8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 10, 2021

 

 

TuSimple Holdings Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-40326   86-2341575

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

TuSimple Holdings Inc.

9191 Towne Centre Drive

Suite 600

San Diego, CA 92122

(Address of principal executive offices, including zip code)

(619) 916-3144

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Class A Common Stock, par value $0.0001 per share    TSP    The Nasdaq Stock Market LLC
(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 2.02.

Results of Operations and Financial Condition.

On May 10, 2021, TuSimple Holdings Inc. (the “TuSimple” or the “Company”) will hold a conference call regarding its financial results for the quarter ended March 31, 2021. TuSimple also issued a letter to its stockholders announcing its financial results for the quarter ended March 31, 2021 (the “Shareholder Letter”). A copy of the Shareholder Letter is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished with this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

TuSimple uses its Investor Relations website (https://ir.tusimple.com/investor-relations) as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

 

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit

    No.    

   Description
99.1    Letter to Shareholders, dated May 10, 2021


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

TuSimple Holdings Inc.
By:  

/s/ Patrick Dillon

  Patrick Dillon
  Chief Financial Officer

Dated: May 10, 2021

EX-99.1

Exhibit 99.1 Q1 2021 Letter to Shareholders May 10, 2021Exhibit 99.1 Q1 2021 Letter to Shareholders May 10, 2021


Q1 Highlights st § Increased 1 Wave Reservations: Increased reservations by 1,200 for a total of 5,775 by quarter-end. Reservation orders are from blue-chip shippers, carriers and truck lessors including Penske, Schneider, and U.S. Xpress. Added an additional 1,000 truck reservations in April, bringing the current reservation book to 6,775 trucks § Extended our Lead in Real-World Road Miles: Continued growth in real-world road miles with ~3.7M cumulative miles by quarter-end, a ~3x increase over the last 12 months § Enhanced our Technology Leadership: Increased our issued patents 13% quarter-over-quarter to total 280 by quarter-end, representing the largest portfolio of commercial vehicle-related AV patents globally. We also grew our R&D headcount 17% quarter-over-quarter to total 821 by quarter-end § Continued Development of our World-Class Executive Advisory Board (EAB) : Nicole R. Nason – Former Administrator of US Federal Highway Administration | Cavnue, Chief Safety Officer Richard J. Kramer – Goodyear, CEO & President Persio V. Lisboa – Navistar, President & CEO Autonomous Freight Network § Generated ~ $1M of Q1 Revenue: Accelerating revenue generation from paid freight loads which enables further development of our autonomous technology and our AFN commercial relationships § ~$1B of Growth Capital from IPO: Successful completion th of IPO on April 15 , delivering ~$1B of net proceeds to fund future growth. Our cash position pro forma post the IPO is in excess of $1.5B § $183M in New Investments from Navistar and TRATON: Further validation of the strength of our partnerships with two of the world’s preeminent semi-truck OEMS |Q1 Highlights st § Increased 1 Wave Reservations: Increased reservations by 1,200 for a total of 5,775 by quarter-end. Reservation orders are from blue-chip shippers, carriers and truck lessors including Penske, Schneider, and U.S. Xpress. Added an additional 1,000 truck reservations in April, bringing the current reservation book to 6,775 trucks § Extended our Lead in Real-World Road Miles: Continued growth in real-world road miles with ~3.7M cumulative miles by quarter-end, a ~3x increase over the last 12 months § Enhanced our Technology Leadership: Increased our issued patents 13% quarter-over-quarter to total 280 by quarter-end, representing the largest portfolio of commercial vehicle-related AV patents globally. We also grew our R&D headcount 17% quarter-over-quarter to total 821 by quarter-end § Continued Development of our World-Class Executive Advisory Board (EAB) : Nicole R. Nason – Former Administrator of US Federal Highway Administration | Cavnue, Chief Safety Officer Richard J. Kramer – Goodyear, CEO & President Persio V. Lisboa – Navistar, President & CEO Autonomous Freight Network § Generated ~ $1M of Q1 Revenue: Accelerating revenue generation from paid freight loads which enables further development of our autonomous technology and our AFN commercial relationships § ~$1B of Growth Capital from IPO: Successful completion th of IPO on April 15 , delivering ~$1B of net proceeds to fund future growth. Our cash position pro forma post the IPO is in excess of $1.5B § $183M in New Investments from Navistar and TRATON: Further validation of the strength of our partnerships with two of the world’s preeminent semi-truck OEMS |


TuSimple Letter to Shareholders Significant Momentum in Q1 Tucson – Operations Center Dear Shareholders, Today, we are pleased to share our Q1 results with you for the first time as a publicly traded company. TuSimple turned a year of challenges into a year of progress that propelled us to become the first autonomous driving company to list on a stock exchange. The ~$1 billion of growth capital we raised through our IPO provides us with a substantial runway to focus on our technology and continue our industry leadership in autonomous trucking. We continued to gain momentum throughout Q1, refining AV Testing Fleet our proprietary artificial intelligence technology and designing our purpose-built L4, Class 8 truck with Navistar. Alongside these technology developments, we led the industry in building autonomous vehicle ecosystem partnerships and expanded our Autonomous Freight Network (AFN), never losing sight of our mission to enable reliable, low-cost freight capacity as a service while setting a new standard for safety and fuel efficiency. We have posted an introduction to TuSimple for our new investors on our investor relations website. Scania Europe Testing Our AI Technology is Defining the Industry Our proprietary AI-based technology continues to set the industry standard and positions us as the leader in autonomous trucking. Major Q1 Technical Achievements § Passed another production gate in our L4 truck production program with Navistar. We are excited about our progress-to-date and remain on track for our targeted start of production in 2024 § Commenced autonomous testing in Sweden with Scania trucks on public roads. This is the first testing program of its kind in Europe § Furthered the design and development of three key enabling features to allow L4 deployment at scale: TuSimple Connect oversight monitoring (1) system, Minimal Risk Condition (MRC) states, and full system redundancy 3 (1) A condition in which an autonomous vehicle that has experienced an unsolved edge case must pull over on the side of the road to allow for a safe resolutionTuSimple Letter to Shareholders Significant Momentum in Q1 Tucson – Operations Center Dear Shareholders, Today, we are pleased to share our Q1 results with you for the first time as a publicly traded company. TuSimple turned a year of challenges into a year of progress that propelled us to become the first autonomous driving company to list on a stock exchange. The ~$1 billion of growth capital we raised through our IPO provides us with a substantial runway to focus on our technology and continue our industry leadership in autonomous trucking. We continued to gain momentum throughout Q1, refining AV Testing Fleet our proprietary artificial intelligence technology and designing our purpose-built L4, Class 8 truck with Navistar. Alongside these technology developments, we led the industry in building autonomous vehicle ecosystem partnerships and expanded our Autonomous Freight Network (AFN), never losing sight of our mission to enable reliable, low-cost freight capacity as a service while setting a new standard for safety and fuel efficiency. We have posted an introduction to TuSimple for our new investors on our investor relations website. Scania Europe Testing Our AI Technology is Defining the Industry Our proprietary AI-based technology continues to set the industry standard and positions us as the leader in autonomous trucking. Major Q1 Technical Achievements § Passed another production gate in our L4 truck production program with Navistar. We are excited about our progress-to-date and remain on track for our targeted start of production in 2024 § Commenced autonomous testing in Sweden with Scania trucks on public roads. This is the first testing program of its kind in Europe § Furthered the design and development of three key enabling features to allow L4 deployment at scale: TuSimple Connect oversight monitoring (1) system, Minimal Risk Condition (MRC) states, and full system redundancy 3 (1) A condition in which an autonomous vehicle that has experienced an unsolved edge case must pull over on the side of the road to allow for a safe resolution


