Cipia Vision Ltd.

Investor Presentation • Sep 13, 2023

() cıpıa COMPUTER VISION AI FOR IN-CABIN SENSING

Company presentation | September 2023

Cipia Vision Ltd

DISCLAIMER

• This presentation was prepared by Cipia Vision Ltd. (the "Company") as a general presentation regarding the Company. This presentation is not intended as a substitute for inspection of the Company's formal reports as required under the provisions of t he law, including, among others, the Company's annual report for the year 2022, as published on March 13, 2023, and the Company's semi-annual report for the period ended June 30, 2023, as publ ished on August 20, 2023, and any subsequent immediate reports (the "Company Reports"). To the extent that there are any contradictions between this presentation the Company Reports as required pursuant to any law, the Company Reports shall prevail.
• The information included in the presentation does not constitute advice, nor does it form a recommendation or opinion about any investment and does not constitute an offering or an invitation to purchase securities of the Company, and does not substitute the need for independent review and personal advice in accordance with the specific circumstances of each investor.
• This presentation does not constitute or embody part of any offer or invitation to purchase securities of the Company and does not constit ute or embody part of the invitation to receive such offers, and, in particular, does not constitute an "offer to the public" or "sale to the public" of any kind. Such an offer shall be made only in accordance w ith the provisions of the law, after obtaining the necessary permits from the Israeli Securities Authority and the Tel-Aviv Stock Exchange.
• This presentation may include Forward-Looking Information, as defined in the Securities Law, 5728-1968, including forecasts, estimates, assessments and other information pertaining to future events. In certain circumstances, one may identify Forward-Looking Information where use of certain words or phrases is made, including "expected", "believe", "may" "appreciate that (something may happen)", "expect", "intend" "continue" "can" "may" "plan", or other similar phrases or words. The Forward-Looking Information in this presentation is based on subjective assessments by the Company's management as of the date of this presentation, which although the Company believes to be reasonable, are inherently uncertain. Forward-Looking Information involves risks or uncertainties, including factors beyond the Company's control, each of which, or a combination of which, as well as the realization of any of the risk factors characterized by the Company's operations, may materially impair the Com pany's results and cause actual results to differ materially from the Forward-Looking Information. All Forward-Looking Information is solely aimed at the date to which it relates. Except for the obl igation to disclose information as required by applicable securities laws, the Company does not undertake to update or change any information contained in this presentation, whether as a result of new information, future events or other reasons. It is also clarified that the Company's business plans and strategy included in this presentation are accurate as of the date of this presentation and may change in accordance with resolutions of the board of directors of the Company, as may be resolved from time to time.
• Other than trademarks that are owned by the Company or which the Company has the right to use, the trademarks included in this presentation are the property of their owners and are used in this presentation for the purpose of understanding the context only. The use of such trademarks may not be construed as approval or verification in relation to the Company's software, services, or securities.
• For the avoidance of doubt, the Company does not undertake to update the information contained in t his presentation.
• This presentation includes only partial information, which the Company saw fit to share with its shareholders and the general public investing in the Company's securities. It is possible that the manner in which the information contained in the presentation is presented is different from the manner in which this information is included in publications in the Company's reports. This presentation includes a summary of the topics described in it, in the context in which they are discussed, and not the full information available to the Company in relation to these topics. This presentation does not include the f ull results and financial information of the company and the explanations to them, and/or the Company's business plans or the description of all the Company's activities and/or risk factors that apply to the Company and is not intended to replace the need to review Company Reports.

CIPIA: FOCUS ON DRIVER AND CABIN MONITORING

Click to watch video

LEADING IN-CABIN SENSING PROVIDER

*As of August 15, 2023. It is clarified, that the Forecasted Life Cycle Value (LCV) From Signed Agreements is based on forecasts received by the Company from the manufacturer. However, the Company estimates that the level of certainty of the Forecasted LCV from Signed Agreements from the sale of hardware (cameras) is lower than that from the sale of software, due to the availability of alternative hardware in the market. The agreements do not require minimum quantity. Cipia Vision Ltd

THE PROBLEM BEHIND THE STEERING WHEEL O c1p1a

1,350,000

Die in road accidents annually

World Health Organization

Administration

21%

Fatal collusions are caused by drowsiness

American Automobile Association

2023-2025

2024-2026

2022

misuse

*Regulation and safety standards do not require driver monitoring to be performed using video analysis (i.e., camera), with 'the exclusion of China.

2023

INCREASING DEMAND AMONG OEMS FOR DRIVER MONITORING

Source: https://www.alliedmarketresearch.com/driver-monitoring-systems-market

Vehicles sold annually

CIPIA'S IN-CABIN SENSING SOLUTIONS O c1p1a

Driver monitoring software (may be accompanied by a camera) for automotive OEMs

Driver monitoring device for telematics service providers and fleets

Cabin monitoring software (under development) for automotive OEMs

Safety

Safety & fleet optimization

Safety & convenience

ADVANCED COMPUTER VISION AI TECHNOLOGY

2) ា (+ 000 / (0) Camera Attentive Awake Seatbelt Phone Smoking

FPS : 30 Person ID : Tal AOI : 5 Eye Mode : SACCADE Real Driver : YES

THE NEED FOR DMS RISES WITH THE AUTONOMY LEVEL O c1p1a

Cipia's Driver Sense addresses DMS regulatory requirements and safety standards at levels 0 - 3

