BenevolentAI SPAC Presentation Deck

Strong Financial Position €440m+ Pro-Forma Cash R&D Tax Credit Opex Capex I >€440m pro-forma cash provides capital to fund the business beyond 2025¹, delivering multiple value inflection points ■ Expected 2021 net cash burn of ~€60m Expected 2021 gross cash burn of ~€86m - excluding cash inflows ▪ The R&D Tax Credit is a cash receipt from the UK Tax Authority (HMRC). Cash is paid to the Company in return for the surrendering of tax losses. The R&D Tax Credit is a function of R&D spend and we expect the amount to grow as we increase R&D. For 2020 a Tax Credit of £10.4m was recognised. Within certain limits, we can expect an R&D Tax Credit of roughly one third of our R&D expenditure for a given year Expected opex of ~€85m for 2021, largely related to R&D (~50%), with the balance split between Product & Technology (the BenevolentAl Platform) and G&A expenses Annual opex is expected to double by 2025 Cutting-edge equipment and facilities already in place in Cambridge, UK ~€1-2m p.a. for the next two years. Capex is light (cloud computing, existing well-equipped lab) (1) Assumes no share redemptions from ODYSY shareholders Confidential Benevolent 36

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