Exhibit 99.2

Jun e 2 0 2 1 INVESTOR PR ESEN T A T ION Exhibit 99.2

D I S CL A I M E R S This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Innovid, Inc. (the “Company” or “Innovid”) and ION Acquisition Corp 2 Ltd. (“ION”) and related transactions (collectively, the “Proposed Transactions”) and for no other purpose. This presentation is for information purposes only and is being provided to you solely in your capacity as a potential investor in considering an investment in Innovid. Any reproduction or distribution of this presentation, in whole or in part, or the disclosure of its contents, without the prior consent of Innovid is prohibited. By accepting this presentation, each recipient and its directors, partners, officers, employees, attorney(s), agents and representatives agrees: (i) to maintain the confidentiality of all information that is contained in this presentation and not already in the public domain; and (ii) to return or destroy all copies of this presentation or portions thereof in its possession following the request for the return or destruction of such copies. Fo rwa r d - Lo o k i n g S t a t e m e n t s This presentation includes “forward - looking statements” within the meaning of the federal securities laws, opinions and projections prepared by the Company’s and ION’s management. These forward - looking statements generally are identified by the words “expects,” “will,” “projected,” “continue,” “ increase,” and/or similar expressions that concern the Company’s or ION’s strategy, plans or intentions, but the absence of these words does not mean that a statement is not forward - looking. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. Because forward - looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s or ION’s control. Actual results and condition (financial or otherwise) may differ materially from those indicated in the forward - looking statements. These forward - looking statements are subject to a number of risks and uncertainties that could cause actual results and conditions to differ materially from those indicated in the forward - looking statements, including, but not limited to, the various summary risk factors related to the Proposed Transactions that have been provided to you separately. The list of factors provided separately is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of ION’s final prospectus related to its initial public offering, the Proxy Statement/Registration Statement (as defined below) and other documents filed by ION from time to time with the Securities and Exchange Commission (“SEC”). There may be additional risks that the Company and ION do not presently know or that they currently believe are immaterial that could also cause actual results to differ from those contained in the forward - looking statements. In addition, forward - looking statements reflect the Company’s and ION’s expectations, plans or forecasts of future events and views as of the date of this presentation. Accordingly, you should not place undue reliance upon any such forward - looking statements in this presentation. Neither the Company, ION nor any of their affiliates have any obligation to update this presentation. Ad d i t i on a l I n f o r m a t i o n a n d W h e r e t o F i n d i t In connection with the Proposed Transactions, ION is expected to file with the SEC a registration statement on Form S - 4 containing a preliminary proxy statement/prospectus relating to the Proposed Transactions (the “Proxy Statement/Registration Statement”), and after the registration statement is declared effective, will mail the proxy statement included therein to holders of ION’s ordinary shares in connection with ION’s solicitation of proxies for the vote by the ION shareholders with respect to the Proposed Transactions and other matters as described in the Proxy Statement/Registration Statement. ION urges its shareholders and other interested persons to read, when available, the Proxy Statement/Registration Statement and amendments thereto and documents incorporated by reference therein, as well as other documents filed with the SEC in connection with the transactions, as these materials will contain important information about ION, the Company and the Proposed Transactions. When available, the definitive proxy statement included in the Proxy Statement/Registration Statement will be mailed to ION’s shareholders. Shareholders of ION will also be able to obtain copies of such documents, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: ION Acquisition Corp 2 Ltd., 89 Medinat Hayehudim Street, Herzliya 4676672, Israel. N o R e pr e s e n t a t i o n s a n d W a rr a n t i e s This presentation is for informational purposes only and does not purport to contain all of the information that may be required to evaluate a possible investment decision with respect to Innovid. The recipient agrees and acknowledges that this presentation is not intended to form the basis of any investment decision by the recipient and does not constitute investment, tax or legal advice. No representation or warranty, express or implied, is or will be given by Innovid or any of its affiliates, directors, officers, employees or advisers or any other person as to the accuracy or completeness of the information in this presentation or any other written, oral or other communications transmitted or otherwise made available to any party in the course of its evaluation of the Proposed Transactions and no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for any errors, omissions or misstatements, negligent or otherwise, relating thereto. The recipient also acknowledges and agrees that the information contained in this presentation is preliminary in nature and is subject to change, and any such changes may be material. Innovid disclaims any duty to update the information contained in this presentation. Par t i c ip a n t s i n S o li c i t a t i o n ION and its directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of ION’s shareholders in connection with the Proposed Transactions. Shareholders of ION may obtain more detailed information regarding the names, affiliations and interests of ION’s directors and executive officers in ION’s final prospectus for its initial public offering filed with the SEC on April 13, 2021 and in the Proxy Statement/Registration Statement when available. Information concerning the interests of ION’s participants in the solicitation, which may, in some cases, be different than those of ION’s shareholders generally, will be set forth in the Proxy Statement/Registration Statement when it becomes available. 2 |

D I S CL A I M E R S ( c on t ’d ) S t a t e m e n t R e g a r d i n g N o n - G A A P F i n a n c i a l Me a s u r e s The financial information and data contained this presentation is unaudited and does not conform to Regulation S - X promulgated by the SEC. Accordingly, such information and data may not be included in, may be adjusted in, or may be presented differently in, any proxy statement, prospectus or other report or document to be filed or furnished by ION, the Company or any entity that is party to the Proposed Transactions with the SEC. Certain financial measures in this presentation are not calculated pursuant to U.S. generally accepted accounting principles (“GAAP”). These non GAAP financial measures are in addition to, and not as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non - GAAP financial measures as compared to their nearest GAAP equivalents. For example, other companies may calculate non - GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the non - GAAP financial measures herein as tools for comparison. You should review the Company’s audited financial statements, which will be presented in the Proxy Statement/Registration Statement to be filed with the SEC in connection with the Proposed Transactions, and not rely on any single financial measure to evaluate the Company’s business. U s e o f P r o j e c t i o n s This presentation also contains certain financial forecasts, including projected annual revenue, gross profit and Adjusted EBITDA. Innovid's independent auditors have not studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, no independent auditor has expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. These projections are for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. In this presentation, certain of the above - mentioned projected information has been provided for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Projections are inherently uncertain due to a number of factors outside of Innovid's control. While all financial projections, estimates and targets are necessarily speculative, Innovid believes that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. Accordingly, there can be no assurance that the prospective results are indicative of future performance or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. U na u d i t e d Es t i m a t e d R e s u l t s The Company’s preliminary unaudited estimated results contained in this presentation have been prepared in good faith by, and are the responsibility of, management based upon the Company’s internal reporting, and an independent auditing firm has not audited, reviewed, compiled or performed any procedures with respect to the preliminary financial results. Such results are subject to business, economic, regulatory and competitive uncertainties and contingencies and actual results may vary and those variations may be material. As such, Innovid's actual results and financial condition as reflected in the financial statements that will be included in the registration statement on Form S - 4 for the Proposed Transactions may be adjusted or presented differently from the historical financial information herein, and the variations could be material. No Offer or Solicitation; Private Placement This presentation is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of ION or the Company nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The securities to which this presentation relates have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction. This presentation relates to securities that Innovid would intend to offer in reliance on exemptions from the registration requirements of the Securities Act and other applicable laws. These exemptions apply to offers and sales of securities that do not involve a public offering. The securities have not been approved or recommended by any federal, state or foreign securities authorities, nor have any of these authorities passed upon the merits of this offering or determined that this presentation is accurate or complete. Any representation to the contrary is a criminal offense. Trademarks This presentation contains trademarks, service marks, trade names, and copyrights of the Company, ION and other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this presentation may be listed without the TM, SM © or ® symbols, but the Company and ION will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights. 3 |

