#1Matterport November 10, 2022 | Third Quarter 2022 Financial Results 1#2Disclaimers Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (including the negative versions of such words or expressions). Forward-looking statements in this presentation generally relate to Matterport's potential and future performance, including its strategic focus, development of new services, adoption or success of new technologies and applications and anticipated results. 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 Matterport's ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities in the industry in which Matterport competes. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport 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. 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 Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations. Use of Projections This presentation contains financial forecasts ("guidance") and other forecasted financial information with respect to certain financial measurements of Matterport, including but not limited to revenue, subscription revenue, and loss per share. Such information constitutes forward-looking information, and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such guidance and such other financial information 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 such guidance and such other financial information. See "Forward-Looking Statements" paragraph above. Accordingly, there can be no assurance that such guidance or such other financial information are indicative of the future performance of Matterport or that actual results will not differ materially from those presented in such guidance or such other financial information. Inclusion of such guidance and such other financial information in this presentation should not be regarded as a representation by any person that the results contained in such guidance or such other financial information will be achieved. Industry and Market Data In this presentation, Matterport relies on and refers to information and statistics regarding the sectors in which Matterport competes and other industry data. Matterport obtained this information and statistics from third-party sources, including reports by market research firms. Although Matterport believes these sources are reliable, Matterport has not independently verified the information and does not guarantee its accuracy and completeness. Matterport has supplemented this information where necessary with information from discussions with Matterport customers and Matterport's own internal estimates, taking into account publicly available information about other industry participants and Matterport's management's best view as to information that is not publicly available. Trademarks and Trade Names Matterport owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its business. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this presentation is not intended in, and does not imply, a relationship with Matterport, or an endorsement or sponsorship by or of Matterport. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that Matterport will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor in these trademarks, service marks and trade names. Non-GAAP Financial Measures Matterport has provided in this presentation certain financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). We believe that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. The presentation of these non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. For further information regarding these non-GAAP measures, including the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, please refer to the "Appendix" section of this presentation. 2#3Recent business highlights Record Q3 total revenue of $38.0 million, up 37% year-over-year, better than guidance Record Q3 subscription revenue of $19.0 million, up 21% year-over-year, better than guidance Record Q3 services revenue of $10.0 million, up 204% year-over-year Non-GAAP loss per share of $0.09, better than guidance Acquired VHT Studios to accelerate adoption of digital twins for real estate Launched all new Pro3 camera with LiDAR plus a reimagined cloud software platform for enterprise Notes: For the definition of non-GAAP loss per share and a reconciliation to their most directly comparable financial measures prepared in accordance with GAAP, please see the appendix. Unaudited Matterport Matterport#4Matterport is the clear market leader in an expanding global market $152M run-rate revenue 26B Sq ft captured 177 countries Paid Subscribers Subscribers (thousands) 50% Growth 439 54 3Q21 657 63 3Q22 Spaces Under Management (millions) 100x Rest of Market 6.2 3Q21 Notes: Run-rate revenue is the annualized value of total revenue for the three months ended September 30, 2022. Spaces Under Management, square feet captured and countries are as of September 30, 2022. Unaudited 8.7 3Q22 4#5Global, Blue Chip Customers Spanning Diverse End Markets 23% of Fortune 1000 are customers Selected Customers WATHA BH FOMESERVIC BERKSHIRE HATHAWAY Home Services 3D APARTMENT Windermere REAL ESTATE * COLDWELL BANKER HEARTLAND. DENTAL- YaleNewHaven Health Yale New Haven Hospital V MVISITINGM E DIA ZAXBY'S HLY e az el T Fannie MaeⓇ 5#6Case Study: Burns & McDonnell helps customer