Rivian InvestorDay

Rivian Investor Day
June 27, 2024
Rivian Investor Day 2024

Forward-Looking Statements
This presentation and accompanying statements that are made during our 2024 Investor Day contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements
contained in this presentation and accompanying statements that are made during our 2024 Investor Day that do not relate to matters of historical fact should be considered forward-looking statements, including without
limitation statements regarding our future operations, initiatives and business strategy, our cost reduction strategy and expectations regarding cost savings, our future financial results, vehicle profitability and future gross
profits, our anticipated LCNRV charges, the planned use of our cash and cash equivalents, our future capital expenditures, the underlying trends in our business, our market opportunity, and our potential for growth, our
production ramp and manufacturing capacity expansion and anticipated production levels, our expected future production and deliveries, our anticipated production and timing of launching the R2 platform in Normal,
timing of construction at our Georgia site, scaling our service infrastructure, our expected future products and technology and product enhancements (including R2, R3, and R3X, as well as our next generation RAN
charger), our partnership with the Volkswagen Group (which remains subject to the formation of the joint venture, Rivian and Volkswagen Group executing definitive agreements, the achievement of certain milestones, and
the receipt of regulatory approvals), potential expansion of commercial van sales, including pilot programs for our commercial vans, and revenue opportunities. These statements are neither promises nor guarantees and
involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements
expressed or implied by the forward-looking statements, including, but not limited to: our history of losses as a growth-stage company and our limited operating history; we may underestimate or not effectively manage our
capital expenditures and costs; we will require additional financing and capital to support our business; our ability to maintain strong demand for our vehicles and attract and retain a large number of customers; risks relating
to the highly competitive automotive market, including competitors that may take steps to compete more effectively against us, including with respect to pricing and features, and impact of competition and macroeconomic
conditions on product demand; consumers’ willingness to adopt electric vehicles; we may experience significant delays in the manufacture and delivery of our vehicles; we have experienced and could continue to
experience cost increases or disruptions in supply of raw materials or other components used in our vehicles; our dependence on suppliers and volatility in pricing of components and raw materials; our ability to accurately
estimate the supply and demand for our vehicles and predict our manufacturing requirements; our ability to maintain our relationship with one customer that has generated a significant portion of our revenue; we are highly
dependent on the services and reputation of our Founder and Chief Executive Officer; our inability to manage our future growth effectively; our long-term results depend on our ability to successfully introduce and market
new products and services; we may not succeed in establishing, maintaining, and strengthening our brand; our focus on delivering a high-quality and engaging Rivian experience may not maximize short-term financial
results; risks relating to our distribution model; we rely on complex machinery, and production involves a significant degree of risk and uncertainty; our vehicles rely on highly technical software and hardware that could
contain errors or defects; we may not successfully develop the complex software and technology systems needed to produce our vehicles; inadequate access to charging stations and not being able to realize the benefits of
our charging networks; risks related to our use of lithium-ion battery cells; we have limited experience servicing and repairing our vehicles; the automotive industry and its technology are rapidly evolving and may be subject
to unforeseen changes, and upgrades and adaptations to our vehicles may increase our costs and capital expenditures and also require planned, temporary manufacturing shutdowns from time to time; risks associated with
advanced driver assistance systems technology; the reduction or elimination of government and economic incentives for electric vehicles; we may not obtain government grants and other incentives for which we may apply;
vehicle retail sales depend heavily on affordable interest rates and availability of credit; insufficient warranty reserves to cover warranty claims; future field actions, including product recalls, could harm our business; risks
related to product liability claims; risks associated with international operations; our ability to attract and retain key employees and qualified personnel; our ability to maintain our culture; our business may be adversely
affected by labor and union activities; risks associated with the ongoing military conflict between Russia and the Ukraine and in the Middle East; risks related to health epidemics, pandemics, and other outbreaks; our
financial results may vary significantly from period to period; we have incurred a significant amount of debt and may incur additional indebtedness; our vehicles may not operate properly; risks related to third-party vendors
for certain product and service offerings; potential conflicts of interest involving our principal stockholders or their affiliates; risks associated with exchange rate and interest rate fluctuations; breaches in data security, failure
of information security systems, cyber-attacks or other security or privacy-related incidents could harm our business; risk of intellectual property infringement claims; our use of open source software in our applications
could subject our proprietary software to general release; our ability to prevent unauthorized use of our intellectual property; risks related to governmental regulation and legal proceedings; delays, limitations and risks
related to permits and approvals required to operate or expand operations; our internal control over financial reporting; and the other factors described in our filings with the SEC. These factors could cause actual results to
differ materially from those indicated by the forward-looking statements made in this presentation. Any such forward-looking statements represent management’s estimates as of the date of this presentation. While we may
elect to update such forward-looking statements at some point in the future, except as may be required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change.
© 2024 Rivian Inc. All rights reserved. Rivian Investor Day 2024
RJ Scaringe
Founder & CEO
Wassym Vidya James Kjell Claire
Software Electrical Hardware Autonomy & AI Commercial Finance
Wassym
Software
Bensaid
Rivian Cloud
Rivian OS
Scalable software OS across multiple platforms
Vehicles
Common Applications
& Software Foundations
Adapted Features
Unique Features
Hardware Adaptation Layer
Electrical Hardware
Rivian Cloud
Product
Performance
Operations
Manufacturing
~500
features added
96%
of customers install
User Experience Supply Chain
Optimization Logistics over 2.5 years a software update
Quality Facilities
through 30+ OTAs within two weeks
Commercial
Sales
Delivery
30%
improvement
20%
improvement
Service in manufacturing in service
Loyalty first pass yield in 2023 lead time
Product
Product software
Improving the charging experience with data
35%
increase in successful
charging stops 1 month
after introducing
Rivian Charging Score
Operations
Commercial
Commercial software
Automating service with AI
End-to-end
Software Platform Scalability Digital First
Vidya
Rajagopalan
Electrical Hardware
Four key focus areas
Experience Velocity Scale Cost
Electrical Hardware
Legacy OEMs
All Tier 1 ECUs
Electrical Hardware
Legacy OEMs
All Tier 1 ECUs
Electrical Hardware
Legacy OEMs Rivian Gen 1
All Tier 1 ECUs 17 in-house ECUs
Electrical Hardware
Legacy OEMs Rivian Gen 1 Rivian Gen 2
All Tier 1 ECUs 17 in-house ECUs 7 in-house ECUs
Rivian in-house developed ECUs
Infotainment & Autonomy Computer
West Zonal Controller
NFC & Door Handle