PR E S E N T E R S A N D S E N I O R L E A D E R S H I P Se r i a l en t r e p r ene u r w i t h o v er 28 y e a r s o f e x p e r i e n c e l a u n c h i n g , m a n a g i n g a n d g r o wi ng t e c hn ol o gy c o m p a ni e s Pr i o r t o c o - f o u n d in g I nn o v i d , f o u n d e d a n d s e r v e d a s C E O f o r s e v e r a l t e c hn o l o g y c o m p a ni e s ZVIKA NETTER C E O & CO - F O U N D E R L e a d s f in a n c e , a cc o u n t in g , l e g a l a n d HR f u n c t i o n s a t Innovid Pr i o r t o I nn o v i d , s p e n t e i g h t y e a r s i n f in a n c e r o l e s a t s e v e r a l t e c hn o l o g y c o m p a ni e s a n d f o ur y e a r s a t PwC TANYA ANDREEV - KASPIN CFO C E O o f I O N A c q u is i t i o n C o r p . 1 a n d 2 , Co - C E O o f I O N Ac q u i si ti o n C o r p . 3 , M a n a g in g P a r t n e r o f I O N C r o ss o v e r P a r t n e r s ( I C P) Pr i o r t o c o - f o u n d in g I C P , 1 0 years of experience investing in pu b li c a n d pr i va t e c om pa ni e s w i t h B a r o n C a p i t a l ( N Y ) a nd M a g m a V e n tu r e P a r t n e r s ( TL V ) GI L A D S H A N Y CEO Pr e s i d e n t a n d C O O o f I O N Ac q u i si ti o n C o r p . 1 a n d 2 , C o - C E O and President of ION Acquisition C o r p . 3 CO O o f g r o w t h t e c h c o m p a n i e s Si m il a r W e b & See k i n g A l p ha 8 y e a r s p u b li c & p r i va t e i n v e s t m e n t s , i n c l u d i n g e q u it i es analyst with UBS & venture capital a t J e r u s a l e m G l ob a l V e n t u r e s AVR O M G I L BE R T COO 4 |

AG E N D A Introduction Overview Ab o u t I nn o v i d Go - t o - Mar k e t S t ra t e gy I n v e s t m e n t H i g h li g h t s F i n a n c i a l I nf o r m a t i on G r ow t h St r a t e g y Val u ati o n & Co m p a r a b l e s

INTRODUCTION

I O N – G L O B A L R EA C H , L O N G - T E R M V A L U E Q3 18 I O N C R O SS O V E R P A R T N E R S 2 0 15 S O V E R E I G N W E A L TH F U N D Q4 1 8 I O N T E C H F U N D 2 00 6 I O N I S R A E L F U N D Total AUM: >$2bn Q4 20 I O N A C Q U I S I T I O N C O R P ( S P A C) I A C A ( B C A ) I A C B ( P u b li c ) I A C C (P u blic ) 7 |

I O N I N V E S TM E N T T H E S I S – M A R K E T L E A D I N G EXPOSURE TO CONNECTED TV GROWTH 1 TV ADVERTISING IS A $200B MARKET SHIFTING FROM LINEAR TV TO CTV As “cord cutting” audiences move to CTV, and OTT publishers grow, brand advertising dollars follow 2 MARKET - LEADING INDEPENDENT CTV ADVERTISING PLATFORM Used by >40% of major global advertisers to manage ad campaigns in a fragmented CTV market 3 VISIONARY, FOUNDER - LED, FIRST - TO - MARKET PLAYER WITH DEEP MOAT Proprietary tech to future - proof for CTV roadmap + Unmatched Partner Network (TTD, MGNI, Peacock, Roku, Hulu, etc.) 4 DIFFERENTIATED SOFTWARE COMPANY TO RIDE THE EXPLOSIVE GROWTH OF CTV 80%+ gross margins, 37% Revenue Growth, 94% logo retention + upside from advanced capabilities Source: Dentsu, eMarketer, Kantar (https:// www.kantar.com/), Winmo (https:// www.winmo.com/) Note: $200bn estimate includes 2021 traditional TV ad spend of $169bn and assumes 2021 global CTV ad spend is ~2x US ad spend of $13bn 8 |

OVERVIEW

Source: Dentsu, eMarketer Note: $200bn estimate includes 2021 traditional TV ad spend of $169bn and assumes 2021 global CTV ad spend is ~2x US ad spend of $13bn C T V $1 5 - 20 BILLION $200 BILLION LIN E A R TV THE TV E C O S Y S T E M IS SHIFTING $200 BILLION o f T V a d s pe n d i n g $15 - $20 BILLION o f e s tima te d a d s pe n d i n g on CT V to d a y 10 |

Centralized Creative A d - D e li v e r y Personalization and I n t er a c t i v i t y Advanced Mea s ure m ent 11 | C T V C R E A T E S O PP O R T U N I T I E S AND CHALLENGES

Leading Independent Ad Delivery and Measurement Platform for Connected TV Empowering advertisers to shift investment f r o m li n e a r t o c o nn e c t e d T V

ABOUT INNOVID

P E O PL E - F I R S T: A N A W A R D - W I NN I N G C U L TU R E 14 | INNOVID’S Company Values Ou r s h a r e d v a l u e s un i t e o u r t e a m a n d d r i v e our award - winning company culture Be GENEROUS ~365 Employees N Y C H e a d q u a r t e r s 1 5 O ff i c e s W o r l d w i d e 4.8 99% s t a r r a t i n g CE O a ppr o v a l Be D A R I N G Be UN B E A T A B LE HQ S E L E C T I N V E S T O R S

IN N O V ID = “ IN N O V A T IO N + V ID E O ” F o c u s o n C T V h a s l e d t o a gr o wi n g li s t o f i n d u s t r y f ir s t s a n d k e y m il e s t o n e s : 1 s t M R C c e r t i f i c a t i on fo r C T V m e a s u r e m e n t 1 s t in t e r a c t iv e S u p e r B o w l a d 1 s t C T V a d v e r t i s i n g S D K t o m a r k et E x c l u s iv e R o ku A C R i n t e g r a t i on Na m e d a l e ad e r b y F o rr e s t e r 1 s t a d s e r v i n g i n to Peacock F O C U S E D O N C TV B E F O R E T H E R E W A S C TV 15 | IN V E N T I O N I S IN G R A IN E D I N INN O V ID ’ S DNA x Inse r t i nt e ra c t i v e o b j e c t s i n t o vi d e o c o n t e n t x Video - associated objects x Se r v i n g o b jec t s to be i n s e r t e d to v i de os and t r a c k i ng u s age statistics x Real - time monitoring of s e n t i m e n t w i t h r e s p e c t o f a d e s i r e d p h r as e x An a l y z i n g s e n t i m e n t bas e d o n t e r m ta x o n o m i e s o f U G C 20 0 8 - 1 s t PA T E N T

Media Ec o s y s t e m Measurement Delivery CT V Innovid’s CTV advertiser software platform: x A u t o m a t i c a lly u p l o a ds a n d e n c o de s a d v e r t i s i n g c r e a t i v e t o s t r e a m a ds t o a n y s c r ee n o r de v i c e x M a n a ge s t h e p h y s i c a l de li v e r y o f a ds – c o nn e c t i n g m a r k e t e r s a n d p u bli s h e r s in r e a l - t i m e x Independently measures performance across the w id e s t br e a d t h o f M R C a cc r e di t e d m e t r i c s DELIVERING AND MEASURING ADS A C R O SS A L L M A J O R T V M E D I U M S CT V A d D e li ve r y & M e a s u r e m e n t 16 |

Pu bli s h e r A pp s St r e a m C o n te n t Demand Side Platform (DSP) P r o g r a mm a t i c M e di a B u y i n g Supply Side Platforms (SSP) P r o g r a mm a t i c M e di a S e lli n g Connected TV Devices Con n e c t i n g t h e T V t o t h e I n t e r n e t F r a g m e n t a t i on c o m p li c a t e s a d v e r t i s i n g - w e w o r k w i t h , n o t a ga i n s t , t h e l e a di n g p l a y e r s in t h e t e c hn o l o gy s t a c k PARTNERING ACROSS THE ADTECH ECOSYSTEM INNO V ID INT E G R A T E S AC R O SS A D T E C H : 17 | Measurement Delivery CT V CT V A d D e li ve r y & M e a s u r e m e n t P L A T F O R M S S UPPO R T E D I N C L U D E :

ST R A T E G I C , E X C L U SI V E P A R T N E R S H I PS TO ADVANCE CTV ADVERTISING Leading in CTV innovation as acknowledged by industry - f ir s t a n d e x c l u s i v e r e l a t i o n s h i p s w i t h l e a di n g p r o v id e r s 18 |

GO - TO - MARKET

Source: Kantar (https:// www.kantar.com/), Winmo (https:// www.winmo.com/) OUR GO - TO - MARKET STRATEGY Se lli n g t o b r a n d s , u s e d b y a g e n c ie s Pr i m a r y C T V t e c hn o l o g y pla t f o r m u s e d b y ou r clie n ts Tec hn o l o g y f ee s b a s ed on a d s d e l i v e r ed , n o t m ed i a spend 20 |

21 | Source: Kantar (https:// www.kantar.com/), Winmo (https:// www.winmo.com/) F O C U S I N G O N T H E N EE D S O F T H E L A R G E S T TV A D V E R T I S E R S H I G H C O N C E N T R A T I O N A T TH E TO P: t o p U . S . T V ADVERTISERS ~ 7 5% o f to t a l U . S . T V A D S PE N D 2 0 0 represent DISTRIBUTION OF TV AD SPEND BY TOP 200 US TV ADVERTISERS

DISTRIBUTION OF TV AD SPEND BY TOP 200 US TV ADVERTISERS INNOVID IS THE TRUSTED D E L I V E R Y PL A T F O R M I NN O V I D is a lr e a dy a t r u s t e d a d de li v e r y p l a t f o r m ~ 40% of t h e t op 2 00 U . S . TV a d v e rt i s e rs ESTABLISHED FOOTPRINT: 22 | Source: Kantar (https:// www.kantar.com/), Winmo (https:// www.winmo.com/)

80 - 85% Gro s s M a r g i ns 120%+ 2 0 20 A nnu a l N e t Re v e nu e Re t e n t io n 37% Pr o j e c t e d Re v e nu e CAG R ( 2 0 2 0 – 2 0 2 3 ) DIFFERENTIATED OFFERING IS W H Y WE W I N W I TH TV A D V E R T I S E R S + On l y a d - se r v e r b u il t t o C T V Tru e p l a t f o r m off e r i ng ( A d S e r vi n g , C r e a t i v e T oo l s , a n d M e a s u r e m e n t ) Pr o p r i e t a r y S D K i n t e g r a t i o n s Pr o p r i e t a r y p a rt n e r s h i p s Independent No t a m e d i a b u s i n e s s S o u r c e o f tr u t h Z e r o c o n f li c t s wi t h e n t i r e e c o s y s t e m A Highly Defensible and Expanding Moat Net Revenue Retention: Net Revenue Retention (NRR) Rate is calculated as percentage of revenue retained from existing core platform customers, including expansion revenue, downgrades, and churn. Note: Retention is calculated for core platform clients; core clients represented ~89% of total 2020 revenue Differentiated CTV Technology Unique Market Position 23 |

(impressions in billions) Impression Volume by Device - 2 4 6 8 10 12 CT V I m p r e ss i on V o l u m e G ro w t h ’1 7 – ’ 2 0 CAGR 61% CTV 8% Mo bil e T V + D e s k t o p T V - 50 1 0 0 15 0 2 0 0 25 0 2 0 1 7 2 0 20 2 0 1 8 D e s k t o p T V 2019 M o b il e T V C T V (impressions in billions) CTV IS DRIVING THE GROWTH IN OUR BUSINESS 24 | Source: Company data An immaterial volume (less than 5%) of impressions which are not automatically classified by device were omitted from the historical 2018 - 2020 data in the impression chart. Revenue from these impressions is included in the company revenue by device on a prorated basis.

CTV: 67% 60% 77% 58% 53% O t he r T V (Mobile/Desktop): 13% 10% 26% 15% 14% 65% CTV 16% Mo bil e T V + D e s k t o p TV ’1 8 A – ’ 2 3 E CAGR Impression Volume by Device Illustrative Global Market Potential (impressions in billions) TV ( L i n e a r + CT V ) 1 $200B 2023 $8 B 2 2020 $2B 3 148 186 234 341 462 626 2 0 18 A Y oY G ro w t h : 2 0 19 A 2 0 20 A 2 0 21 E 2 0 22 E 2 0 23 E CT V Mobile TV Desktop TV CTV DRIVES OUR IMPRESSION VOLUME ACCELERATION 25 | N o t e : G r ap h i c i s not to scale. Source: Company data, Dentsu, eMarketer, Kantar (https:// www.kantar.com/), Winmo (https:// www.winmo.com/) An immaterial volume (less than 5%) of impressions which are not automatically classified by device were omitted from the historical 2018 - 2020 data in the impression chart. Revenue from these impressions is included in the company revenue by device on a prorated basis. Note: Illustrative market size based on current global TV advertising spend of $200 billion and Company data assuming constant $20 media CPM 1. $200bn estimate includes 2021 traditional TV ad spend of $169bn and assumes 2021 global CTV ad spend is ~2x US ad spend of $13bn 2. Projected 2023 CTV advertising spend for Innovid customers assuming constant $20 media CPM 3. Estimated 2020 CTV advertising spend for Innovid customers assuming constant $20 media CPM

$ 0 . 0 0 $ 0 . 2 5 $ 0 . 5 0 $ 0 . 7 5 $ 1 . 0 0 J a n - 1 8 J u l - 1 8 J a n - 1 9 J u l - 1 9 Jan - 20 J u l - 2 0 J a n - 2 1 Av e r a g e C o s t p e r T h o u s a n d $0 . 3 1 $0 . 3 0 To t al I m p r e ss i o n V o l u m e Price Increases f r o m C ro s s - Se ll a n d Up - Sell T e c h U s a g e F ee s , Not Media Spend “ A l w a y s O n ” E v e r y Impression Impression Volume Has Grown ~2x While Pricing Has Been Stable ~ 2 x Source: Company data STRONG PRICING WITH UPSIDE POTENTIAL 26 |

Annu a l R e v e nu e Y oY G ro w th : 2018A 2019A 2020A 2021E 2022E 2023E CTV: 57% 65% 59% 67% 60% 53% Other TV (Mobile/Desktop): 3% 4% 5% 19% 16% 14% T o ta l G r ow t h : 11% 17% 21% 38% 37% 36% ($ in millions) 61% CTV 11% Mo bil e T V + D e s k t o p T V ’1 8 A – ’ 2 3 E CAGR 31 % 23 % 18 % 14 % 10 % 8% 48 % 47 % 43 % 38 % 33 % 29 % 21 % 30 % 40 % 48 % 56 % 63 % $48 $56 $69 $95 $130 $177 CTV Mobile TV Desktop TV CTV DRIVES OUR PROJECTED REVENUE ACCELERATION 27 |

CTV Measurement La u n c h e d 2 0 2 0 CTV Personalization P e r s o n a li z e d a d s Interactive capabilities / experience M o s t a d va n c e d C T V S D K Innovid’s SDK powers Trade Desk, Magnite, Ro k u a n d H ulu Leader in The Forrester Wave: Creative Advertising Te c hn o l o g y, 2 0 20 CTV A d D e li v e r y Un i v e r s a l “ S o u r c e o f tr u t h ” Un b i a s e d i n s i g h t a n d d a t a TV - first, cookieless and compliant identity solution Uniquely positioned to win as the ad server Driving industry - wide standardization PLATFORM EXTENSIONS DRIVE FUTURE REVENUE 28 |

FINANCIAL INFORMATION

H i g h l y pr e di c t a bl e a nd v i s ibl e r e - occ u rr i n g re ve nu e : ► Existing clients generate ~90% of revenue each year 1 ► Strong net dollar retention over the last 3 - years, exceeding 120% in 2020 ► Low customer churn with 94% core customer retention in 2020 ► Strong and stable pricing with path to higher margins with further adoption of h i g h l y d i ff e r e n t i a t e d p r o d u c t s Significant operating leverage , with low incremental costs as client impression volumes grow ~$130M 20 22 E R e v e nu e ~37% 2022E R e v e nu e G r o w t h ~81% 2022E Gro s s M a r g i n s ~$ 1 6 M 2022E A d j . E B I T D A 1. Revenue from existing clients was 88%, 89%, and 88% in 2018, 2019, and 2020 respectively K E Y F I N A N C I A L H I G H L I G H TS 30 |

77 85 95 2 0 1 8 2 0 1 9 2 0 20 Core Client Retention # of Core Clients Net Revenue Retention 84% 88% 94% 2 0 1 8 2 0 1 9 2 0 20 110% 114% 121% 2 0 1 8 2 0 1 9 2 0 20 % o f T o ta l R e v enue 8 4 % 85 % 89% Net Revenue Retention (NRR) Rate is calculated as percentage of revenue retained from existing core platform customers, including expansion revenue, downgrades, and churn. Note: Logo retention and NRR are calculated for core platform clients only S TR O N G A N D I N C R E A S I N G C O R E C U S TO M E R 31 |

$11 $14 $18 $14 $13 $22 $14 $19 $24 $17 $23 $30 Q1 - 19 Q1 - 20 Q1 - 21 Q2 - 19 Q2 - 20 Q2 - 21E Q3 - 19 Q3 - 20 Q3 - 21E Q4 - 19 Q4 - 20 Q4 - 21E Quarterly Revenue Note: Quarterly revenue based on actual results up to and including Q1 - 21; Q2 - 21, Q3 - 21, and Q4 - 21 based on management projections 19% (6%) 67% 17% 30% 30% YoY G r o w t h 17 % 16% 36% 30% 33% 2 4 % COV I D Impact ($ in millions) Q1 Q2 Q3 Q4 R A P I D R E V E N U E A CC E L E R A T I O N 32 |

