Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 2, 2022
TuSimple Holdings Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-40326 86-2341575
(State or other jurisdiction
of incorporation)
File Number)
(IRS Employer
Identification No.)
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)
(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 
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 August 2, 2022, TuSimple Holdings Inc. (“TuSimple” or the “Company”) will hold a conference call regarding its financial results for the fiscal quarter ended June 30, 2022. TuSimple also issued a letter to its stockholders announcing its financial results for the fiscal quarter ended June 30, 2022 (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.

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/ Eric Tapia
Eric Tapia
Interim Chief Financial Officer
Dated: August 2, 2022

Q2 2022 Letter to Shareholders August 2, 2022

Dear Shareholders During Q2, we continued our journey towards realizing our mission to solve the trucking industry's most pressing challenges by enabling reliable, low-cost freight capacity as a service while embarking on a new standard for safety and fuel efficiency. For the remainder of 2022 and into 2023, we will continue to drive towards this goal by preparing for Driver Out operations in the Texas Triangle. As we prepare for Driver Out operations, we will continue to do so in a measured manner as we aim to strike a balance between hitting our technology milestones and prudent spending, which is reflected in our updated guidance. We are excited about the progress we’ve made and look forward to continuing to share new developments with you as we, and all stakeholders work towards realizing our mission. 2 TuSimple Letter to Shareholders Q2 Highlights ▪ Announced leadership changes with the addition of two key positions as we continue transitioning from testing to commercialization and, ultimately wide deployment of autonomous trucking technology ▪ Expanded our patent portfolio with 37 new patents as we continue to focus on technologies to support efficient commercial AV operations ▪ Announced our partnership with global logistics leader, Hegelmann Group ▪ Enhanced our government affairs and advocacy efforts ▪ Updated 2022 adjusted EBITDA, stock-based compensation, CapEx and ending cash balance guidance TuSimple Drives Toward L4 Driver Out Commercialization The Path to Driver Out Commercialization by End of 2023 Day and night operations Additional Driver Out routes, including in Texas Removing the support vehicles Hauling customer freight on driverless runs Significant reductions in cost per mile, with clear line of sight to cost parity with human-driven trucks

As we shared at our Investor Day in May this year, we are now in a critical stage of transitioning from technology development and completing safe Driver Out to commercialization. There are many components: advancing our technology, improving our operations, reducing costs, investing in strong partnerships, and more–but we will focus on delivering safe commercial operations and achieving cost efficiency. An important part of our plans includes putting the right resources and leadership in place required to achieve our mission. We are excited to highlight key organizational changes and leadership appointments designed to accelerate success to reach this objective. Isabella Zhou has been promoted to Chief Human Resources Officer We believe that adding and retaining leading technical and commercial talent is a key component in our efforts to make our autonomous trucking technology more robust and scalable as we push towards commercialization. In this position, Isabella will provide strategic value through identification and retention of top talent, leadership development, and organizational planning. Eric Tapia named Interim-Chief Financial Officer Chief Financial Officer Patrick Dillon has left the company to pursue other opportunities. Eric Tapia, TuSimple's Global Controller and Principal Accounting Officer, has been named Interim-Chief Financial Officer. Ersin Yumer has been promoted to Executive VP for Operations One of our biggest challenges is ensuring our Autonomous Freight Network is ready for Driver Out operations. We expect to expand the operational domain of Driver Out operations while building density within our AFN. As our new Executive Vice President for Operations, Ersin has worked extensively on our AFN and will lead the charge on this in his new position, focusing on technology operations. Lei Wang has been promoted to Executive VP for Technology To lead all of our technology efforts, Lei will take on the role of Executive Vice President for Technology. He will continue to lead the advancement of hardware, software, and algorithm technology required to install safe and reliable Driver Out capability. With more than 8 million miles driven by TuSimple's autonomous vehicles, we are laser focused on transitioning to the next stage: Driver Out commercialization. As TuSimple continues down this path, we are excited about our plans to execute our vision of a safer, more reliable and more efficient future. We are confident that these strategic changes will enable us to focus our efforts where they really count, and we look forward to what is to come. Gearing Up Leadership for Driver Out Commercialization Eric Tapia Interim-Chief Financial Officer Prior experience: ▪ VP Global Controller and Principal Accounting Officer, TuSimple ▪ VP Controller and Chief Accounting Officer, Grainger ▪ Audit Partner, KPMG ▪ MBA from Duke University, CPA Dr. Ersin Yumer Executive Vice President for Operations Prior experience: ▪ VP of Algorithm, and Sr. Director of Machine Learning, TuSimple ▪ Head of Simulation , Machine Learning, Aurora ▪ Sr. Staff Research Scientist / Research Leader, Uber ATG ▪ Machine Learning Tech Lead Manager, Argo AI ▪ Ph.D. Carnegie Mellon University Isabella Zhou Chief Human Resources Officer Prior Experience: ▪ VP of Human Resources, TuSimple ▪ Global HR Director, Auto Parts Business at PPG Industries ▪ Global HR Management experience at INVISTA, Dupont, Koch, Johnson & Johnson and Hewlett-Packard ▪ Diploma in Management from China Europe International Business School Dr. Lei Wang Executive Vice President for Technology Prior experience: ▪ VP of Planning and Control, TuSimple ▪ Executive Director of Prediction and Planning, WeRide ▪ Senior Staff Engineering Manager, Instagram ▪ Ph.D. in Computer Science from Georgia Institute of Technology 3

