AgroFresh SPAC Presentation Deck

Impact Can Be Minimal from AgroChemical Patent Expiry Common Themes Among Agro Chemicals that Faced Patent Expiries Below: Expertise, smaller market size, lower cost and customer familiarity. 38 PRODUCT Selected Fungicide #1 Selected Fungicide #2 Selected Insecticide #1 Sm 200 1 180 160 140 120 100 80 60 40 20 0 $m 3507 300 250 200 150 100 50 1993 1994 1995 $m 100 90 80- 70- 60- 50 40- 30- 20 10 0 SALES VOLUME 1996 1997 1998 1999 1993 1994 1995 1996 1997 1998 1996 1997 [666L Company A Fungicide #1 2000 2001 2002 2003 2004 2005 2002] 2006 2007 2008 2000] 2001] 2002 2003 2004 2005 2006 2007] 2008 Company B Insecticide 2004 2005 Patent Expiry #1 Total Fungicide #1 2007 2009 Γοιοτ Total Fungicide #2 Patent Expiry 2011] 2012 Company A Fungicide #2 2011 8888 Total #1 Insecticide Patent 2012 Expiry Source: Phillips McDougall Post Patent Analysis, February 2015. Note: Selected examples may not be indicative of impact of AgroFreshTM patent expiries. 2011 Γειοτ Γειοτ €/kg 60 50 40 30 20 10- سامر 0 $/kg 500 450 400 350- 300 250 200 150 100 50 0 Yen/kg 180000 1 179000 178000 177000- 176000 175000- 174000 173000 172000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 171000 170000 2005 2006 PRICING 2007 e 2008 Patent Expiry 2009 2010 Patent Expiry 2011 Fungicide #2 Price Fungicide #1 Price 2010 2011 2012 Patent Expiry 2011 Insecticide # 1 Price 2012 2012 Γειοτ 2013 2013 ● ● COMMENTARY Introduced in 1994 for use on fruits & vegetables and cereals Manufacturer retained ~92% of total sales post patent expiry (as of 2013) while maintaining pricing Introduced in 1994 for use on cereals, soybean, corn, potato, and vines Majority of sales achieved in seed treatment, a high service niche market similar to post-harvest Manufacturer retained ~98% of total sales post patent expiry (as of 2013) while maintaining pricing Introduced in 1996 for use on fruits & vegetables and in non-crop markets (pest control) Manufacturer retained -88% of total sales post patent expiry (as of 2013) while maintaining pricing AgroFresh™M

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