($ in millions) 1. Internal management results prior to PCAOB audit completion 2. No quantitative reconciliation of EBITDA to the most directly comparable GAAP financial measure has been provided for projections because management cannot reliably predict all of the necessary components of the GAAP financial measure without unreasonable effort 3. Adjusted EBITDA includes add - back of stock - based compensation from 2018 – 2020; stock - based compensation not projected for 2021 – 2023 1 Historicals Audited Unaudited Projected Long - Term 2018A 2019A 2020A 2021E 2022E 2023E Margins Revenue $48.4 $56.5 $68.8 $94.8 $130.1 $177.3 % Growth 11.0% 16.7% 21.8% 37.8% 37.2% 36.3% Cost of Revenue ($9.4) ($10.6) ($12.7) ($18.0) ($24.7) ($33.7) Gross Profit $39.0 $45.9 $56.1 $76.8 $105.4 $143.6 % Margin 80.5% 81.3% 81.6% 81.0% 81.0% 81.0% 82% - 85% R&D ($12.2) ($14.5) ($17.4) ($23.0) ($27.3) ($32.8) 14% S&M (19.4) (29.0) (28.2) (35.8) (46.9) (56.7) 26% G&A (5.9) (7.6) (7.9) (10.8) (15.6) (19.5) 8% Total OpEx ($37.6) ($51.1) ($53.6) ($69.6) ($89.8) ($109.1) 48% Adjusted EBITDA 3 $1.4 ($5.2) $2.6 $7.2 $15.6 $34.6 % Margin 2.9% - 9.2% 3.8% 7.6% 12.0% 19.5% ~35% 2 Projections P& L S U MM A R Y 33 |

G R O W T H S T R A T E G Y

B e n e f i t f r o m volume growth of exi s t i n g c u s t o m e r s Upsell additional p ro d ucts & s olutio n s (A c q u i s i t i o n s & Home - Grown) W i n n e w l o g o s G l o b a l exp a n s i o n M U L T I PL E L E V E R S TO D R I V E H I G H G R O WTH F O R F O R E S EE A B L E F U TU R E 35 |

B e n e f i t i n g f r om t h e e xp l o s i v e g ro w t h o f s t rea m i n g c o n t en t dri v i n g “cord - cutting”, “cord shavers” and “cord - nevers” $200 billion of TV ad spend is moving from linear to CTV to reach digital audiences and requires digital infrastructure Innovid is a leading independent platform for CTV ad delivery and mea s u r eme n t i n f r a s t r u c t u r e Exclusive technology relationships with clients creates strong customer retention Predictable business model with consistent cohort performance as clie n t im p r e ssi o n v o l u m e s sc a le Strong revenue growth with high software gross margins while i n cr e a s i n g p r o f it a b ilit y INVESTMENT HIGHLIGHTS 1 2 3 4 5 6

V A L U A T I O N & C O M PA R A B L E S

x x x x x x x x x x Infrastructure Software Platforms High Growth Ad Tech Platforms B u s i n e s s Model M a r k e t / Sector DEFINING THE PUBLIC COMPABLE UNIVERSE FOR INNOVID Innovid is an Infrastructure Software Platform, collaborating with High Growth Ad Tech Platforms 38 |

37. 8% 28. 8% 2 3 .6% 54. 9% 36. 1% 2 4 .2% 29. 7% 3 1 .5% 51. 1% 4 4 .1% I n n o v i d Doubl eV e r if y Ma g nit e Rok u T r a d e Des k Via n t BigC o m merc e Fastly S h o p if y T w i l i o Median: 30.1% Median: 37.8% 3 7 .2% 31. 6 % 2 3 .7% 40. 2 % 28. 3 % 21. 7 % 22. 5 % 2 5 .9% 32. 4 % 3 1 .9% I nnovid Dou b le V e r if y M ag n it e Rok u T r ade Desk V iant B igCo m m erce Fastly S h op if y Tw i li o Median: 26.0% Median: 28.9% 39 | Source: Management projections, FactSet (as of 6/16/21) 2021E R EVE N UE G RO W T H 2022E R EVE N UE G RO W T H O P E R A T I O N A L B E N C H M A R K I N G

