Embark Investor Presentation Deck

FINANCIAL FRAMEWORK 1) 2) 3) Top-Down Approach The total addressable market for Embark's technology is large, even at small adoption levels We are already analyzing the opportunity with partners, evaluating where autonomous trucking is economical, and working together to refine the plan to operationalize and commercialize our technology at scale. The need for Embark's technology is clear and present Top-Down Approach - TAM ~300 Billion Annual Truck Miles Driven EMBARK 86% of Miles Transfer Point >300 Miles(2) ~80-90% of miles are within Embark's ODD Direct to Shipper >100 Miles(2) ~236 Billion Mile Opportunity 14,200 Truck Reservations 38,000 Trucks Under Management (3) 3 Billion Annual Human Driven Miles(4) 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 Link 100-300 mile trips only economical in Direct to Shipper model (i.e. origin/destination within operating domain). Reflects number of total trucks in aggregate fleets of all PDP partners. Fleet size sourced from FreightWaves and Transport Topics. Bottoms-Up Approach - PDP Program 4) 90,000 Annual Miles Driven per Human Truck. (5) Based on 720,000 truck lifetime miles. 6) 7) Bottom-Up Approach 14,200 Truck Reservations Represent 10 Billion(5) Lifetime Embark Revenue Generating Miles PDP Partners Spend ~$1.4 Billion Annually on New Trucks Representing ~9,500 Trucks(6) Top 100 Carriers Spend ~$15 Billion Annually on New Trucks Representing ~110,000 Trucks(6) Industry-wide Class 8 Truck Sales of ~222,000 in 2021(7) 25% Annual Fleet Turnover for major fleets and $150,000 truck purchasing cost. Top 100 Carriers total ~450,000 tractors in 2021 per Transport Topics. American Truck Dealers Truck Beat. December ¹21 • 13

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