The Premier High-growth, Pure Play Industrial Robotics Investment

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T H E P R E M I E R H I G H - G R O W T H , P U R E P L AYINDUSTRIAL ROBOTICS INVESTMENTBaird 2021 Global Industrial ConferenceBen Wolff – Chief Executive OfficerNovember 11, 2021

DISCLAIMER Legal Disclaimer This presentation and any related oral statements contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements regarding Sarcos’ future operating results, financial position, business strategy, projections ofmarket opportunity and market share, estimates and forecasts of other financial and performance metrics, anticipated benefits of its technologies, plans and objectives for future operations and offerings, expectations and timing related to commercial product launches, and the potentialsuccess of Sarcos’ strategy. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expect,” “plan,” anticipate,” “believe,” “estimate,” “predict,” “intend,” “potential,” “would,” “continue,” “ongoing” or the negative of these terms or othercomparable terminology. Such forward-looking statements involve risks, uncertainties and assumptions that may cause actual events, results, or performance to differ materially from those indicated by such statements. Certain of these risks and uncertainties are set forth in the section entitled“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Sarcos’ filings with the Securities and Exchange Commission (the “SEC”) from time to time which are available, free of charge, at the SEC’s website at In addition, statements that “we believe” and similar statements reflect Sarcos’ beliefs and opinions on the relevant subject. These statements are based upon information available to Sarcos as of the date of this presentation, and although Sarcos believes such information forms a reasonablebasis for such statements, such information may be limited or incomplete, and Sarcos’ statements should not be read to indicate that Sarcos has conducted a thorough inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and readersare cautioned not to unduly rely upon these statements. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In light of the significant uncertainties in these forward-lookingstatements, you should not regard these statements as a representation or warranty by Sarcos or any other person that Sarcos will achieve its objectives and plans in any specified time frame, or at all. Except as required by law, Sarcos assumes no obligation and does not intend to updateany forward-looking statements or to conform these statements to actual results or changes in Sarcos’ expectations. This presentation also contains estimates and other statistical data made by independent parties and by Sarcos relating to market size and growth and other industry data. These data involve a number of assumptions and limitations and is subject to change. You are cautioned not to giveundue weight to such estimates. Sarcos has not independently verified the statistical and other industry data generated by independent parties and contained in this presentation and, accordingly, cannot guarantee their accuracy or completeness. In addition, any projections, assumptions andestimates of Sarcos’ future performance and the future performance of the markets in which it competes are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results or outcomes to differ materially from thoseexpressed in the estimates made by the independent parties and by Sarcos. Any projections, estimates and targets in this presentation are forward-looking statements that are based on assumptions as of the date they were made and that were inherently subject to significant uncertainties and contingencies, many of which are beyond Sarcos’ control. Such projections,estimates and targets are included for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. While all projections, estimates and targets are necessarily speculative, Sarcos believes that the preparation of prospective financial informationinvolves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain, are subject to change and are subject to a widevariety of significant business, economic, regulatory and competitive risks and uncertainties that could cause actual results to differ materially from those contained in such projections, estimates and targets. The inclusion of projections, estimates and targets in this presentation should not beregarded as an indication that Sarcos, or its representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events. Sarcos’ independent auditors did not audit, review, compile or perform any procedures with respect to the projectionsfor the purpose of their inclusion in this presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. By attending or receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance ofour business. Sarcos announces material information to the public through a variety of means, including filings with the SEC, public conference calls, Sarcos’ website (, its investor relations website (, and its news leases). Sarcos uses these channels, as well as its social media, including its Twitter (@Sarcos Robotics) and LinkedIn accounts (, to communicate with investors and the public news anddevelopments about Sarcos, its products and other matters. Therefore, Sarcos encourages investors, the media, and others interested in the company to review the information it makes public in these locations, as such information could be deemed to be material information.


THE ANSWER: A FLEET OF INDUSTRIAL ROBOTS THATAUGMENT INSTEAD OF AUTOMATE FOR NON-REPETITIVE JOBSGuardian ️ XO ️ Exoskeleton RobotGuardian ️ XT Avatar RobotSarcos is developing a fleet of highlydexterous mobile industrial robots,that it will own and manage, to delivermultiples of productivity and enhanced safetyacross a wide range of industriesfor the annual cost of a single FTEThe Robot-as-a-Service offering is expected to providenext generation, scalable labor force multiplier with animmediate ROI for industrial and military customers4SARCOS PROPRIETARY