Our AI Technology is Defining the Industry (cont’d) VP, Maps, Robert Rossi Key Operating Metrics 12/31/2020 3/31/2021 QoQ Growth % R&D Headcount 701 821 17% Global Headcount 839 978 17% Patents Issued 247 280 13% (1) Road Miles Driven ~2.9M ~3.7M 25% World-class AV Talent is Choosing TuSimple Our R&D team makes up ~84% of our total headcount and grew by 120 during Q1 for a total of 821. We plan to § New hire in April 2021, VP, Maps § Extensive leadership experience in AI and continue to increase R&D headcount as we accelerate the Autonomous Systems at Microsoft and development of our technology. In April, we welcomed TomTom Robert Rossi, VP, Maps, to lead our HD mapping program. Robert brings extensive experience in developing AI and Autonomous Systems, leveraging his substantial 280 Issued Patents Power Our L4 Semi-Trucks engineering and business leadership experience from prior roles at Microsoft and TomTom. (2) The Most Commercial Truck AV Patents Globally In Q1, TuSimple had 31 new patents issued, expanding our global portfolio to 280 issued patents that protect advancements in vehicle control, hardware, vehicle operation and more. In addition, we have made significant technical innovations around less detectable technologies in autonomous trucking, such as machine learning, perception, real world data collection, and processing for AI training which we protect via trade secret. There is No Substitute for Millions of Semi-truck Road Miles Our fleet of 70 retrofitted, autonomous-enabled trucks drove ~700 thousand road miles in Q1, resulting in a Cumulative Road Miles (million) cumulative total of ~3.7 million miles driven by quarter- ~3x YoY end. During on-road missions, our trucks’ sensors collect 3.7 real-world data at a rate of hundreds of gigabytes per 2.9 hour. The data are then fed into our AI-technology development. Motorists behave differently around semi- 2.2 trucks so real-world data is a requirement to perfecting 1.7 25% our L4 system. In some of our missions, our autonomous 1.3 32% system is operating the vehicle, testing and improving our 30% L4 system against real-world scenarios. In other missions, a 37% human is operating the vehicle with our autonomous system running in “shadow mode” to compare its decisions Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 versus our highly-skilled test drivers. 42% 37% 30% 32% 25% (1) Road Miles consist of all on-road miles driven by TuSimple’s autonomous enabled vehicles globally 4 (2) To our knowledge, when compared to trucking focused startups, no other company has more granted patents related to autonomous commercial trucks than TuSimple Note: (%)’s may not foot due to roundingOur AI Technology is Defining the Industry (cont’d) VP, Maps, Robert Rossi Key Operating Metrics 12/31/2020 3/31/2021 QoQ Growth % R&D Headcount 701 821 17% Global Headcount 839 978 17% Patents Issued 247 280 13% (1) Road Miles Driven ~2.9M ~3.7M 25% World-class AV Talent is Choosing TuSimple Our R&D team makes up ~84% of our total headcount and grew by 120 during Q1 for a total of 821. We plan to § New hire in April 2021, VP, Maps § Extensive leadership experience in AI and continue to increase R&D headcount as we accelerate the Autonomous Systems at Microsoft and development of our technology. In April, we welcomed TomTom Robert Rossi, VP, Maps, to lead our HD mapping program. Robert brings extensive experience in developing AI and Autonomous Systems, leveraging his substantial 280 Issued Patents Power Our L4 Semi-Trucks engineering and business leadership experience from prior roles at Microsoft and TomTom. (2) The Most Commercial Truck AV Patents Globally In Q1, TuSimple had 31 new patents issued, expanding our global portfolio to 280 issued patents that protect advancements in vehicle control, hardware, vehicle operation and more. In addition, we have made significant technical innovations around less detectable technologies in autonomous trucking, such as machine learning, perception, real world data collection, and processing for AI training which we protect via trade secret. There is No Substitute for Millions of Semi-truck Road Miles Our fleet of 70 retrofitted, autonomous-enabled trucks drove ~700 thousand road miles in Q1, resulting in a Cumulative Road Miles (million) cumulative total of ~3.7 million miles driven by quarter- ~3x YoY end. During on-road missions, our trucks’ sensors collect 3.7 real-world data at a rate of hundreds of gigabytes per 2.9 hour. The data are then fed into our AI-technology development. Motorists behave differently around semi- 2.2 trucks so real-world data is a requirement to perfecting 1.7 25% our L4 system. In some of our missions, our autonomous 1.3 32% system is operating the vehicle, testing and improving our 30% L4 system against real-world scenarios. In other missions, a 37% human is operating the vehicle with our autonomous system running in “shadow mode” to compare its decisions Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 versus our highly-skilled test drivers. 42% 37% 30% 32% 25% (1) Road Miles consist of all on-road miles driven by TuSimple’s autonomous enabled vehicles globally 4 (2) To our knowledge, when compared to trucking focused startups, no other company has more granted patents related to autonomous commercial trucks than TuSimple Note: (%)’s may not foot due to rounding


Driver-Out Milestone Progress Update Developing Purpose-Built L4 Class 8 Trucks We will Soon be Ready to Take on Driver-Out Testing (1) The purpose of developing Level 4 (L4) driver-out autonomous semi-truck technology is to remove the requirement for driver supervision. We launched our first driver-out pilot program (Driver-Out) in February 2020 to publicly achieve this objective. The goal for Driver-Out is to publicly demonstrate the safety, maturity, and functionality of our virtual driving system, including commercial operation at night, on our AFN. During Driver- Out, our truck will operate autonomously from origin to destination on a commercial route between the Phoenix and Tucson metropolitan areas with real cargo. The selected route includes most of the scenarios in typical freight operations: terminals, parking lots, surface streets, and highways passing through city centers and suburban Selected Driver-Out Pilot Route areas. We expect Driver-Out to be challenging, but our experience over the last six years gives us confidence we are ready for this ground-breaking program. Driver-Out is a Groundbreaking AV Technology Milestone The differences between driver-in systems (L2/L3) and our driver-out system (L4) are significant. All L2/L3 systems are expected to make mistakes, even safety critical ones. The human driver still maintains full responsibility for the vehicle. With an L4 truck, any internal hardware or software failure and all on road scenarios must be detected and mitigated by the truck itself. With this pilot program we are striving to be the first autonomous driving company to have an L4 semi-truck perform a real freight delivery On Track for On-Road Driver-Out Mission without a human in the cab. What is Needed to be Ready for Driver-Out To prepare for Driver-Out we designed our autonomous system from the ground up, taking a rigorous engineering approach to analyze the functions and potential failures for each component. Goals we have achieved towards our driver-out milestone include: § Removed single point of failure and, for some critical components, we have double and triple redundancy § Designed many electrical components to support self- diagnostics and resistance to any hardware failure 5 (1) L4 autonomous solution expected to be capable of driver-out operations on AFN mapped routesDriver-Out Milestone Progress Update Developing Purpose-Built L4 Class 8 Trucks We will Soon be Ready to Take on Driver-Out Testing (1) The purpose of developing Level 4 (L4) driver-out autonomous semi-truck technology is to remove the requirement for driver supervision. We launched our first driver-out pilot program (Driver-Out) in February 2020 to publicly achieve this objective. The goal for Driver-Out is to publicly demonstrate the safety, maturity, and functionality of our virtual driving system, including commercial operation at night, on our AFN. During Driver- Out, our truck will operate autonomously from origin to destination on a commercial route between the Phoenix and Tucson metropolitan areas with real cargo. The selected route includes most of the scenarios in typical freight operations: terminals, parking lots, surface streets, and highways passing through city centers and suburban Selected Driver-Out Pilot Route areas. We expect Driver-Out to be challenging, but our experience over the last six years gives us confidence we are ready for this ground-breaking program. Driver-Out is a Groundbreaking AV Technology Milestone The differences between driver-in systems (L2/L3) and our driver-out system (L4) are significant. All L2/L3 systems are expected to make mistakes, even safety critical ones. The human driver still maintains full responsibility for the vehicle. With an L4 truck, any internal hardware or software failure and all on road scenarios must be detected and mitigated by the truck itself. With this pilot program we are striving to be the first autonomous driving company to have an L4 semi-truck perform a real freight delivery On Track for On-Road Driver-Out Mission without a human in the cab. What is Needed to be Ready for Driver-Out To prepare for Driver-Out we designed our autonomous system from the ground up, taking a rigorous engineering approach to analyze the functions and potential failures for each component. Goals we have achieved towards our driver-out milestone include: § Removed single point of failure and, for some critical components, we have double and triple redundancy § Designed many electrical components to support self- diagnostics and resistance to any hardware failure 5 (1) L4 autonomous solution expected to be capable of driver-out operations on AFN mapped routes


Driver-Out Milestone Progress Update (cont’d) Removed Single Point of Failure in Hardware/Software § Collaborated with our Tier-1 partners to design the first and only fully redundant, L4 capable steering and braking system for heavy trucks § Upgraded our truck sensor suites with a variety of sensors fused together including an in-house designed camera system that enables night operations, a long range LiDAR, mid-range LiDARs, radars, and an ultrasonic system § Designed an automatic data pipeline that employs AI Upgraded Sensor Suites algorithms to analyze and discover rare events utilizing the millions of miles of road data we collect, giving a full representation of potential road incidents § Implemented a continuous improvement process to address each new event we find on the road: capture requirements, generate system design, implement solutions, and thorough tests of updated design Into Phase 3 of our Driver-Out Development Program We have divided the development of our Driver-Out pilot program into 4 phases. Phase 1 was focused on designing the autonomous system architecture and Phase 2 focused on developing our first prototype . We are currently in Sensor Suite Location Prototype Phase 3, targeted at bringing up our testing fleet with Phase 4 as final validation, which we aim to complete in Q4. Driver-Out (1) Define ODD | Product Req. HW & SW Architecture Bring-up. MRC & Oversight. Verification & Validation Autonomy Development Phase 1 – Requirement Definition Phase 3 – System Verification (2) Product | FuSa Requirement, HW & SW | Criteria Acceptance, Autonomy Release, System Architecture & System Design Verification, Optimization | Design Finalization Q1’ 2020 Q4’ 2021 Phase 2 – Platform Readiness Phase 4 – System Validation Exposure Analysis | HW & SW Integration | Driver-Out Road Validation Component | Test Bench Verification (1) ODD – Operational Design Domain - description of specific operating domain(s) in which an automated function or system is designed to properly operate, including but not limited to roadway types, speed, weather, and other domain constraints. (2) FuSa – Functional Safety – overall safety of a system or piece of equipment that depends on automatic protection operating correctly in response to its inputs or failure in a predictable manner. Driver-Out Milestone Progress Update (cont’d) Removed Single Point of Failure in Hardware/Software § Collaborated with our Tier-1 partners to design the first and only fully redundant, L4 capable steering and braking system for heavy trucks § Upgraded our truck sensor suites with a variety of sensors fused together including an in-house designed camera system that enables night operations, a long range LiDAR, mid-range LiDARs, radars, and an ultrasonic system § Designed an automatic data pipeline that employs AI Upgraded Sensor Suites algorithms to analyze and discover rare events utilizing the millions of miles of road data we collect, giving a full representation of potential road incidents § Implemented a continuous improvement process to address each new event we find on the road: capture requirements, generate system design, implement solutions, and thorough tests of updated design Into Phase 3 of our Driver-Out Development Program We have divided the development of our Driver-Out pilot program into 4 phases. Phase 1 was focused on designing the autonomous system architecture and Phase 2 focused on developing our first prototype . We are currently in Sensor Suite Location Prototype Phase 3, targeted at bringing up our testing fleet with Phase 4 as final validation, which we aim to complete in Q4. Driver-Out (1) Define ODD | Product Req. HW & SW Architecture Bring-up. MRC & Oversight. Verification & Validation Autonomy Development Phase 1 – Requirement Definition Phase 3 – System Verification (2) Product | FuSa Requirement, HW & SW | Criteria Acceptance, Autonomy Release, System Architecture & System Design Verification, Optimization | Design Finalization Q1’ 2020 Q4’ 2021 Phase 2 – Platform Readiness Phase 4 – System Validation Exposure Analysis | HW & SW Integration | Driver-Out Road Validation Component | Test Bench Verification (1) ODD – Operational Design Domain - description of specific operating domain(s) in which an automated function or system is designed to properly operate, including but not limited to roadway types, speed, weather, and other domain constraints. (2) FuSa – Functional Safety – overall safety of a system or piece of equipment that depends on automatic protection operating correctly in response to its inputs or failure in a predictable manner.


