Slide 1: 2Q 2023 Earnings Presentation
2Q 2023 EARNINGS PRESENTATION August 9, 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: Financial Information; Non-GAAP Financial Measures
Financial Information; Non-GAAP Financial Measures To supplement our financial statements presented in accordance with US GAAP and to provide investors with additional information regarding our financial results, we have presented adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is not
Slide 4: Agenda / Table of Contents
4 Biorefining: CCT Plants AGENDA / TABLE OF CONTENTS Sections Presenters • 2023 execution priorities. . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer Holmgren, CEO • Global production update. . . . . . . . . . . . . . . . . . . . . . . . Jennifer Holmgren, CEO • Commercial growth. . . . .
Slide 5: 2023 Execution Priorities
2023 EXECUTION PRIORITIES 5 Q2 2023 STATUS SAFETY FIRST Zero lost time injuries GLOBAL PRODUCTION Grow total installed nameplate capacity by ~100% to enable >300 KTA of waste-based ethanol Commercial operations across multiple feedstocks & geographies including China, Europe, and India COMMERCIAL GR
Slide 6: Global Production Update
GLOBAL PRODUCTION UPDATE Nasdaq: LNZA
Slide 7: 2023 Expected Gas Fermentation Plant Start Ups
2023 EXPECTED GAS FERMENTATION PLANT START UPS 7 Project/Partner Carbon Source Actual or Anticipated Start Date Ethanol Production Volume (tons/year) CO2 Abated (tons/year) Location Shougang Steel JV Ferroalloy Off Gas 2Q 2023 60,000 ~120,000 China IndianOil Refinery Off Gas 3Q 2023 33,500 ~60,000 I
Slide 8: 2023 Expected LanzaJet Freedom Pines Fuels Plant Completion
2023 EXPECTED LANZAJET FREEDOM PINES FUELS PLANT COMPLETION 8 The 10MGPY Sustainable Aviation Fuel project – the LanzaJet Freedom Pines Fuels Project – remains on schedule to reach mechanical completion by end of 2023 and commence operations in early 2024
Slide 9: Commercial Growth
COMMERCIAL GROWTH Nasdaq: LNZA
Slide 10: Strong Pipeline That Positions the Company for Continued Growth and Scale
10 STRONG PIPELINE THAT POSITIONS THE COMPANY FOR CONTINUED GROWTH AND SCALE 60+ Active Engagements with Positive Technoeconomic Results 20+ Early-Stage Engineering 10 Advanced Engineering 4 Construction ACTIVE CUSTOMER BIOREFINING PROJECT PIPELINE1 PROJECT DEVELOPMENT & PIPELINE STAGE GATES Techno
Slide 11: Overview of 2Q 2023 Financial Results
OVERVIEW OF 2Q 2023 FINANCIAL RESULTS Nasdaq: LNZA
Slide 12: Overview of 2Q 2023 Financial Results
$5.9 $9.7 $1.0 $1.0 $3.0 $2.2 $0 $2 $4 $6 $8 $10 $12 $14 Q2 2022 Q2 2023 OVERVIEW OF 2Q 2023 FINANCIAL RESULTS 12 Summary Financial Results¹ Commentary Revenue: ▪ Revenue up 31% YoY in 2Q 2023, primarily from sales of engineering services from existing customers indicating progression of projects th
Slide 13: Forecasting Our Business
FORECASTING OUR BUSINESS Nasdaq: LNZA
Slide 14: Key Financial Drivers
KEY FINANCIAL DRIVERS 14 Guiding principles to what drives our financials: ▪ Focus on years, not quarters – project development timelines are lengthy and subject to fluctuation ▪ Gross margin to grow over the medium and long term, particularly as revenue mix in Biorefining segment shifts to recurrin
Slide 15: Biorefining Project Stage Gates, Probabilities, and Timeline
15 BIOREFINING PROJECT STAGE GATES, PROBABILITIES, AND TIMELINE BIOREFINING PROJECT OPPORTUNITY LIFECYCLE Active Engagements with Positive Technoeconomic (“TEA”) Results Early-Stage Engineering Advanced Engineering Construction Operating 50-60% 70-80% 80-90% ~100% Probability of Stage Advancement ~1
Slide 16: Pipeline Drives Continued Growth Into 2024 and Beyond
16 PIPELINE DRIVES CONTINUED GROWTH INTO 2024 AND BEYOND 2024 2025 Advanced Engineering -Basic Engineering Package “BEPs” 12-15 15-20 • There are currently +80 projects in early-stage development, which feed into the 2024 and 2025 BEP projections shown below 2023 BIOREFINIG PIPELINE POSITIONS LANZAT
Slide 17: Appendix: Additional Financial Information
APPENDIX: ADDITIONAL FINANCIAL INFORMATION Nasdaq: LNZA
Slide 18: Result of Operations – Three and Six Months Ended June 30, 2023
18 RESULT OF OPERATIONS – THREE AND SIX MONTHS ENDED JUNE 30, 2023
Slide 19: Reconciliation of Net Loss to Adjusted EBITDA
19 RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA