Aeva Investor Presentation Deck

Attractive Margin and Free Cash Flow Profile Highly profitable business model demonstrated by healthy margins Aeva system is composed of 3 core components, each is already being produced based on proven high volume semiconductor processes providing high visibility into production COGS Significant operating leverage from R&D, S&M and G&A Breakeven profitability and free cash flow in 2024 ● • Leveraging world's top manufacturing partners for production and distribution ● Existing partnerships for key component production including with leading Semiconductor foundries on proven processes for telecom Collaborations with top Tier-1s for Automotive (e.g., ZF) and other contract manufacturing partners enable scale across all four verticals Resulting in no manufacturing CapEx • Foundational technology platform drives mass adoption of Aeva perception solutions across devices Same silicon photonics technology validated by Automotive requirement enables broad adoption into Consumer Electronics, Industrial and Security Scaling of feature set possible at core component level for cost-optimized solutions Additional revenue opportunity with new software feature set with OTA updates leveraging Aeva's unique 4D data Estimated Gross Profit Gross Profit ($MM) Adj. EBITDA ($MM) $3 Total gross profit 43% Adj. EBITDA Less CapEx ($MM) 2020E ($27) 2020E $5 Estimated Adjusted EBITDA ($28) 2021E 2020E ¹Adjusted EBITDA defined as Operating Income (Loss) plus Depreciation and Amortization and stock based compensation; Free Cash Flow defined as Adjusted EBITDA minus Capital Expenditures Source: Aeva estimates ($65) 2021E Estimated Free Cash Flow 53% ($69) 2021E $19 2022E ($82) 2022E ($91) 2022E 57% $43 2023E EBITDA Margin ($88) 2023E ($100) 2023E 62% $177 2024E 7% $21 2024E $15 2024E $552 63% 2025E 39% $347 2025E $343 2025E AEVA % Margin 28

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