AppHarvest SPAC Presentation Deck

Transaction Overview Transaction Structure ● ● Novus has proposed to enter into a business combination with AppHarvest, a developer and operator of applied technology large scale controlled indoor farms The transaction is expected to close in 2H 2020 It is anticipated that the post- closing company will retain the AppHarvest name and be listed on the NASDAQ The transaction, inclusive of the planned $200 million PIPE financing, will provide growth capital to the Company for future facility development Valuation Transaction implies a pro forma enterprise value of $550 million 2.2x based on projected 2024E revenue of $246 million AAAppHarvest (a) See slide 24 for key assumptions and additional details. 11.2x based on projected 2024E Adj. EBITDA of $49 million Existing AppHarvest shareholders will receive ~60% of the pro forma equity(a) Capital Structure The transaction will be funded by a combination of Novus cash held in trust account, Novus common stock, and proceeds from the PIPE Transaction expected to result in -$277 million net proceeds to AppHarvest CARE ETT

View entire presentation