base increase efficiencies and streamline workflows BURNS MCDONNELL Matterport Digital Twin Platform streamlines construction and maintenance projects Utility client eliminated ~250 site visits by using Matterport digital twins of 45 facilities Reduced travel expenses and enabled more efficient work processes "With the help of Burns & McDonnell and Matterport, we've been able to keep the entire infrastructure upgrade project under budget and on schedule." Ron Beck, Senior Network Engineer Central Lincoln People's Utility District 2230 The Central Lincoln People's Utility District O#7Delivering Enterprise class functionality to Fortune 1000 customers Building long term roadmap for Enterprise customers, starting with these foundational elements. Manage tens of thousands of users and spaces from your Matterport Enterprise account, all in Matterport's enhanced, secure cloud. Security, Privacy, and Compliance Soc VE PE = SOC2 compliance and 3rd party audits Encryption in transit and at rest Matterport infrastructure is hosted within a secure enterprise grade environment Single sign-on - powered by SAML 2.0 authentication CCPA, GDPR, and PIPEDA compliance ● Reporting and Audit Logs Audit trail of key account activity Structured business reports of subscription usage and performance Disaster recovery, backup and restoration of accounts User and Space Management ● 8::::8 API connected workflow for space management Private Model Embed - Embed Enterprise spaces into your secure websites and portals Enterprise level support, professional services for implementation 7#8Matterport acquired VHT Studios to accelerate adoption of digital twins for real estate Positions the company closer to customers Matterport TM + VHT™ STUDIOS Digital Twin Leadership Extend Matterport's industry leadership in real estate digital marketing across RRE, plus extensible to CRE, and T&H Beginning to drive greater penetration of Matterport digital twins within VHT's existing customers Opportunity to cross-sell VHT solutions into Matterport's existing customers Extend VHT digital marketing solutions globally 8#9Financial Overview 9#10Subscription and services revenue continue to reach new records Notes: Revenue in millions Unaudited $15.7 3Q21 21% growth $19.0 3Q22 SUBSCRIPTION REVENUE $3.3 3Q21 204% growth SERVICES REVENUE $10.0 3Q22 10#11Subscription revenue continues to grow sequentially each quarter Notes: Revenue in millions Unaudited $16.5 4Q21 $17.1 1Q22 $18.4 2Q22 $19.0 3Q22 $19.0 - $19.2 4Q22 Guidance range 11#12Total revenue grew 37% year-over-year ($000s) Revenue: Subscription License Services Product Total revenue Non-GAAP Gross Margin Subscription License Services Product Total non-GAAP GM% Total non-GAAP operating expenses Non-GAAP loss from operations Non-GAAP net loss Three Months Ended September 30, 2022 2021 18,981 21 10,015 8,976 37,993 72% 100% 35% 13% 48% 46,028 (27,650) (26,923) 15,677 118 3,292 8,568 27,655 77% 100% 33% 23% 55% 28,777 (13,618) (14,032) Notes: Unaudited For the definition of non-GAAP gross margin, loss from operations and net loss and a reconciliation to their most directly comparable financial measures prepared in accordance with GAAP, please see the appendix Subscription revenue grew 21%; 50% of total Services revenue grew 204% Substantial progress in supply chain improved the recovery of product margin and the sustainability of total gross margin Company tapering opex investments 12#13Fortress balance sheet with $495M cash and investments to fuel continued growth Consolidated Balance Sheet Data: Cash and cash equivalents Short-term and long-term investment Restricted cash equivalent Working capital (1) Property and equipment, net Total assets Total liabilities (2) Public and Private Warrants liabilities Contingent earn-out liability Total stockholders' equity (deficit) Notes: Unaudited September 30, 2022 81,852 413,336 489,270 28,555 660,413 52,895 1,691 605,827 December 31, 2021 139,519 528,590 468 404,376 14,118 719,176 34,463 38,974 377,576 268,163 (1) Working capital is defined as current assets less current liabilities (2) Total liabilities do not include public and private warrant liabilities and contingent earn-out liability that are presented at period-end fair market value and listed separately in the table 13#14Guidance for full year and Q4 projects continued steady revenue growth Robust demand for Pro3 camera and continued strong growth of recurring subscription revenue Revenue (in millions) Subscription Revenue (in millions) Non-GAAP loss per share Weighted average fully diluted shares outstanding (in millions) Q4 2022 Guidance $39 - $41 $19.0 – $19.2 ($0.09) - ($0.11) 290 FY 2022 Guidance $134 - $136 $73.5 - $73.7 ($0.41) - ($0.43) 284 14#15Business highlights Massive, unpenetrated $240B+ TAM Market leader fueling the digital transformation of the built world Unrivaled software & data platform with significant expansion opportunities Global, blue chip customers spanning diverse end markets Rapid growth across revenue line items Proven leadership team with large-scale platform experience Notes: As of September 30,, 2022 TAM estimate from Savills World Research and the Company III است >$327T Global Real Estate Assets 20B Spaces Globally <0.1% Digital Penetration 100X Rest of Market in digital twins 26B square feet captured 