East Zonal Controller
South Zonal Controller
Battery Management System
Vehicle Access © 2024 Rivian Inc. All rights reserved. Rivian Investor Day 2024
Rivian’s end-to-end ECU ownership
Platform Needs HW+SW Architecture ECU Design Simulation Build
Test & Flash SW Durability Testing System Integration Rapid Design Iteration Scale up
Zonal Controllers
60%
fewer ECUs
compared to Gen 1
Seats Accessories
1.6 mi
reduction in
Closures Lighting
harness length
44 lbs
weight reduction
Chassis Thermal
per vehicle
Autonomy Computer
High Speed Interfaces

11 cameras @ 6 Gbps
10 Gbps Ethernet
High Precision
16 PCIe Gen4 GNSS & IMUs
11.2 Gbps chip2chip GNSS: 100 nV sensitivity /
Sub-10 cm accuracy
IMU: dual 6 DOF,
high performance
4:1
Consolidated
Gen1 ECUs
250 TOPS
AI compute capability
(10x vs. Gen 1)
Deep sensor integration
Cameras Radars GNSS IMU
500 ft Integrated on Autonomy Computer

(surround)
1,000 ft
(front)
3 MP & 8 MP custom cameras Front: imaging radar < 10 cm position accuracy

High dynamic range Surround: longer range High spec (<1o/hour drift) IMUs
LED flicker mitigation
Infotainment Computer
Connectivity
Camera Processing WiFi, Bluetooth, 4G
60 fps (HD Video)
Power conservation mode
3.3x neural processing vs. Gen1
Visualization
4K HDR
3:1
Consolidated
Gen1 ECUs
Distributed Sensing and Compute
Functional performance
achieved is greater than Front Drive Unit (FDU)
the sum of parts Resolver
WSS WSS
Legend
Other West Zone Controller (WZC) Autonomy Control Module (ACM)
Sensor IMU
Primary Localization
Function
Vehicle State Estimation GNSS
Crash Detection Pose Estimation
IMU
Dynamics Control
eXperience Management Module (XMM)
Brake Controls Secondary Localization
SAS Maps & Navigation
Trailer Sway Control
Spare Tire Detection Incident Cam recorder
WSS_ x4
Incident Cam trigger
South Zone Controller (SZC)
Sensors shared Safe State Control
across the system Redundant Park Brake Control
WSS WSS
Resolver
Rear Drive Unit (RDU)
R1 vs R2 power conversion
R1 R2
5 to 1
module consolidation,
high + low voltage
70%
reduction of heavy-duty
high voltage cables
V2H
integrated power
electronics for more efficient
vehicle-to-home solution
Platform developed for scale
Rivian ECUs Harness Length Electrical

