Impinj : 4Q23 Investor Presentation

Investor Presentation

Fourth Quarter 2023

Forward Looking Statement &

Non-GAAP Financial Measures

This presentation and the accompanying oral commentary contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, any statements about or relating to expectations, projections, trends, plans, ambitions, strategies, and objectives of management for the future; potential markets or market size, technology or business developments, including the anticipated launch of new products, capabilities and technologies, and the adoption or expansion of RAIN technologies by end users; enforceability of our intellectual property rights or our position within the industry; the impact of silicon wafer and reader component availability and supply; and any statements of assumptions underlying any of the foregoing.

Forward-looking statements are based on estimates and information available to us at the time of this presentation and are not guarantees of future performance. These forward-looking statements speak only as of the date hereof. Except as required by law, we assume no obligation and do not intend to update forward-looking statements or to conform these statements to actual results or to changes in our expectations. This presentation also contains statistical data, estimates and forecasts that are based on

independent industry publications or reports or other publicly available information, as well as other information based on our internal sources.

Actual results could differ materially from those expressed in forward-looking statements or in data or estimates made by independent parties or by us. Forward-looking statements, and any statistical data, estimates and forecasts contained in this presentation, are subject to significant risks, uncertainties and assumptions including those identified in the "Risk Factors" section and elsewhere in our most recent filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC).

In addition to our results determined in accordance with generally accepted accounting principles ("GAAP"), this presentation includes certain non-GAAP financial measures. Among other non-GAAP financial measures, this presentation uses (1) adjusted EBITDA, which we calculate as GAAP net income (loss), excluding if applicable for the periods presented, the effects of stock-based compensation; depreciation and amortization; restructuring costs; settlement and related costs; induced conversion expense; other income, net; interest expense; acquisition-related expense and related purchase accounting adjustments; and income tax benefit (expense); (2) non-GAAP gross margin,

which we calculate as GAAP gross margin, excluding if applicable for the periods presented, the effects of depreciation, purchase accounting adjustments, and the effects of stock-based compensation; and (3) Non- GAAP net income, which we calculate as GAAP net income (loss), adjusted for, if applicable for the periods presented, the effects of stock-based compensation; depreciation and amortization; restructuring costs; settlement and related costs; induced conversion expense; acquisition-related expense and related purchase accounting adjustments; and the corresponding income tax impacts of adjustments to net income (loss). These non-GAAP financial measures are in addition to, and not as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents, and our non-GAAP measures may be different from similarly termed non-GAAP measures used by other companies. See the appendix for a reconciliation of those measures to the most directly comparable GAAP measures.

© 2024

2

Impinj at a Glance

Our Vision is boundless IoT, extending the Internet of Things to trillions of everyday items

Success Strategy

1	Develop whole-platform solutions
for lighthouse enterprises
2	Win the endpoint IC opportunity
at those enterprises
3	Engage partners to repeat our
successes at other accounts
4	Compete aggressively for the
rest of the endpoint IC market

315.0

295.0		19%	$307.5
275.0
255.0		CAGR	$257.8
235.0
215.0
195.0		$190.3
175.0
155.0	$152.8
135.0	$138.9
115.0

95.0

75.0

2019	2020	2021	2022	2023

100B+	4.5M+	305+	2,000+
Connectivity
ICs
Devices	Patents(2)	Partners(3)
Shipped (1)
Sold(2)

1. As of February 29, 2024
2. As of December 31, 2023
3. As of June 6, 2023

© 2024

3

Vision

Manufacturer

Shipper

Seller

Person

Archive

Digital Twins

Own | Store | Explore

Connect

Every Thing

Physical Items

Discover | Engage | Protect

Manufacture

Transport

Sell

Use

Recycle

© 2024

4

Success Strategy

S	olution	s

S	y	s
	stem

Solutions drive Impinj endpoint ICs

• Create enterprise solutions; step-and- repeat with solutions partners
• Win endpoint IC opportunity

Systems drive Impinj endpoint ICs

• Enable channel partners to win remaining opportunities with Impinj systems
• Win majority endpoint IC share

© 2024

5

Platform Products

© 2024

6

Wireless Technology

RAIN = RAdio IdentificatioN

• Unique ID: for pennies per tag
• Fast: up to 1,000 items/sec @ 10m
• Autonomous: without line-of-sight
• Battery-free:essentially unlimited life
• Worldwide: spectrum, standards & ecosystem

Complementary IoT Technologies

© 2024

7

Market Opportunity

RAIN enabled connectivity for >34Bn(1) items in 2022

We estimate this represents only ~0.3% of connectable items

Trillions of

consumable

items per year(2)

Other Everyday Items

3Tn	Food & Drink Packaging
600Bn	Auto Parts
400Bn	Parcels & Postal
325Bn	General Merchandise
80Bn	Beauty and Personal Care
80Bn	Apparel
9Bn	Pallets
4Bn	Airline Baggage
3Bn	Tires

(1) RAIN Alliance, "RFID TAG IC Shipment Data" May 3, 2023.

(2) Food Packaging and Caps & Lids based on Euromonitor International, "Global Trends in Food and Drink Packaging, 2017". Impinj estimate of Auto Parts based on Statista, "Global Car Sales 1990-2019" and "Automotive Industry & Reach," Timo Unger. Postal based on Universal Postal Union, "Postal	© 2024	8
economic outlook 2021" and Pitney Bowes Parcel Shipping Index, September 2022. Impinj estimate of taggable apparel items based on Statista Market Forecast Apparel - worldwide, March 2019. Pallets based on IMARC Group, "Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and

Forecast 2019-2024. Airline Baggage based on IATA and SITA, "RFID for Baggage Tracking, Business Case 2017." Tires based on Freedonia, "Global tire demand." General merchandise and beauty and personal care based on internal Impinj estimate.

Market Focus

Retail General	Supply Chain
Merchandise	& Logistics

Platform Leverage

Enterprise	Platform	Leading	RAIN
Solutions	Preference	Products	Services
Engage lighthouse enterprises	Build platform capabilities	Best performance, reliability	Cloud services support
to drive solutions opportunities	and earn corporate trust to	and supply are the foundation	platform linkages and drive
and whole-platform learnings	win and hold endpoint IC share	of our platform success	additional recurring revenue

© 2024 10