Aurora Innovation, Inc. · NASDAQ:AUR

Aurora Innovation — Investor Day (September 2022)

105 slides from Aurora Innovation's investor day presentation, Sep 28, 2022

Slide 2: Cautionary statement regarding forward-looking statements
Cautionary statement regarding forward-looking statements ©2022 Aurora Proprietary 2
Slide 3: Forward-looking statements
This presentation contains certain forward-looking statements within the meaning of the federal securities laws. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited, to those stateme
Slide 4: Our mission: deliver the benefits of self-driving technology safely, quickly, and broadly
It’s our mission to deliver the benefits of self-driving technology safely, quickly, and broadly ©2022 Aurora Proprietary 4
Slide 9: Self-driving software, hardware, and data services
Self-driving software Self-driving hardware Maps, offboard support, and other data services Trucking Passenger mobility Local goods delivery ©2022 Aurora Proprietary 9
Slide 13: Focused on the clearest path to commercialization
Focused on the clearest path to commercialization ©2022 Aurora Proprietary 13
Slide 14: Trucking and Ride-hailing
Trucking Distribution Warehouse Terminal Terminal Warehouse Store Center City Center Airport Hotel Park / Home Business District Ride-hailing ©2022 Aurora Proprietary 14
Slide 15: Trucking is a very large addressable market with attractive unit economics
Trucking is a very large addressable market with significant need and attractive unit economics ©2022 Aurora Proprietary 15
Slide 16: Addressable markets: trucking, ride-hailing, delivery
$700bn 1 $4tn Trucking market (US) Global4 $35bn $1tn / $5tn $100bn $400bn Ride-hailing market (US) 2 Personal mobility TAM (US / Global) 5 Local goods delivery Global6 market (US)3 SOURCES: 1 A.T. Kearney State of Logistics, 2020. 2 Public filings of ride-hailing companies. 3 Pitney Bowes, Parcel S
Slide 17: Strong, strategic partnerships support commercialization in trucking
Our strong, strategic partnerships support our commercialization in trucking ©2022 Aurora Proprietary 17
Slide 18: Aurora's Ecosystem Approach
OEMs Logistics Services Aurora’s Ecosystem Approach Fleet Service Partners Ride Networks ©2022 Aurora Proprietary 18
Slide 19: Impact on the safety of the freight industry
We are motivated by the immense impact this technology can have on the safety of the freight industry ©2022 Aurora Proprietary 19
Slide 20: First and foremost the opportunity to increase safety
First and foremost the opportunity to increase safety 500K Every year there are half a 5601 Estimated number of people million large truck crashes killed in large truck crashes in on US roads the US in 2021 -- a 13% increase over 2020 Sources: FMCSA Large Truck and Bus Crash Facts 2018; National Hig
Slide 21: Solving industry pain points with autonomy
Solving industry pain points with autonomy ©2022 Aurora Proprietary 21
Slide 22: Industry pain points and Aurora's value add
Industry Pain Point Aurora’s Value Add High driver shortage and turnover 80k short today; expected to grow to >>> Scalable, stable driver supply 160k by 20261, 90%+ annual turnover for large fleets2 Hours of service limitations Traditional trucking is subject to 11 hours >>> Faster freight of servic
Slide 23: The near-term value proposition for our customers
The near-term value proposition for our customers is incredibly compelling Aurora Horizon will increase customer revenue potential and will optimize customer total cost of ownership ©2022 Aurora Proprietary 23
Slide 24: Increased safety, faster freight, increased revenue, reduced costs
Increased safety Faster freight Increased Reduced revenue/truck operating costs ©2022 Aurora Proprietary 24
Slide 25: Driver as a Service structured to be highly capital efficient
Our business model is Driver as a Service and structured to be highly capital efficient Aurora provides its technology to an external fleet owner Description and/or operator Revenue Fee per mile Variable: insurance2, Aurora Driver hardware/maintenance cost3, remote assistance, cloud, telecommunicati
Slide 27: Driver as a Service aligns with our customers' needs
Our Driver as a Service business model aligns with our customers’ needs Increases customer revenue potential and optimizes customer total cost of ownership Aurora is a valued service provider, not a competitor to carriers, supplementing Customer Relationship their existing fleets Increased revenue p
Slide 29: Three elements needed to bring Aurora Horizon to market
Our business is structured around the three elements needed to bring Aurora Horizon to market ©2022 Aurora Proprietary 29
Slide 30: Aurora Driver, Operations & Service Delivery, Truck Platform
The Aurora Driver Operations & Service Delivery Truck Platform ©2022 Aurora Proprietary 30
Slide 31: Aurora Horizon Roadmap to Launch
