Navitas SPAC Presentation Deck

Risk Factors Related to Navitas Navitas Important Disclosures The list below of risk factors has been prepared in connection with the proposed business combination of Live Oak Acquisition Corp. II ("LOKB") and Navitas Semiconductor Limited (the "Business Combination"). All references to "Navitas," "we," "us" or "our" refer to the business of Navitas Semiconductor Limited and its consolidated subsidiaries. The risks presented below are certain of the general risks related to the business of Navitas and the Business Combination, and such list is not exhaustive. The list below is qualified in its entirety by disclosures contained in future documents filed or furnished by Navitas and LOKB with the U.S. Securities and Exchange Commission ("SEC"), including the documents filed or furnished in connection with the proposed transactions between Navitas and LOKB. The risks presented in such filings will be consistent with those that would be required for a public company in its SEC filings, including with respect to the business and securities of Navitas and LOKB and the proposed transactions between Navitas and LOKB, and may differ significantly from and be more extensive than those presented below. If we cannot address any of the following risks and uncertainties effectively, or any other risks and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. The risks described below are not the only ones we face. Additional risks that we currently do not know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. You should review the investor presentation and perform your own due diligence prior to making an investment in Navitas and LOKB. RISKS RELATED TO NAVITAS' BUSINESS The cyclical nature of the semiconductor industry may limit Navitas' ability to maintain or improve its net sales and profitability. Downturns or volatility in general economic conditions could have a material adverse effect on Navitas' business, financial condition, results of operations and liquidity. Navitas' business could be materially and adversely affected by the current global COVID-19 pandemic or other health epidemics and outbreaks. The semiconductor industry is highly competitive. If Navitas is not able to compete successfully, its business, financial results and future prospects will be harmed. The semiconductor industry is characterized by continued price erosion, especially after a product has been on the market. Navitas' working capital needs are difficult to predict. Industry consolidation may result in increased competition, which could result in a reduction in revenue. Navitas depends on growth in the end markets that use its products. Any slowdown in the growth of these end markets could adversely affect its financial results. The average selling prices of products in Navitas' markets have historically decreased over time and could do so in the future, which could adversely impact Navitas' revenue and profitability. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Navitas is dependent on a limited number of distributors and end customers. The loss of, or a significant disruption in the relationships with any of these distributors or end customers, could significantly reduce Navitas' revenue and adversely impact Navitas' operating result. A significant portion of Navitas' net sales is generated through customers in China which subjects Navitas to risks associated with changes of Chinese customer interest and governmental or regulatory changes. If Navitas fails in a timely and cost-effective manner to develop new product features or new products that address customer preferences and achieve market acceptance, Navitas' operating results could be adversely affected. If Navitas fails to accurately anticipate and respond to rapid technological change in the industries in which Navitas operates, Navitas' ability to attract and retain customers could be impaired and its competitive position could be harmed. Navitas' competitive position could be adversely affected if it is unable to meet customers' or device manufacturers' quality requirements. If Navitas is unable to expand or further diversify its customer base, its business, financial condition, and results of operations could suffer. Navitas' success and future revenue depends on its ability to achieve design wins and to convince Navitas' current and prospective customers to design its products into their product offerings. If Navitas does not continue to win designs or its products are not designed into its customers' product offerings, Navitas' results of operations and business will be harmed. Even if Navitas succeeds in securing design wins for its products, Navitas may not generate timely or sufficient net sales or margins from those wins and its financial results could suffer. O Navitas Semiconductor 2021 39

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