30 YEARS OF DEVELOPMENTSARCOS EVOLUTIONPredecessorspinoutfromUniversityof Utah19832000XO programbegins(DARPA)5SARCOS PROPRIETARYBen Wolffleads groupto purchaseSarcos fromRaytheonRaytheonbuys Sarcos20061st XOhydraulic(DARPA)200720102nd XOhydraulic(DARPA)2015Series A( 15m)2016Air ForceXO contractIndustry AdvisoryGroup establishedAdded 4 distribution partners(2 NA, 2 EU)Series B( 30m)Series C ( 40m)2018Marine CorpXO contract2019US SOCOMXO contract2020XO debut at CESGS multi-unit sale to US DoDUS Navy XT contract

GLOBAL NEED DRIVES DEMANDWORKER SHORTAGE, INJURY, AND FATIGUE KEY DRIVERS OF OPPORTUNITYOLD AGE DEPENDENCY RATIO (%)# of people 65 as % of labor force (15-64), forecasts44Japan6233Germany6032SwedenIndustry SourceSpine Research Institute & OSHA2.4 million U.S. workershortage in manufacturingby 2028 136 billion annual costs inlost production due to fatigueOSHA, 2007Industry Source3930France44UK28Spain28 1.6 trillion global impact inthe construction industry4267US22Poland22365119Russia6 100 billion spent annually onback injuries in the U.S.7234ItalyChina13World13India 2.5 trillion negative impacton U.S. economy3339Source: European Commission259SARCOS PROPRIETARYn 2015 n 2050191) Excludes indirect costs and OSHA finesIndustry SourceOver the past two decades,there has been 1% annualgrowth in constructionproductivityIndustry SourceFalls from height #4 mostdisabling & costly injury afteroverexertion and falling from thesame level2019 Liberty Mutual Workplace Safety Index 4.98 billion directcompensation cost for injuriesfrom falling to a lower level1U.S. Office of Personnel Management

147 BILLION ANNUAL TARGET MARKET IN THE US ALONESCALE & EFFICIENCY TRANSCEND INDUSTRIES & APPLICATIONS, OFFERING BLUE OCEANOPPORTUNITYLARGE ADDRESSABLE MARKET 1 16 million people employed in the U.S. alone in jobs thatcan benefit from robotic augmentationEND MARKETS & APPLICATIONSAEROSPACEAUTOMOTIVETotal AddressableUS Market: 147bLOGISTICSDEFENSEOIL & GASServiceableObtainableUS Market: 15bPOWER & UTILITIESCONSTRUCTIONMANUFACTURING7SARCOS PROPRIETARY Maintenance & repairAssembly supportShip / receiveAssembleNon-consHeavy dutyLogisticsMaintenance & repairMaintenance & diagnosticsConstruct / deconstructLine and transformer maintenanceInfrastructure inspectionBuild & repairMaterial transportMove & manipulateAssembleSource: Bureau of Labor Statistics Occupational Employment Statistics Survey; 1) TAM includes jobs identified from US BLS employment data that would benefit from Sarcos’ productofferings, with an assumed XO / XT utilization rate at a blended annual cost of service. Assumes 10% initial market adoption for SOM. Does not include jobs outside of the US.

INNOVATION, EXPERIENCE, AND IP ENABLE A TRUE “BLUEOCEAN” OPPORTUNITYPROPRIETARY INNOVATIONSKinematic equivalencyCOMPETITIVE STRENGTHSTeleoperation (XT)Modelled after human movement;designed to human body ratioHigh fidelity force feedbackfor precision workIntuitive controls with integratedfeedbackPlatform-agnostic design fordiverse environmentsHuman-like dexterityReduced power from 6,800 to500 wattsAugments humans with roboticstrength, stamina, precision andspeedOptimized power utilization –elastic recoverySuccess-based teachingExtensible object recognitionand task files30-years and 300m in R&D investments140 patents issued relevant to core technologies with anadditional 94 patents pending (as of January 2021)Energetic AutonomyCaptures human ability to operatein unstructured environmentsAI / ML robotics platformHighly experienced robotics team with 500 yearscumulative robotics experienceDEEP ROBOTICS PATENT PORTFOLIOCOVERING FOUNDATIONAL TECHNOLOGIES94SafetyPendingSARCOS PROPRIETARYALGORITHMSSOFTWAREHARDWAREAdvanced controlsComprehensive recovery140Issued8PROCESS

