The AeroFarms Opportunity

Future Farm Development Is Enabled by Current Performance of Core KPIs that Drive Unit Economics at Scale Core KPIs are shown below where 100% represents Model 5 farm design business plan¹ HARVEST YIELD Baby Leafy Greens Microgreens 100% 100% Harvest Yield measures how much useable plant mass we grow and 90% 97% 97% harvest per unit of area per unit of time vs. our long-term plan. 92% Data represents average of every individual grow unit harvested during the period; commonly, "champion" yields can exceed 125%+ of long-term target 103% 90% 96% 89% 80% 80% Last 12 Mo. Avg. Last 6 Mo. Avg. Last 3 Mo. Avg. Last 12 Mo. Avg. Last 6 Mo. Avg. Last 3 Mo. Avg. INI Baby Leafy Greens Microgreens PRICE PER LB. SOLD 110% Price per pound² measures our ability to 100% sell leafy greens product at target price points that support our long-term plan. 90% 101% 103% 102% Selling price consistently has achieved targets; our long-term plan is built on being price takers in established distribution channels, though we sell what we believe to be premium product 110% 100% 110% 111% 112% 90% 80% 80% Last 12 Mo. Avg. Last 6 Mo. Avg. Last 3 Mo. Avg. Last 12 Mo. Avg. Last 6 Mo. Avg. Last 3 Mo. Avg. OVERALL OPERATING EFFICIENCY Overall Operating Efficiency (OOE) measures two factors versus our long-term plan: utilization (are we operating our farms at targeted production capacity) and realization (are we selling what we grow [at target selling price]) AEROFARMS® 100% Farm Level (Baby Leafy Greens and Microgreens) 90% 91% 92% 100% of OOE target is expected to be achieved at future full-scale farms 90% 80% Last 12 Mo. Avg. Last 6 Mo. Avg. Last 3 Mo. Avg. 1 100% represents Model 5 Farm Design (technology deployable in 2021); historical monthly data is presented through December 2020; 2 Price per lb. is the price achieved within each channel applied to the projected channel mix of the Model 5 farm - we are achieving our target selling price within each channel, which is the key driver of future farm performance 33

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