Our Unmatched 1,000 Meter Perception Capability Proprietary 1,000m Perception Capability 1,000 Meter Perception is Critical to Enable L4 Trucking Semi-trucks weigh up to 80,000 pounds and operate mostly on highways with a maximum speed of over 75mph. Due to their size and limited maneuverability, semi-trucks take a much longer time than passenger vehicles to change lanes, make left-hand turns, and brake. The braking distance at top speed can be more than 200 meters (roughly the distance of two football fields) and making a safe left-hand turn can take up to 16 seconds, requiring a Effective Acceleration & Braking long planning horizon. LiDAR only systems do not provide sufficient planning horizons, making it unsafe for an autonomous truck to make an unprotected left-hand turn while exclusively relying on LiDAR. Our Perception System’s Capabilities One of the most important features in TuSimple’s technology stack is the long range perception system. Our 2 -decel / +accel (m/s ) L4 truck can perceive and understand road situations for up to 1,000 meters forward and 300 meters in all directions Autonomous Manual providing up to a 35 second planning horizon. At 75 mph, a § TuSimple's autonomous driving system is fully loaded semi-truck has ~2x the kinetic energy versus significantly more effective in acceleration and braking relative to a human driver, yielding less 55 mph. To travel at top highway speeds, a long planning brake wear and enhanced fuel efficiency horizon is a necessity for safe L4 operation. TuSimple Perception Suite Kinetic Energy 2.5E+07 R=70M R=80M 2.0E+07 R=300M R=80M 80,000 lbm R=500M R = 1 000M 1.5E+07 ���� R=200M R=350M 2 R=250M K.E. = mv ���� 1.0E+07 2x 5.0E+06 Camera R=150M Radar 0.0E+00 Lidar [ Joules ] 20 25 30 35 40 45 50 55 60 65 70 75 [ mph ] Industry Leading Long Range Perception § Camera technology provides images and data from 1,000 meter range§ A fully-loaded semi-truck’s kinetic energy is 2x § TuSimple Proprietary AI Technology utilizes images and data to make larger at 75 mph versus 55 mph § 1,000 meter perception and a 35 second appropriate control decisions on the road planning horizon are critical for safe operation at high speeds 7 Distribution %Our Unmatched 1,000 Meter Perception Capability Proprietary 1,000m Perception Capability 1,000 Meter Perception is Critical to Enable L4 Trucking Semi-trucks weigh up to 80,000 pounds and operate mostly on highways with a maximum speed of over 75mph. Due to their size and limited maneuverability, semi-trucks take a much longer time than passenger vehicles to change lanes, make left-hand turns, and brake. The braking distance at top speed can be more than 200 meters (roughly the distance of two football fields) and making a safe left-hand turn can take up to 16 seconds, requiring a Effective Acceleration & Braking long planning horizon. LiDAR only systems do not provide sufficient planning horizons, making it unsafe for an autonomous truck to make an unprotected left-hand turn while exclusively relying on LiDAR. Our Perception System’s Capabilities One of the most important features in TuSimple’s technology stack is the long range perception system. Our 2 -decel / +accel (m/s ) L4 truck can perceive and understand road situations for up to 1,000 meters forward and 300 meters in all directions Autonomous Manual providing up to a 35 second planning horizon. At 75 mph, a § TuSimple's autonomous driving system is fully loaded semi-truck has ~2x the kinetic energy versus significantly more effective in acceleration and braking relative to a human driver, yielding less 55 mph. To travel at top highway speeds, a long planning brake wear and enhanced fuel efficiency horizon is a necessity for safe L4 operation. TuSimple Perception Suite Kinetic Energy 2.5E+07 R=70M R=80M 2.0E+07 R=300M R=80M 80,000 lbm R=500M R = 1 000M 1.5E+07 ���� R=200M R=350M 2 R=250M K.E. = mv ���� 1.0E+07 2x 5.0E+06 Camera R=150M Radar 0.0E+00 Lidar [ Joules ] 20 25 30 35 40 45 50 55 60 65 70 75 [ mph ] Industry Leading Long Range Perception § Camera technology provides images and data from 1,000 meter range§ A fully-loaded semi-truck’s kinetic energy is 2x § TuSimple Proprietary AI Technology utilizes images and data to make larger at 75 mph versus 55 mph § 1,000 meter perception and a 35 second appropriate control decisions on the road planning horizon are critical for safe operation at high speeds 7 Distribution %


Our Unmatched 1,000 Meter Perception Capability (cont’d) TuSimple’s Record-Breaking Computer Vision We have designed a state-of-the-art system for image- Technology based perception. Our camera-centric architecture, combines multiple sensors (cameras, LiDARs and radars) with TuSimple Computer Vision technology, processing 600 trillion operations per second. We partnered with Sony to use its latest CMOS technology to design a proprietary camera system that has superior night vision. Our Computer Vision technology has broken 10 world records, ranking first at KITTI, Cityscapes, and on Waymo’s 2020 Open Dataset for 2D perception. Artificial Intelligence Solution for Perception Seeing is Not Enough: Proprietary AI Interpretation Our perception system provides rich context information about road conditions and behavior of other road users, which is essential for safety. Our L4 truck is not only aware of other vehicles but also their distance, speed, and vehicle type. Furthermore, it attempts to predict their intentions and future maneuvers. The system also performs extensive scenario classification to understand the entire context of Lane Centering Technology Like No Other the road. End Result: Unmatched Capabilities for TuSimple Our 1,000 meter perception has enabled us to be the only AV trucking company to demonstrate autonomous operations on both surface streets and highways up to 75 mph, positioning us as the industry leader. 8 Distribution %Our Unmatched 1,000 Meter Perception Capability (cont’d) TuSimple’s Record-Breaking Computer Vision We have designed a state-of-the-art system for image- Technology based perception. Our camera-centric architecture, combines multiple sensors (cameras, LiDARs and radars) with TuSimple Computer Vision technology, processing 600 trillion operations per second. We partnered with Sony to use its latest CMOS technology to design a proprietary camera system that has superior night vision. Our Computer Vision technology has broken 10 world records, ranking first at KITTI, Cityscapes, and on Waymo’s 2020 Open Dataset for 2D perception. Artificial Intelligence Solution for Perception Seeing is Not Enough: Proprietary AI Interpretation Our perception system provides rich context information about road conditions and behavior of other road users, which is essential for safety. Our L4 truck is not only aware of other vehicles but also their distance, speed, and vehicle type. Furthermore, it attempts to predict their intentions and future maneuvers. The system also performs extensive scenario classification to understand the entire context of Lane Centering Technology Like No Other the road. End Result: Unmatched Capabilities for TuSimple Our 1,000 meter perception has enabled us to be the only AV trucking company to demonstrate autonomous operations on both surface streets and highways up to 75 mph, positioning us as the industry leader. 8 Distribution %


Commercial Operations: Building Scale Revenue Miles (Thousands) All figures in ‘000s, unless otherwise noted 603 ~3.5x YoY Key Operating Metrics Q4’20 Q1’21 QoQ Growth % Total Truck Reservations EOQ ~4.6 ~5.8 26% Revenue Miles ~600 ~603 0.4% 173 (1) Total Mapped Miles EOQ ~4 ~5 32% Q1'20 Q1'21 AFN Expands To Meet our Strategic Customer’s Needs Our AFN commercial footprint continued to grow in Q1. We made revenue generating deliveries to ~25 unique AFN user terminals and launched two new major commercial Cumulative AFN Mapped Miles freight lanes from Dallas to Austin, and Dallas to San Antonio. Freight operations will continue to expand all the way to the east coast by the end of 2021 along the I-10, I-20, 5,000 I -30, and I-40 corridors to meet strategic customers’ ~5x YoY needs. Over the course of 2021, we will be launching operations ahead of schedule in major hubs such as Orlando, Charlotte, and Memphis. 1,000 TuSimple is committed to growing our commercial footprint by establishing a deep book of customer relationships with manual freight lanes ready to be Q1'20 Q1'21 converted to autonomous lanes in 2024. Delivering freight 24 hours a day 7 days a week gives our team real-world insights into the challenges our customers face that allow us to advance our products and prepare our customers for Testing & Commercial Deployment autonomy. We will continue to operate at a high level of service, delivering freight safely while also testing our autonomous driving system. 2 Trucks 50 Trucks 20 Trucks AFN Infrastructure Develops Alongside Freight Operations To support freight deliveries on the AFN, in Q1, TuSimple operated out of 4 dedicated terminals with two full-service terminals in Tucson and Dallas. Our Tucson terminal is currently undergoing significant expansion and we are th near completion of a 5 terminal in Fort Worth, Texas, Ø Testing & Revenue Operations slated to open Q2 of 2021. Our dedicated terminals supplement our runs to and from our AFN customers’ Ø Testing Operations terminals. Ø Shanghai Port Pilot Program 9 (1) The cumulative unique miles on the AFN on which we have built a map that is compatible with our autonomous driving softwareCommercial Operations: Building Scale Revenue Miles (Thousands) All figures in ‘000s, unless otherwise noted 603 ~3.5x YoY Key Operating Metrics Q4’20 Q1’21 QoQ Growth % Total Truck Reservations EOQ ~4.6 ~5.8 26% Revenue Miles ~600 ~603 0.4% 173 (1) Total Mapped Miles EOQ ~4 ~5 32% Q1'20 Q1'21 AFN Expands To Meet our Strategic Customer’s Needs Our AFN commercial footprint continued to grow in Q1. We made revenue generating deliveries to ~25 unique AFN user terminals and launched two new major commercial Cumulative AFN Mapped Miles freight lanes from Dallas to Austin, and Dallas to San Antonio. Freight operations will continue to expand all the way to the east coast by the end of 2021 along the I-10, I-20, 5,000 I -30, and I-40 corridors to meet strategic customers’ ~5x YoY needs. Over the course of 2021, we will be launching operations ahead of schedule in major hubs such as Orlando, Charlotte, and Memphis. 1,000 TuSimple is committed to growing our commercial footprint by establishing a deep book of customer relationships with manual freight lanes ready to be Q1'20 Q1'21 converted to autonomous lanes in 2024. Delivering freight 24 hours a day 7 days a week gives our team real-world insights into the challenges our customers face that allow us to advance our products and prepare our customers for Testing & Commercial Deployment autonomy. We will continue to operate at a high level of service, delivering freight safely while also testing our autonomous driving system. 2 Trucks 50 Trucks 20 Trucks AFN Infrastructure Develops Alongside Freight Operations To support freight deliveries on the AFN, in Q1, TuSimple operated out of 4 dedicated terminals with two full-service terminals in Tucson and Dallas. Our Tucson terminal is currently undergoing significant expansion and we are th near completion of a 5 terminal in Fort Worth, Texas, Ø Testing & Revenue Operations slated to open Q2 of 2021. Our dedicated terminals supplement our runs to and from our AFN customers’ Ø Testing Operations terminals. Ø Shanghai Port Pilot Program 9 (1) The cumulative unique miles on the AFN on which we have built a map that is compatible with our autonomous driving software


