AeroFarms SPAC Presentation Deck

AeroFarms Financial Overview FARM COUNT¹ % growth of towers ■144 grow tower farms ■ 48 grow tower farms % margin 48 1 # of towers 2021 $(2) 2021 192 NM 2022 300% GROSS PROFIT ($mm) $(3) 2022 432 7 6 NM 2023 125% $11 2023 768 10 3 19% 7 2024 78% $57 2024 1,008 13 4 35% 9 2025 31% $137 2025 42% 1,248 16 5 1 New farms that are under construction or operating 11 2026 24% $264 2026 1,248 16 5 48% 11 Run Rate NM $423 Run Rate REVENUE ($mm) 51% % growth $4 2021 $(391 EBITDA ($mm) 2021 $13 2022 226% NM $(47) 2022 $54 NM 2023 305% $(49) 2023 $163 2024 NM 201% $(4) 2024 $330 NM 2025 102% $82 % margin Note: Business plan includes farms of 48 grow towers and large farms of 144 grow towers, sequenced in a rollout of Model 5 farms (current design for new farms), Model 6 farms (financial close beginning March 2022), and Model 7 farms (financial close beginning September 2023). "Farm Count" above represents cumulative new farms based on date of financial close. AeroFarms' consolidated projections carry farm-level SG&A allocation to support farm operations and additional corporate SG&A, including research and development. AEROFARMS 2025 $553 25% 2026 67% $193 2026 $825 35% Run Rate NM $332 Run Rate 40% 56

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