0. 2 x 0. 4 x 0. 4 x 0. 3 x 0 . 7x 0. 5 x 0. 8 x 0 . 6x 0 . 9x 0. 5 x I n novid Dou b le V e r if y M ag n it e Rok u T r ade D esk V ian t B igC o m m erce Fastly S h op if y T w i li o Median: 0.4x Median: 0.7x 8. 5 x 13. 8 x 9. 2 x 12. 0 x 19. 6 x 10. 8 x 1 8 .5x 14. 3 x 2 7 .9x 17. 3 x I n n o v i d Doubl eV e r if y M a g n it e Rok u T r a d e Des k Via n t BigC o m m erc e Fastly S h o p if y T w i l i o M edian: 11.4 x Median: 17.9x Source: Management projections, FactSet (as of 6/16/21) 1. TEV / 2022 Revenue divided by 2022E YoY Revenue Growth TEV / 2022E REVENUE 2022E G RO W T H A DJ . REVENUE MULTIPLE 1 VALUATION BENCHMARKING 40 |

Pro forma anticipated enterprise value of $1.1 billion $403 million total anticipated cash proceeds consisting of: ► $253 million from ION Acquisition Corp. 2 Ltd. ► $150 million in target PIPE proceeds expected to be raised at $10.00 / share, including sponsor participation of up to $50 million at the Company’s discretion Existing Innovid shareholders expected to retain ~64% of the pro forma company Use of proceeds anticipated to include ~$200 million of cash to balance sheet , which is anticipated to be used to pursue organic growth strategies and inorganic growth through opportunistic acquisitions, with balance of funds raised as secondary proceeds to existing Innovid shareholders Completion of transaction is expected by Q4 2021 TRANSACTION SUMMARY + 41 |

THANK YOU. Investors@Innovid.com Leading Independent Ad Delivery and Measurement Platform for Connected TV

A PP E N DI X

An t i c i p a t e d S o u r c e s a n d U s e s Anticipated Pro Forma Valuation and Ownership Split Existing S ha r e holde r s 64.4% PIPE 11 .4% SPAC S pon sors 4.8% SPAC Investors 19.3% Note: All values in millions except for share price. Assumes no redemptions from SPAC investors. Excludes impact of 7.06m sponsor warrants and 3.16m public warrants 1. SPAC cash amount subject to change depending on interest earned 2. Includes $50.0m Forward Purchase Agreement from SPAC sponsors 3. Includes 84.42m Innovid rollover shares, 15.00 PIPE shares, 6.33 sponsor shares and 25.30 SPAC shares 44 | 4. PF net cash calculated as pre - transaction net cash of $10m plus cash proceeds from transaction of $200m S o u r ces ( $M) SPAC C as h i n Tru s t 1 $253 20% PIPE Investment 2 150 12% Inn o v i d E q u i ty Rollo v e r 844 68% To tal S o u r ces $1,247 100% U s es ( $M) C as h to S elli ng S h a r e h olde rs $163 13% C as h to B ala n c e S h ee t 200 16% Inn o v i d E q u i ty Rollo v e r 844 68% F ee s a nd E x pe n se s 40 3% To tal U s es $1,247 100% P r o F or m a Va l uat io n ( $M) PF Sh a r e s Out s t a n d i n g 3 131.0 Sh a re Pr i c e $10.00 PF Eq u i ty Va l ue $1,310 (+) PF Ne t D e b t / (C as h) 4 (210) PF E nte rpri s e Va l ue $1,100 PF EV / 2 0 22E Re v e nue 8.5x 2022E Revenue $130 TRANSACTION OVERVIEW

1. Internal management results prior to PCAOB audit completion 2. Adjusted EBITDA includes add - back of stock - based compensation Finance Expenses NET INCOME TO ADJUSTED EBITDA RECONCILIATION 45 | Historical Annual Results 1 ($ in millions) Audited Unaudited 2018A 2019A 2020A Net Income ($0.3) ($7.1) ($0.7) Depreciation and Amortization 0.3 0.4 0.9 Finance and Other Expenses, Net 0.6 0.4 0.9 Taxes 0.4 0.7 0.9 Stock - based compensation 0.4 0.4 0.6 Adjusted EBITDA 2 $1.4 ($5.2) $2.6