Origin Materials, Inc.

We will begin on slide three. We continue to execute on our plan and make progress on our mission to enable the world's transition to sustainable materials. First, customer demand remains strong and broad-based, with offtake and capacity reservations exceeding $9.3 billion. As of February 2023, our commercial strategy has evolved from demand generation to revenue generation and the development of higher margin products. As such, we do not plan to provide quarterly updates to our total signed offtake agreements and capacity agreements going forward, but we'll provide updates as appropriate. We are also pleased to announce that we are reporting our first revenue this quarter generated by joint development agreements and our supply chain activation program. Our supply chain activation program is the set of activities we engage in to develop our commercial and logistical capabilities for delivering product and to establish relationships with vendors and customers across the supply chain. Second, as announced in January, Origin 1 is mechanically complete and commissioning is underway, with the completion of plant commissioning and startup expected in Q2 2023. Third, we continue to make progress on the front end design, construction planning, and financing of Origin 2. We continue to expect that Origin 2 can be fully funded from a combination of existing cash on hand, previously indicated traditional project financing, and potential strategic partnerships. We plan to provide an update on new product offerings and construction plans for the Origin 2 plant in August 2023, during our Q2 earnings call. And finally, we are maintaining 2023 guidance for revenue of $40 million to $60 million and adjusted EBITDA loss of $50 million to $60 million. We continue to see strong, favorable tailwinds for our technology and business model. Turning to slide five, the Inflation Reduction Act, or IRA, is expected to provide approximately $369 billion in direct investment related to climate solutions. Origin is actively exploring several IRA-funded programs, including the Department of Energy's Advanced Industrial Facilities Deployment Program, or AIFD, which we expect to hear results from by the end of the year, and the Section 48C Advanced Manufacturing Tax Credit. We remain optimistic these programs could provide meaningful support for the construction of Origin's plants. Finally, in March, the Biden administration released a report titled Bold Goals for U.S. Biotechnology and Biomanufacturing. The report's stated objectives include both climate and supply chain related directives that we believe could create positive momentum for Origin in securing additional funding and deploying our platform. Turning to slide seven, in early May, we were thrilled to announce a strategic partnership with Indorama Ventures Public Company Limited. For those not familiar with Indorama, they're one of the world's leading petrochemicals producers and the world's largest producer of virgin and recycled PET resins. With about 26,000 employees worldwide, and close to 19 billion in 2022 sales. This is a highly strategic relationship for Origin as Indorama Ventures has made meaningful pledges related to sustainability as part of its Vision 2030 plan, including commitments to invest $8 billion in recycled and bio-based plastics in pursuit of its goal of increasing the use of circuiter for bio-renewable feedstocks. Origin's technology could enable Indorama to enhance the value of its existing global petrochemical manufacturing footprint while supporting the company's Vision 2030 plan building on its industry leadership and sustainability. As part of the strategic partnership, we have signed a memorandum of understanding to explore initiatives related to the rapid commercialization of low-carbon bio-based materials. The initiatives include evaluating the use of existing Indorama units in the USA, with some modification to commercially produce bio-based materials. Under this arrangement, Indorama would convert derivatives of Origin's platform chemical, CMF, into various sustainable chemicals and bio-based plastics. Under the MOU, Indorama and Origin will also study the potential to use production samples of biobased materials in limited-volume product launches in partnership with high-profile brands. The materials are anticipated to be used in packaging, textiles, films, and automotive applications and could include biopet, biopta, the advanced biobased chemical FDCA, and copolyesters that have an advantage over traditional PET plastic. Turning to slide eight, in mid-April, we were excited to announce a strategic partnership with SCGP, a leading multinational consumer packaging solutions provider, to explore a licensing origin technology for use in an Asia-based manufacturing facility. The strategic partnership includes a joint development agreement between Origin and SCGP, whereby we aim to develop sustainable carbon-negative products from eucalyptus feedstocks provided by SCGP for applications in food packaging, logistics, automotive, and construction. As part of the JDA work, we have successfully processed and tested SEGP's eucalyptus feedstock at our West Sacramento, California pilot facility, confirming similar yields to other sustainable wood residues that we have evaluated. As a feedstock, eucalyptus offers several benefits, including rapid growth, adaptability to the diverse environments, and other properties useful for industry. Turning to slide nine, in late March, we were pleased to announce a strategic partnership with Tia Sung Advanced Materials Corporation. a Korea-based industrial materials company to industrialize sustainable high-value specialty materials for use in a wide range of end markets and applications, including batteries, automotive, and apparel. As part of the partnership, Hyesung signed a multi-year capacity reservation agreement to purchase sustainable carbon-negative materials from Origin, including PET and a hybrid polymer PETF, which is a blend of PET and FDCA for use in power cord applications, as well as HTC for use in battery materials, and puranic derivatives for use in spandex applications in the apparel industry. Turning to slide 10, in mid-April, Origin and the Green Chemistry Division of the Minifin Group, a global fine chemical company, announced a new commercial arrangement whereby Minifin will become Origin's manufacturing partner for the downstream supply chain of Origin 1. The initiative, which expands upon our previously announced strategic partnership with Minifin to industrialize sustainable chemicals, aims to further build on the strengths of Origin's patented technology platform and Minifin's manufacturing capability, process know-how, supply chain strength, and deep expertise in puranic specialty products. As part of the manufacturing initiative, CMF produced by Origin at Origin One will be delivered to Minifin, which will convert the CMF into downstream intermediates and products. The initiative is expected to position the company's complementary technologies to grow the value of the bio-based supply chain for high-value chemicals and materials, including bio-based PET.

