Aurora Innovation, Inc. · NASDAQ:AUR

Aurora Innovation — Investor Day (September 2026)

49 slides from Aurora Innovation's investor day presentation, Sep 23, 2026

Slide 1: Revolutionizing how goods move: 2026 Analyst & Investor Day
©2026 | AURORA PROPRIETARY z Revolutionizing how goods move 2026 ANALYST & INVESTOR DAY 2026 ANALYST & INVESTOR DAY Exhibit 99.2
Slide 2: Welcome and Agenda
©2026 | AURORA PROPRIETARY Welcome Stacy Feit, VP  Investor Relations Agenda Driving the inflection Chris Urmson, Co-Founder and CEO Driverless customer panel Detmar Logistics, McLane and Werner Moderated by: Ossa Fisher, President Driverless Ride-Alongs and Activations Closing remarks and Q&A Chri
Slide 3: Cautionary statement regarding forward-looking statements
©2026 | AURORA PROPRIETARY [FLS to be added by Legal] Cautionary statement regarding forward-looking statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws. The words “believe,ˮ “may,ˮ “will,ˮ “estimate,ˮ “continue,ˮ “anticipate,ˮ “
Slide 6: Incubation to tip curve: industrial inflection point
©2026 | AURORA PROPRIETARY Incubation → tip curve Industrial inflection pointIncubation period Invention creates possibility Industrialization creates inevitability Every paradigm shift in global movement follows a similar curve.
Slide 7: Autonomous vehicles have been on a 20+ year journey
©2026 | AURORA PROPRIETARY Incubation → tip curve Autonomous vehicles have been on a 20+ year journey From DARPA Challenges to making real impact on the road.
Slide 8: Trucking is our first application
©2026 | AURORA PROPRIETARY Trucking is our first application Massive addressable market Critical need with further tightening driver supply Attractive unit economics Leverages existing infrastructure → → → →
Slide 9: We have all of the elements to drive our commercial inflection
©2026 | AURORA PROPRIETARY We have all of the elements to drive our commercial inflection Software Verifiable AI proven on public roads Supply Multi-platform strategy supports accelerating ramp Demand Committed & compounding Hardware Industrialized: Step-function scaling & cost reductions
Slide 10: Unmatched ecosystem
©2026 | AURORA PROPRIETARY Unmatched ecosystem We'll deliver the same transformative scale through platform leverage. We provide the technology while our world-class partners and suppliers build the trucks, provide the hardware, and move the freight. Autonomous Solutions BEST IN CLASS OEMS INDUSTRY-
Slide 11: Our foundation is set
©2026 | AURORA PROPRIETARY Incubation → tip curve Our foundation is set We expect the Aurora Driver to follow the same curve. Industrial inflection pointIncubation period
Slide 12: The generalized Aurora Driver
©2026 | AURORA PROPRIETARY 02 The generalized Aurora Driver CHRIS URMSON, VEER NAIRYANI z
Slide 13: Only company scaling driverless commercial long-haul trucking on U.S. public roads
©2026 | AURORA PROPRIETARY Aurora is the only company scaling driverless commercial long-haul trucking on public roads in the U.S. SOFTWARE Verifiable AI HARDWARE Industrialized SUITE OF SERVICES Seamless Integration Aurora Driver
Slide 14: The Aurora Driver addresses multiple industry challenges at once
©2026 | AURORA PROPRIETARY The Aurora Driver addresses multiple industry challenges at once. Trucking is a hard business Workforce Instability: Tightening driver capacity, aging workforce, and high turnover Asset Inefficiency: Hours-of-service limitations Safety Toll: Thousands of preventable fatali
Slide 15: The Aurora Driver is transformational across core dimensions of freight
©2026 | AURORA PROPRIETARY The Aurora Driver is transformational across the core dimensions of freight Safety The most dangerous part of the supply chain, made safer and less costly to insure with every mile. Capacity & flexibility Scalable on demand. Utilization Unlocking nearly 24/7 operations. To
Slide 16: Delivering real world value to customers today
©2026 | AURORA PROPRIETARY Weʼre delivering real world value to customers today, establishing a foundation that will compound as our network scales Annual run-rate >225,000 miles / truck for McLane, Werner & others 2x increase in trips / day for Detmar SAFETY UTILIZATION (LONG-HAUL) UTILIZATION (SHO
