP measures to evaluate Markforged's projected financials and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures, including that they exclude significant expenses that are required by GAAP to be recorded in Markforged's financial measures. In addition, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore, Markforged's non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Markforged#33 Manufacturing Has Changed. Press Print. Print Inflection point is driving onshoring for more resilient and flexible supply chains. Markforged#4Building resilient and flexible manufacturing - the $43B* opportunity available today Keeping the factory running with on demand part production at the point of need Target Metal Applications $43B TAM* 01 Manufacturing Line Support 4 02 Machinery & Automation 03 Aerospace & Defense ... *Market segment size data aggregated from Grandview Research, Allied Market Research, Fortune BI, Verified Research, and Imarc Group: TAMs based on share of part spend justifiable for printing using Markforged technology per customer interviews, workshops, and AoZora Consulting analysis. **Total Manufacturing market size data per Kearney. $24B* Manufacturing Line Support $17B* Machinery & Automation $2B* Aerospace & Defense $12T** Global Manufacturing Market Markforged#5Markforged's platform, The Digital Forge brings resiliency to thousands of manufacturing floors today The Digital Forge is the reliable, easy-to-use and intelligent Additive Platform 5 Manetorge Software Easy-to-use software and advanced SaaS modules increase additive adoption at scale. Gets smarter with every print. ONYX Materials The Digital Forge Wide range of applications across 28 proprietary metals and composites to answer mission critical manufacturing applications. Metal & Composite Printers 11 printers and sintering furnaces, which build strong end-use parts at the point of need Markforged Markforged#6Our Flywheel Drives Utilization and Reliability The Digital Forge continuously improves through over-the-air updates 6 Consistent Improvement Federated fleet learning combined with real-time part corrections create a reliable and repeatable production process Better parts More customers Up Markforged Printers get smarter Grow Expertise at the Speed of Global Production New printers are added to network to scale manufacturing capacity More part data Part Prep and Fleet Management Simulation enables pre print strength testing. Devices are constantly streaming back data on parts and performance. Part Scanning and Industrial IOT Drives Al-powered part quality improvements across entire fleet Markforged#7Our Customers are Leading the Charge. MANUFACTURING LINE SUPPORT Customer: Vestas Application: Inspection gauges & end use parts "The Digital Forge has given us a powerful platform to circumvent expensive, multi step and time consuming conventional manufacturing." FLEET EXPANSION: 22X OVER 5 YEARS *The performance data and client examples cited are presented for illustrative purposes only. Actual performance results may vary depending on configurations and operating conditions 7 MACHINERY & AUTOMATION Customer: Dixon Application: Tooling & fixtures "Markforged is a critical company and a critical component, it is really changing the way we work to make way for this groundbreaking product." FLEET EXPANSION: 6X OVER 5 YEARS WITH 6000 UNIQUE PARTS MNOHOS 20-1220 AEROSPACE & DEFENSE Customer: Sidus Application: End use satellite parts "It just always works. It never stops working. It never breaks down and it makes perfect parts. And I love it. I can't get enough of the machine." FLEET EXPANSION: 3X TO REACH FLIGHT READY Markforged#8A Strong Pathway to Achieve Profitable Growth. 8 50%+ Revenue CAGR 2015-2022 Growing demand for point of need production KAR 50% 2022 GAAP Gross Margin Focus on mission critical applications drives premium value 30%+ Recurring Revenue of Total Sales Flywheel drives increasing utilization Markforged#9Patented Continuous Fiber Reinforcement (CFR) technology enables customers to replace metal with our solution Part printed without CFR 9 CFR routed through part *Markforged internal test results as of December 2020 ABS Plastic Markforged Onyx Aluminum (Aircraft Grade 6061) Markforged CFR 0 200 Tensile Strength (MPa) 400 600 CFR is 25x stronger than ABS plastic and 2-3x stronger than aluminum 800 1000 Markforged#10Proven Manufacturing Portfolio, Expanding TAM through Innovation 10 2016 Mark Two ADVANCED COMPOSITES The easiest and efficient way to replace metal parts with advanced composites. 2018 X7 ADVANCED COMPOSITES Industrial and smart continuous fiber reinforcement 3D printer for real manufacturing applications. 2018 Metal X METAL End to end metal 3D printer for functional metal parts. 2022 FX20 ADVANCED COMPOSITES Our Production Beast. Large scale, precise continuous fiber 3D Printer for high-temp materials. Markforged 2023 PX100 METAL A step change in metal binder jetting enabling high volume production of precise metal parts for reliable industrial production. Markforged#11Solving Metal Problems for the World's Leading Companies сник BOSCH ABB FANUC Schneider YASKAWA KUKA Industrial Automation Replacing traditional infrastructure. 