AppHarvest SPAC Presentation Deck

Transaction Overview Transaction Structure ● ● AppHarvest has entered into a business combination with Novus Capital Corp (NOVS) The transaction is expected to close in early Q1 2021 The post-closing company will retain the AppHarvest name and its common stock will be listed on Nasdaq under the ticker APPH The transaction, inclusive of the planned $375 million PIPE and a $30 million convertible note, will provide growth capital to the Company for future facility development A AppHarvest Valuation Transaction implies a pro forma enterprise value of $570 million 2.2x based on projected 2024E revenue of $258 million 9.3x based on projected 2024E Adj. EBITDA of $61 million Existing AppHarvest shareholders will receive ~48% of the pro forma equity 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 and convertible note Transaction expected to result in ~$464 million net proceeds to AppHarvest 2022 2023 35

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