Innoviz Expands Board of Directors with Global Technology and Automotive Industry Veterans
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Innoviz Expands Board of Directors with Global Technology and Automotive Industry Veterans

The Newly Appointed Board Members Will Support Innoviz in Deploying its Automotive-Grade LiDAR Product Line Globally and Accelerating Safe and Ubiquitous Autonomous Vehicle Adoption.

TEL AVIV, Israel, April 6, 2021 — (PRNewswire) —   Innoviz Technologies Ltd. (Nasdaq: INVZ), a technology leader of high-performance, solid-state LiDAR sensors and perception software, announced today that it has appointed Amichai Steimberg, Aharon Aharon, Dan Falk, Ronit Maor, Orit Stav and James Sheridan to its board of directors effective today. They join existing board members Omer Keilaf, Co-Founder and CEO of Innoviz, and Oren Rosenzweig, Co-Founder and Chief Business Officer of Innoviz. The new appointees bring decades of experience leading publicly traded companies in the technology and automotive sectors as executive officers and members of boards of directors.

These appointments follow the consummation of Innoviz's merger with Collective Growth Corporation (formerly Nasdaq: CGRO) on April 5, 2021.

The following provides information about the new appointees to Innoviz's board of directors:

"We are thankful to have assembled an incredible collection of experts to serve on Innoviz's board as we navigate through this next stage of growth," said Omer Keilaf, Co-Founder and CEO of Innoviz. "Our team has worked diligently to identify leaders in the technology and automotive spaces who are uniquely positioned to facilitate our transition to a public company and drive shareholder value in the process. We are looking forward to working with this accomplished group and leveraging their expertise as we continue to push the boundaries of LiDAR and enter high volume series production."

Amichai Steimberg, future Chairman of the Board, commented: "Innoviz has quickly earned its reputation as a global leader in high performance, automotive-grade LiDAR. Innoviz is pushing the autonomous vehicle industry forward in innovative ways. I am confident this group of leaders will successfully oversee the deployment of Innoviz's LiDAR and perception software to BMW and other leading vehicle manufacturers in the near term."

About Innoviz Technologies
Innoviz is a leading provider of technology that will put autonomous vehicles on roads, ultimately changing the world and making life better. Innoviz is the only company with LiDAR technology that can "see" better than a human driver, while also meeting the automotive industry's strict requirements for performance, safety and price. Selected by BMW for its fully electric iX autonomous car program, Innoviz's technology will be the first to be deployed in consumer vehicles. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, and others. For more information, visit  www.innoviz.tech.

Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the transaction, the services offered by Innoviz and the markets in which it operates, and Innoviz's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations following the transaction, the ability to identify and realize additional opportunities, and potential changes and developments in the highly competitive LiDAR technology and related industries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the definitive proxy statement/prospectus filed with the SEC on March 11, 2021 and other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations.

Contact Information
Media@innoviz-tech.com

Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Maya.Lustig@innoviz-tech.com 

Gateway Investor Relations
Cody Slach or Matt Glover
(949) 574-3860
Investors@innoviz-tech.com

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SOURCE Innoviz Technologies

Contact:
Company Name: Innoviz Technologies, Collective Growth Corporation
Web: www.innoviz.tech
Financial data for Innoviz Technologies, Collective Growth Corporation