Aurora Horizon Roadmap to Launch 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Navigate construction Execute Texas Detect lane Navigate lanes Identify zones - blocked lanes U-turns markings that made by involvement in Feature Complete* Aurora Driver Ready** and road closures have shifted due temporary collision and
Slide 32: Aurora Horizon Roadmap to Launch
Aurora Horizon Roadmap to Launch 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Navigate construction Execute Texas Detect lane Navigate lanes Identify zones - blocked lanes U-turns markings that made by involvement in Feature Complete* Aurora Driver Ready** and road closures have shifted due temporary collision and
Slide 37: Recognizing temporary construction signage
Recognizing temporary construction signage ©2022 Aurora Proprietary 37
Slide 38: ©2022 Aurora Proprietary
ACTUAL ACTUAL wero y 64.6 75 ¢ PLANNER PLANNER = MPH Aurora 2022 aurora Proprietary 38
Slide 41: Managing quick decisions with changing lanes
Managing quick decisions with changing lanes ©2022 Aurora Proprietary 41
Slide 43: Fault Management system response: pull to the shoulder
Fault Management system response: pull to the shoulder ©2022 Aurora Proprietary 43
Slide 45: Responding to road debris and detecting shifted lane markings
Responding to road debris and detecting lane markings that have shifted due to construction New capabilities in Q3 ©2022 Aurora Proprietary 45
Slide 47: Feature Complete Milestone
Feature Complete Milestone We will have implemented all of the capabilities necessary for launch and all policy interventions will have been removed. A policy intervention is an action our operators take to preemptively disengage the Aurora Driver when we know it is not yet capable of confidently na
Slide 48: Aurora Driver Ready Milestone
Aurora Driver Ready Milestone Validation of the Aurora Driver will have been completed and the Aurora Driver Safety Case for the launch lane, excluding the truck platform, is closed. ©2022 Aurora Proprietary 48
Slide 49: Our progress toward the commercial-ready Aurora Driver
Our progress toward delivering the commercial-ready Aurora Driver ©2022 Aurora Proprietary 49
Slide 52: Aurora's self-driving vehicles are acceptably safe to operate on public roads
Aurora’s self-driving vehicles are acceptably safe to operate on public roads G1 G2 G3 G4 G5 Proficient Fail-Safe Continuously Resilient Trustworthy Improving The self-driving The self-driving All identified potential The self-driving The self-driving vehicle is acceptably vehicle is acceptably safe
Slide 53: Safety Case: From Feature Complete to Commercial Launch
Safety Case: From “Feature Complete” to “Aurora Driver Ready” to “Commercial Launch” ©2022 Aurora Proprietary 53
Slide 54: Autonomy Readiness Measure
Autonomy Readiness Measure: At “Feature Complete” we plan to begin sharing our progress against closing our Safety Case Safety Case Feature Complete Aurora Driver Ready Commercial Launch % Complete 95%(E) 100% Closing of the Safety Case claims for the autonomy-enabled truck platform Autonomy Readine
Slide 56: Percentage of miles in autonomy
Once the Aurora Driver is “Feature Complete” we also plan to provide a supplemental measure of our on-road autonomy performance as an indicator of our progress in everyday driving scenarios Percentage of miles in autonomy Includes miles driven in autonomy that received remote input from Aurora Beaco
Slide 57: Robust development, testing and validation through simulation and on-road driving
We believe the key to developing autonomous technology for safe, commercial operation is through robust development, testing, and validation through both simulation and on-road driving. As we have said previously, we believe there are significant limitations to the data that on-road driving can prov
Slide 58: Quarterly measurement of commercially-representative miles
The indicator is a quarterly measurement, reflected as a percentage of total commercially- representative miles driven over the quarter, that incorporates three components: ● miles driven during the quarter that did not require support, with support meaning human assistance via a vehicle operator to
Slide 59: The bar to Commercial Launch: Closed Safety Case
The bar to Commercial Launch: Closed Safety Case ©2022 Aurora Proprietary 59
Slide 61: Fireside Chat: Self-Driving Safety with Dr. Jeff Runge
Fireside Chat: Self-Driving Safety with former NHTSA Administrator Dr. Jeff Runge Moderated by Aurora VP of Safety, Nat Beuse ©2022 Aurora Proprietary 61
Slide 63: Aurora Horizon Roadmap to Launch
Aurora Horizon Roadmap to Launch 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Navigate construction Execute Texas Detect lane Navigate lanes Identify zones - blocked lanes U-turns markings that made by involvement in Feature Complete* Aurora Driver Ready** and road closures have shifted due temporary collision and
Slide 65: Next-Generation Aurora Computer