Commercial Operations: Building Scale (cont’d) Rapid Expansion across Southern US Ahead of Schedule Our AFN expansion is ahead of schedule. In Q1, we mapped ~1,200 miles of new lanes completing the Texas triangle and bringing our cumulative mapped network to ~5,000 miles, spanning from Phoenix to Dallas to Houston along I-10 and I-20 and expanding across the southeast to Memphis, Atlanta, Charlotte and Orlando by the end of 2021. Autonomous Freight Network Expanding to East Coast by End of 2021 Seattle Portland Minneapolis Boston Cleveland New York City Salt Lake City Chicago Philadelphia San Francisco Pittsburgh /Oakland Cincinnati Kansas City St. Louis Denver Norfolk Nashville Greensboro Oklahoma City Memphis Los Angeles Charlotte Phoenix /Long Beach Tucson Atlanta El Paso San Diego Dallas Jacksonville Orlando New Orleans San Antonio Houston Tampa Laredo Terminal Expansion Plans Regulatory Landscape L4 Autonomous Commercial Current Routes 24 Operations States Near-Term Expansion Plans [ 2021 ] L4 Autonomous Testing 43 States Future Expansion Plans [ 2022 – 2024] In Progress 10Commercial Operations: Building Scale (cont’d) Rapid Expansion across Southern US Ahead of Schedule Our AFN expansion is ahead of schedule. In Q1, we mapped ~1,200 miles of new lanes completing the Texas triangle and bringing our cumulative mapped network to ~5,000 miles, spanning from Phoenix to Dallas to Houston along I-10 and I-20 and expanding across the southeast to Memphis, Atlanta, Charlotte and Orlando by the end of 2021. Autonomous Freight Network Expanding to East Coast by End of 2021 Seattle Portland Minneapolis Boston Cleveland New York City Salt Lake City Chicago Philadelphia San Francisco Pittsburgh /Oakland Cincinnati Kansas City St. Louis Denver Norfolk Nashville Greensboro Oklahoma City Memphis Los Angeles Charlotte Phoenix /Long Beach Tucson Atlanta El Paso San Diego Dallas Jacksonville Orlando New Orleans San Antonio Houston Tampa Laredo Terminal Expansion Plans Regulatory Landscape L4 Autonomous Commercial Current Routes 24 Operations States Near-Term Expansion Plans [ 2021 ] L4 Autonomous Testing 43 States Future Expansion Plans [ 2022 – 2024] In Progress 10


“We have been working with TuSimple since 2019 and we see them as the clear leader in autonomous Commercial Operations: Adding Scale (cont’d) trucking technology which is why U.S. Xpress is among the first in line for reservations.” Significant Reservation Book with Blue Chip Customers (1) - Eric Fuller We increased reservations by 1,200 in Q1 and added an President & CEO, additional 1,000 in April. We currently have 6,775 U.S. Xpress reservations for Carrier-Owned Capacity with orders from roughly a dozen blue-chip shippers, carriers, and truck lessors including Penske, Schneider, and U.S. Xpress. Our reservation program gives select customers an opportunity to reserve trucks to be deployed on the AFN beginning in 2024. We work closely with our reservation partners to identify their network needs and prepare selected lanes today to de-risk adoption of autonomy for a plug and play solution when the trucks roll off the production line in 2024. We are in the preliminary preparation phases to expand our reservation program to a still selective group of high quality, sophisticated truck fleets. Robust Truck Reservations By Blue Chip Partners +17% 6,775 53% +26% 5,775 4,575 30% 6,775 reservations at 05/10/2021 17% Rail | Intermodal Carrier Shipper | Parcel Carrier Q4'20 Q1'21 5/10/2021 “We are excited to leverage Liberty Mutual Partnership Adds Insurance to the AFN our vast experience in safety and risk In early May, we announced TuSimple and Liberty Mutual management to support the continued roll out and scale of cutting-edge technologies in the will work together to better understand how autonomous trucking and logistics industry. This collaboration technologies perform in comparison to the same types of with TuSimple will advance our ongoing efforts to develop custom insurance solutions for trucks being driven manually by human drivers. We believe companies operating autonomous vehicle fleets, the benefits of autonomous vehicles are powerful and will today and into the future.” play a vital role in reducing the number of truck-related fatalities in the future. - David Blessing, Chief Underwriting Officer Liberty Mutual 11 (1) Reservations are non-binding. Typically, each reservation requires a $500 truck deposit, however, the deposit requirement has been waived for our equity investors that currently hold reservations.“We have been working with TuSimple since 2019 and we see them as the clear leader in autonomous Commercial Operations: Adding Scale (cont’d) trucking technology which is why U.S. Xpress is among the first in line for reservations.” Significant Reservation Book with Blue Chip Customers (1) - Eric Fuller We increased reservations by 1,200 in Q1 and added an President & CEO, additional 1,000 in April. We currently have 6,775 U.S. Xpress reservations for Carrier-Owned Capacity with orders from roughly a dozen blue-chip shippers, carriers, and truck lessors including Penske, Schneider, and U.S. Xpress. Our reservation program gives select customers an opportunity to reserve trucks to be deployed on the AFN beginning in 2024. We work closely with our reservation partners to identify their network needs and prepare selected lanes today to de-risk adoption of autonomy for a plug and play solution when the trucks roll off the production line in 2024. We are in the preliminary preparation phases to expand our reservation program to a still selective group of high quality, sophisticated truck fleets. Robust Truck Reservations By Blue Chip Partners +17% 6,775 53% +26% 5,775 4,575 30% 6,775 reservations at 05/10/2021 17% Rail | Intermodal Carrier Shipper | Parcel Carrier Q4'20 Q1'21 5/10/2021 “We are excited to leverage Liberty Mutual Partnership Adds Insurance to the AFN our vast experience in safety and risk In early May, we announced TuSimple and Liberty Mutual management to support the continued roll out and scale of cutting-edge technologies in the will work together to better understand how autonomous trucking and logistics industry. This collaboration technologies perform in comparison to the same types of with TuSimple will advance our ongoing efforts to develop custom insurance solutions for trucks being driven manually by human drivers. We believe companies operating autonomous vehicle fleets, the benefits of autonomous vehicles are powerful and will today and into the future.” play a vital role in reducing the number of truck-related fatalities in the future. - David Blessing, Chief Underwriting Officer Liberty Mutual 11 (1) Reservations are non-binding. Typically, each reservation requires a $500 truck deposit, however, the deposit requirement has been waived for our equity investors that currently hold reservations.


Our Financials: Investing in Growth Revenue ($ million) $0.9 AFN Expansion Drives Revenue Growth ~3x YoY Total revenue was ~$944,000 in Q1 2021, up ~4x year over $0.7 year. We also had strong sequential revenue growth with $0.6 revenue increasing by $207,000, or 28%, from Q4 2020 to Q1 28% 2021 . We achieved our steady growth in revenue by increasing the commercial utilization of our fleet and our 26% $0.3 $0.3 partner fleets, who supplement our capacity. 122% 2% R&D Investment Accelerates Alongside Technology Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Development -20% 2% 122% 26% 28% We intend to sustain and accelerate our investment in R&D as our ultimate success depends on perfecting the substantial technical breakthroughs we have achieved. R&D Expense ($ million) In Q1, we spent $41 million on R&D, up $23 million year-over- $41.4 year. Our largest portion of R&D expense was $25 million ~2x YoY related to R&D personnel, including stock-based $31.8 compensation expense of $2 million. $28.0 $22.0 Operating Expenses Increase to Support Commercialization $18.2 30% 13% We continue to increase our spend on General and 28% Administrative items (G&A) in order to scale our overall 21% organization and further develop our extensive set of industry-leading partners. We are hiring across many key (1) Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 functions that address issues such as regulation and AFN (1) Q3’20 adjusted R&D Expense excludes non-cash charge related to the issue § 8% 21% 28% 13% 30% operations. of TRATON warrants of $32M Our G&A expense increased by $9 million year-over-year for a total of $15 million in Q1. Our most significant G&A expense was $13 million in personnel-related expenses associated with management and administration activities, G&A ($ million) including $4 million in stock-based compensation. $15.3 $15.2 ~2x YoY $10.1 $6.7 $5.2 51% 193% (34)% (23)% Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 -2% -23% 193% -34% 51% 12 Note: (%)’s may not foot due to roundingOur Financials: Investing in Growth Revenue ($ million) $0.9 AFN Expansion Drives Revenue Growth ~3x YoY Total revenue was ~$944,000 in Q1 2021, up ~4x year over $0.7 year. We also had strong sequential revenue growth with $0.6 revenue increasing by $207,000, or 28%, from Q4 2020 to Q1 28% 2021 . We achieved our steady growth in revenue by increasing the commercial utilization of our fleet and our 26% $0.3 $0.3 partner fleets, who supplement our capacity. 122% 2% R&D Investment Accelerates Alongside Technology Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Development -20% 2% 122% 26% 28% We intend to sustain and accelerate our investment in R&D as our ultimate success depends on perfecting the substantial technical breakthroughs we have achieved. R&D Expense ($ million) In Q1, we spent $41 million on R&D, up $23 million year-over- $41.4 year. Our largest portion of R&D expense was $25 million ~2x YoY related to R&D personnel, including stock-based $31.8 compensation expense of $2 million. $28.0 $22.0 Operating Expenses Increase to Support Commercialization $18.2 30% 13% We continue to increase our spend on General and 28% Administrative items (G&A) in order to scale our overall 21% organization and further develop our extensive set of industry-leading partners. We are hiring across many key (1) Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 functions that address issues such as regulation and AFN (1) Q3’20 adjusted R&D Expense excludes non-cash charge related to the issue § 8% 21% 28% 13% 30% operations. of TRATON warrants of $32M Our G&A expense increased by $9 million year-over-year for a total of $15 million in Q1. Our most significant G&A expense was $13 million in personnel-related expenses associated with management and administration activities, G&A ($ million) including $4 million in stock-based compensation. $15.3 $15.2 ~2x YoY $10.1 $6.7 $5.2 51% 193% (34)% (23)% Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 -2% -23% 193% -34% 51% 12 Note: (%)’s may not foot due to rounding


