Valens Semiconductor Investor Presentation — March 2022

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Valens Semiconductor

Forward -Looking Statements

Certain statements inthis presentation (this "Presentation") are forward -looking statements .“forward -looking statements ”within themeaning ofthe“safe harbor ”provisions oftheUnited States Private Securities Litigation

Reform Actof1995 .Forward -looking statements may beidentified bytheuseofwords such as“estimate, ”“plan, ”“project, ”“forecast, ”“intend, ”“will,”“expect, ”“anticipate, ”“believe, ”“seek, ”“target ”orother similar expressions

that predict orindicate future events ortrends orthat arenotstatements ofhistorical matters .These forward -looking statements include, butarenotlimited to,statements regarding theanticipated transaction and future

economic and market conditions .These statements arebased onvarious assumptions, whether ornotidentified inthis press release, and onthecurrent expectations ofValens ’management and arenotpredictions of

actual performance .These forward -looking statements areprovided forillustrative purposes only and arenotintended toserve as,and must notberelied onbyany investor as,aguarantee, anassurance, aprediction ora

definitive statement offact orprobability .Actual events and circumstances aredifficult orimpossible topredict and willdiffer from assumptions .Many actual events and circumstances arebeyond thecontrol ofValens .

These forward -looking statements aresubject toanumber ofrisks and uncertainties, including changes indomestic and foreign business, market, financial, political and legal conditions ;failure torealize theanticipated

benefits oftheproposed business combination ;future global, regional orlocal economic and market conditions ;thedevelopment, effects and enforcement oflaws and regulations ;Valens ’ability tomanage future growth ;

Valens ’ability todevelop new products and solutions, bring them tomarket inatimely manner, and make enhancements tothem ;theeffects ofcompetition onValens ’future business ;theoutcome ofany potential

litigation, government and regulatory proceedings, investigations and inquiries ;theeffects ofhealth epidemics, such astherecent global COVID -19pandemic, have had and could inthefuture have onValens ’revenue, its

employees and results ofoperations ;thecyclicality ofthesemiconductor industry ;Valens ’ability toadjust itssupply chain volume due tochanging market conditions orfailure toestimate itscustomers ’demand, including

during any downturn intheautomotive oraudio -video markets ;disruptions inrelationships with any one ofValens ’keycustomers ;difficulty selling products ifcustomers donotdesign Valens products into their product

offerings ;Valens ’dependence onwinning selection processes and ability togenerate timely orsufficient netsales ormargins from those wins ;political conditions inIsrael ;and those factors discussed inValens ’Form 20-F