Investor Presentaiton

1. Why is Nomura engaged in food and agriculture sustainability? Responding to increasing global food demand and environmental impact NOMURA Increase in global food demand (particularly meat) driven by population growth and development of emerging economies; Environmental impact remains a challenge (Protein crisis) To reduce environmental impact, alternative proteins are attracting attention Food supply outlook for 2050 Agriculture GHGs account for over 10 percent of total industrial emissions (100 million tons) 70 Approx. 1.5x Animal products, 13.98 60 460 50 Animal products, 8.65 Sugar crops, Industry, transport, 1.83 40 household 89% Agricultura land 4% 3220 Sugar crops, 1.69 Oil seeds, 5.92 Agriculture 11% Rice crop 1% Livestock, Oil seeds, 4.56 Grain, 36.44 10 Grain, 24.42 Increase due to feed dairy 5% Other 1% 2015 2050 Forecast Mainly meat Source: Compiled by NAPA based on IPCC Report, FAOSTAT production Water consumption (L) 25000 Stronger demand for meat driven by population growth and development of emerging economies Source: World Food Supply and Demand Projections to 2050, Ministry of Agriculture, Forestry and Fisheries, Japan Environmental impact per kilogram for each protein source Grain consumption (kg) GHG, 23.1 25 Water, 20,600 20 15 15 "} GHG 1/10 Water 1/20 GHG 1/100 Water 1/2000 20000 GHG, 7.8 10 Water, 5,900 15000 10000 Water, 4,500 5 GHG, 1.16 Water, 10 GHG, 0.231 GHG, 2.6 Water, 930 5000 0 0 Beef Pork Chicken Insect Vegetable Meat Higher demand for grain and water (Needed for meat production) Increased GHGs from livestock production Forest destruction Extensive use of chemical fertilizers Source: NAPA estimate based on "Plant-based meat raw materials and production process", Utsunomiya University, National Agriculture and Food Research Organization Copyright Nomura Agri Planning & Advisory Co., Ltd. All rights reserved 4

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