Our Financials: Investing in Growth (cont’d) Tucson Terminal Operations Capital Investment to Support AFN Infrastructure Our capital expenditures and payments on capital leases are investments to grow our AFN and primarily relate to our fleet testing, terminal facilities, and other equipment used in operations. During Q1, TuSimple invested a total of $1.2 million in capital expenditures as well as $200,000 in principal payments on capital leases. At quarter-end, property and equipment (net of accumulated depreciation) and equipment financed under capital leases (net of accumulated amortization) were $23 million and $5 million, respectively. Cash Position Provides Substantial Development Runway TuSimple Listing Day We began Q1 with $311 million of cash and ended the quarter with $509 million. Our net cash burn of $49 million was primarily due to a net loss of $385 million, partially offset by a $327 million non-cash change in fair value of warrants liability. We raised $245 million, $183 million from Navistar and TRATON exercising their right to purchase additional Series-E convertible preferred stock and $62 million from the issuance of redeemable convertible preferred stock. In April, we raised over $1 billion through our IPO. Full Year 2021 Guidance • Revenue of $5 - $7 million, driven in part by accelerating utilization of our fleet and enhanced AFN partner operations • R&D investment of $165 - $185 million excluding stock- (1) based compensation expense • G&A spend of $45 – $55 million excluding stock-based (1) compensation expense • Capital Expenditures of $5 – $8 million • We expect to end 2021 with a cash position in excess of $1.3B 13 (1) See the section titled “Non-GAAP Financial Measures” for important information regarding the non-GAAP measures used by TuSimpleOur Financials: Investing in Growth (cont’d) Tucson Terminal Operations Capital Investment to Support AFN Infrastructure Our capital expenditures and payments on capital leases are investments to grow our AFN and primarily relate to our fleet testing, terminal facilities, and other equipment used in operations. During Q1, TuSimple invested a total of $1.2 million in capital expenditures as well as $200,000 in principal payments on capital leases. At quarter-end, property and equipment (net of accumulated depreciation) and equipment financed under capital leases (net of accumulated amortization) were $23 million and $5 million, respectively. Cash Position Provides Substantial Development Runway TuSimple Listing Day We began Q1 with $311 million of cash and ended the quarter with $509 million. Our net cash burn of $49 million was primarily due to a net loss of $385 million, partially offset by a $327 million non-cash change in fair value of warrants liability. We raised $245 million, $183 million from Navistar and TRATON exercising their right to purchase additional Series-E convertible preferred stock and $62 million from the issuance of redeemable convertible preferred stock. In April, we raised over $1 billion through our IPO. Full Year 2021 Guidance • Revenue of $5 - $7 million, driven in part by accelerating utilization of our fleet and enhanced AFN partner operations • R&D investment of $165 - $185 million excluding stock- (1) based compensation expense • G&A spend of $45 – $55 million excluding stock-based (1) compensation expense • Capital Expenditures of $5 – $8 million • We expect to end 2021 with a cash position in excess of $1.3B 13 (1) See the section titled “Non-GAAP Financial Measures” for important information regarding the non-GAAP measures used by TuSimple


In Closing Q1 was a defining time in TuSimple’s history. We made critical progress in the development of our technology, and we are confident we will hit key milestones to enable an on- road, driver-out run this year. Meanwhile, we continue to pave the road to scaled revenue growth through our business initiatives with additions to the executive advisory board, a growing list of partners, and laying down the infrastructure of our AFN. TuSimple has embarked on a mission to fundamentally reshape a massive industry. We are building a suite of products that has never existed before. We are ready for the challenges this new frontier presents and prepared to provide creative solutions to integrate this technology successfully into our society. TuSimple is committed to staying humble and focused on making trucking safer, more environmentally friendly and more efficient. Thank you for your continued confidence in TuSimple. At TuSimple, we are building a Better Path Forward. Sincerely, Cheng Lu President and Chief Executive Officer Pat Dillon Chief Financial Officer 14In Closing Q1 was a defining time in TuSimple’s history. We made critical progress in the development of our technology, and we are confident we will hit key milestones to enable an on- road, driver-out run this year. Meanwhile, we continue to pave the road to scaled revenue growth through our business initiatives with additions to the executive advisory board, a growing list of partners, and laying down the infrastructure of our AFN. TuSimple has embarked on a mission to fundamentally reshape a massive industry. We are building a suite of products that has never existed before. We are ready for the challenges this new frontier presents and prepared to provide creative solutions to integrate this technology successfully into our society. TuSimple is committed to staying humble and focused on making trucking safer, more environmentally friendly and more efficient. Thank you for your continued confidence in TuSimple. At TuSimple, we are building a Better Path Forward. Sincerely, Cheng Lu President and Chief Executive Officer Pat Dillon Chief Financial Officer 14


TuSimple Conference Call Webcast – 2 p.m. PT May 10th, 2021 We will host a teleconference call at 2:00 PM Pacific time / 5:00 PM Eastern time on May 10th to discuss these results. Interested parties can access the call by dialing US/CA: (833) 519-1404 or International: (270) 215-9738 and entering conference ID: 2176603. Thank you for your interest in TuSimple. About TuSimple TuSimple, headquartered in San Diego, California, is an autonomous driving technology company employing more than 600 employees in the U.S. We have operations in Arizona and Texas, and globally in Europe, Japan and China. Founded in 2015, TuSimple is developing a commercial-ready Level 4 (SAE) fully autonomous driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4.0 trillion global truck freight industry through the company’s proprietary leading autonomous vehicle technology which makes it possible for trucks to see 1,000 meters away, operate nearly continuously while using 10% less fuel than trucks on the road today. For more information, please visit www.tusimple.com, and follow us on Twitter, YouTube, and LinkedIn. Disclaimer This letter and any accompanying oral presentation contain forward-looking statements. All statements other than statements of historical fact contained in this letter, including statements as to future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of TuSimple Holdings, Inc. and its subsidiaries (the Company , “we”, “our” and “us”), market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, you can identify forward-looking statements by terms such as “expect,” “plan,” “anticipate,” “intend,” “target,” “project,” “predict,” “potential,” “explore” or “continue” or the negative of these terms or other similar words. The Company has based these forward-looking statements largely on its current expectations and assumptions and on information available as of the date of this letter. The Company assumes no obligation to update any forward-looking statements after the date of this letter, except as required by law. The forward-looking statements contained in this letter and the accompanying oral presentation are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward- looking statements. These risks, uncertainties, assumptions and other factors include, but are not limited to, those related to autonomous driving being an emerging technology, the Company’s limited operating history in a new market, the regulations governing autonomous vehicles, the Company’s dependence on its senior management team, reliance on third-party suppliers, potential product liability or warranty claims and the protection of the Company’s intellectual property. Moreover, the Company operates in a competitive and rapidly changing environment, and new risks may emerge from time to time. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. It is not possible for the Company to predict all risks, nor can the Company assess the impact of all factors on its business or the markets in which it operates or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements the Company may make. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in our final prospectus dated April 14, 2021 filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2021 and our other filings with the SEC. These SEC filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. This letter also contains estimates, forecasts and other statistical data relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and contained in this letter and, accordingly, it cannot guarantee their accuracy or completeness. In addition, assumptions and estimates of the Company’s future performance and the future performance of the markets in which the Company 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 those expressed in the estimates. This letter and any accompanying oral presentation also contain estimates, forecasts and other statistical data relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and contained in this letter and, accordingly, it cannot guarantee their accuracy or completeness. In addition, assumptions and estimates of the Company’s future performance and the future performance of the markets in which the Company 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 those expressed in the estimates. Non-GAAP Financial Measures TuSimple has not reconciled its expectations for non-GAAP R&D expense and non-GAAP SG&A expense because the stock-based compensation expense excluded from such items cannot be reasonably calculated or predicted at this time. The effect of the excluded stock-based compensation may be significant . TuSimple uses these non-GAAP measures in conjunction with GAAP measures as part of its overall assessment of its performance and liquidity, including the preparation of its annual operating budget and quarterly forecasts, to evaluate the effectiveness of its business strategies, and to communicate with its board of directors concerning its financial performance and liquidity. TuSimple’s definitions of its non-GAAP measures may differ from those used by other companies for similarly-titled measures, and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Thus, TuSimple’s non- GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, the company’s GAAP results. TuSimple encourages investors and others to review its financial information in its entirety, not to rely on any single financial measure, and to view its non-GAAP measures in conjunction with GAAP financial measures. 15TuSimple Conference Call Webcast – 2 p.m. PT May 10th, 2021 We will host a teleconference call at 2:00 PM Pacific time / 5:00 PM Eastern time on May 10th to discuss these results. Interested parties can access the call by dialing US/CA: (833) 519-1404 or International: (270) 215-9738 and entering conference ID: 2176603. Thank you for your interest in TuSimple. About TuSimple TuSimple, headquartered in San Diego, California, is an autonomous driving technology company employing more than 600 employees in the U.S. We have operations in Arizona and Texas, and globally in Europe, Japan and China. Founded in 2015, TuSimple is developing a commercial-ready Level 4 (SAE) fully autonomous driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4.0 trillion global truck freight industry through the company’s proprietary leading autonomous vehicle technology which makes it possible for trucks to see 1,000 meters away, operate nearly continuously while using 10% less fuel than trucks on the road today. For more information, please visit www.tusimple.com, and follow us on Twitter, YouTube, and LinkedIn. Disclaimer This letter and any accompanying oral presentation contain forward-looking statements. All statements other than statements of historical fact contained in this letter, including statements as to future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of TuSimple Holdings, Inc. and its subsidiaries (the Company , “we”, “our” and “us”), market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, you can identify forward-looking statements by terms such as “expect,” “plan,” “anticipate,” “intend,” “target,” “project,” “predict,” “potential,” “explore” or “continue” or the negative of these terms or other similar words. The Company has based these forward-looking statements largely on its current expectations and assumptions and on information available as of the date of this letter. The Company assumes no obligation to update any forward-looking statements after the date of this letter, except as required by law. The forward-looking statements contained in this letter and the accompanying oral presentation are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward- looking statements. These risks, uncertainties, assumptions and other factors include, but are not limited to, those related to autonomous driving being an emerging technology, the Company’s limited operating history in a new market, the regulations governing autonomous vehicles, the Company’s dependence on its senior management team, reliance on third-party suppliers, potential product liability or warranty claims and the protection of the Company’s intellectual property. Moreover, the Company operates in a competitive and rapidly changing environment, and new risks may emerge from time to time. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. It is not possible for the Company to predict all risks, nor can the Company assess the impact of all factors on its business or the markets in which it operates or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements the Company may make. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in our final prospectus dated April 14, 2021 filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2021 and our other filings with the SEC. These SEC filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. This letter also contains estimates, forecasts and other statistical data relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and contained in this letter and, accordingly, it cannot guarantee their accuracy or completeness. In addition, assumptions and estimates of the Company’s future performance and the future performance of the markets in which the Company 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 those expressed in the estimates. This letter and any accompanying oral presentation also contain estimates, forecasts and other statistical data relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and contained in this letter and, accordingly, it cannot guarantee their accuracy or completeness. In addition, assumptions and estimates of the Company’s future performance and the future performance of the markets in which the Company 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 those expressed in the estimates. Non-GAAP Financial Measures TuSimple has not reconciled its expectations for non-GAAP R&D expense and non-GAAP SG&A expense because the stock-based compensation expense excluded from such items cannot be reasonably calculated or predicted at this time. The effect of the excluded stock-based compensation may be significant . TuSimple uses these non-GAAP measures in conjunction with GAAP measures as part of its overall assessment of its performance and liquidity, including the preparation of its annual operating budget and quarterly forecasts, to evaluate the effectiveness of its business strategies, and to communicate with its board of directors concerning its financial performance and liquidity. TuSimple’s definitions of its non-GAAP measures may differ from those used by other companies for similarly-titled measures, and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Thus, TuSimple’s non- GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, the company’s GAAP results. TuSimple encourages investors and others to review its financial information in its entirety, not to rely on any single financial measure, and to view its non-GAAP measures in conjunction with GAAP financial measures. 15


TuSimple Consolidated Balance Sheets TuSimple Holdings Inc. Condensed Consolidated Balance Sheets (in thousands, except share data) (unaudited) December 31, March 31, 2020 2021 ASSETS Current assets: Cash and cash equivalents $ 310,815 $ 508,706 Restricted cash 1,536 785 Accounts receivable, net 1,144 1,429 Prepaid expenses and other current assets 2,280 5,640 Amounts due from related parties 3,708 3,715 Total current assets 319,483 520,275 Property and equipment, net 22,116 23,030 Other assets 4,986 5,054 Total assets $ 346,585 $ 548,359 LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDER’S DEFICIT Current liabilities: Accounts payable 4,542 $ 13,779 Amounts due to related parties 5,715 9,660 Accrued expenses and other current liabilities 22,961 16,826 Short-term debt 4,623 4,670 Warrants liability 42,452 — Capital lease liabilities, current 805 825 Total current liabilities 81,098 45,760 Capital lease liabilities, noncurrent 3,767 3,556 Other liabilities 2,402 3,673 Total liabilities 87,267 52,989 Commitments and contingencies (Note 4) Redeemable convertible preferred stock, $0.0001 par value; 138,102,770 and 138,102,770 shares authorized; 102,074,703 and 120,534,419 shares issued and outstanding as of December 31, 2020 and March 31, 2021, 664,791 1,282,916 respectively; aggregate liquidation preference of $598,842 and $847,614 as of December 31, 2020 and March 31, 2021, respectively Stockholders' deficit: Common stock, $0.0001 par value, 361,897,230 and 361,897,230 shares authorized; 6 6 60,543,337 and 60,603,953 shares issued and outstanding as of December 31, 2020 and March 31, 2021, respectively Additional paid-in-capital — 2,176 Accumulated deficit (405,178) (790,338) Accumulated other comprehensive income (loss) (301) 610 Total stockholders’ deficit (405,473) (787,546) Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $ 346,585 $548,359 16TuSimple Consolidated Balance Sheets TuSimple Holdings Inc. Condensed Consolidated Balance Sheets (in thousands, except share data) (unaudited) December 31, March 31, 2020 2021 ASSETS Current assets: Cash and cash equivalents $ 310,815 $ 508,706 Restricted cash 1,536 785 Accounts receivable, net 1,144 1,429 Prepaid expenses and other current assets 2,280 5,640 Amounts due from related parties 3,708 3,715 Total current assets 319,483 520,275 Property and equipment, net 22,116 23,030 Other assets 4,986 5,054 Total assets $ 346,585 $ 548,359 LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDER’S DEFICIT Current liabilities: Accounts payable 4,542 $ 13,779 Amounts due to related parties 5,715 9,660 Accrued expenses and other current liabilities 22,961 16,826 Short-term debt 4,623 4,670 Warrants liability 42,452 — Capital lease liabilities, current 805 825 Total current liabilities 81,098 45,760 Capital lease liabilities, noncurrent 3,767 3,556 Other liabilities 2,402 3,673 Total liabilities 87,267 52,989 Commitments and contingencies (Note 4) Redeemable convertible preferred stock, $0.0001 par value; 138,102,770 and 138,102,770 shares authorized; 102,074,703 and 120,534,419 shares issued and outstanding as of December 31, 2020 and March 31, 2021, 664,791 1,282,916 respectively; aggregate liquidation preference of $598,842 and $847,614 as of December 31, 2020 and March 31, 2021, respectively Stockholders' deficit: Common stock, $0.0001 par value, 361,897,230 and 361,897,230 shares authorized; 6 6 60,543,337 and 60,603,953 shares issued and outstanding as of December 31, 2020 and March 31, 2021, respectively Additional paid-in-capital — 2,176 Accumulated deficit (405,178) (790,338) Accumulated other comprehensive income (loss) (301) 610 Total stockholders’ deficit (405,473) (787,546) Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $ 346,585 $548,359 16


TuSimple Consolidated Statements of Operations TuSimple Holdings Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) Three Months Ended (unaudited) March 31, 2020 2021 Revenue $ 259 $ 944 Costs and expenses: Cost of revenue 771 2,246 Research and development 18,182 41,434 Sales and marketing 437 678 General and administrative 6,726 15,224 Total costs and expenses 26,116 59,582 Loss from operations (25,857) (58,638) Change in fair value of warrants liability — (326,900) Other income, net 96 378 Loss before provision for income taxes (25,761) (385,160) Provision for income taxes — — Net loss (25,761) (385,160) Accretion of redeemable convertible preferred stock — (4,135) Net loss attributable to common stockholders (25,761) (389,295) Net loss per share attributable to common stockholders, basic and diluted $ (0.45) $ (6.43) Weighted-average shares used in computing net loss per share attributable 56,679,887 60,576,886 to common stockholders, basic and diluted 17TuSimple Consolidated Statements of Operations TuSimple Holdings Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) Three Months Ended (unaudited) March 31, 2020 2021 Revenue $ 259 $ 944 Costs and expenses: Cost of revenue 771 2,246 Research and development 18,182 41,434 Sales and marketing 437 678 General and administrative 6,726 15,224 Total costs and expenses 26,116 59,582 Loss from operations (25,857) (58,638) Change in fair value of warrants liability — (326,900) Other income, net 96 378 Loss before provision for income taxes (25,761) (385,160) Provision for income taxes — — Net loss (25,761) (385,160) Accretion of redeemable convertible preferred stock — (4,135) Net loss attributable to common stockholders (25,761) (389,295) Net loss per share attributable to common stockholders, basic and diluted $ (0.45) $ (6.43) Weighted-average shares used in computing net loss per share attributable 56,679,887 60,576,886 to common stockholders, basic and diluted 17


