LanzaTech SPAC Presentation Deck

Peer Benchmarking Relative EV / Revenue and EV / EBITDA Valuations 31.1 x 274.2 x 20.7 x ITM POWER *gevo POWER GINKGO BIOWORKS 8.0 x ARTA CARBON 7.7 x 187.2 x 145.6 x 53.7 x Hi -chargepoin+ EV / 2024E Revenue ONGO BOWORKS ORIGIN POWER 7.3 x LanzaTech 20.0 x novozymes 7.2 X $ $ EV / 2024E Adjusted EBITDA novozymes -chargepoin+ 11.5 x Synthetic Biology Sustainable Materials/Fuels Decarbonization Enablers 5.0 X stem LanzaTech: 4.2 x 2.7 X 10.0 X Median 8.6 x 2.1 X NESTE amyris Synthetic Biology Sustainable Materials/Fuels Decarbonization Enablers Median LanzaTech: 2 1.0 x amyris NESTE stem 1.5 x NM (ITH POR : 22.8 x 7.2 x 7.3 5.0 NM 20.0 x 10.0 99.7 NM ORIGIN gevo 15.3 x ITM POWER 96.5 x 7.5 x () ITM POWER 47.3 x || gevo novozymes 6.6 x -chargepoin+ R 31.2 x PLUG POWER 5.3 x PLUG 5 POWER EV / 2025E Revenue 18.2 x 4.8 x novozymes GINKGO BIOWORKS 17.4 x 3.4 x * GINKGO BIOWORKS EV / 2025E Adjusted EBITDA 1.7 x 14.7 x Synthetic Biology Sustainable Materials/Fuels Decarbonization Enablers -chargepoin+ RIGIN amyris 1.6 x LanzaTech: 2.6 x 1.5 x 1.2 x 13.9 x Synthetic Biology Sustainable Materials / Fuels Decarbonization Enablers Median NESTE Synthetic Biology Sustainable Materials/Fuels Decarbonization Enablers Median NESTE 10.0 X 6.2 X LanzaTech:7 : 7.2 x 5.7 x gevo ORIGIN stem amyris Source: Public disclosures, Capital IQ, Bloomberg and IBES Estimates; market data as of 02-Mar-20221 Note: Assumes Enterprise Value for LanzaTech of $1,815mm. LanzaTech Adjusted EBITDA adds back stock-based compensation and includes LanzaTech's share of LanzaJet's Net Income. EBITDA measures may not be directly comparable between companies presented. 46 4.8 x 1.7 3.4 0.8 x stem 17.4 x 10.0 31.2 5.5 x

View entire presentation