AeroFarms SPAC Presentation Deck

Farm Unit Economics Summary The Model 5 Farm Design represents AeroFarms' technology that will be deployed in early 2021. Over time, modest performance improvements are modeled for future farm generations, namely the Model 6/7 Farm Designs. Each farm design is modeled to include the modest performance gains described below: Key Assumptions¹ Total Project Capital (reduces by 10% each model) Annual Revenue (increases by 10% each model) Gross Profit (COGS decreases by 10% each model) EBITDA² Unlevered IRR2,3 AEROFARMS MODEL 5 (Current) $52 million $25 million $8 million / 32% $9 million / 34% ~15% MODEL 6 (March 2022) $47 million $28 million $12 million / 42% $12 million / 42% ~22% MODEL 7 (September 2023) $43 million $31 million $16 million / 51% $15 million / 49% ~31% Description Includes working capital and tenant improvements but excludes leased real estate Levers for increase: yield, product mix, price Includes depreciation of fixed assets Includes corporate SG&A allocation Unlevered farm return, with corporate SG&A allocation ¹ Represents 48-grow tower farm economics for each Model 5/6/7. Business plan includes farms of 48 grow towers and large farms of 144 grow towers, sequenced in a rollout of Model 5 farms (financial close beginning March 2021), Model 6 farms (March 2022), and Model 7 farms (September 2023). Models 6 farm reflects modest performance improvements (10%) in the following areas, relative to Model 5: revenue, COGS excl. rent and depreciation, capex incl. tenant improvements; the Model 7 farm represents a further 10% improvement vs. Model 6, at farm stabilization ²Assumes illustrative SG&A allocation to support farm operations; the AeroFarms projections on the following slide carry this SG&A allocation and additional corporate SG&A 3 Projected 20-year unlevered IRR of the farm Source: Management 34

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