Hyzon SPAC Presentation Deck

Implied Valuation Discount of Hyzon Versus Peers Based on Post-Money Hyzon Enterprise Value of $2.1bn $ 46.3Bn HYZON | DCRB+ Implied EV @ Hydrogen Mult $ 35.5Bn Implied EV @ Hydrogen Mult Implied Discount Vs Peers Hyzon 2024 Revenue: $ 2.2Bn $ 13.7Bn Implied EV @AutoTech Mult Hyzon 2024 EBITDA: $ 326mm Implied Discount Vs Peers $ 10.7Bn Source: Management estimates, Bloomberg, and public filings. Market data as of 12-Jan-2021. Implied EV @ AutoTech Mult ■Hydrogen $21.9Bn Implied EV @TSLA Mult $15.8Bn Implied EV @ TSLA Mult ■Auto Tech Suppliers 90 % Avg. Discount $ 2.1Bn Post-Money EV 87 % Avg. Discount $ 2.1Bn Post-Money EV POST-MONEY EV IMPLIES COMPELLING VALUATION VERSUS RELEVANT PEERS FINANCIALS 41

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