Investor Presentaiton

Global Expansion of Land-based Salmon Farms • . • • • Kuterra in Port McNeil pioneered viable land-based Atlantic Salmon sparked a decade of global development. Globally over 70 farms in various states of development Significant IPO activity for the leading companies, billions of dollars deployed 18 large scale farms of 10,000 Mtons scale are in construction 11 large scale and 9 small scale farms have delivered first harvests to market Grieg - recognizing the opportunity - joint investments in two 3000MT facilities Mowi and Leroy following too https://griegseafood.com/news/grieg-seafood-enters-joint-venture-for-post-smolt-and-land-based-salmon-farming- Investors have recognized Existing ocean farming practices have globally has reached "carrying capacity" because warming oceans, algal blooms and low dissolved oxygen are becoming increasing problematic Ideal global ocean farming locations are largely all allocated Social licence preventing net-pen expansion and actually forcing contraction in certain regions - Salmon farmers have realized that land-based farming provides a reliable "farmed environment" Alternative hybrid land/ocean and offshore farming technologies could also expand ocean farming British Columbia is missing this opportunity 2

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