Slide 1: First Quarter 2023 Earnings Call
First Quarter 2023 Earnings Call The world’s leading carbon negative materials company May 10, 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: Q1 2023 highlights
Q1 2023 highlights • Offtake and capacity reservation agreements exceed $9.3 billion1 • Indorama Ventures, the world’s largest producer of virgin and recycled PET resins, signed a memorandum of understanding (“MOU”) to explore initiatives related to the rapid commercialization of bio-based materials
Slide 4: 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 5: Inflation Reduction Act offers potential for incremental government incentives for plant construction
Inflation Reduction Act (“IRA”) offers potential for incremental government incentives for the construction of Origin’s plants Advanced Industrial Facilities Deployment Program (“AIFD”) expected to provide decisions at the end of the year • The IRA is expected to significantly expand the Section 48C
Slide 6: Origin customer demand exceeds $9.3Bn, a more than ninefold increase since announcement
Origin customer demand exceeds $9.3Bn, a more than ninefold increase since announcement to go public in February 2021 Total demand consists of offtake agreements or capacity reservations1 Customer Demand, $Bn cumulative2 Select Origin Customers & Partners Strategic evolution from demand generation t
Slide 7: Indorama Ventures Partnership
Indorama Ventures Partnership “Origin Materials and Indorama Ventures Announce a Strategic Partnership to Accelerate the Mass Production of Bio-Based Materials” – May 9, 2023 • Indorama Ventures and Origin signed a strategic MOU to explore initiatives related to the rapid commercialization of low-ca
Slide 8: SCGP Partnership
SCGP Partnership “Origin Materials and SCGP Announce Strategic Partnership in Innovation and Sustainability to Explore Licensing Origin Technology for ASEAN-Based Plant” AUTOMOTIVE – April 17, 2023 • SCG Packaging PLC (“SCGP”), a leading multinational consumer packaging solutions provider, signed a
Slide 9: Hyosung Partnership
Hyosung Partnership “Origin Materials and Hyosung Partner to Produce Batteries, Automotive Parts, and Apparel from Carbon-Negative Materials” – March 22, 2023 • Hyosung Advanced Materials, a Korea-based industrial materials company, signed a multi-year capacity reservation agreement to purchase sust
Slide 10: Minafin Expanded Relationship
Minafin Expanded Relationship CMF & derivatives3 “Origin Materials and Minafin Group Launch Manufacturing Initiative for Origin’s First Commercial Plant” – April 19, 2023 • Green Chemistry Division of Minafin Group, a global fine chemical company, to serve as high-value conversion and manufacturing
Slide 11: Origin announced two new appointments to Board of Directors
Origin announced two new appointments to Board of Directors Deep expertise in operations, strategy, corporate finance, and M&A across chemicals and materials science industries Craig Rogerson Tony Tripeny • Four decades of executive experience leading private and publicly held • Over three decades o
Slide 12: Origin 1 start-up expected in Q2 2023, in-line with prior guidance
Origin 1 start-up expected in Q2 2023, in-line with prior guidance Plant is mechanically complete with commissioning underway • Commercial-scale plant expected to enable customers to qualify products and applications beyond PET and HTC fuel pellets; higher value products ultimately to be produced an
Slide 13: Superior performance of Origin's carbon black derives from HTC and core process (1 of 2)
The superior performance of Origin’s carbon black derives from HTC and the proprietary core chemical process by which Origin creates it (1 of 2) HTC is derived from wood residues reacted in Origin’s core process Wood residue biopolymers1 Intermediates During conversion of biomass to HTC: “CMF” • Cel
Slide 14: Superior performance of Origin's carbon black derives from HTC and core process (2 of 2)
The superior performance of Origin’s carbon black derives from HTC and the proprietary core chemical process by which Origin creates it (2 of 2) Carbon black derived from Origin’s HTC is physically similar to fossil-based carbon black HTC primary particles (left) form as “grapelike” aggregates durin
Slide 15: Strong progress in carbon black development (1 of 2)
Origin is making strong progress in carbon black development with demonstrated superiority in performance and sustainability (1 of 2) “Origin Materials’ Sustainable Carbon Black Origin’s Carbon Black Blends Meet or Exceed Fossil-Based N660 Product Benefits Performance for Tires and Mechanical • Sust
Slide 16: Strong progress in carbon black development (2 of 2)
Origin is making strong progress in carbon black development with demonstrated superiority in performance and sustainability (2 of 2) “Origin Materials’ Sustainable Carbon Black Blends Meet or Exceed Fossil-Based N660 Stress vs Strain Curve – Origin Carbon Black Study Performance for Tires and Mecha
Slide 17: The Origin HTC leadership team has extensive technical, operational, and commercial expertise
The Origin HTC leadership team has extensive technical, operational, and commercial expertise, with 130+ years combined experience Bill Williams, PhD Ruairi O'Kane, PhD Ben Freireich, PhD Paul Dornath, PhD Director of Process Carbon Products Technical Fellow Staff Scientist Development – Technical D
Slide 18: Q1 2023 financials in-line with previous outlook
Q1 2023 financials in-line with previous outlook • Net income was $9.8 million for the first quarter compared to net income of $7.3 million in the prior-year Financial operating metrics period for Q1 2023 are in-line • With ramp up of employee hiring and operations in support of construction, produc
Slide 19: Appendix
Appendix
Slide 20: Share count as of 3/31/2023
Share count as of 3/31/2023 Class Outstanding Shares of Common Stock Total Shares Outstanding1 138,767,991 Shares subject to forfeiture1 4,500,000 Total Shares Outstanding, including Shares subject to forfeiture1 143,267,991 Shares Reserved for Future Issuance Pursuant to Potential Earnouts, Outstan
Slide 21: 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 22: The world's leading carbon negative materials company
The world’s leading carbon negative materials company