The AeroFarms Opportunity

AeroFarms has Broken Ground on its Next Farm in Danville, VA Top retailer distribution centers within 300 miles of Danville, VA AERO FARMS Newark, NJ AERO FARMS Danville, VA BENEFITS OF DANVILLE, VIRGINIA: ■ Unmet market potential and proximity to key sales channels with at least 6 top retailer distribution centers within 250 miles Low operating costs with low energy rates and competitive, skilled workforce ■ R&D partnership opportunities with nearby universities with engineering and environmental sciences programs including Virginia Tech, Duke, UNC Chapel Hill, and Longwood University ■ Ready to develop site with reliable infrastructure and excellent access to utilities 2.5x market coverage¹ 50mm+ people within 1 day's drive² 1,000+ food retailers in the region <$0.06 kWh energy costs PROJECT TIMELINE Priority Market Selection Site Selection APRIL 2021 Financial Closing / Start of Construction AEROFARMS 14.0 million lbs (based on 77.5 clamshells per store per week) / 1.5 million lbs produced; 2 Defined as a 500 mile radius; Statista 2019 Population of US MSAs Q2 2022 ~ 12 months 豆 Start of Commercial Operations 28

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