11 AIRBUS Raytheon Technolus SPACEX LOCKNEED MARTIN BLUE ORIGIN Aerospace Industry 4 Flying on military aircraft and orbiting the International Space Station. U.S.ARMY NAVY MARINES U.S. AIR FORCE Military & Defense Supporting troops in combat zones. Note: Select customers included. Not inclusive of entire customer base. Use of logos does not imply endorsement gm TOYOTA HONDA TESLA Ford PORSCHE Automotive Industry Enabling vehicle production. N REGENERON Alcon DAIMLER Healthcare & Medical Protecting lives with critical medical equipment. P RIT Stanford University PURDUE UNIVERSITY. Research Institutions Building brand loyalty with the next generation of engineers. Markforged#12Enabling better solutions for oil, maritime, and defense industries. Customer Story: SQP Engineering SQP Engineering, an industrial manufacturing solutions provider in Perth, Australia. 12 40 SQP Engineering Markforged Products: FX20 and Metal X When SQP Engineering faced challenges producing a wireline counter cover for mining equipment systems, they turned to the Markforged FX20 composite 3D printer, which reduced the print time and improved the surface finish. SQP utilizes the Markforged FX20 and Metal X system to produce production-grade parts that are cost-effective and have quick turnaround times, expanding their capabilities in various industries. Markforged#13Experienced & Visionary Management Team to Drive Us Forward 13 Shai Terem President & CEO Komnit Digital bonding mothers stratasys Morgan Stanley Stephen Karp General Counsel aspentech IBM PHASE FORWARD Rustin Dring President, Americas ENERPAC Assaf Zipori Acting Chief Financial Officer a.amdocs NCR Component control Kara Weiner SVP, Operations stratasys 3M Ved Narayan President, APAC NEWFORMA SYSTEMES onshape Dorit Liberman Chief Human Resources Officer Kornit Digital ENERPAC 3M John Howard SVP, Engineering amazon Lab126 intuity MEDICAL Martin Krona President, EMEA Telit SIERRA WIRELESS ASEMTECH COMPAN Andrew Hally Chief Marketing Officer bynder Bullhorn unica Markforged#14Financial Summary Growth Strategy on Plan, While Building Operational Efficiencies 14 We continued to execute on our growth strategy, with record Q2 revenues of $25.4M, increasing 5% year-over-year and largest pipeline in our company's history. Demand for the Digital Forge continued to grow globally in Q2, even in the face of the high cost of capital environment which is restricting capital expense investments. The FX20 is exciting customers globally within industrial and high-regulated markets like aerospace and automotive. Coupled with the growing order pipeline for our newest metal binder jetting solution, the PX100, we believe our future growth prospects are bright. Non-GAAP 2023 gross margins will end up in the mid to upper range of our prior guidance of 47% -49%, and gradually expand to historical levels that are above 50% in 2024. We remain laser focused on margin expansion and driving profitable growth, and our financial strength is in our balance sheet where we exited Q2 with $136.0M in cash, cash equivalents, and short-term investments and no debt. We have plans for multiple new product introductions in the second half of 2023 which further enhance our current platform and should contribute to accelerating growth in 2024. 2023 Non-GAAP Guidance* Revenue** Gross Margin Operating Loss EPS $101.0 -110.0M 47.0 - 49.0% ($54.0-57.0M) ($0.25-0.27) *We currently intend that non-GAAP reporting will exclude share-based compensation, other income, and other non-recurring. unusual and infrequent charges from our GAAP results. **2023 Revenue guidance is on a GAAP basis. As provided in the Company's second quarter and year earnings conference call on August 10, 2023. Markforged#15Reconciliation of GAAP to Non-GAAP Measures (in Thousands) (Unaudited) Revenue Cost of revenue Gross profit Operating expenses Sales and marketing Research and development General and administrative Total operating expenses Loss from operations Change in fair value of warrant liabilities Change in fair value of contingent earnout liability Other expense Interest expense Interest income Profit (loss) before income taxes Income tax (benefit) expense Net profit (loss) Weighted average shares outstanding - basic Weighted average shares outstanding - diluted Net profit (loss) per share - basic Net profit (loss) per share - diluted 15 $ $ $ GAAP Three Months Ended June 30, 2023 Adjustments 25,449 13,476 11,973 9,666 10,286 12,120 32,072 (20,099) 125 (817) (16) (116) 1,577 (19,346) (358) (18,988) 196,372,157 196,372,157 (0.10) (0.10) (307) 307 (535) (1,160) (3,754) (5,449) 5,756 (125) 817 6,448 6,448 $ $ Non-GAAP* $ 25,449 13,169 12,280 9,131 9,126 8,366 26,623 (14,343) (16) (116) 1,577 (12,898) (358) (12,540) 196,372,157 196,372,157 (0.06) (0.06) $ $ $ GAAP Three Months Ended June 30, 2022 Adjustments 24,227 11,302 12,925 12,873 10,387 13,478 36,738 (23,813) 976 26,742 (171) (9) 354 4,079 4 4,075 188,102,342 188,876,763 0.02 0.02 (107) 107 (775) (1,572) (4,400) (6,747) 6,854 (976) (26,742) (20,864) (20,864) $ Non-GAAP* $ $ 24,227 11,195 13,032 12,098 8,815 9,078 29,991 (16,959) (171) (9) 354 (16,785) 4 (16,789) 188,102,342 188,876,763 (0.09) (0.09)#16Markforged