Embark SPAC Presentation Deck

Embark Leads the Industry in Key Milestones(1) Self-Driving Truck Industry Public Milestone Date of Completion Technical Milestones On-Road Operation Long Run - DE Free Surface Street Navigation Freight Delivery Work Zone Handling (2) Business Milestones Transfer Point or Terminal Partner Program W 2017 W tu NORTHERN GENESIS II 2018 W tu tu TuSimple Ok tu 2019 tu Ok W 2020 Plus.ai tu tu k Embark W Waymo k (1) Milestone data is based on publicly available information; Logo exclusion indicates no publicly available data Note: All dates based on the first public record of the respective company achieving the milestone on a US Class 8 Truck (2) Work Zone handling refers to an AV truck detecting and responding to a previously unmapped Work Zone 2021 Kodiak W W Aurora Attractively Priced Relative to TuSimple Public Comp FV / 2025E Revenue (Median consensus estimates) Market Capitalization (Basic market capitalization, in $US billions) $5.2bn (3) ($US millions) 5,158 $8.5bn (4) EMBARK (3 EMBARK tu simple EMBARK tu simple EMBARK tu simple Attractively Priced Relative to Broader AV Ecosystem 8,491 tu simple(4) May 2021 1.6x May 2020 3.3x 30,750 30,000 11 cruise Jan 2021 10,000 FV/2025E EBITDA (Median consensus estimates) 19.0x Aurora(5) Feb 2021 7.1x 7,250 ARGO Jun 2020 5,000 nuro Ike Nov 2020 3,301 Plus (3) May 2021 Source: Company Presentations, Pitchbook, Bank of America, Piper Sandler, Cowen, RBC Capital Markets, Baird and Morgan Stanley Equity Research Reports (3) Represents post-money equity value (4) TuSimple market capitalization based on offer price at IPO of $40 per share and shares outstanding of 212,263,328 per company filing (5) In February 2021, Uber sold it's self-driving unit to Aurora in exchange for a 26% interest in the combined entity at a $10B valuation 29

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