GreenLight SPAC Presentation Deck slide image

GreenLight SPAC Presentation Deck

Summary of approach ● GreenLight indicative valuation ● Applies a range of 8.0x - 8.8x to GreenLight's 2024E Human Health revenue of $212m and 13.7x- 15.1x ($ in billions) to its 2026E Plant Health revenue of $321m to arrive at an implied future enterprise value Multiple range based off range of Healthcare EV/CY 2024E revenue trading multiple of 8.4x +/- 5% and Ag & Food Prod. EV/CY 2026E revenue trading multiple of 14.4x +/- 5% The future enterprise value is discounted 5 years back to 2021 at a 20% discount rate to arrive at an implied discounted enterprise value EV/ Revenue 2026E Metric $533m(1) Implied EV based on comparable companies current trading valuations Future enterprise value $6.7bn $6.1bn $6.4bn T Implied future enterprise value 11.4x 12.6x 2026E Revenue 1 1 I 1 Discounted enterprise value $2.6bn-- $2.7bn Source: Company filings and FactSet as of 8/6/21. (1) Reflects 2024E Human Health and 2026E Plant Health revenues. Investor Presentation | © 2021 GreenLight Biosciences. All rights reserved. GreenLight confidential. $2.4bn Implied discounted enterprise value (Discount at 5 periods: 20%) 4.6x - 5.1x 2026E Revenue Illustrative transaction valuation Enterprise value L-80-82% discount $1.2bn Enterprise value (Implied discount rate: -40%) 2.3x 2026E Revenue 45
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