Navitas SPAC Presentation Deck

GaN Is Positioned For The Future Of Solar Solar energy adoption is driven by $ per watt Solar adoption driven by reducing hardware costs, increasing energy savings GaN ICs reduce solar inverter costs while increasing energy savings Typical solar payback is in range of 8 years(1) ● ● ● GaN ICs can improve solar payback by 10% or more GaN ICs shrink passive & mechanical size, weight & cost by 50% Enabling a 25%+ cost reduction of solar inverters (2) GaN ICs deliver 40% energy savings in solar inverters (²) ● ● Lower Inverter Cost (³) $ $0.100/W Silicon O Navitas Semiconductor 2021 25%+ Savings $0.075/W GăN Less Inverter Power Dissipation (3) 158 W 40%+ Energy Savings ✓ 94 W ● ● E ● L C Silicon GăN (1) EnergySage Solar Marketplace, 2020. (2) Navitas estimate versus Si-based inverters assuming GaN-based inverter enables 40% reduced power loss and 25% lower inverter costs for a typical 6.2kW residential solar installation. ((«. $500M opportunity in development with lead solar customer Leading solar player expected to adopt GaN IC in next-generation inverters and storage Over $500M GaN IC revenue opportunity between 2023 - 2030 4- Power is converted from DC low-voltage solar panels to AC high-voltage to power your home or the power grid and to high-voltage DC stored in a battery (energy storage). Total residential solar GaN IC opportunity > $1B / Year(4) $5-10M GAN IC sales potential per MW solar installation (3) Navitas estimate based on 6.2 kW residential installation with silicon inverter at 97.5% efficiency and GaN invertor at 98.5% efficiency. Navitas GaNFast™ Micro-inverters Opportunity GanFast Energy Storage Opportunity TM (4) Based on Marketsand Markets Micro-Inverter Market report and Navitas analysis. 22

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