Velodyne Lidar Adjourns Special Meeting of Stockholders to February 10, 2023

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) announced that the Special Meeting of Stockholders ("Special Meeting") scheduled to be held today to approve the proposed merger with Ouster, Inc. (NYSE: OUST) and related matters was convened and adjourned without conducting any business. The Special Meeting will reconvene at 9:00 a.m. PT on February 10, 2023 and will be held virtually at https://www.virtualshareholdermeeting.com/VLDR2023SM.

“Velodyne has adjourned its Special Meeting until next week to continue to solicit additional votes. Velodyne issued a joint press release with Ouster on February 1, which reflects achievement of guidance, Board designees, and strong financial position and cost savings attainable upon closing of the proposed merger,” said Dr. Ted Tewksbury, CEO and member of Velodyne’s Board of Directors. Dr. Tewksbury will serve as Executive Chairman of the combined company upon the successful completion of the proposed merger.

According to Velodyne bylaws, 50% of shareholders must participate to reach the required quorum for the Special Meeting. In addition, more than 50% of outstanding shares must be voted in favor of the merger to pass the proposal and Velodyne adjourned the meeting to allow for additional time to solicit votes in favor of the proposal. All stockholders of record as of the close of business on December 5, 2022 are entitled to vote and attend the Special Meeting.

The proxy card included with the previously distributed proxy materials will not be updated to reflect the adjournment and may continue to be used to vote shares in connection with the Special Meeting. Stockholders who have not submitted their proxy for the Special Meeting, or who wish to change or revoke their proxy, are urged to do so promptly. Stockholders who have previously submitted their proxy and do not wish to change or revoke their proxy need not take any action. If you are a stockholder of record and have questions or need assistance voting your shares, please contact the Company's proxy solicitor Kingsdale Advisors by calling toll-free at 877-659-1821 or via email at [e-mail].

Velodyne Lidar urges stockholders to please vote “FOR” the Company’s proposed merger with Ouster, Inc. Velodyne’s Board of Directors unanimously supports the merger. Further information on the proposed merger can be found in the Company’s definitive proxy statement (click here), which highlights the following benefits: