LanzaTech SPAC Presentation Deck

Projected Need to Fund Growth ($ in millions) 2022 Investment in carbon capture transformation plant rollout expected to accelerate growth 2023 2024 Adjusted EBITDA nears breakeven in 2023, with positive adjusted EBITDA expected to begin in 2024 2025 Continued strong adjusted EBITDA growth and reduced capex spending expected to drive significant positive free cash flow generation 2026 Significant increase in operating and net cash flow as business scales LanzaTech Cash Flow from Operations CFO (excl. Working Capital) Net A in Working Capital Total Cash Flow from Operations Cash Flow from Investing Purchases of Property Net Co-Development Total Cash Flow from Investing Cash Flow from Financing Equity Contribution (Net)¹ Projected Financing² Total Cash Flow from Financing Total A in Cash Ending Cash Balance Cash Flow Projections 2022E $(48) (10) $(58) $(20) (17) $(36) $ 200 $ 125 $ 325 $ 231 359 2023E $(4) (30) $(34) $(33) (45) $(78) $0 $0 $0 $(112) 247 2024E $ 65 (45) $ 20 $(22) (137) $(159) $0 $0 $0 $(139) 108 2025E $ 184 (60) $ 124 $(20) 18 $(1) $0 $0 $0 $ 123 230 2026E $ 328 (42) $ 287 $(23) 60 $ 37 $0 $0 $0 $ 324 554 Total $ 525 (186) $ 339 $(117) (121) $(238) $ 200 $ 125 $325 $ 426 Source: LanzaTech management ¹ Assumes no AMCI stockholder redemptions. 2022E figure excludes $30mm attributable to ArcelorMittal Safe note investment in December 2021, which will convert (and be part of) PIPE proceeds. 2 Assumes Projected Financing. 40

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