Embark SPAC Presentation Deck

Embark / Northern Genesis II Financial Model Framework Autonomous Truck Miles Driven(1) Total Addressable Market of ~300 Billion Miles Annually Today Transfer Point >300 Miles NORTHERN GENESIS II 86% of Miles are in Autonomous Economic Freight Lanes Direct to Customer >100 Miles Expected Embark Penetration as a % of Serviceable Miles 2024E 1.1% Embark ODD ~ 80-90% of Economic Freight Lanes 2025E 3.3% Human Driver vs. Embark Driver $1.76(2) $0.82 $0.94 Human Driver Total Driver Cost Per Mile $0.96 $0.96 Embark Driver Total Vehicle Cost Per Mile Net Savings $0.80/Mile (1) Analysis based on the Freight Analysis Framework, produced in partnership with the Bureau of Transportation Statistics and the Federal Highway Administration and additional data from the Bureau of Transportation Statistics Based on data from the American Transportation Research Institute 25

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