Next-Generation Aurora Computer ✓ Fully redundant ✓ Self-monitoring ✓ Liquid cooled ✓ Capable of up to 5,400 TOPS* ✓ Designed for ISO 16750 automotive grade reliability & ruggedness *INT8 w/ sparsity ©2022 Aurora Proprietary 65
Slide 66: Camera imaging: previous generation vs new computer and 8MP cameras
24-bit with Previous Generation Computer & 2MP Cameras 32-bit HDR with new Computer & 8MP Cameras ©2022 Aurora Proprietary 66
Slide 67: Aurora FirstLight Lidar
Aurora FirstLight Lidar ✓ Designed for ISO 16750 automotive grade reliability & ruggedness ✓ Equipped with integrated cleaning system ✓ Liquid cooled ✓ Self-monitoring ✓ Increased range and probability of detection ©2022 Aurora Proprietary 67
Slide 73: Aurora Horizon Roadmap to Launch
Aurora Horizon Roadmap to Launch 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Navigate construction Execute Texas Detect lane Navigate lanes Identify zones - blocked lanes U-turns markings that made by involvement in Feature Complete* Aurora Driver Ready** and road closures have shifted due temporary collision and
Slide 81: Aurora Horizon Roadmap to Launch
Aurora Horizon Roadmap to Launch 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Navigate construction Execute Texas Detect lane Navigate lanes Identify zones - blocked lanes U-turns markings that made by involvement in Feature Complete* Aurora Driver Ready** and road closures have shifted due temporary collision and
Slide 84: Scaling and informing our operations through our pilots
Scaling and informing our operations through our pilots Industry collaborators ©2022 Aurora Proprietary 84
Slide 85: Pilot loads delivered, on-time arrival and miles driven
550+ Loads Delivered 100% On-Time Arrival 150k Miles Driven 0% Cancellation Rate1 1 Excludes safety cancellations due to extreme weather events deemed unsafe for any driver ©2022 Aurora Proprietary 85
Slide 86: Horizon terminal-to-terminal model at commercial launch
Horizon terminal-to-terminal model at commercial launch Aurora-driven truck Aurora terminal Aurora terminal Manually-driven truck Manually-driven truck Aurora-driven truck ©2022 Aurora Proprietary 86
Slide 87: Customer load request and trailer shuttle to terminal
Customer load request and trailer shuttle to terminal ©2022 Aurora Proprietary 87
Slide 92: Scheduling, Fleet Monitoring, Aurora Assist
Scheduling Fleet Monitoring Aurora Assist ©2022 Aurora Proprietary 92
Slide 93: Autonomous load completion and trailer pickup
Autonomous load completion and trailer pickup ©2022 Aurora Proprietary 93
Slide 95: Driver as a Service aligns with our customers' needs
Our Driver as a Service business model aligns with our customers’ needs Increases customer revenue potential and optimizes customer total cost of ownership Aurora is a valued service provider, not a competitor to carriers, supplementing Customer Relationship their existing fleets Increased revenue p
Slide 97: Developing all operational components to deliver autonomy at scale
We’re developing all of the operational components to deliver autonomy at scale ©2022 Aurora Proprietary 97
Slide 98: Elements of our operation
Elements of our operation Ops control Load planning Command Fleet Health & rescue & dispatch center operations Terminal Origin & Terminal launching destination operations and landing shuttle Maintenance Beacon services Customer engagement ©2022 Aurora Proprietary 98
Slide 99: The regulatory landscape for autonomous trucking
The regulatory landscape for autonomous trucking ©2022 Aurora Proprietary 99
Slide 100: Roles of Government
Roles of Government NHTSA: Setting Federal Motor Vehicle Safety Standards (FMVSSs) for new motor vehicles and motor vehicle equipment; Enforcing compliance with FMVSSs; Investigating and managing the Federal recall and remedy of non-compliances and safety-related motor vehicle defects nationwide; Co
Slide 101: How we're building trust
How we’re building trust Under existing regulations, autonomous vehicles can be deployed in a large majority of states in the U.S. today. As a leader in innovation and safety, Aurora engages with regulators, government officials at all levels, law enforcement, and industry groups to build trust and
Slide 102: State regulatory map for autonomous vehicles
Deployment permitted Testing permitted Autonomous trucking prohibited Driverless Operation prohibited LA and AL permit autonomous commercial vehicle operation, but have no existing regulations regarding autonomous light vehicle operations. CA prohibits autonomous trucking testing and deployment, but
Slide 104: Why we're positioned for success
✓ Leadership team with unparalleled cumulative industry perspective supported by deep technical experience across the organization ✓ Differentiated technology across the software and hardware stack ✓ Strong, strategic partnerships support commercialization ✓ A defined path to commercial launch in tr