(count) (m) (BOM)
Technology Leadership Gen 2 Leverage Lower Cost
AI compute, HD sensors, R2 & R3 utilizing increasing integration,
retina displays, haptic R1 Gen 2 architecture: and optimizing BOM,
scroll wheels, V2H zonal ECUs, sensors, supply chain and
digital keys, Dolby Atmos vehicle assembly
James Philbin
Autonomy & AI
Rivian Autonomy Platform
Scalable AI First
Vertically
Extensible
Integrated
Onboard
Sensors Perception + Prediction Planning
11 Cameras
55 MP of real-time imaging
Highest number of megapixels
of any US market vehicle
State-of-the-art resolution
and dynamic range
5 Radars
Multi-modal sensing supported
by 5 advanced radars
1,000 feet of forward-facing
detection range
360° Sensing
Overlapping sensors provide
redundancy, robustness,
and performance
Onboard
Onboard
Compute
TOPS
(Trillions of Operations per Second)
Extensibility
Compute Sensors
Early fusion encoder architecture allows

for different sensor technologies and
arrangements on the same core ML stack
Long term independence from specific sensors
Prior learning is transferred to new sensors
Data Loop
Always Improving
58
Real-world simulations
Every event encountered in our fleets can be

replayed and evaluated through simulation
5.6M+ < 1 day

Gen 2 simulations from real world to sim
Strategic State-of-the art
Value driver
advantage technology
RJ Scaringe
Product Development
62
Optimizing vehicle cost structure (R1 Gen 1 R1 Gen 2 R2)
R1 Gen 2 Battery Pack
Reduced cost of front crossmember by 47%,
replacing 17 pieces with high-pressure die casting
Generation 1 Generation 2
Reduced cost of skid plate by 54% with minimal
mass increase and no impact to capability
Generation 1 Generation 2
R2 4695 Structural Pack
Rivian Drive Units
Origin Enduro Ascent

Two motors per axle One motor per axle Two motors per axle
Rivian inverter and gearbox with 100% Rivian 100% Rivian
supplier rotor/stator assembly
No longer in production In production In production
Ascent Drive Unit
Ascent Drive Unit
Redesigned inverter
75% higher volumetric density
All high-voltage joints are welded for
improved manufacturing (fewer fastening
stations on the line) and lower joint resistance
25% lower cost for the same performance
70
Ascent Drive Unit
Integrated housing mounts

Part consolidation
Improved stiffness
Dual isolated bushings improve NVH
Ascent Drive Unit
Hairpin windings
Higher power density
Lower cost
Improved manufacturability
with only 3 unique pin shapes
and only 6 conductors per slot
Ascent Drive Unit
Direct oil cooling

to stator and rotor
Improved thermal performance
Continuous power output
Rivian Drive Units
Dramatic cost and performance
improvement with Ascent & Enduro
Total Cost of Drive Units
No longer in production In production

Maximus (Enduro Gen 2 – R2/R3 Drive Unit)
Optimized packaging with integrated side-mounted inverter
~30%
piece cost savings
~30%
reduction in direct
11%
reduction in
32%
reduction in
compared to Gen 1 labor per unit engineered parts drive unit fasteners
R1 (Enduro) R2 + R3 (Maximus)
Heat Pump System
Up to 3x
heating efficiency improvement
3x
battery warm-up rate
R1 Gen 2 Body
Reengineered to optimize costs
R1T Generation 2
65
parts eliminated
15
parts converted
to steel
30%
JPH improvement
1,471
connection points
in body shop reduced
R1S Gen 2 vs R2 rear doors
54% savings from design optimizations
R1S R2
65%
part count reduction
62%
increase in JPH
for interior trim
R1S Gen 2 vs R2 rear underbody structure
Utilizing large high-pressure die casting
R1S R2
96%
fewer parts
32%
piece cost
reduction
R1 vs R2 front suspension
Expected 72% BOM savings
R1 R2
Double wishbone McPherson Strut

