Velodyne to Attend the 9th Annual Needham Virtual Industrial Technologies 1x1 Conference

Graf Industrial Corp. ("GRAF") (NYSE: GRAF, GRAF.U, GRAF WS), a special purpose acquisition company, announced today that Velodyne Lidar, Inc. ("Velodyne" or the "Company"), with which GRAF has signed a definitive Business Combination Agreement, will attend the 9^th Annual Needham Virtual Industrial Technologies 1x1 Conference on Thursday, August 6, 2020. Attending from Velodyne are CEO Anand Gopalan and CFO Drew Hamer, along with James Graf, Founder and CEO of GRAF. If you would like to schedule a meeting, please send a request to [email protected]. The presentation for such meetings is available and posted on the Velodyne website at https://velodynelidar.com/wp-content/uploads/2020/07/GRAF-Velodyne-Investor-Presentation.pdf.

The annual Needham Industrial Technologies 1x1 Conference features access to leading companies across key segments of the industrial and electronics supply chains. The companies represent a wide range of markets, including laser and photonics, industrial printing, 3D metrology/scanning and imaging, and industrial automation and robotics technologies.

About Graf Industrial Corp.

Graf Industrial Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. GRAF began trading on the NYSE in October 2018 and its common stock, units and warrants trade under the ticker symbols GRAF, GRAF.U and GRAF WS, respectively. GRAF's website is www.grafacq.com.

About Velodyne Lidar

Velodyne provides smart, powerful lidar solutions for autonomy and driver assistance. Headquartered in San Jose, Calif., Velodyne is known worldwide for its portfolio of breakthrough lidar sensor technologies. Velodyne's founder, David Hall, invented real-time surround view lidar systems in 2005 as part of Velodyne Acoustics. Mr. Hall's invention revolutionized perception and autonomy for automotive, new mobility, mapping, robotics, and security. Velodyne's high-performance product line includes a broad range of sensing solutions, including the cost-effective Pucktm, the versatile Ultra Pucktm, the autonomy-advancing Alpha Primetm, the ADAS-optimized Velarraytm, and the groundbreaking software for driver assistance, Vellatm.

Forward Looking Statements

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside GRAF's or Velodyne's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to complete the proposed business combination or the Extension; the inability to recognize the anticipated benefits of the proposed business combination; the inability to meet the NYSE's listing standards; costs related to the business combination; Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; the timing of revenues from existing customers, including uncertainties related to the ability of Velodyne's customers to commercialize their products and the ultimate market acceptance of these products; the uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; uncertainties related to Velodyne's estimates of the size of the markets for its products; the rate and degree of market acceptance of Velodyne's products; the success of other competing lidar and sensor-related products and services that exist or may become available; Velodyne's ability to identify and integrate acquisitions; rising costs adversely affecting Velodyne's profitability; uncertainties related to Velodyne's current litigation and potential litigation involving GRAF or Velodyne or the validity or enforceability of Velodyne's intellectual property; and general economic and market conditions impacting demand for Velodyne's products and services. Other factors include the possibility that the proposed business combination does not close, including due to the failure to receive required security holder approvals, or the failure of other closing conditions. Neither GRAF nor Velodyne undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Disclaimer

This release shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.