AppHarvest SPAC Presentation Deck

Significant Market Opportunity National grocery chains desperately seeking large scale supply of domestically grown produce as an alternative to imports. The U.S. needs 20,000 acres of controlled environment facilities to reduce imports of tomatoes, cucumbers and peppers(a) Secular shift to plant-based foods creating increased demand for locally grown, high-quality produce Much of fresh produce is imported from Mexico, with national grocers seeking alternative supply as a result of: Heavier use of harmful pesticides Shipping costs, travel time and carbon footprint Potentially troubling labor practices Opportunity to also replace some of the Southwestern U.S. production (currently grows 90% of leafy greens from November through March) which is trucked cross-country to serve the East Coast Increased Need to Replace Imports With Domestically Grown Produce (% Imported) A AppHarvest 41% 2008 Tomatoes 60% 2019 55% 2008 Source: U.S. Department of Agriculture. (a) Wageningen University & Research, June 2020. (b) Reflects average rate of imports for bell peppers, tomatoes, cucumbers. 80 60 40 20 0 Desperate Need for U.S. Sourcing By Country 70% Mexico Cucumbers 81% 2019 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 3% 18% Canada 2008 4% Peru 2% China 7% Other Lettuce 6% 2019 48% % Vine Crop Imported 2008 Peppers 66% 69% 2019 10

View entire presentation