Innoviz Technologies Ltd. Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

LEASES

6 Months Ended

Jun. 30, 2022

NOTE 5:-

LEASES

Below is a summary of the Company operating right-of-use assets and operating lease liabilities as of June 30, 2022:

Operating lease right-of-use assets, net	$	27,361

Operating lease liabilities, current	$	1,481
Operating lease liabilities, non-current		25,914

Total operating lease liabilities	$	27,395

Weighted average remaining lease term (years)		10.48
Weighted average discount rate for lease liabilities		4.5	%

Additional information regarding the Company’s operating leases:

	Six Months Ended June 30, 2022
Operating lease costs	$	2,460
Variable lease payments	$	9
Short term lease costs	$	90
Operating cash flows from lease incentives received, net of cash paid for operating leases	$	(296	)

Minimum lease payments over the remaining lease periods as of June 30, 2022, are as follows:

Year ended December 31,
2022	$	237
2023		2,861
2024		3,104
2025		3,411
2026		3,411
Thereafter		21,851

Total undiscounted lease payments	$	34,875

Less: Interest		(7,480	)

Present value of lease liabilities	$	27,395