Embark SPAC Presentation Deck

Choosing the Right Strategy in AV Trucking Recent Public Transactions Company Major Investors (1) U.S. Shipper Partnerships U.S. Carrier Partnerships OEM Strategy Initial Go-to- Market Market Offices W NORTHERN GENESIS II DC Data Software-as-a-Service SEQUOIA * Collective KNIGHT TRANSPORTATION EMBARK * Driver Out ABInBev hp * SWIFT WERNER TRANSPORTATARN ENTERPRISES Y Combinator M TIGERGLOBAL Embark Universal Interface Exclusively USA 100% USA USA ● * ● Partner with Carriers ESILLA ALLEY RANSPORTATION San Francisco Los Angeles * MAVEN VENTURES * I I SUN Dream Inc. ups China tu simple Fleet WERNER ENTERPRISES Driver Out Beijing Shanghai sna新浪网 sina.com.cn McLANE. SCHNEIDER Custom Navistar Truck (Navistar is 11% of Market) (2) COMPOSITE CAPITAL ● Carrier owned Trucks TuSimple owned Trucks ~70% USA /~28% China / ~3% Europe(3) USA ● U.S.XPRESS ● I San Diego Tucson Forth Worth Full Truck China Beijing Shanghai Suzhou *PIPE commitment Source: Company filings, Transport Topics, Top 100 For-Hire carrier data from Transport Topics (1) Embark and TuSimple select investors represent investors with 5%+ ownership. Plus.ai includes Board Investors due to lack publicly available shareholder ownership information (2) Traton and Navistar are in the process of completing a merger. Navistar's International is the brand of the two that operates in the US and has 11% of market based on public data (3) Based on testing and commercial deployment (trucks in fleet) (4) Based on 2025E revenue breakdown Retrofit →→Plus GSR Ventures 國泰君安國際 GUOTAL JUNAN INTERNATIONAL Retrofit Driver In 15% USA / 85% China(4) USA Cupertino HS Investments III Limited 21

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