Benson Hill SPAC Presentation Deck

BENSON HILL Benson Hill Compares Favorably vs. Public Market References Public Market References Growth Trajectory Technology ESG Solution Valuation Operational Revenue CAGR ('21E - '23E) Gross Margin (2023E) 2023 EV / Sales 2023 EV / EBITDA BENSON HILL™ ㅏ Low High High ~ 50% (2021E-2027E) ~ 45% (2025E-2027E) 5 x 6 x (2026E) High Food Tech A Beyond Meat AppHarvest(2) AeroFarms (3) Low Medium / High High ~40%(4) High ~20% -35%(5) 8 x 16 x 31 x 39 x(6) Higher Growth Companies Ag Tech CODEXIS Low amyris calyxt High Medium / High ~ 10% - 20% - 40% - 70% 6 x - 12 x High ΝΑ 10x GENOMICS" Low Biotech T 6 BERKELEY LIGHTS High Medium / High ~ 30% -35% ~50% - 80% 20 x 29 x ΝΑ High Slower Growth Mature Companies Ag / Specialty Ingredients CORTEVA agriscience novozymes CHR Other Ingredients (1) Low Medium Low / Medium ~ 5% ~ 50% 2x-9x 1 High 13 x 23 x Source: Benson Hill, Bloomberg, CapIQ, IBES consensus estimates and company disclosures; market data as of 30-Apr-2021. (1) Other Ingredients reflects average for AAK, Givaudan, IFF, Kerry, Sensient, and Symrise. (2) AppHarvest projections based on management forecast per latest investor presentation. (3) AeroFarms metrics based on management forecast per latest investor presentation. (4) Based on Beyond Meat's '21E - '23E revenue CAGR. (5) Based on Beyond Meat and AeroFarms 2023E Gross Margin. (6) Excludes AeroFarms and reflects EV / 2024 EBITDA. 42

View entire presentation