Embark SPAC Presentation Deck

How EMBARK Expects to Commercialize Its Business Two Phase Rollout Two Route Models "1 NORTHERN GENESIS II Phase 1: Sunbelt 2024+ Phase 2: Lower 48 2026+ ~210 Billion Incremental Semi-Truck Miles ~90 Billion Semi-Truck Miles TRANSFER POINT Customer Facilities Drayage "first mile" Customer Facilities W Human Driver Drayage "last mile" Transfer Point DIRECT TO CUSTOMER Autonomous Highway Segment Transfer Point E Autonomous Driving ● ● Embark shares a percentage of the savings with a carrier as a result of utilizing Embark's software solution Implies a $/mile subscription fee, which will be variable depending on the distance of the load Embark offers a drayage rebate for last-mile transfers to align incentives on the total cost of the load Transfer Point only economical for carriers on lanes >300 miles Direct to Customer economical on lanes >100 miles, when shipper facility within Embark coverage map The software is supported by Guardian, and Embark bears the cost EMBARK intends to partner throughout the ecosystem and participate with existing players, not compete against them 24

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