Our Patent Portfolio Continues to Expand with Valuable Proprietary Technology In Q2, our industry-leading(1) commercial vehicle AV patent portfolio expanded with 37 new patents issued. Our patent portfolio is focused on technology designed specifically for autonomous trucking and included 445 issued patents at the end of Q2. New patents granted this quarter include protections for essential autonomous trucking technologies and several of them address increasing efficiency of autonomous trucking operations which is essential as we progress towards Driver Out commercialization. For example, one recently granted patent covers automatic traversal of routes that lower fuel consumption and reduce costs. Specifically, this patent describes rerouting a vehicle when the fuel consumption of a potential route is not within an acceptable range, thus avoiding routes with costly fuel requirements. Another patent covers the calibration of onboard sensors while an autonomous truck is moving along the road. This patent is designed to allow greater efficiencies and cost reductions as the autonomous vehicle would need not stop to calibrate its sensors but could do so live during a delivery, thus increasing the overall uptime and utilization of an autonomous truck fleet. Lastly, we were also granted a patent that covers sensor cleaning techniques for frozen solids. An autonomous vehicle with dirty sensors may not function properly and may thus be pulled off the road as a safety hazard. This patent is designed to enable autonomous vehicles to stay safely on the road for longer with effective sensor cleaning. We have also continued to create important intellectual property for other technologies, which we aim to protect via trade secrets. Delivering Industry-Leading Proprietary Technology 4 Key Operating Metrics 3/31/2022 6/30/2022 QoQ Growth % R&D FTEs ~1,100 ~1,100 Flat Global FTEs ~1,400 ~1,400 Flat Patents Issued 408 445 ~9% Cumulative Road Miles ~7.2M ~8.1M ~13% TuSimple’s Technology Key Operating Metrics (1) To our knowledge, when compared to trucking focused companies, no other company has more granted patents related to autonomous commercial trucks than TuSimple.