CIPIA-FS10 DEVICE - SMART FLEET MANAGEMENT

Targeting telematics service providers

DRIVER ALERTS

• · Safety alerts (distraction, drowsiness, seatbelt, phone)
• · Compliance (smoking, seatbelt, phone)
• Dispute resolution

SMARTER FLEET MANAGEMENT

• Real time alerts
• " Driver ID
• Workforce management
• Compliance
• Driver scoring
• Accident investigation
• Tamper detection

AUTONOMY IS A GROWTH ENGINE O c1p1a

Source: Automotive Data Monetisation Pricing and Business Models, Frost & Sullivan, October 2017

EACH PLATFORM REPRESENTS MULTl-MODEL POTENTIAL

TOP 3 PLAYERS IN THE DMS MARKET

	OEMs	Platforms	Models	Positioning	Market cap
O c1p1a	8	12	50	Lean hardware & strategic partnerships	TASE: CPIA N\$30M
smart eye	19	?	217	#of OEMs	Nasdaq Nordic: SEYE N\$160
seeingmachines	10	15	160	#of miles accumulated through TSP business	AIM: SEE N\$313

Customer data source: Smart Eye source (March 7, 2023) and Seeing Machines source (January 2, 2023) Market cap source: respective stock exchange data as of August 14, 2023

Cipia Vision Ltd

BUSINESS MODEL O c1p1a

*Based on safety standards and regulation, the market is adopting DMS at a faster pace (previously reported as 1 - 3 years).

**Price increase reflects ADAS ready and connected units.

***Assuming 50% of vehicles will make use of Cipia's cloud.

DRIVER SENSE: CONTINUOUS GROWTH

4 OEMs already in serial production

H1 2023 ACHIEVEMENTS O c1p1a

Financials compared to H12022

in gross profit compared to H1 2022

in gross margin compared to H1 2022

Units compared to end of 2022

in awarded vehicle models*

in vehicle manufacturers (OEMs) choosing company products*

*As of August 15, 2023.

FINANCIAL REPORTS

Profit & Loss (thousands of USD)	June 2023	2022	2021	2020
Total Revenues	2,499	5,329	4,779	1,741
Gross Profit		1,167	1,893	641
Gross margin	34%	22%	40%	37%
R&D expenses	2,610	5,292	5,002	3,801
S&M expenses	1,518	4,412	3,478	2,426
G&A expenses	1,648	3,112	2,725	1,012
Total Operating expenses	5,776	12,816	11,205	7,239
Financial expenses (income)	713	1,256	(9,399)	*9,516
Profit (loss) before taxes	(5,649)	(12,905)	87	(16,114)
Balance Sheets
Cash and equivalents	10,491	16,155	19,767	3,858
Inventory	1,317	1,839	1,755	-
Loans from Bank	869	1,220	1,965	633
Derivative Financial Instruments	-	-	-	19,670
Preferred equity (Liability)	-	-	-	51,371

* Based mainly on financial instruments and converting them to equity in 2021

\$97.5M RAISED IN TOTAL

Years	Round	Main investors
2022	PIPE	Institutional & private investors (existing & new)	\$11.7mm
2021	IPO (Inc. Pre-IPO)	Institutional investors	\$26mm
2020	Convertible Loan	Jebsen Group, Grupo Antolin	\$8.5mm
2016-2018	Series D	Jebsen Group, Arie Capital, Smart Gesture, private investors	\$30mm
2014-2015	Series C	Mitsui & others	\$12mm
2011-2013	Series B	Mitsui & others	\$7mm
2007-2010	Series A	Private investors	\$3mm

MANAGEMENT

Yehuda Holtzman CEO	35+ years experience of executive management & entrepreneurship in the tech industry	'1J mobilogy
Tai Krzypow VP Product & Strategy	15+ years experience of global scale software products	1• Microsoft
Shelly Mesilati CFO	15+ years experience of financial management Including capital raising for tech companies	oversi
Erez Steinberg CTO	20+ years experience of development activities Including hardware and software	.,,,,. : " freesca/e· semiconductor
Guy Tsafrir VP R&D	25+ years experience of software development and management	cognata SAMSUNG - GE HealthCare
Israel Ronn VP Telemetry & Fleets	30+ years experience of executive management in the automotive industry	spotam Luu/SL T@18COrT1 PC!> INTEll
Liat Rostock VP Marketing	One of Cipia's earliest employees with 10+ years of marketing experience	O c1p1a

BOARD OF DIRECTORS O c1p1a

Bringing automotive, Al technology and financial experience to support the company's growth

Prof. Eli Talmor	Gal Shmueli	Dr. Thomas Wetzer	Dr. Seshu Bhagavathula	Orit Lerer	Alejandro Weinstein	Prof. Eli Amir
25+ years in Private Equity and Venture Capital	Colonel and technology leader in elite intelligence military units	10+ years experience in growth capital investments including Asia	30+ years in automotive tech and sensing (20 at Daimler)	40+ years of executive management in Bank Hapoalim	Partner and founder of Olive Tree Ventures	30+ years in financial accounting
Senior Professor at London Business School	Founder of several startups with \$1.6B exits	GM of Jebsen Capital	CTO and President at Ashok Leyland Group	Rich financial and managerial experience in global corporations	Led, as CEO and entrepreneur, billions of dollars M&A deals	Senior Professor at Coller School of Management and Accounting Chair

and visiting prof. at London Business

School

JOIN THE GROWTH

* The contracts do not require minimum quantity. Please see slide 4 for additional information regarding schedule and assumptons.

Cipia Vision Ltd

www.cipia.com

info@cipia.com