AeroFarms SPAC Presentation Deck

Future Farm Development Is Enabled by Demonstrated Performance of Core KPIs that Drive Unit Economics at Scale Core KPIs tracked at Model 4 farm (Newark commercial farm) are shown where 100% represents 100% of business plan target for a Model 5 farm¹ HARVEST YIELD Harvest yield measures how much plant weight is grown and harvested for products per unit of area per unit of time vs. long-term plan PRICE PER LB. SOLD Price per pound² measures ability to sell leafy greens product at target prices that support long-term plan OVERALL OPERATING EFFICIENCY Overall Operating Efficiency (OOE) measures two factors versus long-term plan: utilization (operating farms at targeted production capacity) and realization (selling what is grown) AEROFARMS 100% 50% 0% 100% 50% 0% 100% 50% 0% 91% Full Year 2020 103% Full Year 2020 91% Full Year 2020 97% 2H 2020 105% 2H 2020 92% 2H 2020 99% Q4 2020 105% Q4 2020 90% Q4 2020 Data represents average of every individual grow unit harvested during the period; commonly, "champion" yields can exceed 125%+ of long- term target Selling price consistently has achieved targets; AeroFarms' long- term plan is built on being price takers in established distribution channels, though it sells what it believes to be premium product 100% of OOE target is expected to be achieved at future full-scale farms ¹100% represents Model 5 Farm Design (estimate of technology deployable in 2021); historical monthly data is presented through December 2020; 2 Price per lb. is the price achieved by channel by product, applied to the projected product mix of the Model 5 farm - AeroFarms is achieving target selling price within each channel, which is the key driver of future farm performance 51

View entire presentation