GUARDIAN XO : AN INDUSTRY 4.0 WORKFORCE MULTIPLIERWITH REDUCED RISKS OF INJURYEXPONENTIAL PRODUCTIVITY FOR THE FULLY-BURDENED COST OF A SINGLE EMPLOYEECHALLENGESFEATURESNeed manyspecific liftassistsUp to 200 lb lift capacityCompanies prepared to pay 100,000 - 150,000 per year foran exoskeleton capable of lifting100-200 lb1Hot-swap batteries, near-continuousoperationCapable of up to 100% load relief2 people to liftheavy objects 30 seconds to don or doffPricing of 9K / monthInjury anddisabilityProvide capabilities of 3 or morehuman workersBENEFITSForce multiplier: safely enableworkers to do moreMitigate risk of injury and fatigueAssetdamageEqualize workforce and extendcareersOpportunity costof limitedresources9SARCOS PROPRIETARYBased on initial alpha unit testing customer feedback2000XO otype(DARPA)Sarcos is at a commercial inflection pointafter 20 years of development20102ndhydraulicprototype2016Air ForceXO contract2018MarineCorps XOcontract2019USSOCOMXO contract2020 Mid-2022 End-2022XO ‘Alpha’debut atCES1) Independent blind study, commissioned by Sarcos, 2019. 46 companies across 20 industries, respondents not prompted; 2) Based on initial alpha unit testing customer feedback.2nd gen‘Beta’versioncompleteXO, XTunits beginproductionend of 2022


GUARDIAN ️ XO ️ : EXAMPLE USE CASEAV I AT I O NINSPECTION &MAINTENANCEAIRCRAFT MAINTENANCECHALLENGESHeavy components handling: Frontline maintenancecrews handle heavy tools and parts that can lead tofatigue and strainInjuries & downtime: 25.9 million workers lost anaverage of 7.2 days of work due to backpain1Shoulder-related injuries: Employees are out of work for27 days2R E S U LT SPrevent fatigue-related downtimeReduce the risk of back, neck, and shoulderinjuriesEqualize the workforceExtend frontline workers’ career span11SARCOS PROPRIETARY1) American Academy of Orthopaedic Surgeons, 2004; 2) Bureau of Labor Statistics, 2019

GUARDIAN ️ XO ️ : EXAMPLE USE CASELOGISTICSLAST-MILEDELIVERYHEAVY PARCEL BAG HANDLINGCHALLENGESHeavy, ergonomically challenging tasks: Distributioncenter workers repeatedly lift heavy parcel bags offshelves to load into vans for last-mile delivery. Overtime, these tasks can cause fatigue, strain, and back,shoulder, and neck injuriesRESULTSPrevent fatigue-related downtimeReduce the risk of back, neck, and shoulderinjuriesEqualize the workforceExtend frontline workers’ career span12SARCOS PROPRIETARY

GUARDIAN ️ XT : HIGHLY DEXTEROUS ROBOTIC AVATARCHALLENGESMore supportrequiredFEATURESLift and manipulate up to 200 lbHD immersive experienceForce feedback to control precisionCost ofequipmentMount to many mobile and telescoping basesIndoor and outdoor usePricing of 5K / monthHigh insurancecostBENEFITSWorker fatigue& injuryOptimize productivity for precise tasks in dangerousenvironmentsReduce at-height and overhead fatigue,Reduce injury & exposure to hazardous conditionsHazardousconditionsAbility to reduce standard crew by 50% andcomplete jobs 20% fasterMitigate risks and associated costsReduce insurance premiums & hazard payBased on initial alpha unit testing customer feedback2010GT Prototype13SARCOS PROPRIETARY2020Alpha v12021Beta v12022Commercial production

GUARDIAN ️ XT : EXAMPLE USE CASECONSTRUCTIONREPAIR ANDMAINTENANCEAT-HEIGHT & OVERHEAD TOOL WORKCHALLENGESSkilled labor shortage: Construction is aging out theirskilled workers with 21% over age 551Worker fatigue: Construction work involves heavymaterials, tools, and difficult conditionsPotentially life-altering injuries and events: Falls fromheight are the leading cause of death for constructionworkers (33.5% of fatalities)2RESULTSReduce idle and downtime due to worker fatigueEliminate humans doing elevated and at-heightworkEliminate worker exposure to hazmat (welding fuelgas, silica, cement dust, etc.)Reduce safety equipment and infrastructure costsfor at-height work14SARCOS PROPRIETARY1) 2020 National Outlook Survey, Associated General Contractors of America; 2) U.S. Bureau of Labor Statistics, 2018

GUARDIAN ️ XT : EXAMPLE USE CASEPOWER UTILITYINSPECTION &MAINTENANCEOVERHEAD, HIGH VOLTAGEPOWER LINE1CHALLENGESHazardous conditions: High voltage power line workat-height and in all-weather conditionsPotentially life-altering injuries and events: High risk ofelectrocutions, burns, and falls from heightHuman cost and downtime: The average cost forelectrocution is more than 550,000 with the mediannumber of days off for electrical injuries is 4 days2R E S U LT SReduce occurrence and costs for fatalities &injuriesImprove frequency and coverage of powerline inspection and maintenance.Eliminate humans doing elevated and atheight work.15SARCOS PROPRIETARY1) The Guardian XT mobile robot is designed to enable remote distribution power line work only; it is not ideal for high voltage transmission line work; 2) U.S. Bureau of Labor Statisticsand the U.S. Census Bureau, 2018

