Investor Presentaiton

October 12, 2021 MARKET DYNAMICS: KEY PLAYERS AND FIGURES Global teak trade and the US$37 billion wood furniture market The end consumption of teak is hard to trace, as it tends to be imported to Asia, where it is either consumed locally (especially in India) or transformed and then sold globally. • • Per the ACIAR Study, India's local consumption tends to disregard the need for certification. Moreover, 10% of India's demand (ca. 130,000 m³) is destined to furniture production, an industry that is export heavy. Indian Teak Imports -USD million 600 400 333 . Vietnam and China jointly demand some 160,000 m³ of teak. Their demand is mostly focused on exporting furniture to developed markets that require certifications and could pay a premium for certified teak. 200 • Therefore, its more important to consider the end costumer than the country to which Proteak initially ships its teal. 0 2010 India: the largest teak consumer in the world . India's annual teak consumption: 1.3 million m³ • Annual imports: Approx. 1 million m3 (77% of total) • The value of imports peaked at US$550 million in 2012. Then, rupee depreciation and a decrease in purchases from Myanmar pushed the value of imports down to US$376 million in 2017. • The value of teak imports has recovered and stood at US$440 million for the fiscal year ended in February 2020. Moreover, it has remained steady in local currency terms since 2017. • LatAm teak has captured market share, going from 25% in 2012 to 55% for 2020. 40% Source: ACIAR 2015 Study India's Teak Consumption 10% 550 519 499 GBM 473 454 439 378 376 N.A. N.A. 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 Considers teak in the rough and sawn teak Source: ACIAR Study (2010-2012) and India's Ministry of Commerce (2015-2020) Share of Teak Imports by Region 0 10 20 30 40 50 60 70 80 90 100 2012 45% 35% Construction (industrial) 1.3 million m³ Doors & windows 2% 2020 55% Construction (household) Furniture 15% Myanmar ROW 30% 25% Share of Teak Imports by Region Source: ACIAR Study (2010-2012) and India's Ministry of Commerce (2015-2020) 44% LatAm TEAK: AFTER ALL, MONEY DOES GROW ON TREES. | 12

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