Slide 1: 1Q 2023 Earnings Presentation
1Q 2023 EARNINGS PRESENTATION MAY 15, 2023 Nasdaq: LNZA A Carbon Recycling Company ©2023 LanzaTech Inc. All rights reserved.
Slide 2: Forward Looking Statements
Forward Looking Statements These slides and any accompanying oral presentation contain forward-looking statements. All statements, other than statements of historical fact, included in these slides and any accompanying oral presentation are forward-looking statements reflecting management’s current
Slide 3: Agenda / Table of Contents
3 Biorefining: CCT Plants AGENDA / TABLE OF CONTENTS Presenters • Introduction and recap Jennifer Holmgren, CEO • 2023 execution priorities Jennifer Holmgren, CEO • Overview of 1Q 2023 financial results Geoff Trukenbrod, CFO • Appendix: Additional financial information
Slide 4: The processes that underlie human civilization are making our planet uninhabitable
The processes that underlie human civilization are making our planet uninhabitable LanzaTech has commercialized a decarbonization solution that unites biology with engineering to enable a circular economy Image credit: Pacific Ring of Fire 2004 Expedition. NOAA Office of Ocean Exploration; Dr. Bob E
Slide 5: Carbon Is Everywhere
CARBON IS EVERYWHERE POY
Slide 6: The world has enough carbon above ground to make everything we need
THE WORLD HAS ENOUGH CARBON ABOVE GROUND TO MAKE EVERYTHING WE NEED WE SEE VALUE WHERE OTHERS SEE WASTE 6
Slide 7: Introduction & Recap
INTRODUCTION & RECAP
Slide 8: LanzaTech at a Glance
LANZATECH AT A GLANCE… 8 Biorefining: CCT Plants Carbon recycling company with proven technology, currently deployed at 3 commercial- scale facilities Highly scalable technology protected by over 1,300 patents deployed across diverse feedstocks to profitably abate carbon for our customers 18 years o
Slide 9: Creating Value from Waste: Commercially Proven at Scale
CREATING VALUE FROM WASTE: COMMERCIALLY PROVEN AT SCALE 9 STRONG REVENUE GROWTH Y/Y: 2020-2023E $ millions $18.4 $25.5 $37.3 $0 $40 $80 $120 2020 2021 2022 2023E 1.4x 1.5x 2.7x $120 $80 2023E Revenue Guidance1 ▪ 18 years of continuous scaling and de-risking ▪ 3 licensed commercial facilities operati
Slide 10: Strong Leadership Team Focused on Technology Deployment
10 STRONG LEADERSHIP TEAM FOCUSED ON TECHNOLOGY DEPLOYMENT Aura Cuellar EVP Growth & Strategic Projects Leads LanzaTech’s strategic capital deployment via Brookfield partnership Former VP of Energy Transition and Head of Capital Projects & Turnarounds at Shell US. Demonstrated record of running and
Slide 11: Brookfield Partnership Accelerates Project Deployment
11 BROOKFIELD PARTNERSHIP ACCELERATES PROJECT DEPLOYMENT ◼ Brookfield partnership unlocks sophisticated infrastructure capital to invest in projects and further validates the LanzaTech technology platform ◼ Structured framework agreement enables capital-light project development solution and acceler
Slide 12: Business Combination Overview
12 BUSINESS COMBINATION OVERVIEW ▪ Business combination closed February 8, 2023 ▪ Merged entity: LanzaTech Global, Inc. ▪ Capital raised expected to fully fund the business ▪ Strong investor group, combination of new and existing investment partners $0 $50 $100 $150 $200 $250 $30 $50 $155 $7 $242 Pr
Slide 13: Recent CarbonSmart Product Rollouts
13 RECENT CARBONSMART™ PRODUCT ROLLOUTS
Slide 14: Company Recap & Significant Recent Milestones
14 COMPANY RECAP & SIGNIFICANT RECENT MILESTONES ▪ $37.3 million in revenue in 2022, a 1.5X increase over 2021 ▪ Completed business combination in February 2023, raising $242 million in gross proceeds throughout the transaction ▪ 3 licensed commercial facilities operating; 3 additional expected to s
Slide 15: 2023 Execution Priorities
2023 EXECUTION PRIORITIES
Slide 16: 2023 Execution Priorities
2023 EXECUTION PRIORITIES 1 2 3 4 5 SAFETY FIRST Zero lost time injuries ADJUSTED EBITDA Reduce 2023 Adjusted EBITDA loss y/y by 10-20%: 2023E Adjusted EBITDA guidance of $(55M)-$(65M) Pathway to Adjusted EBITDA positive by the end of 2024 GLOBAL PRODUCTION Grow total installed nameplate capacity by
Slide 17: Overview of 1Q 2023 Financial Results
OVERVIEW OF 1Q 2023 FINANCIAL RESULTS
Slide 18: Overview of 1Q 2023 Financial Results
OVERVIEW OF 1Q 2023 FINANCIAL RESULTS 18 Summary Financial Results¹ Commentary Revenue: ▪ Revenue up 23% YoY in 1Q 2023, primarily from sales of engineering services from existing customers indicating progression of projects through the pipeline Gross Profit: ▪ Gross margin of 19% in 1Q 2023. YoY de
Slide 19: Strong Pipeline That Positions the Company for Continued Growth and Scale Through 2023
19 STRONG PIPELINE THAT POSITIONS THE COMPANY FOR CONTINUED GROWTH AND SCALE THROUGH 2023 1Biorefining project pipeline as of April 15, 2023; 2Suncor ERA and Sekisui 1/10th are demonstration-scale plants. Reiterating 2023 Guidance: ▪ Revenue: $80 - $120 million ▪ Adjusted EBITDA: $(65) - $(55) milli
Slide 20: Appendix: Additional Financial Information
APPENDIX: ADDITIONAL FINANCIAL INFORMATION Nasdaq: LNZA
Slide 21: Results of Operations – Three Months Ended March 31, 2023
21 RESULTS OF OPERATIONS – THREE MONTHS ENDED MARCH 31, 2023 Three Months Ended March 31, Change 2023 2022 2023 vs. 2022 (In thousands, except for per share amounts) Total revenue 9,646 7,857 1,789 23 % Cost of revenues (7,790) (5,829) (1,961) 34 % Gross Profit $ 1,856 $ 2,028 $ (172) (8) % Operatin
Slide 22: Reconciliation of Net Loss to Adjusted EBITDA
22 RECONCILATION OF NET LOSS TO ADJUSTED EBITDA (1) Stock-based compensation expense represents expense related to equity compensation plans Three Months Ended March 31, (In thousands) 2023 2022 Net Loss $ (63,312) $ (16,778) Depreciation 1,257 1,059 Interest income (214) — Stock-based compensation