5 Partnering with Global Logistics Leader, Hegelmann Group In July we announced our partnership with Hegelmann Group, a major European transport and logistics provider, that operates a fleet of over 5,000 vehicles, including an initial reservation of purpose-built SAE Level 4 autonomous trucks for operation in North America. The trucks will be equipped with TuSimple’s advanced autonomous driving system and will be based on a world-class global vehicle platform developed by Navistar. Hegelmann’s partnership with TuSimple signals the symbiotic path of both partners to offer innovative solutions that address the ongoing driver shortage while lowering greenhouse gas emissions and improving vehicle and environmental safety. Strengthening Our Relationship with Reservation Partners In Q2, we added 10 reservations with an existing partner, building commercial success on the back of our technology advancements. Our new reservations brings us to a total of 7,485 reservations as of June 30, 2022. We continue to work closely with our reservation partners, identifying and testing autonomy on their lanes best suited for autonomous freight operations. TuSimple’s Commercial Key Operating Metrics Continuing to Grow Our Commercial Footprint 4.6 5.4 6.3 7.2 8.1 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 17% 17% 14% 13% ~1.8x YoY Cumulative Road Miles (Millions) Note: (%) ’s may not foot due to rounding 880 946 1,017 1,014 1,169 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 8% 8% 0% 15% ~1.3x YoY Quarterly Revenue Miles (Thousands) 8,500 9,900 11,200 11,200 11,400 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 16% 13% 0% 2% ~1.3x YoY Cumulative Unique Mapped Miles Unique Mapped Miles expected to be relatively flat In 2022, as our mapping teams focus on collaborative mapping and enhancing our map development and maintenance automation. Q1’22 to Q2’22 revenue miles growth driven by increased utilization of assets through reduced empty miles and increased lane density in our ODD. Key Operating Metrics Q1’22 Q2’22 QoQ Growth % Total Truck Reservations(1) EOQ 7,475 7,485 Flat Total Mapped Miles(2) EOQ ~11,200 ~11,400 2% Quarterly Revenue Miles(3) ~1,014,000 ~1,169,000 15% (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. (2) Unique Mapped Miles are the cumulative unique miles on the AFN on which we have built a map compatible with our autonomous driving software. Unique Mapped Miles expected to be relatively flat In 2022, as our mapping teams focus on collaborative mapping and enhancing our map development and maintenance automation. (3) Q1'22 to Q2'22 revenue mile growth driven by increased utilization of assets through reduced empty miles and increased lane density in our ODD's

6 Strengthening Our Government Affairs Efforts Thomas Jensen Joins to Lead Government Affairs In an effort to bolster our company's federal and state advocacy efforts, Tom Jensen recently joined the company as our Vice President of Government Affairs. Prior to TuSimple, Tom served as UPS's top multimodal transportation advocate for more than 20 years and has extensive experience lobbying at both the federal and state levels. Tom has worked closely with the US Department of Transportation, Congress, state governments and has served in a variety of leadership capacities with major transportation, trucking and logistics advocacy organizations such as the US Chamber of Commerce, the American Trucking Associations and the International Warehouse & Logistics Association. State Regulatory Map Continues to Trend Positively for Autonomous Truck Commercialization From a regulatory perspective, TuSimple continues to help lead industry efforts to establish a state-based legislative and regulatory framework that will provide for a safe and efficient commercial autonomous vehicle goods movement ecosystem. In Q2, Kansas and West Virginia enacted legislation granting L4 trucking authority. At present, 44 states allow Driver In operations while 28 permit Driver Out deployment. We also joined other technology innovators, business leaders, and autonomous vehicle stakeholders in writing to California Governor Gavin Newsom, requesting the state move forward with the establishment of a regulatory scheme for autonomous trucking operations. California remains a critically important state from an economic and supply chain perspective, and while the state first enacted enabling legislation allowing for the establishment of state regulations in 2012, the pace of innovation has far surpassed the establishment of a state regulatory scheme. 28 States Explicitly Allow Driver Out AV Operations | No State or Federal Rule Prohibiting Driver Out AV Regulatory Landscape Allow Driver Out AV Allow Driver In AV In Progress 44 states Allow Driver In AV 28 states Allow Driver Out AV 50 states Cohesive AV operations framework laid out in US DOT 4.0 AV Regulations Partners fom Coast o Coast Seattle Portland San Francisco Los Angeles /Long Beach San Diego Phoenix Tucson El Paso San Antonio Houston New Orleans Tampa Jacksonville Atlanta Greensboro Norfolk Philadelphia Boston Cleveland Cincinnati Nashville Memphis Oklahoma City Kansas City Denver Salt Lake City Minneapolis Chicago Laredo Dallas St. Louis Orlando Charlotte