Slide 17: Fully allocated to exit 2026 with 200 driverless trucks
©2026 | AURORA PROPRIETARY In the near-term, we're fully allocated to exit 2026 with 200 driverless trucks in operation on our existing routes
Slide 18: Accelerating verification and validation process
©2026 | AURORA PROPRIETARY Generalized technology and a proven, accelerating verification & validation process position the Aurora Driver for rapid route and customer facility expansion to support 2027+ demand VALIDATION TIME PER ROUTE 6 mo SECOND ROUTE 6 wks TODAY 6 days LOOKING AHEAD EACH SQUARE =
Slide 19: The Aurora Driver will power a virtuous economic cycle
©2026 | AURORA PROPRIETARY The Aurora Driver will also power a virtuous economic cycle Builds supply chain resilience Lowers consumer prices Drives job creation → → →
Slide 21: Engineered to be one of the safest drivers on the road
©2026 | AURORA PROPRIETARY The Aurora Driver is engineered to be one of the safest drivers on the road – and has been evaluated by trusted safety experts
Slide 22: Total cost of ownership value proposition
©2026 | AURORA PROPRIETARY In addition to enhancing safety and supplementing driver capacity, our product is designed to deliver a compelling total cost of ownership (TCO) value proposition 1 Conventional Cost per Mile per ATRI report for 2025, as of July 2026; includes $0.15/mile of estimated indir
Slide 23: The Aurora Driver's economic value
©2026 | AURORA PROPRIETARY The Aurora Driverʼs economic value is undeniable Top-Line: Increased revenue per truck with potential to more than double asset utilization. Margin Expansion: Meaningful TCO benefits. “Maximizing asset uptime is the ultimate competitive edge in today's market. Integrating
Slide 24: Higher utilization and lower TCO can double revenue
©2026 | AURORA PROPRIETARY 6x 2x Higher utilization and lower TCO with the Aurora Driver can double revenue and drive meaningful margin expansion Illustrative Example: One truck, one year of operation on the Fort Worth - Phoenix route. Conventional Aurora Driver $340,000 $680,000 $30,000 $190,000 Co
Slide 25: Seamlessly integrating driverless operations into customers' businesses
©2026 | AURORA PROPRIETARY Seamlessly integrating driverless operations into our customersʼ businesses
Slide 26: Driverless Customer Panel
©2026 | AURORA PROPRIETARY Driverless Customer Panel Matt Detmar DETMAR LOGISTICS Eric Hildenbrand MCLANE Daragh Mahon WERNER CHIEF EXECUTIVE OFFICER CHIEF STRATEGY OFFICER EVP & CHIEF INFORMATION OFFICER Ossa Fisher AURORA PRESIDENT
Slide 28: Second generation commercial hardware kit manufactured by Fabrinet
©2026 | AURORA PROPRIETARY Manufactured by Fabrinet, our second generation commercial hardware kit is on the road today — more reliable, lower cost, and designed to scale to 1,500 trucks
Slide 29: Roush ramping to supply 1,000 upfit trucks per year
©2026 | AURORA PROPRIETARY Our upfitter, Roush, is ramping to supply 1,000 upfit trucks per year — first equipped with our Gen 2 hardware kit — with potential to increase that capacity
Slide 31: Hardware integrated lineside at Volvo's New River Valley plant
©2026 | AURORA PROPRIETARY Our Gen 2 hardware is also now being integrated lineside at Volvoʼs New River Valley, VA plant
Slide 32: Partnering with AUMOVIO for automotive-grade hardware
©2026 | AURORA PROPRIETARY Weʼre partnering with AUMOVIO to deliver the industrialized, automotive-grade hardware necessary to power tens of thousands of autonomous trucks Asset-light model and projected per mile hardware cost support SaaS-like gross margin objective.
Slide 33: Vehicle-agnostic, multi-platform model
©2026 | AURORA PROPRIETARY Our vehicle-agnostic, multi-platform model aligns with customersʼ diverse fleet preferences and supports our 2027-2028+ scaling roadmap Lineside integration with Volvo underway Future lineside integration with PACCAR Driverless trucks upfit by Roush VOLVO VNL AUTONOMOUS PE
Slide 34: Partnership Ecosystem Panel
