Markforged : Fourth Quarter 2023 Earnings Conference Call Supporting Slides

Industrial Production at the Point of Need

Massive opportunity today as manufacturers seek more resilient supply chains

Fourth Quarter 2023

Earnings Call Supporting Slides

Investor Presentation

Disclaimer

Forward-Looking Statements. This presentation (the "Presentation") contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "strategy,""anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "opportunity" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although Markforged believes that it has a reasonable basis for each forward-looking statement contained in this Presentation, Markforged cautions you that these statements are based on a combination of facts and factors currently known by it and its projections of the future, about which it cannot be certain. Forward-looking statements in this Presentation include, but are not limited to,future growth rate, revenue, gross profit margin and earnings guidance; timing for achieving profitability; our ability to fulfill orders for our products in a timely fashion in the future; expected growth, the size of and opportunity to increase our addressable market; the timing of the launches of and the rate and extent of adoption of our products, including, but not limited to, our most recently introduced products; market trends in the manufacturing industry; the duration and impact effects of macroeconomic factors;and the benefits to consumers, functionality and applications of Markforged's products. Markforged cannot assure you that the forward-looking statements in this Presentation will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, general economic, political and business conditions, including war and armed conflict in Israel, Gaza and the Middle East generally; the ability of Markforged to maintain its listing on the New York Stock Exchange; the outcome of any legal proceedings against Markforged; and those factors discussed under the header "Risk Factors" in Markforged's most recent periodic and other filings with the SEC.Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that Markforged will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this Presentation represent Markforged's views as of the date of this Presentation. Markforged anticipates that subsequent events and developments will cause its views to change. However, while Markforged may elect to update these forward-looking statements at some point in the future, Markforged has no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing Markforged's views as of any date subsequent to the date of this Presentation.

Market and Industry Data. Certain information contained in this Presentation relates to or is based on publications, surveys and the Company's own internal estimates and research. In addition, all of the market data included in this Presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while the Company believes its internal research is reliable, such research has not been verified by any independent source.

Use of Non-GAAP Financial Metrics. This Presentation includes the non-GAAP financial measures of non-GAAP gross profit margin, and guidance for non-GAAP financial measures of non-GAAP gross margin, non-GAAP operating loss and non-GAAP earnings per share. These non-GAAP measures are an addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of historical non-GAAP measures to their most directly comparable GAAP counterparts are included in the Appendix to this presentation. Markforged believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about Markforged. Markforged's management uses forward-lookingnon-GAAP measures to evaluate Markforged's projected financials and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures, including that they exclude significant expenses that are required by GAAP to be recorded in Markforged's financial measures. In addition, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore, Markforged's non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Additionally, to the extent that forward-lookingnon-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-lookingnon-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations.

Amounts herein pertaining to December 31, 2023 represent a preliminary estimate as of the date of this earnings release and may be revised upon filing our Annual Report on Form 10-K with the Securities and Exchange Commission (the "SEC"). More information on our results of operations for the year ended December 31, 2023 will be provided upon filing our Annual Report on Form 10-K with the SEC

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Manufacturing Has Changed.

Press Print.

Inflection point is driving onshoring for more resilient and flexible supply chains.

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Building resilient and flexible manufacturing

- the $43B* opportunity available today

Keeping the factory running with on demand part production at the point of need

01 Manufacturing Line Support

$24B*

Manufacturing

Line Support

Target Metal	02	Machinery &
Applications
Automation
$43B TAM*
	03	Aerospace &
	Defense

*Market segment size data aggregated from Grandview Research, Allied Market Research, Fortune BI, Verified Research, and Imarc Group: TAMs based on share of part spend justifiable for printing using Markforged technology per customer interviews, workshops, and AoZora Consulting analysis. **Total Manufacturing market size data per Kearney.