8.7M digital twins 657K Subscribers 177 Countries 23% of Fortune 1000 Launched all new Pro3 camera New cloud platform for enterprise 3B+ 3D Data Points 37% Total revenue growth 21% Subscription revenue growth 204% Services revenue growth Prior Executive Experience: Apple, Google, Salesforce, Mailchimp 15#16Appendix#17GAAP to Non-GAAP reconciliation - Net Loss and Loss per Share GAAP net loss Stock based compensation expense (1) Acquisition-related costs (2) Transaction cost (3) Amortization expense of acquired intangible assets Change in fair value of common stock warrant liabilities (4) Change in fair value of contingent earn-out liability (5) Non-GAAP net loss GAAP net loss per share attributable to common stockholders, basic and diluted Non-GAAP net loss per share attributable to common stockholders, basic and diluted GAAP weighted-average shares used to compute net loss per share, basic and diluted Adjustment for common stock issued in connection with the Merger (6) Non-GAAP weighted-average shares used to compute net loss per share, basic and diluted (2) (3) (4) (5) (6) Consists primarily of non-cash share-based compensation related to the Company's stock incentive plans and earn-out arrangement Consists of acquisition transaction costs Consists of the transaction costs associated with warrants instrument issuance Three months ended September 30, 2022 (58,259) 30,671 222 443 (26,923) (0.20) (0.09) 286,458 286,458 2021 (167,989) 30,738 565 24,176 98,478 (14,032) (0.86) (0.06) 196,478 29,750 226,228 Represents non-cash fair value measurement change for public and private warrants Represents the non-cash fair-value measurement change related to our earn-out liability Consists of non-GAAP adjustment of unweighted average common stock issued and converted from Matterport, Inc.'s (now known as Matterport Operating, LLC) previously issued and outstanding shares of convertible preferred stock and common stock warrants prior to the completion of the merger Non-GAAP Financial Measures This presentation includes the non-GAAP financial measures non-GAAP net loss and non-GAAP net loss per share, basic and diluted. We define non-GAAP net loss as net loss, adjusted to exclude stock-based compensation expense, acquisition-related costs, transaction costs, amortization of acquired intangible assets, fair value change of warrants liabilities, and fair value change of contingent earn-out liabilities, in order to provide investors and management with greater visibility to the underlying performance of Matterport's recurring core business operations. In order to calculate non-GAAP net loss per share, basic and diluted, we use a non-GAAP weighted-average share count. We define non-GAAP weighted-average shares used to compute non-GAAP net loss per share, basic and diluted, as GAAP weighted average shares used to compute net loss per share attributable to common stockholders, basic and dilutive, adjusted to reflect the shares of Matterport's Class A common stock exchanged for the previously issued and outstanding shares of redeemable convertible preferred stock and common stock warrants of Matterport, Inc. (now known as Matterport Operating, LLC) in connection with the recently completed merger, that are outstanding as of the end of the period as if they were outstanding as of the beginning of the period for comparability. 17#18GAAP to Non-GAAP reconciliation - Gross Margin Non-GAAP gross profit and gross margin: $ in thousands GAAP gross profit and gross margin: Subscription License Services Product Total GAAP gross profit and gross margin Add: Stock based compensation expense Subscription License Services Product Total Non-GAAP Gross profit and gross margin: Subscription License Services Product Total non-GAAP gross profit and gross margin Three months ended 9/30/2022 $ 12,389 65% 21 100% 35% 3,462 519 6% 16,391 43% 1,285 33 669 1,987 GP% 13,674 21 3,495 1,188 18,378 5% 72% 100% 35% 13% 48% 9/30/2021 $ 11,769 75% 100% 25% 17% 51% 118 832 1,462 14,181 229 267 482 978 GP% 11,998 118 1,099 1,944 15,159 4% 77% 100% 33% 23% 55% 18#19GAAP to Non-GAAP reconciliation - Loss from Operations Non-GAAP Reconciliation - Loss from Operations $ in thousands GAAP gross profit and gross margin: Add: Stock based compensation expense Total non-GAAP gross profit and gross margin GAAP research and development expenses Less: Stock based compensation expense Less: Amortization expense of acquired intangible assets Less: Tax impact related to contingent earn-out share issuance Non-GAAP research and development expenses GAAP selling, general and adminstrative expenses Less: Stock based compensation expense Less: Acquisition-related costs Less: Amortization expense of acquired intangible assets Less: Tax impact related to contingent earn-out share issuance Non-GAAP selling, general and adminstrative expenses GAAP loss from operations Add: Stock based compensation expense Add: Acquisition-related costs Add: Amortization expense of acquired intangible assets Add: Tax impact related to contingent earn-out share issuance Non-GAAP loss from operations Three months ended 9/30/2022 16,391 1,987 18,378 19,084 6,453 270 12,361 56,293 22,231 222 173 33,667 (58,986) 30,671 222 443 (27,650) 9/30/2021 14,181 978 15,159 14,484 6,695 7,789 44,053 23,065 20,988 (44,356) 30,738 (13,618) 19