Bright Machines SPAC

High Growth Platform with an Improving Margin Profile Summary Forecasted Financials (s in millions) Bright Machines $34 2020A Gross Margin % $54 12% S 2020A-2025E Revenue CAGR +84% $85 29% 2021E 2022E Assembly Automation Revenue $164 40% $317 2024E 2023E Additional Software & Services Revenue 50% $727 Although there will be an overall reduction in revenue related to legacy automation testing professional services and leasing of non-proprietary used manufacturing equipment under the MSSA, this amendment also includes a firm commitment to purchasesso milion per year through May aday of the Company's proprietary products and services. The newestimated lifetime value of the amended MSSA will be approximately 240 million Nether the used manufacturing equipment leasing nor automation testing and engineering professional services is core to the Bright Machines business, 2025E 60%+ -$3,600 -$2,300 -$1,300 2030E Source Bright Machines management projections Note: In 2018, Bright Machines entered into a 5-year Master Services Subscription Agreement (the "MSSA) with Flex for services ranging from hardware leasing to engineering and testing services as well as product purchases. The estimated lifetime value of that contract was approximately $350 milion. Given that business conditions have changed due to the pandemic and that Bright Machines has focused on building software-defined assembly lines and manufacturing software, Bright Machines and Flex have agreed to amend the terms of the MSSA. The agreement will result in * Bright Machines exiting the used SMT hardware leasing business. Flex will make an upfront cash payment of s82 million for the sale of such hardware assets mostly based in China. - Flexwil reduce its commitment to purchase professional automation services by a total of approximately $120 million over the remaining term of the MSSAL - Bright Machines will retire approximately go million shares of their 3.8 million shares of Bright Machines common stock currently aaned by Flex, which is proportionate to Flex's revised commitments under the MSSA Ⓒ2021 Bright Machines, Inc. 34

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