In addition, this quarter we amended our existing agreement with PepsiCo.

We have increased the flexibility of the agreement by expanding the slate of products that may be supplied, as well as which plants may supply those products, with final volumes, product mix, and plants to be mutually agreed upon. To wrap up our commercial update, our sales pipeline remains strong. We continue to expand the breadth of industries and in markets that we serve and identify opportunities to direct our intermediates towards higher margin products. Turning to slide 11, in early April, we were thrilled to announce the appointments of Craig Rogerson and Tony Trippany to the Origin Board of Directors. They bring a wealth of experience in operations, strategy, corporate finance, and M&A to the company from leading world-class chemicals and material science companies, which will prove to be a tremendous benefit as we begin commercial production. Craig Rogerson has four decades of executive experience leading private and publicly held special chemical companies, having most recently served as chairman and president and CEO of Hexion Inc., a leading global producer of adhesives and performance materials that enable the production of engineered wood products and other specialty materials. Prior to being acquired for $1.9 billion in 2022 by American Securities, Hexion had over $2 billion in annual sales. Previously, Craig served as chairman, president, and CEO of Kim Chura Corporation, a global developer, manufacturer, and marketer of engineered industrial specialty chemicals. Prior to being acquired for $2.5 billion in 2017 by Lanxess AG, Kim Chura generated $1.7 billion in 2015 revenue. Tony Chippney brings over three decades of significant operational strategy and M&A experience. Extensive knowledge of the manufacturing, technology, and material science industries and a background in international corporate finance. He most recently served as director at Mesa Laboratories, a global leader in the design and manufacturing of life science tools and critical quality control products and services, many of which are sold into niche markets driven by regulatory requirements. Previously, Tony had a 36-year career with Corning, a global leading innovator in material science with more than $10 billion in annual revenue. where he had held various progressive leadership roles in corporate accounting and finance, including chief financial officer. Craig and Tony will be outstanding additions to our board of directors, and we are thrilled to welcome them. We would also like to thank Ben Odor, who resigned from the Origin board on May 8th and who was recently appointed CEO of VF Corp for his contributions during his tenure with Origin. With that, I would like to turn it over to John, who will discuss Origin 1, Origin 2, and product development.