Slide 1: Fourth Quarter 2022 Earnings Call
Fourth Quarter 2022 Earnings Call The world’s leading carbon negative materials company February 23, 2023
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: Q4 2022 highlights (1 of 2)
Q4 2022 highlights (1 of 2) Origin’s mission is to help drive the world’s transition to sustainable materials by providing 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 globa
Slide 4: Q4 2022 highlights (2 of 2)
Q4 2022 highlights (2 of 2) • Origin 2 has received final approval from Louisiana State Bond Commission and preliminary approval from Louisiana Public Finance Authority for the issuance of up to $1.5 billion of tax-exempt bonds, inclusive of previously Origin 2 receives financing announced expected
Slide 5: Origin Materials – At a Glance
O O Origin Materials – At a Glance H Cl The world’s leading carbon negative materials company Disruptive Materials Decarbonizing Platform Enormous TAM Cost advantaged Technology Company Technology C ~$1+ Trillion $390Bn near-term focus in Timber feedstocks are Origin produces low and Enables custome
Slide 6: Inflation Reduction Act offers potential for incremental government incentives
Inflation Reduction Act (“IRA”) offers potential for incremental government incentives for the construction of Origin's plants Program is expected to start receiving initial applications in March 2023, with decisions at the end of the year • The IRA is expected to significantly expand the Section 48
Slide 7: Origin customer demand has increased more than ninefold to $9.3Bn
Origin customer demand has increased more than ninefold to $9.3Bn since February 2021 announcement to go public Total demand is $9.3Bn in either offtake agreements or capacity reservations1 Customer Demand, $Bn cumulative2 Select Origin Customers & Partners Strategic evolution from demand generation
Slide 8: Origin 1 mechanically complete
Origin 1 mechanically complete Commissioning underway, with completion of commissioning and start-up expected in Q2 2023 • Commercial-scale plant expected to enable customers to qualify products and applications beyond PET and HTC fuel pellets; higher value products ultimately be produced and sold a
Slide 9: Construction schedule – Origin 1
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 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023 products and applications other
Slide 10: Origin 1 platform development
Origin 1 platform development Origin’s first plant will play a key application development role including exploring additional high-value products Strategic asset Intermediate streams Products being explored or qualified (JDAs, sample production) “CMF” Para-xylene Epoxies and FDCA Surfactants 5-Chlo
Slide 11: Origin 2 front-end design, construction planning, and financing progressing
Origin 2 front-end design, construction planning, and financing progressing, with update to be provided mid-2023 • Origin 2 has received final approval from Louisiana State Bond Commission and preliminary approval from Louisiana Public Finance Authority for the issuance of up to $1.5 billion of tax-
Slide 12: Construction schedule – Origin 2 Project Development
Construction schedule – Origin 2 Company expects to provide an update on new product offerings and construction plans in mid-2023 2021 2022 2023 2024 2025 Site Screening Recent accomplishments / status Site Selection ‒ Selected site in Geismar, Louisiana, subject to finalization of Project Develop
Slide 13: Origin is exploring biofuel production from an oils and extractives stream
Origin is exploring biofuel production from an “oils and extractives” stream co-produced with CMF and HTC and not included in previous plans Cellulose-derived biofuel for aviation, renewable diesel, and marine fuel • Biofuels market is $110 billion to $130 billion, Intermediate Streams Potential Bio
Slide 14: Origin and Avantium to accelerate mass production of FDCA and PEF
Origin and Avantium to accelerate mass production of FDCA and PEF for advanced chemicals and plastics Complementary technologies represent potential breakthrough in the commercialization of next-generation materials • Origin’s existing patented carbon-negative technology platform would convert wood
Slide 15: Construction schedule – Origin 1, Origin 2, and Origin 3
Construction schedule – Origin 1, Origin 2, and Origin 3 Company expects to provide an update on new product offerings and construction plans for the Origin 2 plant in mid-2023 2021 2022 2023 2024 2025 2026 2027 Origin 1 Onsite Construction & Origin 1 Operating Mechanical Completion Module Erection
Slide 16: Q4 2022 financials in-line with previous outlook
Q4 2022 financials in-line with previous outlook • Net income was $16.0 million for the fourth quarter compared to net income of $5.2 million in the prior-year Financial operating period. Full year 2022 net income was $78.6 million compared to $42.1 million in the prior-year period. metrics for Q4 2
Slide 17: Appendix
Appendix
Slide 18: Share count as of 12/31/2022
Share count as of 12/31/2022 Class Outstanding Shares of Common Stock Total Shares Outstanding1 138,534,225 Shares subject to forfeiture1 4,500,000 Total Shares Outstanding, including Shares subject to forfeiture1 143,034,225 Shares Reserved for Future Issuance Pursuant to Potential Earnouts, Outsta
Slide 19: 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 20: The world's leading carbon negative materials company
The world’s leading carbon negative materials company