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HIGHLIGHTS FROM BENSON HILL'S INVESTOR DAY, ANNOUNCES PARTNERSHIP WITH KELLOGG
Source: Benson Hill news release

ST. LOUIS, MO - Benson Hill, Inc. (NYSE: BHIL, the "Company" or "Benson Hill"), a food tech company unlocking the natural genetic diversity of plants, will host its 2022 Investor Day today to demonstrate how its unique innovations can meet the growing demand for plant-based ingredients in food, animal nutrition, and edible oil markets.

The in-person event at Benson Hill's headquarters in St. Louis, Missouri includes presentations, tours, exhibits, and discussions with Matt Crisp, Chief Executive Officer, Dean Freeman, Chief Financial Officer, Jason Bull, Chief Technology Officer, and other members of leadership in an insightful and engaging format to highlight Benson Hill's growth strategy, sustainable business model, and financial outlook.

"Benson Hill's recent accomplishments have set the stage for an exciting future as a leading integrated food technology company," said Matt Crisp Chief Executive Officer of Benson Hill. "We have a remarkable opportunity ahead of us to leverage the natural genetic potential of plants to create food options that are more nutritious, sustainably produced, and affordable. Our vision is food made better from the beginning, which we are realizing today through the commercialization of our proprietary ingredient portfolio.

By leveraging CropOS®, our dedicated team has also developed an innovative product pipeline that gives us confidence we are on track to help set the pace of innovation in food for years to come. We believe we have the right technology, products, people, and purpose to be a leader across multiple attractive market categories and, in the process, generate significant shareholder value."

At today's event, Benson Hill will highlight its:

*Technology advantage: The Company will provide an overview of its competitive advantages with its existing portfolio of soy-based products and will unveil plans to strengthen Benson Hill's competitive position with a robust and innovative pipeline of new ingredient products in soy and yellow pea over the coming years.

*Business execution: Led by Bruce Bennett, Benson Hill's President of its Ingredients Business segment, the Ingredients operations and commercial teams are executing a strategy focused on market share growth with a portfolio of proprietary soy ingredients in the food, oil, and aquaculture markets. The value proposition of elevated protein levels and sustainability benefits in its Ultra-High

Protein soy products recently led to the establishment of partnerships with Kellogg's MorningStar Farms® brand, a leading brand of plant-based foods, as well as Denofa, a leading protein producer for Northern European animal feed markets.

Novel Supply Chain Sustainability Benefits: The Company will feature its CleanCRUSH™ ingredients that seamlessly enable novel sustainability benefits within CPG supply chains. CleanCRUSH™ ingredients derived from Benson Hill's Ultra-High Protein soybeans reduce the need for costly energy- and water-intensive processing steps traditionally required for many plant-based consumer products as well as aquaculture feed.

*Targets for Revenue Growth, Gross Margin Expansion, and Profitability in 2025: The Company expects the execution of the planned expansion of its proprietary soy ingredient portfolio to result in positive EBITDA and free cash flow1 in 2025. Underpinning the expected achievement of this milestone are consolidated revenues anticipated to be greater than $500 million, with proprietary revenues within the Ingredients segment above $350 million, and expected consolidated gross margins in excess of 25 percent.

*Commitment to effective capital allocation and a strong balance sheet: Management believes the Company is on solid financial footing with cash on hand to fund the execution of the business plan into 2024, through multiple value inflection points.

About Benson Hill

Benson Hill moves food forward with the CropOS® platform, a cutting-edge food innovation engine that combines data science and machine learning with biology and genetics. Benson Hill empowers innovators to unlock nature's genetic diversity from plant to plate, with the purpose of creating nutritious, great-tasting food and ingredient options that are both widely accessible and sustainable. More information can be found at bensonhill.com or on Twitter at @bensonhillinc.


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