Air suspension(with 150mm of height adjustment) Passive coil
Electro-hydraulic adjustable damping Passive anti-roll bar damping
Aluminum structural components Steel structural parts
R2 and R3 Floor-to-Pack Design
Identical assembly fixtures, fore-aft
alignment and common datum features
R2 R3
R2 Sourcing Leverage
-47% Front Displays -58% Cross Beam Bar -71% Center Console
-40% Brake Calipers -28% 3 MP Cameras -22% Steering Rack
Kjell Gruner
Commercial
We are bringing people into electric vehicles
Replaced vehicle by fuel type

(when R1 replaced a vehicle in household)
~76%
of vehicles R1
replaces are non-EV
ICE includes Gas/Diesel/HEV and PHEV

Customers buy Rivian vehicles for
design, performance & technology
Top 3 Reasons for Buying a Rivian
Exterior Design Driving Innovative

& Styling Performance Technology
Source: 30-day customer survey, YTD 2024

Rivian ranks #1 in owner satisfaction
% of owners who would buy

from the same brand again
Rivian
86%
of Rivian owners would
buy from Rivian again
Source: Consumer Reports

Rivian brand awareness
is only 40% in the US –
significant growth
opportunity
Legacy Model
Multiple customer-facing entities with fragmented
data lacking coordination and consistency
Rivian D2C Model
Seamless customer journey with one data ecosystem
designed for consistency and efficiency
One digital destination
simplifies purchase flow
and increases data capture
2.9M
average website
visitors per month
Rivian Shop features
popular configurations
for faster delivery
Pre-Owned coming soon

Rivian Spaces
85,000+
average visitors per month
60%
more traffic compared to leading
lifestyle brands in similar area
Opening Spaces accelerates orders
Atlanta orders
Represents seasonally adjusted increase in orders

We have begun leveraging our Service Center network
for product education and customer engagement
Demo Drives
Planned Spaces and Service Centers through 2025
Spaces
Service Centers
Service
Mobile Service
Rivian Service
49%
smaller physical footprint needed
due to mobile service capacity
70%
of work orders are completed
via mobile service
Strong Brand D2C Advantage Digital First Scalable
Claire
McDonough
Finance
Fastest U.S. company to $5B in LTM Revenue 1
Deliveries Revenue ($B)
1 Defined as of the start of revenue generation

2 Q1’22 LTM includes Q3’21-Q1’22
Reaffirming our guidance of 57,000 units
expected to be produced in 2024
Q2'24E YTD Q2'24E
Gen 2 introduction, combined with commercial cost downs and
commodity tail winds, is expected to reduce material cost by ~20%
~20% material cost reduction
Reaffirming path to positive Q4 ‘24E gross profit
Gross profit drivers Gross profit per unit delivered
Variable Cost
Material cost
Fixed Cost
Depreciation
Labor and overhead
LCNRV1
Revenue per unit delivered

Regulatory credits
Remarketing
1 LCNRV and Firm Purchase Commitments

We continue to scale while holding expenses flat
Revenue Adj. OpEx (non-GAAP)1
1 A reconciliation of non-GAAP financial measures to the most comparable

GAAP measure is provided in the appendix of these materials © 2024 Rivian Inc. All rights reserved. Rivian Investor Day 2024
Planned $2.5B+ of capital expenditure reductions (2023–2025E)
1
Total 2024E–2025E CapEx: ~$2.7B
1 References reduction in 2023 and 2024 CapEx guidance and

