Valens Semiconductor Investor Presentation — May 2022

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Valens Semiconductor

Forward -Looking Statements

Certain statements inthis presentation (this "Presentation") are“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 future economic and market conditions .These statements arebased

onvarious assumptions, whether ornotidentified inthis Presentation, and onthecurrent expectations ofValens ’management and arenotpredictions ofactual performance .These forward -looking statements areprovided

forillustrative purposes only and arenot intended toserve as,and must not berelied onbyany investor asaguarantee, anassurance, aprediction oradefinitive 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 thecyclicality ofthesemiconductor industry ;theeffects ofhealth epidemics, such astherecent global COVID -19pandemic ;the

impact oftheglobal pandemic caused byCOVID -19onour customers’ budgets and oneconomic conditions generally, aswell asthelength, severity ofand pace ofrecovery following thepandemic; competition inthe

semiconductor industry, and thefailure tointroduce new technologies and products inatimely manner tocompete successfully against competitors ;ifValens fails toadjust itssupply chain volume due tochanging market

conditions orfails toestimate itscustomers ’demand; disruptions inrelationships with any one ofValens ’keycustomers ;any difficulty selling Valens ’products ifcustomers donot design itsproducts into their product

offerings; Valens ’dependence onwinning selection processes; even ifValens succeeds inwinning selection processes foritsproducts, Valens may notgenerate timely orsufficient netsales ormargins from those wins ;

sustained yield problems orother delays inthemanufacturing process ofproducts ;our ability toeffectively manage, invest in,grow, and retain oursales force, research and development capabilities, marketing team and

other keypersonnel ;ourability totimely adjust product prices tocustomers following price increase bythesupply chain; ourability toadjust ourinventory level due tosudden reduction indemand due toinventory buffers