May 25, 2022

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Aurora Expected to Close Business Combination with Reinvent Technology Partners Y with Over $1.8 Billion in Proceeds and Cash On Hand

* Reinvent Know-how Associates Y (RTPY) expects to comprehensive its business enterprise mix, subject matter to shareholder approval, on November 3, 2021

* Traders in the PIPE involve Baillie Gifford, cash and accounts managed by Counterpoint International (Morgan Stanley), Fidelity Management and Exploration LLC, resources and accounts encouraged by T. Rowe Selling price Associates, Inc., PACCAR, Volvo, and Uber

* Proceeds from the business blend stand for the major-at any time Autonomous Auto or Robotics organization principal raise in a go-public transaction

NEW YORK, November 01, 2021–(Organization WIRE)–Reinvent Technologies Associates Y (“RTPY”) (NASDAQ: RTPY) today declared that matter to RTPY shareholder acceptance, it expects to full its previously declared small business blend with self-driving business Aurora on November 3, 2021.

Aurora is making the technological innovation and business enterprise to commercialize self-driving at scale equally in autonomous trucking and passenger mobility. Aurora’s sector-top companions involve Toyota, Uber, Volvo and PACCAR. The gross proceeds currently being raised in this transaction moreover dollars on the balance sheet as of November 1, 2021, equals about $1.8 billion. This more cash is predicted to fund Aurora outside of the commercial start of Aurora Horizon and the Aurora Driver in 2023, and into 2024.

“We are delighted with the investor fascination and aid for this transaction, and are fired up about the long term of Aurora’s enterprise,” reported Mark Pincus, Co-Founder and Director of Reinvent Technologies Companions Y. “We feel Aurora will be the first to commercialize self-driving technology at scale for the U.S. trucking and passenger transportation marketplaces many thanks to its earth-course group, marketplace-top technologies and market-top partnerships.”

“On behalf of the entire Aurora crew, we are encouraged by the early guidance for this transaction and seem ahead to accelerating our development toward commercializing our self-driving technological innovation with the aid of our associates and the Reinvent group,” stated Chris Urmson, Co-Founder and Chief Executive Officer of Aurora. “On the closing, this new capital will additional help our timeline towards offering the engineering to make the movement of products and men and women safer, much more reliable, and economical.”

RTPY also introduced right now that the deadline for shareholders to withdraw any election to have their shares redeemed in relationship with the Business Combination will be 5:00 p.m. Jap Time on Tuesday, November 2, 2021. Shareholders who desire to withdraw a redemption request need to make contact with RTPY’s transfer agent, Continental Inventory Transfer & Trust Corporation, by e-mail at [email protected]

The business enterprise blend, if accepted by RTPY shareholders, is anticipated to shut on November 3, 2021. Upon the closing of the small business combination, RTPY will improve its name to Aurora Innovation, Inc., and typical inventory and warrants of the combined firm are anticipated to begin buying and selling on November 4, 2021 on Nasdaq below the ticker symbols “AUR” and “AUROW,” respectively.

To spend in Aurora, folks can buy community shares of RTPY and keep them through the closing of the business enterprise mixture, at which time their RTPY shares will routinely change to widespread inventory of the publicly shown Aurora on a 1:1 basis.

The Incredible Standard Conference of Shareholders is scheduled to arise on November 2, 2021 at 12:00 p.m. ET. Cost-free copies of the proxy statement and all related paperwork submitted or that will be filed with the U.S Securities and Exchange Fee (“SEC”) by RTPY (when accessible) can also be acquired by shareholders by way of the website taken care of by the SEC at http://www.sec.gov. The files filed by RTPY with the SEC may possibly also be obtained absolutely free of cost at RTPY’s web page at https://y.reinventtechnologypartners.com/trader-relations or by created request to: Reinvent Engineering Associates Y, 215 Park Avenue, Ground 11, New York, NY 10003.

About Aurora

Launched in 2017 by gurus in the self-driving marketplace, Aurora is on a mission to produce the rewards of self-driving know-how safely and securely, immediately, and broadly. To shift equally people today and items, the enterprise is making the Aurora Driver, a platform that provides together computer software, hardware and facts expert services to autonomously function passenger vehicles, gentle commercial automobiles, and heavy-responsibility vehicles. Aurora is backed by Sequoia Funds, Baillie Gifford, funds and accounts recommended by T. Rowe Value Associates, among the some others, and is partnered with industry leaders including Toyota, Uber, Volvo, and PACCAR. Aurora assessments its motor vehicles in the Bay Location, Pittsburgh, and Dallas. The business has workplaces in these parts as properly as in Bozeman, MT Seattle, WA Louisville, CO and Wixom, MI. To discover a lot more, pay a visit to www.aurora.tech.

Aurora Overview

Aurora Push Kit

About Reinvent Technologies Companions Y

Reinvent Know-how Associates Y is a exclusive function acquisition organization started by Mark Pincus, Michael Thompson, and Reid Hoffman. Reinvent Technology Partners Y was formed to aid a technological know-how business enterprise to innovate and achieve entrepreneurship at scale by leveraging its team’s running practical experience as founders of iconic technological know-how companies, their experience developing corporations as advisors and board users, and the funds lifted in its first community offering.