incremental CapEx savings from moving R2 production to Normal © 2024 Rivian Inc. All rights reserved. Rivian Investor Day 2024
Rivian’s balance sheet expected to strengthen
through partnership with Volkswagen Group
Estimated Timing Estimated Amount
Q1 ’24 ending cash balance1 $7.9B
Total contributions from Volkswagen Group2 +$5.0B
Convertible Note 2024E +$1.0B
Payment to Rivian at inception of JV 2024E +$1.0B
Equity Investment (RIVN) 2025E +$1.0B
Equity Investment (RIVN) 2026E +$1.0B
Debt (JV) 2026E +$1.0B
1 Reflects actual Q1’24 ending cash, cash equivalents, and short term investments
2 Subject to the formation of the joint venture, Rivian and Volkswagen Group executing definitive agreements,
the achievement of certain milestones, and the receipt of regulatory approvals
Long-term production capacity
Following R2 in Normal launch
Optimizing cost structure from R1 to R2
~45% material cost reduction expected from R1 Gen 2 to R2
R1 profitability primarily driven by fixed cost
leverage and material cost reduction
Revenue per unit 1 Fixed cost per unit2 Variable costs per unit
1 Excludes regulatory credits

2 Excludes LCNRV © 2024 Rivian Inc. All rights reserved. Rivian Investor Day 2024
Rivian’s path to positive adj. EBITDA in 2027
Gross Profit SG&A R&D

Continued focus Adj. SG&A growth expected Expected reduction in
on cost optimization as we expand our sales Adj. R&D as we leverage
and ramp of R2 and service infrastructure previously invested in
to support R2 technologies and platforms
Note: Figures compared to 2024 estimates

Strong balance sheet Poised for growth with Path to long-term
and capital roadmap R2 launching in 2026 profitability
Long-term financial targets
~25% High-teens ~10%

GAAP gross margin Adj. EBITDA margin Free cash flow margin
Appendix
GAAP to Non-GAAP Reconciliation
2022 2023
Adjusted Operating Expenses
Total operating expenses $3,733 $3,709
R&D depreciation and amortization expenses (95) (138)
R&D stock-based compensation expenses (437) (408)
SG&A depreciation and amortization expenses (82) (138)
SG&A stock-based compensation expenses (490) (328)
Adjusted Operating Expenses (non-GAAP) $2,629 $2,697
© 2024 Rivian Inc. All rights reserved.

©RIVIAN 2024 | CONFIDENTIAL Rivian Investor Day 2024

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Rivian Investor Day

June 27, 2024

Rivian Investor Day 2024

Hardware Adaptation Layer

Experience Velocity Scale Cost

NFC & Door Handle

South Zonal Controller

Battery Management System

Platform Needs HW+SW Architecture ECU Design Simulation Build

High Speed Interfaces

500 ft Integrated on Autonomy Computer

3 MP & 8 MP custom cameras Front: imaging radar < 10 cm position accuracy

Rear Drive Unit (RDU)

Rivian ECUs Harness Length Electrical

Early fusion encoder architecture allows

Prior learning is transferred to new sensors

Every event encountered in our fleets can be

5.6M+ < 1 day

Origin Enduro Ascent

No longer in production In production In production

Integrated housing mounts

Direct oil cooling

No longer in production In production

Double wishbone McPherson Strut

-40% Brake Calipers -28% 3 MP Cameras -22% Steering Rack

Replaced vehicle by fuel type

ICE includes Gas/Diesel/HEV and PHEV

Exterior Design Driving Innovative

Source: 30-day customer survey, YTD 2024

% of owners who would buy

Source: Consumer Reports

Pre-Owned coming soon

Represents seasonally adjusted increase in orders

Deliveries Revenue ($B)

1 Defined as of the start of revenue generation

Q2'24E YTD Q2'24E

Gross profit drivers Gross profit per unit delivered

Revenue per unit delivered

1 LCNRV and Firm Purchase Commitments

Revenue Adj. OpEx (non-GAAP)1

1 A reconciliation of non-GAAP financial measures to the most comparable

Total 2024E–2025E CapEx: ~$2.7B

1 References reduction in 2023 and 2024 CapEx guidance and

Q1 ’24 ending cash balance1 $7.9B

Total contributions from Volkswagen Group2 +$5.0B

Convertible Note 2024E +$1.0B

Payment to Rivian at inception of JV 2024E +$1.0B

Equity Investment (RIVN) 2025E +$1.0B

Equity Investment (RIVN) 2026E +$1.0B

Debt (JV) 2026E +$1.0B

Following R2 in Normal launch

~45% material cost reduction expected from R1 Gen 2 to R2

1 Excludes regulatory credits

Gross Profit SG&A R&D

Note: Figures compared to 2024 estimates

~25% High-teens ~10%

© 2024 Rivian Inc. All rights reserved.

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