Aurora Innovation — Investor Day (September 2022) on 6ix

Aurora Innovation — Investor Day (September 2022)

Slide 1: Analyst & Investor Day

Slide 2: Cautionary statement regarding forward-looking statements

Slide 3: Forward-looking statements

Slide 4: Our mission: deliver the benefits of self-driving technology safely, quickly, and broadly

Slide 5: ©2022 Aurora Proprietary

Slide 6: We're building a driver for all vehicles

Slide 7: ©2022 Aurora Proprietary

Slide 8: ©2022 Aurora Proprietary

Slide 9: Self-driving software, hardware, and data services

Slide 10: ©2022 Aurora Proprietary

Slide 11: ©2022 Aurora Proprietary

Slide 12: ©2022 Aurora Proprietary

Slide 13: Focused on the clearest path to commercialization

Slide 14: Trucking and Ride-hailing

Slide 15: Trucking is a very large addressable market with attractive unit economics

Slide 16: Addressable markets: trucking, ride-hailing, delivery

Slide 17: Strong, strategic partnerships support commercialization in trucking

Slide 18: Aurora's Ecosystem Approach

Slide 19: Impact on the safety of the freight industry

Slide 20: First and foremost the opportunity to increase safety

Slide 21: Solving industry pain points with autonomy

Slide 22: Industry pain points and Aurora's value add

Slide 23: The near-term value proposition for our customers

Slide 24: Increased safety, faster freight, increased revenue, reduced costs

Slide 25: Driver as a Service structured to be highly capital efficient

Slide 26: ©2022 Aurora Proprietary

Slide 27: Driver as a Service aligns with our customers' needs

Slide 28: ©2022 Aurora Proprietary

Slide 29: Three elements needed to bring Aurora Horizon to market

Slide 30: Aurora Driver, Operations & Service Delivery, Truck Platform

Slide 31: Aurora Horizon Roadmap to Launch

Slide 32: Aurora Horizon Roadmap to Launch

Slide 33: ©2022 Aurora Proprietary

Slide 34: ©2022 Aurora Proprietary

Slide 35: Navigating construction lane closures

Slide 36: ©2022 Aurora Proprietary

Slide 37: Recognizing temporary construction signage

Slide 38: ©2022 Aurora Proprietary

Slide 39: Performing Texas U-turns

Slide 40: ©2022 Aurora Proprietary

Slide 41: Managing quick decisions with changing lanes

Slide 42: ©2022 Aurora Proprietary

Slide 43: Fault Management system response: pull to the shoulder

Slide 44: ©2022 Aurora Proprietary

Slide 45: Responding to road debris and detecting shifted lane markings

Slide 46: ©2022 Aurora Proprietary

Slide 47: Feature Complete Milestone

Slide 48: Aurora Driver Ready Milestone

Slide 49: Our progress toward the commercial-ready Aurora Driver

Slide 50: Autonomy Readiness Measure

Slide 51: Completing our Safety Case

Slide 52: Aurora's self-driving vehicles are acceptably safe to operate on public roads

Slide 53: Safety Case: From Feature Complete to Commercial Launch

Slide 54: Autonomy Readiness Measure

Slide 55: On-road autonomy performance indicator

Slide 56: Percentage of miles in autonomy

Slide 57: Robust development, testing and validation through simulation and on-road driving

Slide 58: Quarterly measurement of commercially-representative miles

Slide 59: The bar to Commercial Launch: Closed Safety Case

Slide 60: Complete

Slide 61: Fireside Chat: Self-Driving Safety with Dr. Jeff Runge

Slide 62: ©2022 Aurora Proprietary

Slide 63: Aurora Horizon Roadmap to Launch

Slide 64: ©2022 Aurora Proprietary

Slide 65: Next-Generation Aurora Computer

Slide 66: Camera imaging: previous generation vs new computer and 8MP cameras

Slide 67: Aurora FirstLight Lidar

Slide 68: ©2022 Aurora Proprietary

Slide 69: Hardware reliability testing

Slide 70: ©2022 Aurora Proprietary

Slide 71: Scaling our fleet

Slide 72: ©2022 Aurora Proprietary

Slide 73: Aurora Horizon Roadmap to Launch

Slide 74: ©2022 Aurora Proprietary

Slide 75: ©2022 Aurora Proprietary

Slide 76: Autonomy development platform

Slide 77: Pre-launch platform

Slide 78: Scalable, autonomy-enabled truck

Slide 79: Launch truck platform