Slide 1: Second Quarter 2021 Earnings Call
Second Quarter 2021 Earnings Call The world’s leading carbon negative materials company August 12, 2021
Slide 2: Forward looking statements and disclaimers
Forward looking statements and disclaimers FORWARD-LOOKING STATEMENTS This presentation and the accompanying oral presentation have been prepared by Origin Materials, Inc. (“Origin”) for informational purposes only and not for any other purpose. Certain statements included in this presentation that
Slide 3: Q2 2021 highlights
Q2 2021 highlights Origin’s mission is to help drive the world’s transition to sustainable materials by providing sustainable, plant- based, zero-carbon materials designed for “drop-in” use and at economics comparable to existing fossil-fuel based materials which are supported by a growing list of g
Slide 4: Origin has grown customer demand by ~$2.5Bn since announcing transaction
Origin has grown customer demand by ~$2.5Bn since announcing transaction Total demand is $3.5Bn in either offtake agreements or capacity reservations1 Customer Demand, $Bn cumulative Select Origin Customers & Partners ~$3.5Bn ~$1.6Bn Additional Demand Since Analyst Day ~$1.9Bn ~$0.9Bn Additional Dem
Slide 5: Proven and scalable technology platform (1 of 2)
Proven and scalable technology platform (1 of 2) • Our technology platform converts feedstocks such as wood residues, post-consumer cardboard, mixed paper waste and other cellulosic materials into our two principal Origin’s technology intermediate chemicals: CMF1 and HTC2 platform is based on • CMF
Slide 6: Proven and scalable technology platform (2 of 2)
Proven and scalable technology platform (2 of 2) • Origin is differentiated from other biomaterials companies via our highly carbon efficient chemo-catalytic process as most of the carbon in our feedstock ends up in our products • More novel technologies such as thermochemical--including gasificatio
Slide 7: Origin's technology uses conventional chemical processing, well suited to scale-up
Origin’s technology uses conventional chemical processing, which is inherently well suited to scale-up Moreover, Origin technology offers additional technical and economic advantages for process scale-up Origin technology scale-up advantages Technology comparison Proven approach for scaling up bio-p
Slide 8: Origin 1 and Origin 2 construction budget and timeline on track
Origin 1 and Origin 2 construction budget and timeline on track • We continually review construction costs and timelines to assess the impact of Reaffirm previous outlook macroeconomic movements such as inflation and supply chain disruptions on expected capital budget • Continuous real time feedback
Slide 9: Construction – process modules
Construction – process modules The 17 completed core process modules, fabricated by Koch Modular, are ready for installation at Origin 1 site in Sarnia, Ontario. • The unique, Origin-specific technology components of Origin 1 are already fabricated • Installation involves lifting these units from th
Slide 10: Construction – Origin 1 story (1 of 2)
Construction – Origin 1 story (1 of 2) >10 years bench/pilot scale chemistry & engineering Origin 1 core technology module fabrication Origin 1 design 10
Slide 11: Construction – Origin 1 story (2 of 2)
Construction – Origin 1 story (2 of 2) Foundations Origin 1 Plant Tanks & other equipment Core technology modules 11
Slide 12: Construction schedule – Origin 1, Origin 2, and Origin 3
Construction schedule – Origin 1, Origin 2, and Origin 3 2021 2022 2023 2024 2025 2026 2027 Origin 1 Onsite Construction & Origin 1 Operating Mechanical Completion Module Erection Start Up (previous vs updated) Construction & Site Selection Fabrication Start Mechanically Complete Origin 2 Project De
Slide 13: Construction schedule – Origin 1 operations
Construction schedule – Origin 1 Origin 1 – plant purpose Origin 1 Timeline (Detail View) ‒ Produce CMF and HTC at commercial volumes ‒ Produce CMF and HTC and other intermediates in volumes that allow customers to qualify products and applications other than PET 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022
Slide 14: Construction schedule – Origin 2 project development
Construction schedule – Origin 2 2021 2022 2023 2024 2025 Site Screening Recent accomplishments / status Site Selection ‒ Site selection: Narrowed to handful of potential sites Project Development ‒ Selected Worley as Engineering Partner Site Evaluation Objectives – by end of Q4 2021 ‒ Site sele
Slide 15: Construction – execution
Construction – execution Recent Additions to Technical Leadership Team – Proven Expertise in Plant Construction & Technology Scale-Up Capital Project Partners Bob Nissen David Ballow Phil McAllister Origin 2 Project Director Origin 2 Process Origin 1 Project Director Technology Director Jim Wells Ma
Slide 16: Financials in-line with previous outlook
Financials in-line with previous outlook • With ramp up of employee hiring and operations in support of construction, product Financial operating metrics development and sales activities, Q2 2021 Adjusted EBITDA loss was $3.0 million for Q2 2021 are in-line with compared to a loss of $1.6 million in
Slide 17: Appendix
Appendix
Slide 18: Long-term target operating model
Long-term target operating model Origin Plant 1 Origin Plant 2 Origin Plant 3-7 Average Illustrative Run-Rate Economics Mn lb. biomass input 49 2,205 2,205 Mn lb. products sold 146 2,412 1,313 CapEx ($Mn) $701 $1,072 $811 ROIC (Adj. plant margin/CapEx) NM 35.9% 51.1% $Mn $/lb. product $Mn $/lb. prod
Slide 19: Share count
Share count Class Outstanding Shares of Common Stock Total Shares Outstanding1 136,748,470 Shares subject to forfeiture1 4,500,000 Total Shares Outstanding, including Shares subject to forfeiture1 141,248,470 Shares Reserved for Future Issuance Pursuant to Potential Earnouts, Outstanding Warrants, a
Slide 20: Reconciliation of GAAP and Non-GAAP results
Reconciliation of GAAP and Non-GAAP results We believe that the presentation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization (Adjusted EBITDA) is appropriate to provide additional information to investors about our operating profitability adjusted for certain non-cash ite
Slide 21: The world's leading carbon negative materials company
The world’s leading carbon negative materials company