Slide 1: Second Quarter 2022 Supplementary Slides
VELO” Second Quarter 2022. Supplementafy Slides Without Compromise August 9, 2022
Slide 2: Disclaimer: Forward Looking Statement
Ve Disclaimer Forward Looking Statement This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company's actual results may differ from its expectations, estimates and projections and con
Slide 3: Benny Buller, CEO
Benny Buller CEO August 9, 2022
Slide 4: Velo3D and competing metal 3D printing companies
Velo3D 3D Systems EOS GE Additive Renishaw SLM Solutions TRUMPF •
Slide 5: Q222 Highlights — Achieving Scale
Vv" Q222 Highlights — Achieving Scale Significant Q2 revenue growth - up 60% sequentially, >160% YoY Strong bookings of $18M, backlog remains at $55M High confidence in achieving 2022 revenue growth target - 225% YoY Driven by H1'22 revenue performance and growth in backlog Successful ramp of Sapphi
Slide 6: High Visibility to Achieve 2022 Revenue Guidance
Vv High Visibility to Achieve 2022 Revenue Guidance >95% of 2022 revenue recognized, recurring or booked Driven by strong 1H22 shipments / bookings Reduced 2022 bookings gap from $21m to $3m Focused on managing supply chain to meet forecasts Current conditions remain challenging Well positioned to a
Slide 7: Efficiency Improvement Key to Long Term Growth Forecast
V 3D Efficiency Improvement Key to Long Term Growth Forecast Initiatives to decrease in Bill of Materials costs Procurement of Sapphire XC integrated sub-assemblies Leverage scale to consolidate supply chain with key partners Initiatives to reduce inventory / minimize supply shortages mprove and aut
Slide 8: Bill McCombe
Bill McCombe
Slide 9: Financial Summary
Vv Financial Summary Q2 22 Ql 22 Q221 Total Revenue $19.6 $12.2 $71 Year of Sale 176 10.2 6.1 Recurring Revenue 2.0 2.0 1.0 Cost of Goods sold 18.4 12.2 5.0 Gross Profit 12 0.0 22 % Gross Margin 6% 0% 31% Total Operating Expenses 275 28.2 14.0 Adjusted Operating Expenses! 22:5 23/2) 11.6 Adjusted EB
Slide 10: Gross margin progression and drivers
0% 5% 10% 15% 20% 25% 30% Q122E Q222E Q322E Q422E Reported / Estimated Launch Pricing Overhead Absorption BoM Costs 0% 5% 10% 15% 20% 25% 30% Q122A Q222A Q322E Q422E Reported / Estimated Launch Pricing Overhead Absorption BoM Costs
Slide 11: Strong Balance Sheet Supports Growth Plan
Vv" Strong Balance Sheet Supports Growth Plan Balance Sheet - June 30, 2022 ($m) $186m $20 Cash and Investments $142 $19 Other Current Assets 81 $5 $142m — Long Term Assets 40 Total Assets $263 Current Liabilities (less debt) 48 Total Debt 7 Long Term Liabilities 8 Earnout/Warrant Liability 7 Shareh
Slide 12: Summary / Outlook
-_ Summary / Outlook Reiterating 2022 revenue guidance of $89 million on continued strong demand Significant visibility - >95% of forecast recognized, booked or recurring Strong 1H22 execution / Q2 bookings of $18 million / $55 million in backlog Differentiation driving growth - on track to become m
Slide 13: Q&A
Slide 14: Appendix
VELO Appendix 1 (408) 610-3915 511 Division St. Campbell, CA95008
Slide 15: Non-GAAP Reconciliation - Adjusted Operating Expenses
Vv Non-GAAP Reconciliation - Adjusted Operating Expenses (Wnaucitea) Velo3D, Inc. NON-GAAP Adjusted Operating Expenses Reconciliation (Unaudited) Three months ended ‘six months ended Three months ended June 30, 2022 June 30, 2021 une 30, 2022 June 30, 2023 March 31, 2022 March 31, 2021 (In thousands
Slide 16: Non-GAAP Reconciliation - Adjusted EBITDA
Vv Non-GAAP Reconciliation - Adjusted EBITDA (nauditea) Revenue ‘Net income (Loss) Interest expense Tax expense Depreciation and amortization EBITDA Stock-based compensation (Gain) Loss on fair value of warrants (Gain) Loss on fair value of contingent earnout liabilities Adjusted EBITDA Merger relat
Slide 17: Non-GAAP Reconciliation - Non-GAAP Net Income (Loss)
Vv Non-GAAP Reconciliation - Non-GAAP Net Income (Loss) (unauditea) Revenue Gross Profit ‘Net Income (Loss) Stock-based compensation (Gain) Loss on fair value of warrants (Gain) Loss on fair value of contingent earnout liabilities Merger related transactional costs Non-GAAP Net Income (Loss) Velo30,
Slide 18: Disclaimer: Industry and Market Data
Vv Disclaimer Industry and Market Data In this presentation, the Company relies on and refers to publicly available information and statistics regarding the market in which the Company competes and other industry data, The Company obtained this information and statistics from third-party sources, in