Origin SPAC Presentation Deck

Approach • Applies a range of 20.0x - 30.0x multiples to Origin Materials 2026E EBITDA of $296 million to arrive at an implied future enterprise value ● Origin has significant upside potential Discount Rate The future enterprise value is discounted 5 years back to 2021 at a 20% discount rate to arrive at an implied discounted enterprise value Implied Discounted EV Sensitivity 20.0x 15.0% $2,939 20.0% 2,375 25.0% 1,937 EBITDA Multiples 22.5× 25.0x 27.5x 30.0x $3,306 $3,673 $4,040 $4,408 2,672 2,969 3,266 3,563 2,179 Transaction Multiples 2,421 2,663 2,905 Metric ($Mn) 2026E Revenue $830 2027E Revenue $1,499 2027E EBITDA $600 Implied EV based on comparable companies current trading valuations ($Mn) Future Enterprise Value $8,866 ~650% Midpoint Premium $5,910 20.0x - 30.0x 2026E EBITDA of $296Mn 7.1x10.7x 2026E Revenue 3.9x5.9x 2027E Revenue 9.9x14.8x 2027E EBITDA Discounted Enterprise Value $3,563 ~200% Midpoint Premium $2,375 Discounted 5 Periods at 20% 2.9x - 4.3x 2026E Revenue 1.6x2.4x 2027E Revenue 4.0x 5.9x 2027E EBITDA Transaction valuation Enterprise Value $999 Enterprise Value 1.2x 2026E Revenue 0.7x 2027E Revenue 1.7x 2027E EBITDA ORIGIN 37

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