Credit Suisse Investment Banking Pitch Book

3 Selected companies analysis ($ in millions, except per share values) Company Berkshire Grey (consensus) Berkshire Grey (management) (2) Emerging industrial technology Desktop Metal Fathom gital Markforged Sarcos Technology and Robotics Velo3D Emerging fulfillment technology AutoStore Symbotic Automation-oriented industrial technology Cognex Hexagon Rockwell Automatic Trimble ($ in millions, except per share amounts) 2023E Revenue Metric (1) (2) $101 Low Share price as of 3/14/23 2.0x Selected multiple ranges High $1.07 $1.07 $2.11 $0.77 $0.97 $0.47 $2.62 €22.68 $17.08 $48.03 NOK 114.05 $294.30 $48.45 5.0x Equity value 284 284 673 105 188 73 488 7,284 10,282 8,390 29,455 34,028 11,949 Low $201 Ent. value Mean Median Mean Median (1) Mean Median 226 226 620 420 69 (61) 416 7,602 9,885 7,949 29,801 36,182 13,228 Overall Mean Overall Median (1) Implied enterprise value EV / Revenue CY¹23E 1.9x 2.2x High $504 2.6x 2.5x 0.7x NM 3.4x 2.3x 2.5x 10.5× 8.8x 9.7x 9.7x 8.5x 5,2x 4.1x 3.5x 5.3x 4.7x 4.5x 3.4x CY'24E NM 1.3x 2.2x 2.3x 0.5x NM 2.3x 1.8x 2.3x 8.9x 5.8x 7.3x 7.3x 7.4x 4.9x 3.9x 3.3x 4.9x 4.4x 3.9x 3.3x Low EV / EBITDA $260 CY'23E NM NM NM 11.7x NM NM NM 11.7x 11.7x 22.2x NM 22.2x 22.2x 33.2x 14,2x 18.9x 13.8x 20.0x 16.5x 19.0x 16.5x CY'24E NM NM NM 10.3x NM NM NM 10.3x 10.3x 18.4x NM 18.4x 18.4x 24.8x 13.0x 17.7x 13.0x 17.1x 15.4x 16.2x 15.4x Implied equity value High CY'22E-24E CAGR EBITDA NM NM Revenue ΝΑ 55.4% $562 15.1% 6.4% 12.4% 159.0% 50.3% 48.7% 15.1% 23.1% 57.2% 40.1% 40.1% 3.0% 5.4% 7.3% 4.2% 5.0% 4.8% 33.2% 13.8% Source: Company filings and FactSet as of 3/14/23. Note: Equity value per share based on current shares of 323.3m, including 242.3m common shares outstanding, 21.4m stock options, 19.5m RSUS, 14.8m of Class A common stock warrants, and 25.3m of FedEx warrants. Common shares outstanding include 2.9m unvested RSAS. Assumes a treasury stock method for purposes of calculations. Assumes Bravo cash balance as of 12/31/22 per Bravo management. Per Bravo management. NM NM NM NM NM NM NM 34.5% NA 34.5% 34.5% 5.7% 7.8% 10.6% 5.6% 7.4% 6.7% 12.8% 7.8% EBITDA margin CY'23E NM NM NM 21.1% NM NM NM 21.1% 21.1% 47.4% 1.2% 24.3% 24.3% 25.5% 36.7% 21.9% 25.4% 27.4% 25.5% 25.6% 25.4% CY'24E NM NM NM 22.1% NM NM NM 22.1% 22.1% 48.2% 13.5% 30.8% 30.8% 30.1% 37.5% 22.2% 25.5% 28.8% 27.8% 28.4% 25.5% Implied equity value per share Low High $2.03 $0.98 | Draft | 7

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