Slide 1: Fourth Quarter 2021 Earnings Call
Fourth Quarter 2021 Earnings Call The world’s leading carbon negative materials company February 24, 2022
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 2021 highlights
Q4 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 more than quintupled to $5.6Bn
Origin customer demand has more than quintupled to $5.6Bn since February announcement to go public Total demand is $5.6Bn in either offtake agreements or capacity reservations1 Customer Demand, $Bn cumulative Select Origin Customers & Partners ~$5.6Bn ~$1.4Bn Additional Demand Since Q3 Earnings ~$4.
Slide 5: Mitsui Partnership
Mitsui Partnership “Origin Materials and Mitsui Form Strategic Partnership to Industrialize Advanced Carbon- Negative Chemicals and Materials” – January 10, 2022 • Mitsui & Co., Ltd., a global leader in energy, machinery, chemicals, food, textile, logistics, finance, and more, signed a multi-year ca
Slide 6: Minafin Partnership
Minafin Partnership • Belgium headquartered Minafin Group is a leading developer and manufacturer of fine chemicals with three main areas of expertise: health chemistry, green chemistry, and challenging chemistry • Origin + Green Chemistry Division of the Minafin Group collaboration aims to bring co
Slide 7: Origin 1 and Origin 2 construction budget and timeline on track
Origin 1 and Origin 2 construction budget and timeline on track Maintain previous outlook on • Origin maintains that the previously disclosed Origin 1 and Origin 2 capital budgets and construction expected capital budget and timelines are on track • Capital budgets continue to include contingencies
Slide 8: Construction – Origin 1 update (1 of 4)
Construction – Origin 1 update (1 of 4) The ENCON evaporator module system was placed and bolted three months ahead of the schedule announced in April 2021 ENCON evaporator module offload ENCON module system placed 8
Slide 9: Construction – Origin 1 update (2 of 4)
Construction – Origin 1 update (2 of 4) The ENCON evaporator module system was placed and bolted three months ahead of the schedule announced in April 2021 ENCON tanks being offloaded and placed 9
Slide 10: Construction – Origin 1 update (3 of 4)
Construction – Origin 1 update (3 of 4) Piping fabrication began earlier this year, nearly six months ahead of the schedule announced in April 2021 Steel delivery for piping modules Piping delivery (approx. 12,000 linear feet of pipe) Small bore carbon steel piping (<3”) Small bore carbon steel pipi
Slide 11: Construction – Origin 1 update (4 of 4)
Construction – Origin 1 update (4 of 4) Origin 1 is on track for completion by the end of 2022 11
Slide 12: Construction – Origin 2 update (1 of 3)
Construction – Origin 2 update (1 of 3) “Origin Materials Announces Geismar, Louisiana as Location for Second Manufacturing Plant, Origin 2” – February 16, 2022 • The company has selected a site in Geismar, Louisiana, for the construction of its first world-scale manufacturing facility, Origin 2, su
Slide 13: Construction – Origin 2 update (2 of 3)
Construction – Origin 2 update (2 of 3) “Origin Materials Announces Geismar, Louisiana as Location for Second Manufacturing Plant, Origin 2” – February 16, 2022 • The local industrial cluster offers access to reliable utilities, including hydrogen pipelines, ethylene pipelines, valuable inorganic sp
Slide 14: Construction – Origin 2 update (3 of 3)
Construction – Origin 2 update (3 of 3) Origin has selected Hunt, Guillot & Associates as its owner’s engineer for Origin 2 • The owner’s engineer will provide full-service engineering to support and augment Origin in all phases of the project, from early design to construction, logistics, planning,
Slide 15: 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 16: 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 17: Project Development schedule – Origin 2
Construction schedule – Origin 2 2021 2022 2023 2024 2025 Site Screening Recent accomplishments / status Site Selection ‒ Selected site in Geismar, Louisiana, subject to finalization of Project Development economic incentives DONE Site Evaluation ‒ Selected Hunt, Guillot & Associates as owner’s en
Slide 18: Key financials in-line with previous outlook
Key financials in-line with previous outlook • With ramp up of employee hiring and operations in support of construction, product development and Financial operating metrics sales activities, Q4 2021 Adjusted EBITDA loss was $6.6 million compared to a loss of $3.8 million in the for Q4 2021 are in-l
Slide 19: Appendix
Appendix
Slide 20: Long-term target operating model
Long-term target operating model Origin Plant 1 Origin Plant 2 Origin Plant 3-7 Average Illustrative Run-Rate Economics Mn lb. biomass input 49 2,205 2,205 Mn lb. products sold 146 2,412 1,313 CapEx ($Mn) $701 $1,072 $811 ROIC (Adj. plant margin/CapEx) NM 35.9% 51.1% $Mn $/lb. product $Mn $/lb. prod
Slide 21: Share count as of 12/31/2021
Share count as of 12/31/2021 Class Outstanding Shares of Common Stock Total Shares Outstanding1 136,801,569 Shares subject to forfeiture1 4,500,000 Total Shares Outstanding, including Shares subject to forfeiture1 141,301,569 Shares Reserved for Future Issuance Pursuant to Potential Earnouts, Outsta
Slide 22: 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 23: The world’s leading carbon negative materials company
The world’s leading carbon negative materials company