Benson Hill SPAC Presentation Deck

BENSON HILL Expect Significant Gross Margin Expansion Over Time Gross Profit by Segment ($mm) Blended Gross Margin % $32 Fresh $74 Ingredients $212 $372 $12 $12 $2 2020A¹2021E 2022E 2023E 2024E 2025E 2026 2027E $703 Partnerships/Royalties Ingredients and Partnerships/Royalties drive gross profit growth Source: Benson Hill. (1) Excludes contribution from a business divested in 2020. 12% 9% UHP INVESTMENTS 13% 1% PARTNERSHIPS AND ROYALTIES 21 % 38 % FRESH 43% 48 % (1) 2020A 2021 E 2022E 2023E 2024E 2025E 2026 2027E Investment in UHP over next three years enhances gross margin expansion UHP Costs ($/st) (Indexed) 100% 2022 UHP Cost ($/st) (30%) YE '22 (15%) YE '24 (30%) ¹22-¹24 White Flake Texturization Protein Capital Capital Content Investment Investment Improvements 25% 37 2025 UHP Cost as % of 2022 ($/st) Investment in integrated approach and continued innovation allow for greater control of production costs

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