Embark SPAC Presentation Deck

Supplemental Financial Projections Detail Pricing Detail Mile Detail (1¹) (miles in millions) Phase 1 Total Freight Miles Total Serviceable Miles 300+ Mile Routes 100-300 Mile Routes(2) Embark Miles Driven Phase 2 Total Freight Miles Total Serviceable Miles 300+ Mile Routes 100-300 Mile Routes(2) Embark Miles Driven Service Miles Driven W "1 NORTHERN GENESIS II 2024E 96,677 56,970 52,421 4,550 2,374 2024E 218,008 164,064 157,603 6,461 1.1% 2025E 98,224 59,455 53,425 6,029 7,432 2025E 221,496 169,081 160,519 8,562 3.3% Total Cost Per Mile Driver-Based Driver Wages Driver Benefits Driver Overhead Costs Total Driver Costs Vehicle-Based Total Vehicle Costs Total Costs Detail P&L ($ in millions) Revenue Gross Profit EBITDA CapEx EBITDA- Capex Human Driver $0.56 0.17 0.09 0.82 0.94 $1.76 (3) 2024E $867 584 (4) 8 (11) Embark Driver 0.96 $0.96 2025E $2,771 1,915 640 10 629 Analysis based on the Freight Analysis Framework, produced in partnership with the Bureau of Transportation Statistics and the Federal Highway Administration and additional data from the Bureau of Transportation Statistics 100-300 mile trips only economical in Direct to Customer model (i.e. origin/destination within operating domain) (3) Based on data from the American Transportation Research Institute 41

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