Cautionary Statement With regards to Ahead Searching Statements

This press release is made up of specific ahead-wanting statements in just the indicating of the federal securities laws with regard to the proposed transaction amongst Reinvent Technology Partners Y (“RTPY”) and Aurora Innovation, Inc. (“Aurora”). These ahead-on the lookout statements typically are discovered by the words and phrases “believe that,” “task,” “assume,” “foresee,” “estimate,” “intend,” “strategy,” “potential,” “possibility,” “prepare,” “could,” “really should,” “will,” “would,” “will be,” “continue on,” “very likely,” and comparable expressions. Forward-on the lookout statements are predictions, projections and other statements about foreseeable future activities that are primarily based on existing expectations and assumptions and, as a final result, are subject to challenges and uncertainties. Quite a few factors could induce precise potential gatherings to differ materially from the ahead-looking statements in this document, including but not minimal to: (i) the chance that the proposed transaction may perhaps not be accomplished in a well timed way or at all, which may adversely impact the price of RTPY’s securities, (ii) the risk that the proposed transaction may well not be finished by RTPY’s business enterprise mixture deadline and the potential failure to get hold of an extension of the enterprise combination deadline if sought by RTPY, (iii) the failure to fulfill the conditions to the consummation of the proposed transaction, which include the adoption of the Arrangement and Prepare of Merger, dated as of July 14, 2021 (the “Merger Agreement”), by and between RTPY, Aurora and RTPY Merger Sub Inc., a Delaware company and a direct wholly owned subsidiary of RTPY, by the shareholders of RTPY, the fulfillment of the minimal hard cash ailment pursuing redemptions by RTPY’s general public shareholders and the receipt of particular governmental and regulatory approvals, (iv) the lack of ability to finish the PIPE investment in connection with the proposed transaction, (v) the event of any party, transform or other circumstance that could give rise to the termination of the Merger Settlement, (vi) the impact of the announcement or pendency of the proposed transaction on Aurora’s business associations, operating effects and business enterprise normally, (vii) threats that the proposed transaction disrupts recent programs and operations of Aurora and possible issues in Aurora personnel retention as a consequence of the proposed transaction, (viii) the consequence of any lawful proceedings or other disputes that may be instituted against Aurora or against RTPY connected to the Merger Arrangement or the proposed transaction or or else, (ix) the skill to retain the listing of RTPY’s securities on a countrywide securities trade, (x) the rate of RTPY’s securities may well be unstable because of to a range of elements, together with adjustments in the competitive and really controlled industries in which RTPY programs to run or Aurora operates, variations in working overall performance throughout competitors, adjustments in rules and laws impacting RTPY’s or Aurora’s business enterprise and alterations in the combined money structure, (xi) the capability to carry out business plans, forecasts, and other anticipations just after the completion of the proposed transaction, and determine and comprehend further options, and (xii) the hazard of downturns and a transforming regulatory landscape in the extremely aggressive self-driving sector. The foregoing listing of things is not exhaustive. You ought to cautiously look at the foregoing variables and the other pitfalls and uncertainties explained in the “Hazard Variables”portion of RTPY’s registration assertion on Sort S-1 (File No. 333-253075), its Quarterly Stories on Kind 10-Q for the durations ended March 31, 2021 and June 30, 2021, respectively, the registration assertion on Type S-4 talked over under and other files filed by RTPY from time to time with the SEC. These filings establish and tackle other essential dangers and uncertainties that could bring about real functions and effects to differ materially from those people contained in the forward-looking statements. Ahead-hunting statements talk only as of the date they are made. Viewers are cautioned not to set undue reliance on ahead-on the lookout statements, and RTPY and Aurora believe no obligation and do not intend to update or revise these ahead-searching statements, regardless of whether as a final result of new info, long run gatherings, or or else. Neither RTPY nor Aurora offers any assurance that both RTPY or Aurora or the combined enterprise will accomplish its expectations.

Added Information and Where to Uncover It

This push launch relates to a proposed transaction involving RTPY and Aurora. This press release is not a proxy, consent or authorization with respect to any securities or in regard of the proposed transaction and does not represent an present to provide or exchange, or the solicitation of an supply to purchase or trade, any securities, nor shall there be any sale of securities in any jurisdiction in which such present, sale or trade would be unlawful prior to registration or qualification under the securities legislation of any these types of jurisdiction. RTPY has submitted a registration statement on Sort S-4 with the SEC (333-257912), which contains a prospectus and proxy statement of RTPY, referred to as a proxy assertion/prospectus. RTPY has mailed a definitive proxy assertion/prospectus and other pertinent files to its shareholders of report as of September 30, 2021, the file date set up for the amazing standard conference of shareholders relating to the proposed transaction in between RTPY and Aurora. RTPY also will file other files about the proposed transaction with the SEC. In advance of creating any voting or investment determination, investors and protection holders of RTPY are urged to read the registration statement, the proxy assertion/prospectus and all other relevant files filed or that will be submitted with the SEC in connection with the proposed transaction for the reason that they will contain significant facts about the proposed transaction. Traders and stability holders will be in a position to obtain cost-free copies of the registration statement, the proxy assertion/prospectus and all other pertinent documents filed or that will be submitted with the SEC by RTPY by means of the web page taken care of by the SEC at www.sec.gov. The paperwork submitted by RTPY with the SEC also could be obtained no cost of charge at RTPY’s site at https://y.reinventtechnologypartners.com or on penned request to c/o Reinvent Money, 215 Park Avenue, Ground 11 New York, NY.

Perspective resource model on businesswire.com: https://www.businesswire.com/news/dwelling/20211101005550/en/

Contacts

MEDIA:

Aurora:

Khobi Brooklyn
[email protected]
(415) 699-3657

Reinvent Technology Partners Y:

Ed Trissel / Scott Bisang
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449