Slide 1: Third Quarter 2021 Earnings Call
Third Quarter 2021 Earnings Call The world’s leading carbon negative materials company November 11, 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: Q3 2021 highlights
Q3 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 customer demand has quadrupled to $4.2Bn since February announcement to go public
Origin customer demand has quadrupled to $4.2Bn since February announcement to go public Total demand is $4.2Bn in either offtake agreements or capacity reservations1 Customer Demand, $Bn cumulative Select Origin Customers & Partners ~$4.2Bn ~$0.7Bn Additional Demand Since Q2 ~$3.5Bn Earnings Call ~
Slide 5: Kolon Industries Partnership
Kolon Industries Partnership “Origin Materials and Kolon Form Strategic Partnership to Industrialize Advanced Carbon- Negative Chemicals and Materials” – November 8, 2021 • Kolon Industries, a global leader in chemicals and materials, signed a multi-year capacity reservation agreement to purchase su
Slide 6: Origin 1 and Origin 2 construction budget and timeline on track
Origin 1 and Origin 2 construction budget and timeline on track • Since selecting Worley Limited as an engineering partner in Q3 2021, Origin has updated its original payment schedule for Origin 1 after incorporating detailed feedback from equipment suppliers and Reaffirm previous outlook contractor
Slide 7: Construction – Origin 1 update (1 of 6)
Construction – Origin 1 update (1 of 6) Module installation milestone achieved ahead of schedule Lifting and installation of 17 previously fabricated key production equipment modules was completed in October 2021, 6 months ahead of schedule as announced in April 2021. Origin 1 expected to complete b
Slide 8: Construction – Origin 1 update (2 of 6)
Construction – Origin 1 update (2 of 6) Additional construction – Tank farm area October 13th, 2021 (Water, Vegetation and Mud Removed, July 20th, 2021 Backfilled, and Concrete Slab and Walls Poured) Future: Tank Farm 3-D Model Future: 3-D Model Hologram Projection of Tank Farm 8
Slide 9: Construction – Origin 1 update (3 of 6)
Construction – Origin 1 update (3 of 6) Additional construction – Process building foundation pour (process building will house horizontal modules) July 22nd, 2021 (Foundation Perimeter Poured, Rebar Installed) October 29th, 2021 (Foundation Concrete Slab Poured, Horizontal Core Process Modules Inst
Slide 10: Construction – Origin 1 update (4 of 6)
Construction – Origin 1 update (4 of 6) Module installation milestone achieved ahead of schedule Module lift showing 500-ton main crane and 150-ton tailing crane. 10
Slide 11: Construction – Origin 1 update (5 of 6)
Construction – Origin 1 update (5 of 6) Module installation milestone achieved ahead of schedule Module, held by crane, being lowered onto foundation. 11
Slide 12: Construction – Origin 1 update (6 of 6)
Construction – Origin 1 update (6 of 6) Module installation milestone achieved ahead of schedule All 17 core process modules installed successfully, 6 months ahead of schedule announced in April 2021. 12
Slide 13: 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 (achieved vs updated vs original) Construction & Site Selection Fabrication Start Mechanically Complete Origin
Slide 14: Operations 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 products and applications other than PET 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022
Slide 15: Project Development schedule – Origin 2
Construction schedule – Origin 2 2021 2022 2023 2024 2025 Site Screening Recent accomplishments / status Site Selection ‒ Site selection: Narrowed to 3 potential sites Project Development ‒ Selected Worley as FEL1 Engineering Partner Site Evaluation Objectives – by end of Q4 2021 ‒ Site selectio
Slide 16: Key financials in-line with previous outlook; payment schedule updated
Key financials in-line with previous outlook; payment schedule updated • With ramp up of employee hiring and operations in support of construction, product Financial operating metrics development and sales activities, Q3 2021 Adjusted EBITDA loss was $5.7 million compared for Q3 2021 are in-line wit
Slide 17: Appendix
Appendix
Slide 18: Long-term target operating model
Long-term target operating model Origin Plant 1 Origin Plant 2 Origin Plant 3-7 Average Illustrative Run-Rate Economics Mn lb. biomass input 49 2,205 2,205 Mn lb. products sold 146 2,412 1,313 CapEx ($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 as of 9/30/2021
Share count as of 9/30/2021 Class Outstanding Shares of Common Stock Total Shares Outstanding1 136,754,685 Shares subject to forfeiture1 4,500,000 Total Shares Outstanding, including Shares subject to forfeiture1 141,254,685 Shares Reserved for Future Issuance Pursuant to Potential Earnouts, Outstan
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