$43.5 $29.7 $31.9 $32.2 $22.0 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 (32%) 7% 1% (32)% Revenue Growth Driven by Improved Utilization Total revenue was $2.6 million in Q2 2022, up 73% year-over-year and 13% sequentially. Growth was driven by increased utilization of our existing assets and year-over-year price increases. Our focus for the remainder of 2022 is to support our customers’ transportation needs while at the same time focusing our organization towards Driver Out commercialization. R&D Investment Continues, Spending Growth Moderates In Q2, we spent $85.5 million on R&D, up 13% year-over-year. Our largest portion of R&D expense was $60.8 million related to R&D personnel, including stock-based compensation expense of $22.4 million. We are highly focused on spending goals to advance our L4 technology while at the same time doing so in the most efficient manner as possible. Efficiently Supporting Operations Our Q2 Selling, General, and Administrative (SG&A) expense totaled $22.0 million, a $21.5 million year-over-year decrease. Our most significant SG&A expense was $16.2 million in compensation costs, including $2.8 million in stock-based compensation. Stock-based Compensation (SBC) Expense Our SBC expense was $25.2 million in Q2 2022. Loss from Operations and Adjusted EBITDA(1) In Q2, our Loss from Operations was ($110.7) million and our Adjusted EBITDA was ($82.7) million. Capital Investment for Driver Out Operations In Q2, TuSimple invested a total of $3.8 million in purchases of property and equipment and had $1.1 million of purchases of property and equipment included in liabilities at the end of the period. We continue to seek capital-light ways to expand our AFN including preparing for Driver Out operations in Texas. Revenue ($ million) Our Financials: Balancing Investment and Efficiency SG&A Expense ($ million) R&D Expense ($ million) Note: (%) ’s may not foot due to rounding (1) Adjusted EBITDA is calculated by adding back stock-based compensation expense, depreciation, and amortization, nonrecurring restructuring expense, and capital lease interest expense to loss from operations. See the section titled “Non-GAAP Financial Measures” for more information. SG&A Stock-Based Compensation ($ million) $27 $10 $10 $10 $3 $25 $22 $22 $17 $22 R&D Stock-Based Compensation ($ million) $1.5 $1.8 $2.1 $2.3 $2.6 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 20% 10% 13% ~1.7x YoY 15% $75.9 $84.5 $82.4 $78.2 $85.5 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 11% (2%) (5%) 9% 7

Strong Cash Position to Reach Commercialization Our operating cash spending during Q2 was $76 million as we continue to invest in our strategic growth and development initiatives. We ended the quarter with $1.16 billion of cash on the balance sheet. Updated Full Year 2022 Guidance(1) ▪ Revenue: $9 - $11 million, unchanged ▪ Adjusted EBITDA Loss: $360 - $380 million vs previous guidance of $400 - $420 million ▪ Stock-based Compensation Expense: $100 - $120 million vs previous guidance of $155 - $175 million ▪ Purchases of property and equipment: $20 - $30 million vs previous guidance of $30 - $40 million ▪ Ending Cash at 12/31/2022: Approximately $950 million vs previous guidance of approximately $900 million In Closing Having successfully completed Driver Out runs and validated a safe Driver Out framework, we are now in the Driver Out era where we are focused on achieving our next ambitious-but-achievable milestone - Driver Out commercialization. We intend to do so in a capital-efficient manner by focusing on the technology development and operational optimization that will deliver the highest return on investment. We are proud to have a cutting-edge team that has enabled us to be an industry leader and will propel us towards our next milestone. We are incredibly grateful to our world class partners and shareholders that work to make it possible for us to develop our Autonomous Freight Network ecosystem together. Together, we will make freight transportation safer, more affordable, and more efficient. At TuSimple, we are building a Better Path Forward. Sincerely, Our Financials: Balancing Investment and Efficiency (cont’d) 8 Eric Tapia Interim Chief Financial Officer Xiaodi Hou Co-Founder and Chief Executive Officer (1) See the section titled "Non-GAAP Financial Measures" for important information regarding the Non-GAAP measures used by TuSimple.

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, launch dates of products or services, the trajectory of our Driver Out Pilot Program, our timeline to commercialization, expected safety benefits of our autonomous semi-trucks, 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 “will”, “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 development of our technology and products, 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 most recent quarterly report on Form 10-Q. 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 several 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 adjusted EBITDA because the stock-based compensation expense excluded from such items cannot be reasonably calculated or predicated at this time. The effect of the excluded stock-based compensation may be significant. TuSimple believes the non-GAAP measures calculated herein provide meaningful information to assist investors in understanding financial results and assessing prospects for future performance as they provide a better baseline for analyzing the ongoing performance of its business by excluding items that may not be indicative of core operating results. Because non-GAAP financial measures are not standardized, it may not be possible to compare these measures with other companies’ non-GAAP measures having the same or similar names. Thus, TuSimple’s non-GAAP measures should be considered in addition to, not as a substitute 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. About TuSimple TuSimple is a global autonomous driving technology company headquartered in San Diego, California, with operations in Arizona, Texas, Europe, and China. Founded in 2015, TuSimple is developing a commercial-ready, fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4 trillion global truck freight industry through the company's leading AI technology, which makes it possible for trucks to drive safely autonomously, operate nearly continuously, and reduce fuel consumption by 10%+ relative to manually driven trucks. Global achievements include the world's first fully autonomous, 'driver-out' semi-truck run on open public roads, and development of the world's first Autonomous Freight Network (AFN). TuSimple Conference Call Webcast – 2 p.m. PT Aug 2, 2022 We will host a teleconference call at 2:00 PM Pacific time/5:00 PM Eastern time on Aug 2nd to discuss these results. Parties interested in participating via telephone may register on our investor relations website. 9

TuSimple Consolidated Balance Sheets TuSimple Holdings Inc. Condensed Consolidated Balance Sheets (in thousands, except share data) (unaudited) December 31, June 30, 2021 2022 ASSETS Current assets: Cash and cash equivalents $ 1,337,586 $ 1,156,418 Accounts receivable, net 1,599 2,700 Prepaid expenses and other current assets 13,995 22,110 Total current assets 1,353,180 1,181,228 Property and equipment, net 36,053 31,405 Operating lease right-of-use assets — 41,641 Other assets 7,090 4,478 Total assets 1,396,323 1,258,752 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable 4,544 3,733 Amounts due to joint development partners 7,394 5,129 Accrued expenses and other current liabilities 41,698 34,529 Short-term debt 1,524 1,583 Capital lease liabilities, current 766 — Operating lease liabilities, current — 2,905 Total current liabilities 55,926 47,879 Capital lease liabilities, noncurrent 2,872 — Operating lease liabilities, noncurrent — 41,156 Long-term debt 5,543 4,495 Other liabilities 5,004 4,127 Total liabilities 69,345 97,657 Stockholders’ equity (deficit): Preferred stock, $0.0001 par value; 100,000,000 shares authorized as of December 31, 2021 and June 30, 2022; zero shares issued and outstanding as of December 31, 2021 and June 30, 2022 — — Common stock, $0.0001 par value; 4,876,000,000 Class A shares authorized as of December 31, 2021 and June 30, 2022; 197,833,195 and 200,192,530 Class A shares issued and outstanding as of December 31, 2021 and June 30, 2022, respectively; 24,000,000 Class B shares authorized as of December 31, 2021 and June 30, 2022; 24,000,000 Class B shares issued and outstanding as of December 31, 2021 and June 30, 2022 22 22 Additional paid-in-capital 2,464,730 2,520,300 Accumulated other comprehensive income (loss) 77 (1,069) Accumulated deficit (1,137,851) (1,358,158) Total stockholders’ equity (deficit) 1,326,978 1,161,095 Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $ 1,396,323 $ 1,258,752 10

TuSimple Holdings Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited) Three Months Ended June 30, 2021 2022 Revenue $1,482 $2,594 Cost of revenue (2,982) (5,767) Gross loss (1,500) (3,173) Operating expenses: Research and development 75,891 85,519 Selling, general and administrative 43,466 22,017 Total operating expenses (119,357) (107,536) Loss from operations (120,857) (110,709) Gain on loan extinguishment 4,183 — Other income, net 145 2,114 Loss before provision for income taxes (116,529) (108,595) Provision for income taxes — — Net loss (116,529) (108,595) Accretion of redeemable convertible preferred stock — — Net loss attributable to common stockholders $(116,529) $(108,595) Net loss per share attributable to common stockholders, basic and diluted $(0.64) $(0.49) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 182,382,800 223,785,825 TuSimple Consolidated Statements of Operations 11

