Slide 1: Second Quarter 2022 Earnings Call
Second Quarter 2022 Earnings Call The world’s leading carbon negative materials company August 3, 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: Q2 2022 highlights
Q2 2022 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 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: Origin customer demand has increased more than eightfold to $8.1Bn
Origin customer demand has increased more than eightfold to $8.1Bn since February 2021 announcement to go public Total demand is $8.1Bn in either offtake agreements or capacity reservations1 Customer Demand, $Bn cumulative2 Select Origin Customers & Partners ~$8.1Bn ~$7.4Bn ~$5.6Bn ~$4.2Bn ~$3.5Bn ~
Slide 6: Kuraray Partnership
Kuraray Partnership “Origin Materials and Kuraray Announce Carbon Negative Materials Partnership ” – June 16, 2022 • Kuraray, a global Japanese specialty chemicals company and one of the largest suppliers of industrial polymers and synthetic microfibers, signed a multi-year capacity reservation agre
Slide 7: Revlon Initiative
Revlon Initiative “Origin Materials and Revlon Announce Initiative to Develop Next-Generation Sustainable Packaging for Cosmetics” – July 20, 2022 • Revlon, a leading global authority and beauty trendsetter in the world of color cosmetics and hair care, signed a memorandum of understanding to reserv
Slide 8: Intertex Partnership
Intertex Partnership “Origin Materials and Intertex Announce Partnership to Produce 100% Bio-Content Carbon Black for Rubber Compounding” – July 25, 2022 • Intertex World Resources, a leading value-added distributor of synthetic rubber, signed an offtake agreement to purchase sustainable carbon nega
Slide 9: ATC Plastics Partnership
ATC Plastics Partnership “Origin Materials and ATC Plastics Announce Partnership to Bring 100% Bio-Content Carbon Black to the Plastics Industry” – July 27, 2022 • ATC Plastics, a leading global manufacturer of black color concentrates, agreed to purchase sustainable carbon-negative carbon black fro
Slide 10: Recent regulatory developments expected to increase demand for Origin's renewable products
Recent regulatory developments expected to increase demand for Origin’s renewable products • In June 2022, California passed a new law requiring sellers, importers, and distributors of certain plastic covered materials to join Producer Responsibility Organization (“PRO”) • PRO members are charged fe
Slide 11: Origin wins EPA climate change award
Origin wins EPA climate change award “Origin Materials Wins EPA Green Chemistry Challenge Award for 2022 in Partnership with University of California, Davis” – June 7, 2022 • Origin Materials and Professor Mark Mascal of the University of California, Davis won the prestigious Green Chemistry Challen
Slide 12: Origin 1 & Origin 2 construction timeline and budget unchanged
Origin 1 & Origin 2 construction timeline and budget unchanged • Origin maintains that the previously disclosed Origin 1 construction timeline is on track, with mechanical completion expected by the end of 2022 • The Company maintains its previously disclosed capital budget for Origin 1 of $125 mill
Slide 13: Construction – Origin 1 update (1 of 5)
Construction – Origin 1 update (1 of 5) Piping modules delivered and installed Piping modules have been interconnected alongside the plant’s key production modules. They will move chemicals and materials through Origin’s core chemical process 13
Slide 14: Construction – Origin 1 update (2 of 5)
Construction – Origin 1 update (2 of 5) HTC building construction started and HTC separation filter press delivered and placed HTC is one of Origin’s platform products with a wide range of applications including carbon black. Carbon black is used in belts and hoses, mechanical rubber goods, tires, p
Slide 15: Construction – Origin 1 update (3 of 5)
Construction – Origin 1 update (3 of 5) Additional major equipment delivery – storage tanks Storage tanks will contain solvent used and recycled in Origin’s core chemical process 15
Slide 16: Construction – Origin 1 update (4 of 5)
Construction – Origin 1 update (4 of 5) Biomass building under construction The biomass building will store sustainable wood residues entering the plant prior to processing and conveying to the reactor system 16
Slide 17: Construction – Origin 1 update (5 of 5)
Construction – Origin 1 update (5 of 5) Origin 1 is on track for completion by the end of 2022 “Before”: Q1 2022 photograph “After”: Clockwise from top we see the biomass building, HTC building and filter press, solvent tanks, piping modules 17
Slide 18: 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 19: 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 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023 to qualify products and applications other
Slide 20: Construction 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 21: Q2 2022 financials in-line with previous outlook
Q2 2022 financials in-line with previous outlook Financial operating metrics for • With ramp up of employee hiring and operations in support of construction, product development and sales activities, Q2 2022 Adjusted EBITDA loss was $6.9 million compared to a loss of $3.0 million in the prior-year p
Slide 22: Appendix
Appendix
Slide 23: Share count as of 6/30/2022
Share count as of 6/30/2022 Class Outstanding Shares of Common Stock Total Shares Outstanding1 137,878,934 Shares subject to forfeiture1 4,500,000 Total Shares Outstanding, including Shares subject to forfeiture1 142,378,934 Shares Reserved for Future Issuance Pursuant to Potential Earnouts, Outstan
Slide 24: 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 25: The world's leading carbon negative materials company
The world’s leading carbon negative materials company