116 Lower Prices Are Stimulating Demand For Industrial Robots Industrial robot costs have been dropping 50% for every cumulative doubling in production. Industrial Robots: Price Elasticity Of Demand 1996-2002 2002-2010 2010-2015 2016-2018 2009, 2019 and 2020 2021 2022 600,000 2022 500,000 2021 S 400,000 2018 IC s 2017 T e 2020 O al S B 2019 RO nit 300,000 2016 U 2015 200,000 2014 2011 2013 2007 2012 100,000 2010 2006 2008 2005 1996 1997 1999 2000 2001 2003 2004 - 1998 2002 2009 $120 $100 $80 $60 $40 $20 $0 e Unit Price Thousands Sources: ARK Investment Management LLC, 2024, based on data from The International Federation of Robotics 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.