Arbe Robotics Ltd.

Thank you. Good morning, everyone, and thank you for joining us. Please take a minute to review the forward-looking statement. In the third quarter, we made significant progress with our Tier 1 partners. In fact, we are excited to share recent news. We have received a mass production preliminary order from iRain for the next year, which officially marks the beginning of the next step of Arabe's journey into the mass production phase. I will go over this in more details shortly. Today, we would like to share with you a deeper understanding of Arbe's ecosystem and our strategy of focusing on Tier 1s is accelerating our progress. As many of you are aware, market conditions across the entire automotive industry are changing, causing some delays in customer launch plans. From the beginning, we made a decision to focus on driver assistance and safety, while keeping a realistic vision for the future of full autonomous driving, which we believe won't be commercially available before the end of the decade. To improve our resilience in these market conditions, we are reducing our costs, making sure that we are prepared to adapt to the longer timeframes of level two plus and level three ramp up. In the automotive industry, The Tier 1 suppliers do the heavy lifting of radar system development as well as tech integration for OEMs. The combination of Arabe's breakthrough imaging radar chipset with Tier 1's innovative technology results in advanced radar system that we believe will provide unmatched safety to the industry. I want to share with you the perspective of some of our Tier 1 partners in their own worlds. After five years of extensive research among 4D radar chipset developers across the globe, Veoneer, a world leader in automotive safety, chose to partner with ARBE. The combination of ARBE's patented imaging radar chipset and Veoneer's patented waveguide technology will push the boundaries of perception performance. We are honored to have been selected by Veoneer, who intend to provide the automotive industry with revolutionary radar-based solution, ensuring unmatched safety level 2 plus and higher autonomy. Let's hear what Chris Van Den Elzen, the executive vice president of the radar product area, had to say about Veoneer's expectations for imaging radar, the role in the industry, and the added value of Arbe's chipset.

My name is Chris Van Den Elzen, and I'm the Executive Vice President of the Radar Product Area at V&EAR. V&EAR is a world leader in automotive safety. We participate in the market segments of active safety and restraint control systems as a Tier 1 hardware supplier and systems integrator. We were founded in 2018 as a spinoff from Autoliv, and we have close to 70 years of automotive safety development. The radar portion of the IN-EAR dates back into the early 1990s. We were one of the first to launch radar adaptive cruise control in 1999 with Mercedes and have built the product line up to having 16 customers around the world. in every segment of radar from corners to front looking, rear looking. V&A was looking at this new segment that's growing in the radar world around imaging radars. And we had been tech scouting this space for the past five years, looking at new technologies and startups that are bringing innovations in this space. And after researching multiple companies and multiple approaches to the technology, B&E chose the Arvade chipset because of a couple of main points. One is the strength and the power of the capability of this chipset to do unique use cases like trying to get through a toll booth and determining if it's occupied or the arm is down. In addition to that, the business model around being able to use their chips and create a unique radar for V&EAR really fits within our business model of being a tier one and bringing that value to the OEM. In terms of the imaging radar market, we see this as an expanding new space. Customers today are implementing three to five radars per car. in a base case just to meet the five-star program. Going forward, to be able to meet the use cases of having the vehicle do more and more levels of autonomy when you push that cruise control button, we see the need for imaging radars looking at great distances with great accuracies. The number of customers that are already asking for information about this leading up to designs that will turn into a request for quotation is numerous. And it's around the world. It's not one location or one segment of automotive. We're seeing this across the board. B&R has just signed an agreement with Arbe to expand into this new and growing market. We look forward to our time together establishing our space and our portion of this fantastic opportunity.

In a separate statement, Chris added, Veoneer is now passing 50 million radars produced and we see the overall market growing to roughly 250 million per year by the end of the decade. As this market grows overall and the imaging radar segment of the market rapidly grows with it, we are looking forward to the journey together with Arbe. High-definition radar is an important part of advanced ADAS. Valeo, the world's leading ADAS Tier 1 player, has also selected ARBES chipset for its radar systems. We are very excited to be partnered with such technological leader in areas that are at the heart of the transformation of the automotive industry and sustainable mobility across the globe. Valeo is a leader in the LiDAR market. Adding imaging radar to its offering contributes to comprehensive sensor suit, which is highly important for OEMs. Martin Mandry, the vice president of the ranging sensor product line of Valeo, shares a few thoughts about the opportunity for imaging radars and how Valeo's solution with Arbe's chipset stands out.