TuSimple Consolidated Statements of Cash Flows TuSimple Holdings Inc. Condensed Consolidated Statements of Cash Flows Three Months Ended (in thousands) March 31, (unaudited) 2020 2021 Cash flows from operating activities: Net loss $ (25,761) $ (385,160) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,227 6,289 Depreciation and amortization 1,825 2,110 Change in fair value of warrants liability — 326,900 Changes in operating assets and liabilities: Accounts receivable (17) (285) Prepaid expenses and other current assets 1,055 (3,360 Other assets (120) (152) Accounts payable 1,143 9,237 Amounts due to/from related parties (386) 4,558 Accrued expenses and other current liabilities (2,262) (8,217) Other liabilities 932 1,347 Net cash used in operating activities (22,364) (46,733) Cash flows from investing activities: Purchases of property and equipment (1,120) (1,210) Purchases of intangible assets (62) (87) Proceeds from disposal of property and equipment — 100 Net cash used in investing activities (1,182) (1,197) Cash flows from financing activities: Proceeds from issuance of redeemable convertible preferred stock — 61,631 Proceeds from exercise of warrants for redeemable convertible preferred stock — 183,007 Proceeds from exercise of stock options — 253 Principal payments on related party loan — (613) Principal payments on capital lease obligations — (191) Principal payments on other liabilities (171) (117) Net cash provided by (used in) financing activities (171) 243,970 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (42) 1,100 Net increase (decrease) in cash, cash equivalents, and restricted cash (23,759) 197,140 64,110 312,351 Cash, cash equivalents, and restricted cash - beginning of period Cash, cash equivalents, and restricted cash - end of period $ 40,351 $ 509,491 Supplemental disclosure of cash flow information: Cash paid for interest $ 173 $ 195 Supplemental schedule of non-cash investing and financing activities: Acquisitions of property and equipment included in liabilities $ 686 $ 1,939 Accretion of redeemable convertible preferred stock — $ 4,135 Vesting of early exercised stock options — $ 21 Exercise of liability-classified warrants — $ 369,352 Cashless exercise of stock options for common stock $ 975 — 18TuSimple Consolidated Statements of Cash Flows TuSimple Holdings Inc. Condensed Consolidated Statements of Cash Flows Three Months Ended (in thousands) March 31, (unaudited) 2020 2021 Cash flows from operating activities: Net loss $ (25,761) $ (385,160) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,227 6,289 Depreciation and amortization 1,825 2,110 Change in fair value of warrants liability — 326,900 Changes in operating assets and liabilities: Accounts receivable (17) (285) Prepaid expenses and other current assets 1,055 (3,360 Other assets (120) (152) Accounts payable 1,143 9,237 Amounts due to/from related parties (386) 4,558 Accrued expenses and other current liabilities (2,262) (8,217) Other liabilities 932 1,347 Net cash used in operating activities (22,364) (46,733) Cash flows from investing activities: Purchases of property and equipment (1,120) (1,210) Purchases of intangible assets (62) (87) Proceeds from disposal of property and equipment — 100 Net cash used in investing activities (1,182) (1,197) Cash flows from financing activities: Proceeds from issuance of redeemable convertible preferred stock — 61,631 Proceeds from exercise of warrants for redeemable convertible preferred stock — 183,007 Proceeds from exercise of stock options — 253 Principal payments on related party loan — (613) Principal payments on capital lease obligations — (191) Principal payments on other liabilities (171) (117) Net cash provided by (used in) financing activities (171) 243,970 Effect of exchange rate changes on cash, cash equivalents, and restricted cash (42) 1,100 Net increase (decrease) in cash, cash equivalents, and restricted cash (23,759) 197,140 64,110 312,351 Cash, cash equivalents, and restricted cash - beginning of period Cash, cash equivalents, and restricted cash - end of period $ 40,351 $ 509,491 Supplemental disclosure of cash flow information: Cash paid for interest $ 173 $ 195 Supplemental schedule of non-cash investing and financing activities: Acquisitions of property and equipment included in liabilities $ 686 $ 1,939 Accretion of redeemable convertible preferred stock — $ 4,135 Vesting of early exercised stock options — $ 21 Exercise of liability-classified warrants — $ 369,352 Cashless exercise of stock options for common stock $ 975 — 18


TuSimple Share count Reconciliation TuSimple Holdings Inc. Share Count Reconciliation # of Shares Common Stock Outstanding as of March 31, 2021 60,603,953 Class A and B Common Stock Class A common stock issued in the IPO 27,027,027 Class A common stock issued in concurrent private placement 874,999 1:1 conversion of preferred stock to Class A common stock upon IPO 120,534,419 Class A common stock to be issued upon settlement of vested RSUs and SVAs 3,426,096 Pro Forma Class A and B Common Stock Post-IPO 212,466,494 Dilutive Securities Not Included in Above Share Count Outstanding Options 15,311,313 Unvested RSUs and SVAs 1,324,390 Fully Diluted Pro Forma Class A and B Common Stock Post-IPO 229,102,197 19TuSimple Share count Reconciliation TuSimple Holdings Inc. Share Count Reconciliation # of Shares Common Stock Outstanding as of March 31, 2021 60,603,953 Class A and B Common Stock Class A common stock issued in the IPO 27,027,027 Class A common stock issued in concurrent private placement 874,999 1:1 conversion of preferred stock to Class A common stock upon IPO 120,534,419 Class A common stock to be issued upon settlement of vested RSUs and SVAs 3,426,096 Pro Forma Class A and B Common Stock Post-IPO 212,466,494 Dilutive Securities Not Included in Above Share Count Outstanding Options 15,311,313 Unvested RSUs and SVAs 1,324,390 Fully Diluted Pro Forma Class A and B Common Stock Post-IPO 229,102,197 19


TUSIMPLE BY THE NUMBERS (1) (1) (1) 950+ $1.8B+ 275+ 70 Employees Cumulative Core Technology Autonomous Across 3 Funding-to- Patents Trucks Globally Continents with date, from IPO ~84% of and Private workforce Capital Raises dedicated to R&D (1) (1) (2) ~3.7MM ~ 5,000 ~ $2MM 6,775 Road Miles Miles of Mapped 2020 Revenue Purpose-built, Routes L4 Driver-Out Autonomous Truck Reservations 20 (1) As of March .2021 (2) As of May 2021TUSIMPLE BY THE NUMBERS (1) (1) (1) 950+ $1.8B+ 275+ 70 Employees Cumulative Core Technology Autonomous Across 3 Funding-to- Patents Trucks Globally Continents with date, from IPO ~84% of and Private workforce Capital Raises dedicated to R&D (1) (1) (2) ~3.7MM ~ 5,000 ~ $2MM 6,775 Road Miles Miles of Mapped 2020 Revenue Purpose-built, Routes L4 Driver-Out Autonomous Truck Reservations 20 (1) As of March .2021 (2) As of May 2021


TuSimple Website Privacy Policy

Effective:

Updated: 

This is TuSimple’s Website Privacy Policy (“Privacy Policy”). To TuSimple (“we” or “us” or “our”), your privacy is of the utmost importance. This Privacy Policy explains how we collect, use, disclose, share, and safeguard your personal information when you visit our website. at www.TuSimple.com, engage with our marketing operations, or when you contact us, including through email or social media. For simplicity, in this Privacy Statement we call all of these activities “interacting with TuSimple.” Please read this Privacy Policy carefully. If you do not agree with the terms of this Privacy Policy, please do not access this website.

This Privacy Policy applies to information we collect when you use our websites and other products and services that link to this Privacy Policy (collectively, the "Services"). We may supply a different privacy policy in relation to some of our Services, and that policy will apply to any information provided to or collected by us pursuant to those Services.This Privacy Statement does not apply to personal information we obtain from individuals interacting with other TuSimple products and services such as vehicles or mobile applications. 

We operate in the United States and this Privacy Statement is intended for users located in the United States. If you are located outside of the U.S., please be aware that the information we collect will be processed in the U.S. and will be subject to U.S. law. By accessing or using the Services or otherwise providing information to us, you consent to the processing, transfer and storage of information in and to the U.S. and other countries, where you may not have the same rights and protections as you do under local law.

 

Personal Information We Collect and How We Use and Share It

Presently, the personal information we may collect includes:

  • Information You Provide. This information may include personally identifiable information, such as your name, address, email address, phone number, and demographic information, such as your age, gender, hometown, and interests. 
    • This information may be collected when you choose to interact with our website, as well as with third-party websites that are linked with our website, including social media. 
    • We may also collect information disclosed when entering contests, sweepstakes, or submitting surveys we, or a third-party on our behalf, may run. 
    • Data provided by you from communications and other feedback, including questions, vulnerability reports, and other messages you address to us directly such as email or online forms may also be collected. 
  • Automatically Collected Information. When you visit our website, we may use automatic data collection technologies to collect certain information, such as: 
    • Access times;
    • The pages you have viewed directly before and after accessing the website.
    • Internet Protocol (“IP”) addresses of the devices you're using to interact with us online; 
    • Tools such as cookies and other local storage used by websites and web browsers to maintain information regarding your previous activities on a site;
    • Information regarding your internet connection including your Internet Service Provider, connection type, and approximate city level location of your internet connection based on IP address; 
    • Information about how the device is interacting with our Website and social media accounts;
    • Type and version of your device’s operating system and web browser;
    • Specific interactions with our Website (such as which pages you viewed, in what order, and how long you engaged with each page); and
    • Error logs.

The technologies we use for this automatic data collection may include cookies, web beacons, tracking pixels, and other tracking technologies on our website, including:

  • Google Analytics. We use Google Analytics to help us understand your use of our website and the popularity of certain content so we can improve your experience. You can learn about Google’s privacy practices at www.google.com/policies/privacy/partners/, and you can opt out of Google Analytics by downloading the Google Analytics opt-out browser add-on, available at https://tools.google.com/dlpage/gaoptout.
  • LinkedIn Insights Tag. We use LinkedIn Insights Tag to retarget our website visitors and learn insights about your interactions with our LinkedIn advertisements. You can learn about LinkedIn’s privacy practices at www.linkedin.com/legal/privacy-policy, and you can opt out of LinkedIn Insights Tag at www.linkedin.com/psettings/.
  • Google Ads. We use Google Ads to help us determine how effective our ad campaigns are. You can learn about Google’s privacy practices relating to Google Ads at policies.google.com/privacy, and you can prevent your participation in Google Ads conversion tracking by setting your browser to block cookies from the domain www.googleadservices.com.

