Benson Hill SPAC Presentation Deck

BENSON HILL Benson Hill Compares Favorably vs. Public Market References Public Market References Growth Trajectory Technology ESG Solution Valuation Operational Revenue CAGR ('21E - '23E) Gross Margin (2023E) 2023 EV / Sales 2023 EV / EBITDA BENSON HILL™ Low High High ~ 50% (2021E-2027E) - 45% (2025E-2027E) 5 x 6 x (2026E) High Food Tech A Beyond Meat AppHarvest(2) AeroFarms (3) Low Medium / High High ~ - 40%(4) High -20% -35%(5) 8 x - 16 x 24 x - 41 x(6) Higher Growth Companies Ag Tech CODEXIS Low amyris calyxt High Medium / High ~ 5% - 20% ~ 40% - 70% 6 x - 10 x High ΝΑ TWIST Biotech 10x GENOMICS Low BIOSCIENCE 6 BERKELEY LIGHTS High Ginkgo Bioworks(2) ~ - 25% -51% Medium / High ~ 40% - 80% 12 x - 44 x ΝΑ z zymergen Ⓡ High Slower Growth Mature Companies Ag / Specialty Ingredients CORTEVA agriscience novozymes CHR Other Ingredients (1) Low Medium Low / Medium - 5% ~ 50% 2x-9x High 12 x - 23 x Source: Benson Hill, Bloomberg, CapIQ, IBES consensus estimates and company disclosures; market data as of 1-Jun-2021. (1) Other Ingredients reflects average for AAK, Givaudan, IFF, Kerry, Sensient, and Symrise. (2) AppHarvest and Ginkgo Bioworks projections based on management forecast per latest investor presentation. (3) AeroFarms metrics based on management forecast per latest investor presentation. (4) Based on Beyond Meat's '21E - '23E revenue CAGR. (5) Based on Beyond Meat and AeroFarms 2023E Gross Margin. (6) Excludes AeroFarms and reflects EV / 2024 EBITDA. 59

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