LanzaTech SPAC Presentation Deck

Projected Need to Fund Growth ($ in millions) 2022 Investment in carbon capture transformation plant rollout expected to accelerate growth 2023 2024 Adjusted EBITDA improvement, with positive full-year adjusted EBITDA expected to begin in 2024 2025 Continued strong adjusted EBITDA growth expected to drive significant positive free cash flow generation 2026 Significant increase in operating and net cash flow as business scales LanzaTech Cash Flow from Operations CFO (excl. Working Capital) Net A in Working Capital Total Cash Flow from Operations Cash Flow from Investing Purchases of Property Net Investment in Sponsored Projects Total Cash Flow from Investing Cash Flow from Financing Equity Contribution (Net)¹ Total Cash Flow from Financing Total A in Cash Ending Cash Balance Cash Flow Projections 2022E ($62) (15) ($77) ($8) 1 ($7) $220 $220 $136 $264 2023E ($32) (35) ($67) ($16) (7) ($23) $0 $0 ($90) $174 2024E $53 (30) $23 ($27) (33) ($60) $0 $0 ($37) $137 2025E $223 (74) $148 ($18) (43) ($60) $0 $0 $88 $226 2026E $404 (43) $361 ($16) 32 $16 $0 $0 $377 $602 Total $586 (198) $388 ($85) (49) ($134) $220 $220 $473 Source: LanzaTech management ¹ Assumes the $250mm minimum cash closing condition, and 2022E figure excludes $30mm attributable to ArcelorMittal Safe note investment in December 2021, which will convert (and be part of) PIPE proceeds. 41

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