The AeroFarms Opportunity

Valuation Benchmarking FV / Revenue 2.6x FV / Revenue (Sustainable High-growth Food) 4.2x 1.5x AEROFARMS 2025 2026 FV / EBITDA 10.4x 4.4x AEROFARMS® 2025 2026 AEROFARMS® ☐ 6.0x 2.1x BEYOND MEAT freshpet A AppHarvest 2025 2025 2025 FV / EBITDA (Sustainable High-growth Food) FV/CY2022E (CY+1) Revenue (High-growth food & beverages) Overall Median: 5.9x 9.8x 8.0x 3.9x 2.4x При MUNSTER ENERGY Tattooed FEVER-TREE Chef FV/CY2022E (CY+1) EBITDA (High-growth food & beverages) Overall Median: 39.1x 43.0x 35.2x 27.7x 23.5x 22.4x 7.7x BEYOND MEAT freshpet AppHarvest 2025 2025 2025 Проце MONSTER ENERGY Source: FactSet and company filings as of May 14, 2021 Note: Companies sorted from high to low based on firm value; 1 Financials converted to USD, USD/GBP conversion rate of 1.409 as of May 14, 2021 Vital FARMS 46.4x FEVER-TREE Kattoned Chef Vital FARMS 37

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