ROBOT-AS-A-SERVICE (RAAS) MODEL EXPECTED TOACCELERATE ADOPTION AND DELIVER RECURRING REVENUESRAAS INTENDED TO OFFER ECONOMIC ADVANTAGES AND A UNIQUE VALUE PROPOSITIONBENEFITS OF RAASRAAS VS. BUY Maintenance and servicing covered by SarcosNo implementation/ infrastructure costRemotemonitoring &updatesService andmaintenanceincluded Lowers barriers to deployment due to no CapExoutlay Simple implementation with no infrastructuremodifications required Cost equivalent to fully-burdened 25 / hour full-timeemployee Immediate customer ROI due to multiples ofproductivityOpExexpenditureNo upfrontCapEx outlay Eliminates technology obsolescence risk andsoftware updates included as part of the overallservice agreementScalable next-gen labor force anticipated to enable flexibility with relevance in both strong and weak economies16SARCOS PROPRIETARY

TARGET INDUSTRIES AND CUSTOMERSLEAD PROSPECTIVE CUSTOMERS HAVE IDENTIFIED INITIAL NEEDS RANGING FROM 100-TO3,000 UNITS PER CUSTOMER6 MonthsREPRESENTATIVE TARGET CUSTOMERSINDUSTRIAL*LOGISTICSAverage expected sales cycleE-COMMERCEAmazonFOOD SERVICES*DOD /GOVERNMENT“We owe it to the best airline employees on the planet to explore how emerging technology canmake their jobs safer and easier That’s why we sought out a partnership with Sarcos” –Gareth Joice, Delta Senior Vice President – Airport Customer Service and Cargo** Publicly disclosed partner / investorBeta Unit Trials(2-4 weeks)Mid-2022Low Volume Commercial Pilots(2-6 units)*SARCOS PROPRIETARYExpected standard contract termcontract lengthEXPECTED CUSTOMERJOURNEY AND TIMING*1736 MonthsLate 2022 / Early 2023Scale DeploymentsMid-2023

ILLUSTRATIVE PER UNIT ECONOMICS(6-YEAR SERVICE LIFE, AS OF 2026)REVENUE( in thousands) 600COSTn Setup n Repair n AmortizationCASH FLOWCash flowmarginPAYBACKPERIOD71%XO 425CumulativeCumulativeCumulativeREVENUECOSTCASH FLOW 360n Setup n Repair n AmortizationCash flowmarginPAYBACKPERIOD75%DX / XT 270 8MONTHS 90Cumulative18 8MONTHS 175SARCOS PROPRIETARYCumulativeCumulative

SUFFICIENT LIQUIDITY FOR PATH TO COMMERCIALIZATIONUnrestricted cash and equivalents on balance sheet( millions) 239Net proceeds from business combinationand PIPE financing of 230 millionAdditional 2 million of restricted cashset aside for repayment of PPP loanthat is expected to be forgiven 3431-Dec-20STRONG LIQUIDITYPOSITION DUE TO BUSINESSCOMBINATION30-Sep-21Estimate the transaction will fully fund Sarcos’ XO/XT initial rollout plan19SARCOS PROPRIETARY1) On September 30, 2021

SHARES SUBJECT TO LOCKUPShares not subjectto lockup18.3%LOCKUPSSarcos current outstanding share count is 142.8 million. Owners include former Rotorinvestors, PIPE investors and old Sarcos stockholders81.7% of the outstanding shares are subject to some form of lockup restrictionpreventing their immediate saleShares subjectto lockup81.7%Otherstockholders66.0%ALIGNED INTERESTSOld SarcosStockholders34.0%Over a third of the fully diluted equity of Sarcos is held by current employeesof SarcosApproximately 34% of the current Sarcos equity (stock, options, RSUs, RSAs) issubject to lock-up restrictions where 80% of these shares cannot be sold until theearlier to occur of Sarcos shipping its first 20 Guardian XO/Guardian XT units or thesecond anniversary of the business combinationWe believe the lock-up restrictions align the interests of our employeesand investors.20SARCOS PROPRIETARY


DISCLAIMER Legal Disclaimer This presentation and any related oral statements contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements regarding Sarcos' future operating results, financial position, business strategy, projections of

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