Ouster to deliver hundreds of OS digital lidar sensors for Perrone’s autonomous vehicle kit

Ouster, Inc. (NYSE: OUST) ("Ouster" or the "Company"), a leading provider of high-resolution digital lidar sensors, announced today that it has signed a strategic customer agreement with Perrone Robotics ("Perrone"), a leading provider of fully autonomous vehicle (AV) technology and turnkey solutions for the mobility of people and things. The agreement includes a binding commitment for hundreds of sensors through 2023.

Perrone has selected Ouster as a preferred lidar supplier to scale its delivery of integrated autonomous vehicle kits to original equipment manufacturers (OEMs) and end-customers. Ouster's OS sensors will be integrated into a configuration of Perrone's TONY® AV retrofit kit, a patented vehicle and hardware agnostic platform that can be embedded into many vehicle types for transit and transportation applications. Perrone intends to use the Ouster configuration for a wide range of vehicles including the Local Motors Olli shuttle, GreenPower Motor Company AV Star, low speed electric passenger and utility vehicles, and a line of yard trucks for logistics.

"Perrone aims to deploy its kit at fleet-scale for shuttles, low-speed electric vehicles, cargo vans, and large logistics trucks for municipal, governmental, and commercial customers in the United States, Europe, and Asia. We needed a lidar partner that could meet demand as we scale production models with our TONY® AV retrofit kit. Ouster stood out for its performance characteristics, top notch support team, and the ability to scale for fleet-level AV deployments," said Perrone Robotics CEO Paul Perrone. "We're excited to partner with Ouster to deploy autonomous vehicle technology that we expect will increase operational efficiency, enhance safety, and improve accessibility for end-users."

"Ouster's sensors have been designed to meet a range of performance requirements, making them adaptable to a variety of AV platforms. We expect our digital lidar to power hundreds of autonomous vehicles operating in commercial and municipal zones across the U.S. and internationally through our agreement with Perrone," said Ouster CEO Angus Pacala. "Ouster is a leading lidar supplier to the automotive industry today, and we are thrilled to partner with Perrone to meet customer demand for its AV platform over the coming years."

About Perrone Robotics

Perrone is a leading provider of fully autonomous vehicle systems. The company delivers mobility excellence via TONY®, a vehicle independent retrofit kit for use in the autonomous transit of people and goods in geo-fenced and localized operations. Proven, piloted, and in commercial production, Perrone autonomous systems help commercial, municipal, and governmental customers increase transportation efficiencies, enhance safety, and accelerate zero-emission electric vehicle deployment. The company also offers a portfolio of existing turnkey autonomous shuttles and vehicles pre-integrated with the TONY retrofit kit. Learn more at www.perronerobotics.com or follow us @perronerobotics.

About Ouster

Ouster (NYSE: OUST) is a leading provider of high-resolution digital lidar sensors for the industrial, automotive, smart infrastructure, and robotics industries. Ouster products offer an excellent combination of price and performance and are built to a set of requirements that are flexible enough to span hundreds of use cases and enable revolutionary autonomy across industries. Ouster has approximately 600 customers in over 50 countries with offices in the Americas, Europe, Asia-Pacific and the Middle East. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Ouster's ability to meet supply requirements, Ouster's scalability of production, adoption by automotive end users, and Ouster's strategy and market positioning. Forward-looking statements give Ouster's current expectations and projections relating to its financial condition, competitive position, future results of operations, plans, objectives, future orders and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate", "estimate", "expect", "project", "plan", "intend", "believe", "may", "will", "should", "can have", "likely" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: Ouster's limited operating history and history of losses; the negotiating power and product standards of its customers; fluctuations in its operating results; cancellation or postponement of contracts or unsuccessful implementations; the adoption of its products and the growth of the lidar market generally; its ability to grow its sales and marketing organization; substantial research and development costs needed to develop and commercialize new products; the competitive environment in which it operates; selection of its products for inclusion in target markets; its future capital needs; its ability to use tax attributes; its dependence on key third party suppliers, in particular Benchmark Electronics, Inc., and manufacturers; ability to maintain inventory and the risk of inventory write-downs; inaccurate forecasts of market growth; its ability to manage growth; the creditworthiness of customers; risks related to acquisitions; risks related to international operations; risks of product delivery problems or defects; costs associated with product warranties; its ability to maintain competitive average selling prices or high sales volumes or reduce product costs; conditions in its customers industries; its ability to recruit and retain key personnel; its use of professional employer organizations; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards; risks related to operating as a public company; risks related to the COVID-19 pandemic; and other important factors discussed in the Company's final prospectus dated August 19, 2021, and in other reports the Company files with or furnishes to the Securities and Exchange Commission. Any such forward-looking statements represent management's estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, other than as required by law, it disclaims any obligation to do so, even if subsequent events cause its views to change.