& Automation	$12T
$17B*		**

Machinery

Global Manufacturing

Market

$2B*

Aerospace

& Defense

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Markforged's platform, The Digital Forge brings resiliency to thousands of manufacturing floors today

The Digital Forge is the reliable, easy-to-use and intelligent Additive Platform

11 printers and sintering furnaces, which

build strong end-useparts at the point of need

Easy-to-usesoftware

and advanced SaaS modules increase additive adoption at scale. Gets smarter with every print.

Wide range of applications across 28 proprietary metals and composites to answer mission critical manufacturing applications.

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Our Flywheel Drives

Utilization and Reliability

The Digital Forge continuously improves through over-the-air updates

Better

Grow Expertise at the

Speed of Global Production

New printers are added to network to scale manufacturing capacity

More

customers

More

Consistent Improvement

parts

part data

Part Prep and Fleet Management

Federated fleet learning combined with real-time part corrections create a reliable and repeatable production process

Printers

get smarter

Simulation enables pre print strength testing. Devices are constantly streaming back data on parts and performance.

Part Scanning and Industrial lOT

Drives AI-powered part quality improvements across entire fleet

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Patented Continuous Fiber Reinforcement (CFR) technology enables customers to replace metal with our solution

Tensile Strength (MPa)

Part printed without CFR

CFR routed through part

ABS Plastic

Markforged

Onyx

Aluminum (Aircraft Grade 6061)

Markforged

CFR

0

200

400

600

800

1000

CFR is 25x stronger than ABS plastic and 2-3x stronger than aluminum

*Markforged internal test results as of December 2020

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Introducing Digital Source

An on demand platform for 3D printing OEM certified parts, when and where they're needed.

Opportunity for High Margin Recurring Revenue Streams

With 14,000 + active printers in 5,500 factory locations all over the world, the network is built, we just have to turn it on.

Part Design Owners

OEMs upload certified parts to Digital Source

Approved customers can search digital catalogs and print parts

Product Expansion

Pay Per Print

Digital Transformation

End Customers	Print Service Providers	End Customers
(On-Site Printer)		(Without a Printer)

Encrypted part files/designs sent directly to printers

Proven Manufacturing Portfolio, Expanding TAM through Innovation

2016	2018	2018
Mark Two	X7	Metal X
ADVANCED COMPOSITES	ADVANCED COMPOSITES	METAL
The easiest and efficient	Industrial and smart	End to end metal 3D
way to replace metal parts	continuous fiber	printer for functional
with advanced composites.	reinforcement 3D printer	metal parts.
	for real manufacturing
	applications.

2024

FX10

ADVANCED COMPOSITES

Nearly twice as large and twice as fast as the X7, with enhanced automation features to supercharge productivity and utilization.

2022

FX20

ADVANCED COMPOSITES

Our Production Beast. Large scale, precise continuous fiber 3D Printer for high-temp materials.

2024

PX100

METAL

A step change in metal binder jetting enabling high volume production of precise metal parts for reliable industrial production.

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Our Customers are Leading the Charge.

MANUFACTURING LINE SUPPORTMACHINERY & AUTOMATION

Customer: Vestas	Customer: Dixon
Application: Inspection gauges & end use parts	Application: Tooling & fixtures

AEROSPACE & DEFENSE

Customer: Sidus

Application: End use satellite parts

"The Digital Forge has

given us a powerful platform to circumvent expensive, multi step and time consuming conventional manufacturing."

FLEET EXPANSION: 22X OVER 5 YEARS

"Markforged is a critical company and a critical component, it is really changing the way we work to make way for this groundbreaking product."

FLEET EXPANSION: 6X OVER 5 YEARS WITH 6000 UNIQUE PARTS

"It just always works. It never stops working. It never breaks down and it makes perfect parts. And I love it. I can't get enough of the machine."

FLEET EXPANSION: 3X TO REACH FLIGHT READY

*The performance data and client examples cited are presented for illustrative purposes only. Actual performance results may vary depending on configurations and operating conditions

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