©2026 | AURORA PROPRIETARY Jeremy McClain AUMOVIO Noelle Onstad PACCAR Brad Rzetelny ROUSH Partnership Ecosystem Panel Sasko Cuklev VOLVO AUTONOMOUS SOLUTIONS GLOBAL VP, AUTONOMOUS MOBILITY SYSTEMS, SOFTWARE AND SERVICES GENERAL MANAGER, PACCAR INNOVATION CENTER VP, CONTRACT MANUFACTURING, ADVANCED
Slide 35: Insurance and liability is not an unknown
©2026 | AURORA PROPRIETARY Insurance and liability is not an unknown NAT BEUSE, HELEN CHUE
Slide 36: Insurance Fireside Chat
©2026 | AURORA PROPRIETARY Chris Moore APOLLO CHIEF UNDERWRITING OFFICER, APOLLO IBOTT 1971 David Maday AURORA CHIEF FINANCIAL OFFICER Insurance Fireside Chat
Slide 38: ~$1 trillion U.S. TAM with attractive unit economics
©2026 | AURORA PROPRIETARY ~$1 trillion 1 CSCMPʼs Annual State of Logistics Report, 2026 With attractive unit economics and significant need for this technology U.S. TAM 1The massive U.S. freight market presents an opportunity for unmatched value creation in autonomy 60B VMT SAM by 2028
Slide 39: Delivering on our roadmap
©2026 | AURORA PROPRIETARY Revenue FY26 Revenue (E): $14-16M FY26 Exit Revenue Run-Rate (E): $80M Fleet Expansion Scaling to 1,000 Truck Upfit Capacity with Roush Weʼre delivering on our roadmap Driverless Miles 500,000+ Driverless Miles since Commercial Launch
Slide 40: Hitting our commercial inflection point at the end of this year
©2026 | AURORA PROPRIETARY FL EE T SI ZE 2026 2027 2030 Anticipate exiting 2026 with 200 driverless trucks Anticipate exiting 2027 with >1,000 driverless trucks Expect >30K trucks in 2030 TaaS DaaS Utilization ~200K miles/year Hitting our commercial inflection point at the end of this year paves the
Slide 41: TaaS provides proof of concept, DaaS is our growth engine
©2026 | AURORA PROPRIETARY Utilization ~200K miles/year Transportation as a Service (TaaS) provides proof of concept, Driver as a Service (DaaS) is our growth engine ~250K miles/year TaaS Demonstrates the potential of the Aurora Driver DaaS Asset-light model accelerates scaling with high-margin reve
Slide 42: Targeting breakeven gross margin in 1H 2027 at ~500 trucks
©2026 | AURORA PROPRIETARY We are targeting breakeven gross margin on a run-rate basis in 1H 2027 at ~500 trucks Scale fleet Cost reduction levers Revenue drivers Increase utilization Expand SAM Realize labor & support efficiencies Deliver primarily between customer locations Capture second generati
Slide 43: Revenue growth and margin expansion from 2027 to 2030
©2026 | AURORA PROPRIETARY $200M From 2027 to 2030, we expect significant revenue growth and margin expansion — exiting 2028 with positive free cash flow on a run-rate basis Estimated Annual Revenue & Gross Margin 2030 $5B 20292028 Gross Margin % Positive GM% Revenue 2027 $200M 60%
Slide 44: Return on operating expenses and capital efficiency
©2026 | AURORA PROPRIETARY As we scale through 2030, we expect to deliver compelling return on operating expenses and capital efficiency SG&A to increase, supporting commercial growth SG&A % Revenue in 2030 7% Steady R&D investment, enabling capital-efficient growth Revenue per R&D Dollar in 2030 7x
Slide 45: Our 2030 Vision
©2026 | AURORA PROPRIETARY Our 2030 Vision SAM Expansion 150B+ VMT ~40x growth from today Fleet Scale 30k+ Expected driverless trucks in operation Revenue $5B+ Projected annual revenue Unit Economic Profitability ~60% Target gross margin R&D Efficiency 7x Anticipated revenue return on R&D investment
Slide 46: Revolutionizing how goods move
©2026 | AURORA PROPRIETARY z Revolutionizing how goods move 2026 ANALYST & INVESTOR DAY
Slide 47: We have all the elements
©2026 | AURORA PROPRIETARY Aurora Driver-powered trucks, todayIncubation period We have all the elements: Software: Verifiable AI proven on public roads Hardware: Step-function scaling & cost reductions Supply: Multi-platform strategy supports accelerating ramp Demand: Committed and compounding Auro
Slide 48: Trucking is our first commercial application
©2026 | AURORA PROPRIETARY Trucking is our first commercial application — our foundation in safety-critical Physical AI positions Aurora to power adjacent markets over the long-term