Like many companies, we and our service providers may use "cookies" and other tracking technologies to gather information about your visit to our Website (see “Information We Collect” above). We use these tools to measure site activity, provide a better user experience, and to deliver, evaluate and tailor our marketing communications and online advertisements for you. Cookies are used by websites and web browsers to maintain information regarding your previous activities on a website, including what content has been displayed to you. Cookies are also used to optimize the performance of our Website.

Some content, including advertisements, on our website may be served by third parties, including advertisers and ad networks. These third parties may use cookies, alone or in conjunction with pixels, web beacons or other tracking technologies, to collect information about you when you use our website. The information they collect may be associated with your personal information or they may collect information, including personal information, about your online activities over time and across different websites and other online services. They may use this information to provide you with personalized ads or other targeted content. You can generally opt out of receiving personalized ads from third party advertisers and ad networks who are members of the Network Advertising Initiative (NAI) or who follow the Digital Advertising Alliance’s Self-Regulatory Principles for Online Behavioral Advertising by visiting the opt out pages on the NAI website and DAA website.

We may use the personal information you provide to us or that we collect about you to:

  • Respond to an email or other inquiry or request, including to fulfill your request to subscribe to a TuSimple newsletter;
  • Customize your experience on our website;
  • Deliver advertisements to you, including on other websites you visit;
  • Compile anonymous statistical data and analysis for use internally or with third parties;
  • Provide, maintain, analyze, and improve our Website;
  • Monitor and analyze usage and trends to improve the functionality of our website;
  • Perform other business activities as needed, such as for recruiting purposes; and
  • Fulfill any other purpose for which you provide your information or to which you otherwise consent.
  • Develop new products and services;
  • Communicate with you for a range of reasons (including providing information, including updates and notices, we think will be of interest to you, conducting surveys, and responding to your comments, questions, and requests);
  • Protect the rights and property of TuSimple, our users, and others; 
  • Detect, prevent, and respond to fraud, abuse, and security issues; and
  • Carry out any other purpose described to you at the time the information was collected.

We may aggregate or de-identify information such that it is no longer linked to you or your device. This notice does not limit our ability to use or disclose aggregated or de-identified information that is not linked to you.

We will not sell or rent your personal information to anyone.

At all times, TuSimple reserves the right to disclose your personal information where required by law or to comply with a valid legal process (such as a search warrant, subpoena, or court order), to investigate or remedy potential violations of our policies, to protect TuSimple’s rights or property, or during emergencies when personal safety is at risk.

We may also share your personal information with our third-party service providers (but only as necessary to provide services to us) and our affiliates, in which case we will require those third-party service providers and affiliates to keep such information confidential and use it only for the purposes for which we disclose it to them.

Among the third-party service providers that TuSimple uses, and which may collect your personal information on TuSimple’s behalf in order to provide services to TuSimple, are the following:

  • MailChimp. We use MailChimp to send newsletters and related communications when you sign up for a newsletter subscription or otherwise opt into communications from us. You can review MailChimp’s privacy policy at https://mailchimp.com/legal/privacy.
  • Greenhouse. We use Greenhouse to assist with our employee recruitment and hiring process. You can review Greenhouse’s privacy policy at https://www.greenhouse.io/privacy-policy.

Finally, we may share your personal information with a buyer or other successor company in the event of a merger, divestiture, restructuring, reorganization, dissolution, or other sale or transfer of some or all of TuSimple’s assets, whether as a going concern or as part of a bankruptcy, liquidation, or similar proceeding, in which personal information held by TuSimple about our website visitors is among the assets transferred.

Your Choices

If you have any questions as to how we collect and use your personal information, or would like to opt out of any future contacts from us, please contact us at privacy@tusimple.ai. In addition, to the extent required by applicable law, you may have the right to request access to or delete your personal information. If you wish to do any of these things, please contact us at the email address listed above.

Do Not Track Features

Most web browsers and some mobile operating systems include a Do-Not-Track (“DNT”) feature or setting you can activate to signal your privacy preference not to have data about your online browsing activities monitored and collected. There is no final uniform technology standard for recognizing and implementing DNT signals. As a result, we do not currently respond to DNT browser signals or any other mechanism that automatically communicates your choice not to be tracked online. If a standard for online tracking is adopted that we must follow in the future, we will inform you about that practice in a revised version of this Privacy Policy.

Links to External Websites

For your convenience and informational purposes, our Website may contain links to external websites that are not owned or controlled by TuSimple. TuSimple has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any external websites. If you visit such sites, your activities and the collection, use, and disclosure of information will be subject to the privacy policies and terms of the external websites or services, and not this Privacy Statement.

Children’s Privacy

TuSimple’s website is not intended for children. It is intended for adults. We do not knowingly collect personal information from children under the age of 13. If we find out that a child under 13 has given us personal information, we will take steps to delete that information.

Security

We have implemented reasonable measures designed to secure your personal information from accidental loss and from unauthorized access, use, alteration and disclosure. But no security measures are 100% secure and, thus, we cannot guarantee the security of your information. Any transmission of personal information is at your own risk. We are not responsible for the circumvention by any third party of any privacy settings or security measures we implement.

Job Candidate Privacy

For information regarding your privacy as a candidate for a position with TuSimple, please visit our Candidate Privacy Statement.

Privacy Inquiries and Information Requests

In some places you may have certain rights under privacy and data protection laws. These may include the right to request to have your personal information updated or deleted, to access your personal information, or to object to TuSimple using that personal information for certain purposes. These rights are subject to verification and certain exceptions. If you are a California resident, for instance, state law affords you certain privacy rights. You can learn more about these in the next section, “California Privacy Rights and Additional Information.”

No matter where you are from, if you have questions or concerns about TuSimple’s privacy practices or this Privacy Statement, please contact us at privacy@tusimple.ai.

California Privacy Rights and Additional Information

California Data Access and Deletion Rights

If you are a California resident, the California Consumer Privacy Act (“CCPA”) allows you to make certain requests about your personal information (as defined in the CCPA). Specifically, the CCPA allows you to request that we:

  • Inform you about the categories of personal information we collect or disclose about you; the categories of sources of such information; the business or commercial purpose for collecting your personal information; and the categories of third-parties with whom we share/disclose personal information. 
  • Provide access to and/or a copy of certain personal information we hold about you.
  • Delete certain personal information we have about you.
  • Provide you with information about the financial incentives that we offer to you, if any.

Please note that certain information may be exempt from such requests under California law. For example, we need certain information in order to provide our Website to you.

  • Verification: Depending on the sensitivity of the information you are requesting and the type of request you are making, we will take reasonable steps to verify your identity based on the information that we currently possess. This may include, at a minimum, verifying your contact information and matching it with our records.
  • Authorized Agent: You are also permitted to designate an authorized agent to submit certain requests on your behalf. In order for an authorized agent to be verified, you must provide the authorized agent with signed, written permission to make such requests or a power of attorney. We may also follow up with you to verify your identity before processing the authorized agent’s request. 

The CCPA further provides you with the right not to be discriminated against (as provided for by applicable law) for exercising your access or deletion rights.

If you would like to exercise these rights please contact us as privacy@tusimple.ai.

California “Shine the Light” Disclosure

If you are a California resident you have the right to request information from TuSimple regarding the manner in which TuSimple shares certain categories of your personal information with third-parties, for the third-parties’ direct marketing purposes. We do not share personal information for such purposes.

Updates

We reserve the right to make changes to this Privacy Policy from time to time and for any reason. You should check this Privacy Policy regularly to see if there have been any changes. We will alert you about any changes by updating the “Updated” date of this Privacy Policy. You will be deemed to have been made aware of, will be subject to, and will be deemed to have accepted changes in any revised Privacy Policy by your continued use of the website after the date the revised Privacy Policy is posted.

Questions and Comments

If you have questions or comments about this Privacy Policy, please email us at privacy@tusimple.ai.


TuSimple Privacy Statement for Applicants and Candidates

This Privacy Statement explains what information we collect during the application and recruitment process, how we use that information, and how you may access and update it.

Scope

TuSimple’s hiring process consists of multiple steps designed to evaluate your skills and qualifications for a particular position. When you choose to participate in the TuSimple hiring process, TuSimple may collect or obtain personal information about you. This information may include:

  • Name, address, email address, telephone number, and other contact information
  • Resume or CV and employment history
  • Driving history (where applicable)
  • Voluntary demographic information, including gender, race, ethnicity, citizenship, and/or nationality
  • Veteran status
  • Health information (only if required by law)
  • A government-issued ID (only where required by job responsibilities)
  • US Work Authorization Documentation

TuSimple will use the information that you provide to assist in our recruitment and hiring process, including the following:

  • Evaluating you for current and future job opportunities, including matching your skills and interests to applicable job requirements; 
  • Communicating with you throughout the hiring process; 
  • Complying with applicable laws, regulations, legal processes or government requests or inquiries; and 
  • Improving our hiring and/or recruitment processes, including improving our diversity and inclusion efforts. 
  • If you are offered and accept employment with TuSimple, information collected about you during the hiring process may become part of your employment record.

Data Retention and Deletion

We will retain your personal information for the period necessary to fulfill the purposes outlined in this statement unless longer retention is required by law or for auditing purposes. 

Privacy Inquiries and Correcting Your Information

If you have concerns or questions about this Privacy Statement for Applicants and Candidates or about TuSimple’s privacy practices, you may contact us at privacy@tusimple.ai

In some places, you may have certain rights under data protection law. These may include the right to have your information updated or deleted, to access your information, or to object to TuSimple using it for certain purposes.

If you wish to access, correct, or delete your information, please contact privacy@tusimple.ai. We will process requests in accordance with applicable law, and there may be circumstances where we are not able to comply with your request.

Updates to Privacy Statement

We may update this Privacy Statement from time to time. We will post any changes to this policy to this page.