AeroFarms SPAC Presentation Deck
Achieving Model 6 and 7 Financial Performance
Model 6 Alpha Prototype in Newark has demonstrated sustained yields 26% above the Model 5 target, and peak
yields of more than 75% above the Model 5 target more than the gains that are needed to achieve future
modeled financial performance.
(millions)
Lb. Sold
Revenue
Total COGS
Gross Profit
% Gross Margin
EBITDA
% EBITDA Margin
Cash-on-cash Return¹
(Run-rate EBITDA / Total Project Capital)
Model 5
2.4
$25
($17)
$8
32%
$9
34%
-16%
Model 5 w/
+26% Yield
AEROFARMS AeroFarms portion of project capital not inclusive of leased building cost
3.0
$32
($19)
$13
42%
$13
41%
% Impact
-25%
+26%
+26%
+7%
+64%
+54%
Driven by leveraging of
fixed costs
(see next slide)
Model 6
-25%
Equivalent financial performance—measured by EBITDA and Cash-on-cash Return-
as the Model 6, which Aero Farms believes to be achievable through 26% yield gains
alone
$28
($16)
$12
42%
$12
42%
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