Navitas SPAC Presentation Deck

Risk Factors Related to Navitas (Cont'd) Important Disclosures RISKS RELATED TO NAVITAS' BUSINESS (CONT'D) The failure of Navitas to comply with the large body of laws and regulations to which it is subject or to successfully develop and implement policies, procedures and practices intended to facilitate compliance with such laws and regulations could have a material adverse effect its business and operations. ■ ■ ■ ■ ■ ■ ■ Navitas Navitas is subject to export restrictions and laws affecting trade and investments that could materially and adversely affect its business and results of operations. In order to comply with environmental and occupational health and safety laws and regulations, Navitas may need to modify its activities or incur substantial costs, and such laws and regulations, including any failure to comply with such laws and regulations, could subject Navitas to substantial costs, liabilities, obligations and fines, or require it to have suppliers alter their processes. Conflict minerals and other supply chain diligence and disclosure regulations may force Navitas to incur additional expenses, may result in damage to its business reputation and may adversely impact its ability to conduct its business. Navitas could be adversely affected by violations of applicable anti-corruption laws or violations of its internal policies designed to ensure ethical business practices. Navitas qualifies as an "emerging growth company" within the meaning of the Securities Act of 1933, as amended, and if it takes advantage of certain exemptions from disclosure requirements available to emerging growth companies, it could make its securities less attractive to investors and may make it more difficult to compare its performance to the performance of other public companies. Navitas' management has limited public company experience. As a result of becoming a public company, Navitas will be subject to additional regulatory compliance requirements and if Navitas fails to maintain an effective system of internal controls, Navitas may not be able to accurately report its financial results or prevent fraud. Compliance with state, federal, and foreign laws and regulations related to privacy, data use, and security may require increased capital expenditure, and a failure to comply with such laws and regulations could adversely affect Navitas. Regulations and evolving legislation governing issues involving climate change and sustainability could result in increased operating costs, which could have a material adverse effect on Navitas' business. Part of Navitas' business strategy includes certain claimed emissions-reduction benefits associated with the use of its products. Calculation of these benefits is complex and may need to be revised in the future if new information becomes available, and to the extent such a revision reduces the anticipated emissions-reduction benefits, this could adversely impact Navitas' ability to market the sustainability aspects of its products. Navitas' "awarded" and "qualified" opportunities may not be converted into binding orders or sales, and customers may cancel or delay that pipeline. Navitas' projections are subject to significant risks, assumptions, estimates and uncertainties. As a result, our projected revenues, gross margin, EBITDA, market share, expenses and profitability may differ materially from our expectations. Navitas' operating results and performance forecasts and projections regarding Navitas' target markets rely in large part upon assumptions, estimates, measurements, testing, analyses and data developed and performed by Navitas. If these estimates, measurements, testing, analyses and data prove to be incorrect or flawed, Navitas' actual operating results and performance may suffer or fail to meet expectations. Incorrect estimates or assumptions by management in connection with the preparation of Navitas' consolidated financial statements could adversely affect Navitas' reported assets, liabilities, income, revenue or expenses. O Navitas Semiconductor 2021 42

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