TuSimple Consolidated Statements of Cash Flows TuSimple Holdings Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Six Months Ended June 30, 2021 2022 Cash flows from operating activities: Net loss $ (501,689) $ (220,498) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 58,798 52,678 Depreciation and amortization 4,409 5,461 Change in fair value of warrants liability 326,900 — Gain on loan extinguishment (4,183) — Other adjustments — 81 Changes in operating assets and liabilities: Accounts receivable (130) (1,203) Prepaid expenses and other current assets (11,995) (6,380) Operating lease right-of-use assets — 2,608 Other assets (752) 2,708 Accounts payable 532 549 Amounts due to joint development partners 5,299 (2,265) Accrued expenses and other current liabilities 5,947 (8,578) Operating lease liabilities — (2,231) Other liabilities 1,449 411 Net cash used in operating activities (115,415) (176,659) Cash flows from investing activities: Purchases of property and equipment (5,928) (5,041) Purchases of intangible assets (179) (132) Proceeds from disposal of property and equipment 100 25 Net cash used in investing activities (6,007) (5,148) Cash flows from financing activities: Proceeds from issuance of redeemable convertible preferred stock, net of offering costs 54,693 — Proceeds from exercise of warrants for redeemable convertible preferred stock 183,007 — Proceeds from issuance of common stock under the Employee Stock Purchase Plan — 1,292 Proceeds from exercised stock options 253 1,558 Proceeds from issuance of common stock upon initial public offering, net of offering costs 1,030,965 — Proceeds from issuance of common stock related to private placement 35,000 — Return of guarantee deposit on related party loan 3,715 — Principal payments on related party loan (4,398) — Payment of third-party costs in connection with initial public offering (2,328) — Principal payments on capital lease obligations (382) — Principal payments on finance lease obligations — (587) Principal payments on loans (237) (747) Net cash provided by financing activities 1,300,288 1,516 Effect of exchange rate changes on cash, cash equivalents, and restricted cash 118 (877) Net increase (decrease) in cash, cash equivalents, and restricted cash 1,178,984 (181,168) Cash, cash equivalents, and restricted cash - beginning of period 312,351 1,339,092 Cash, cash equivalents, and restricted cash - end of period $ 1,491,335 $ 1,157,924 12

TuSimple Consolidated Statements of Cash Flows TuSimple Holdings Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Six Months Ended June 30, 2021 2022 Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: Cash and cash equivalents $1,489,829 $ 1,156,418 Restricted cash included in prepaid expenses and other current assets 1,506 1,506 Total cash and cash equivalents, and restricted cash $1,491,335 $1,157,924 Supplemental disclosure of cash flow information: Cash paid for interest $386 $ 546 Supplemental schedule of non-cash investing and financing activities: Acquisitions of property and equipment included in current liabilities 1,807 1,103 Accretion of redeemable convertible preferred stock 4,135 — Vesting of early exercised stock options 42 42 Exercise of liability-classified warrants 369,352 — Conversion of redeemable convertible preferred stock to common stock upon initial public offering 1,282,916 — Issuance costs incurred in connection with initial public offering included in current liabilities 1,263 — 13

( in millions ) ( unaudited ) Q2’21 Q3 ’21 Q4 ’21 Q1 ’22 Q2 ‘22 Loss from operations to adjusted EBITDA Loss from operations $(120.9) $(115.9) $(115.9) $(112.2) $(110.7) Stock-based compensation expense 52.5 32.1 31.7 27.5 25.2 Depreciation and amortization 2.3 2.4 2.7 2.7 2.7 Nonrecurring restructuring expense - - - 1.7 - Finance lease interest expense 0.1 0.1 0.1 0.1 0.1 Adjusted EBITDA $(66.0) $(81.3) $(81.4) $(80.2) $(82.7) TuSimple Non-GAAP Financial Measure The following table (in millions of dollars) reconciles reported loss from operations determined in accordance with U.S. generally accepted accounting principles (GAAP) to non-GAAP adjusted EBITDA. TuSimple believes that this non-GAAP measure provides meaningful information to assist investors in understanding financial results and assessing prospects for future performance as it provides a useful baseline for analyzing the ongoing performance of its business by excluding items that may not be indicative of core operating results. Because non-GAAP financial measures are not standardized, it may not be possible to compare this measure with other companies’ non-GAAP measures having the same or similar names. 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. Reconciliation Table 14

~1,400 Employees across three continents with ~80% of workforce dedicated to R&D TUSIMPLE BY THE NUMBERS $1.8 B+ Cumulative funding-to- date, from IPO and private capital raises ~ 11,400 400+ ~100 Miles of Mapped Routes Core Technology Patents TuSimple Fleet Trucks Globally 7,485 Purpose-built, L4 Driver Out Autonomous Truck Reservations ~8.1 MM Road Miles ~ $2.6 MM Q2 2022 Revenue (1) As of June 30, 2022 (1) (1) (1) (1)(1) (1) 15



TuSimple Website Privacy Policy



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.


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.


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.


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.