Aurora Innovation — Investor Day (September 2026) on 6ix

Aurora Innovation — Investor Day (September 2026)

Slide 1: Revolutionizing how goods move: 2026 Analyst & Investor Day

Slide 2: Welcome and Agenda

Slide 3: Cautionary statement regarding forward-looking statements

Slide 4: ©2026 | AURORA PROPRIETARY

Slide 5: Revolutionizing how goods move

Slide 6: Incubation to tip curve: industrial inflection point

Slide 7: Autonomous vehicles have been on a 20+ year journey

Slide 8: Trucking is our first application

Slide 9: We have all of the elements to drive our commercial inflection

Slide 10: Unmatched ecosystem

Slide 11: Our foundation is set

Slide 12: The generalized Aurora Driver

Slide 13: Only company scaling driverless commercial long-haul trucking on U.S. public roads

Slide 14: The Aurora Driver addresses multiple industry challenges at once

Slide 15: The Aurora Driver is transformational across core dimensions of freight

Slide 16: Delivering real world value to customers today

Slide 17: Fully allocated to exit 2026 with 200 driverless trucks

Slide 18: Accelerating verification and validation process

Slide 19: The Aurora Driver will power a virtuous economic cycle

Slide 20: ©2026 | AURORA PROPRIETARY

Slide 21: Engineered to be one of the safest drivers on the road

Slide 22: Total cost of ownership value proposition

Slide 23: The Aurora Driver's economic value

Slide 24: Higher utilization and lower TCO can double revenue

Slide 25: Seamlessly integrating driverless operations into customers' businesses

Slide 26: Driverless Customer Panel

Slide 27: ©2026 | AURORA PROPRIETARY

Slide 28: Second generation commercial hardware kit manufactured by Fabrinet

Slide 29: Roush ramping to supply 1,000 upfit trucks per year

Slide 30: ©2026 | AURORA PROPRIETARY

Slide 31: Hardware integrated lineside at Volvo's New River Valley plant

Slide 32: Partnering with AUMOVIO for automotive-grade hardware

Slide 33: Vehicle-agnostic, multi-platform model

Slide 34: Partnership Ecosystem Panel

Slide 35: Insurance and liability is not an unknown

Slide 36: Insurance Fireside Chat

Slide 37: z ●

Slide 38: ~$1 trillion U.S. TAM with attractive unit economics

Slide 39: Delivering on our roadmap

Slide 40: Hitting our commercial inflection point at the end of this year

Slide 41: TaaS provides proof of concept, DaaS is our growth engine

Slide 42: Targeting breakeven gross margin in 1H 2027 at ~500 trucks

Slide 43: Revenue growth and margin expansion from 2027 to 2030

Slide 44: Return on operating expenses and capital efficiency

Slide 45: Our 2030 Vision

Slide 46: Revolutionizing how goods move

Slide 47: We have all the elements

Slide 48: Trucking is our first commercial application

Slide 49: ©2026 | AURORA PROPRIETARY