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The merger combines two of the world’s leading light detection and ranging (LIDAR) companies, creating a revolutionary, leading-edge company poised to deliver the next generation of autonomous vehicle innovation, said Luminars founders Louay Eldada and Russell Hollingworth.

With Gores Metropoulos, Luminar will expand its laser hardware portfolio, broaden its customer base and accelerate its autonomous vehicle development platform. As a member of the Metropoulos family, Luminar will benefit from their deep experience in automotive and other industry sectors. Among other platform technologies and systems, they will also benefit from Luminars suite of adaptive cruise control and lane keep assist, the highest volume and fastest-growing products in the automotive industry today.

At the same time, the transaction will offer tremendous opportunities for the Gores investment partners, including Alec Gores, who will transition from co-founder and Managing General Partner of Gores Investment Partners to Executive Chairman of the Board; Dean Metropoulos, who will become Executive Chairman of Luminars Board of Directors; and the Gores Investment Partnership, who will become investment partners of Luminar.

With five years of positive momentum, all-star team and a proven path to scale, the merger will create an industry-leading company with the assets, talent and financial strength to accelerate the ultimate goal of auto transport: fully-autonomous vehicles that mitigate traffic congestion and support an efficient and safe transportation system. Powered by the innovative and disruptive Luminar LIDAR technology, the luminar.ai platform will enable an all-new market segment that will catapult the company towards success and growth.

In November 2018, the company entered into an agreement to acquire Nvest, whose suite of products includes super-resolution software that provides unprecedented 3D image resolution. This is helping Luminar to deploy its tech with OEMs and enables more precise mapping, processing, and navigation in real time.

Luminar is an autonomous vehicle sensor and software company with the vision to make self-driving safe and ubiquitous by delivering the only lidar and perception platform that meets the industrys stringent performance, safety, and economic requirements. Luminar has rapidly gained 50 industry partners, including 7 of the top 10 global automotive OEMs. Founded in 2012, Luminar is a 350-person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich.

Luminar is an autonomous vehicle sensor and software company with the vision to make self-driving safe and ubiquitous by delivering the only lidar and perception platform that meets the industrys stringent performance, safety, and economic requirements. Luminar has rapidly gained 50 industry partners, including 7 of the top 10 global automotive OEMs. Founded in 2012, Luminar is a 350-person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. For more information visit www.luminartech.com.

Yu is the Founder of Luminar. Previously he was the co-founder and CEO of Fellow Robots, Inc., a consumer robot company acquired by Disney in 2015. Prior to Fellow Robots, he was the co-founder and CTO of Kuka Robotics, where he led the company towards autonomous vehicle and robot product development.

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Neither Gores Metropoulos nor Luminar guarantees, and each of them disclaims any responsibility to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The price of the transaction is based on a calculated implied valuation of Luminars most recent equity financing exercise in September 2018, at $83.6 million in a fully secured revolving credit facility, and the 0.2584 common shares of Luminarrs Class A common stock Gores Metropoulos is required to purchase.

Gores Metropoulos and Luminar believe that the value of Luminarrs highest risk, highest reward technology and intellectual property, including its laser system which is currently the only self-driving prototype Lidar capable of meeting today s safety standards for highway self-driving.

Based in Stuttgart, Germany, Luminar is a global leader in automotive lidar hardware and software technology. The company brings together the most advanced, powerful, and cost-effective lidar technologies from over 60 suppliers. Luminars proprietary sensor platform and software stack enables the first true turn-key automotive lidar solution. Luminar is the first company in the automotive industry to publish a self-driving vehicle system, and the company has already delivered on its promise by launching a commercial version of their platform. In 2018, Luminar closed its Series C funding round and since then has grown from 5 people to 350, adding top industry talent and strategic partners. Luminar is currently testing its platform on an autonomous car prototype, and plans to have a fully autonomous vehicle running on public roads by 2022.

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• New Hardware Specification
• New Platform
• Core: fully redesigned from the ground up
• Fully supports Apple-released CarPlay
• Portable WiFi UICC with improved GPS
• Re-targeted for the environments of the OEMs
• Solutions for all major autonomous technologies
• Macro Blocks

• Supports more vehicles, including the recent Toyota Camry, Chevrolet Traverse, Cadillac CT6, Subaru Forester, Lincoln MKC, Jeep Compass, Jeep Patriot, Ford Fusion, Ford Escape, Honda Accord, Honda Odyssey, Honda Ridgeline, Toyota Tacoma, BMW X1, and Volvo S90
• Hardware support for most of the above vehicles
• Supports car-to-car technology
• Adds Improved door detection and improved handwriting recognition

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