¹ Cash balance includes, cash, cash equivalents, restricted cash and short-term investments as of December 31, 2022; expected annualized cost savings in excess of $75 million are based on standalone cost structures as of September 30, 2022.

² Billings represents the dollar value of products and services provided during the current period and invoiced to the customer. Velodyne management used this metric to track commercial growth, establish performance targets and make budgetary and operating decisions. Billings excludes the effect of the contra revenue recognized in connection with the Amazon warrants.

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