AEVAW

• Progress with top 10 global passenger OEM: Completed development program ahead of plan for their next-generation global production platform using Atlas Ultra sensor, with late-stage contract negotiations for series production.
• Daimler Truck production program: Completed sensor deliveries for initial vehicle builds, preparing for 2026 vehicle fleet expansion, and received initial orders for 2026.
• Precision sensing: Introduced Eve 1V motion sensor for manufacturing automation, completed installation and bring up of Eve sensor production line in Thailand with first sensors shipped, and seeing strong reception with initial orders for Eve 1V.
• $100 million investment from Apollo Global Management in the form of convertible notes to support scaling existing programs and winning additional programs.

• Expect to close the top 10 global passenger OEM production program decision and finish the year strong.
• Daimler Truck remains on track for 2027 market entry for autonomous truck production.
• Plan to continue increasing capacity for precision sensing products to fulfill growing demand.

Revenue in Q3 was $3.6 million. In automotive, progress with top 10 global passenger OEM includes completing development program ahead of plan and being in late-stage contract negotiations for series production. For Daimler Truck, completed sensor deliveries for initial vehicle builds and received initial orders for 2026. In precision sensing, Eve 1D sensors had over 1,000 units ordered and first sensors shipped; Eve 1V motion sensor introduced with strong reception and initial orders. The production line for Eve sensors in Thailand was completed, with first sensors shipped and capacity in place to fulfill next year's volumes.

• Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations. Refer to SEC filings for material risks affecting financial results.

Q: Can you talk a little bit about the ramp in Metrology sales?

A: Soroush discussed Eve 1D sensor ramp with initial orders over 1,000 units, completed manufacturing line setup in Thailand, and Eve 1V sensor for speed measurement with strong market reception. Market for displacement sensors is multibillion dollars with high ASPs.

Q: As a follow-up, just the L2 ADAS and kind of L2+ ADAS opportunity on the trucking side seems pretty substantial. Can you talk about the breadth and depth of customers looking at your solution?

A: Soroush mentioned partnership with Bendix for Level 2+ ADAS, leveraging 4D LiDAR technology to reduce need for other components, and seeing this as a massive opportunity with potential marquee win.

Q: Looking at the Tier 1 you're on the brink of signing with; I'm wondering the step of having to proliferate the design across their model line. I'm curious, what's involved there and how detailed a process that is?

A: Soroush explained completion of key milestones with top 10 OEM including packaging, integration, performance alignment, and industrialization, with late-stage commercial negotiations ongoing.

Q: You have Matt here on for George. Congrats on the quarter. So just to start off, could you guys just provide a little more color on the timeline with Daimler?

A: Soroush stated Daimler Truck is on track for 2027 market entry, progressing with vehicle build plans, received initial orders, and Daimler Truck is committed to autonomy with clear milestones.

Q: It looks like you guys obviously raised the $100 million investment from Apollo. Could you just provide a little more color on what you intend to use that for and how that's going to help you just push commercialization faster?

A: Saurabh said the $100 million is for general corporate purposes, and Apollo's investment supports scaling existing programs and winning additional programs.

Q: Just want to make sure that you're in an exclusive negotiation position. There aren't any other competitors here. I think you alluded to that's probably the case, but I just want to make sure that, that is accurate. And then also maybe if you can elaborate, hopefully, you mentioned this before when I was on the call, but what kind of time frames are we looking at for ramping here?

A: Soroush stated feeling good about securing the production program, with timing pulled forward, and on track for late '27, early '28 timeline for the OEM's launch.