Slide 1: 2Q 2026 Investor Presentation
2Q 2026 INVESTOR PRESENTATION Nasdaq: LNZA 2Q 2026 INVESTOR PRESENTATION August 14, 2026 ©2026 LanzaTech Inc. All rights reserved. 1
Slide 2: Disclaimer
LanzaTech 2026 DISCLAIMER 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 b
Slide 3: Q2 reflects a structural reset, not a pause
Q2 2026 TRANSFORMATION SNAPSHOT Q2 reflects a structural reset, not a pause REVENUE OPERATING EXPENSES ADJUSTED EBITDA LOSS $9.0M $11.7M $(7.6)M vs. $9.1M prior year down from $35.1M improved from $(29.7)M Broadly stable year over year Reset cost base and operating model Approximately $(15.5) M in f
Slide 4: Certification opens the door to EU regulated fuel markets
CERTIFICATION AS COMMERCIAL CATALYST Certification opens the door to EU regulated fuel markets Road transport fuels ISCC EU Sustainable aviation fuel CERTIFICATION Market access gateway Marine fuels UK-recognized regulated fuel markets Certification is expected to convert existing customer demand in
Slide 5: Embedded value across scaled platforms and projects
EMBEDDED VALUE AND PROJECT MILESTONES Embedded value across scaled platforms and projects Dragon Humber / Shougang LanzaTech FLITE BRIGHT / DTU North Sea Port, Ghent JV IPO LanzaJet partnership Site selected ~23M gallons 8.3% stake 46% ownership Next-generation ~$110M estimated retained Latest valua
Slide 6: One molecule, two routes to market
ETHANOL PLATFORM OPTIONALITY One molecule, two routes to market DIRECT USE Sold and used as ethanol - no new conversion assets CarbonSmart ethanol Road transport fuels Marine fuels products CARBON-SMART ETHANOL Feedstock-flexible platform molecule DOWNSTREAM PROCESSING Requires a conversion step bef
Slide 7: Revenue, gross margin & operating performance
$ in millions Revenue, gross margin & operating performance Quarterly and YTD Performance Metric Q2 2026 Q2 2025 Var. YTD 2026 YTD 2025 Var. Q2 Revenue Bridge: Q1 Actual vs. Q2 Actual [$m] 20 Revenue 9.0 9.1 (1.1%) 21.0 18.6 12.9% 9 18 Cost of 7.2 6.2 16.1% 15.5 13.7 13.1% 16 revenue 14 Gross 1.8 2.
Slide 8: Cost base & path toward sustainable operations
$ in millions Cost base & path toward sustainable operations Total Costs & Operating Expense Reduction: YTD 2025 to YTD 2026 Key Takeaways 180 TOTAL OPERATING EXPENSES – 160 81.9 40.6 YTD 2026 - $25.2m 140 -20.2 Down $41.3M 120 1.7 50% reduction vs. YTD 2025 -18.8 $1.7M / 6% favorable vs. budget -3.
Slide 9: Disciplined execution into the rest of 2026
2026 OUTLOOK AND EXECUTION PRIORITIES Disciplined execution into the rest of 2026 FULL YEAR 2026 GUIDANCE Revenue $50M - $55M Adjusted EBITDA loss $(22)M - $(26)M Operating expense $51M - $55M EXECUTION PRIORITIES Convert ethanol demand into Maintain cost discipline while 01 Complete certification m
Slide 10: Investor contact: LNZA@alpha-ir.com
Nasdaq: LNZA Investor contact: LNZA@alpha-ir.com Investor contact: LNZA@alpha-ir.com 10