Cultured Meat Factories of the Future

FEBRUARY 2021

PIONEERING MEAT 2.0

We are developing the sustainable cultured meat factories of the future. These B2B factories target multi- species cell-based agriculture and 3D bioprinting to produce a range of cultured meat products, including steak.

DISCLAIMERS

This presentation was prepared Meat-Tech 3D Ltd. ("MeaTech" or reports filed in connection with the Company with the Israel the “Company”), and is given to you only for the provision of concise Securities Authority and the Tel Aviv Stock Exchange Ltd., including information for the sake of convenience, and may not be copied or warnings regarding forward-looking information, as defined in distributed to any other person. The data and information included the Securities Law, 5728-1968, included therein. The forward- in this presentation should not be interpreted as advice and should looking information in the presentation may not materialize, in not be relied on for any purpose. Such data and information should whole or in part, or may materialize differently than expected, or not be copied or used except as expressly permitted in writing. This may be affected by factors that cannot be assessed in advance. presentation does not purport to be comprehensive or to contain For the avoidance of doubt, it is clarified that the Company do not any and all information which might be relevant in connection undertake to update and/or modify the information included in with the making of a decision on an investment in securities of the presentation to reflect events and/or circumstances occurring the Company. No explicit or implicit representation or undertaking after the date of preparation of the presentation. This presentation is given by any person regarding the accuracy or integrity of is not an offer or invitation to buy or subscribe for any securities. any information included in this presentation. In particular, no This presentation and anything contained herein are not a basis for representation or undertaking is given regarding the realization or any contract or undertaking, and are not to be relied upon in such reasonableness of any forecasts regarding the future chances of the context. The information provided in the presentation is not a basis Company. To obtain a full picture of the activities of the Company for the making of any investment decision, nor a recommendation or and the risks entailed thereby, see the full immediate and periodic an opinion, nor a substitute for the discretion of a potential investor.

CONVENTIONAL - MEAT 1.0 RESOURCE-INTENSIVE INPUTS AND COSTLY ENVIRONMENTAL OUTPUTS

LAND & FEED EMISSIONS 33% of croplands 18% of atmospheric dedicated for greenhouse gases, animal feed in addition to effluent and runoff INPUTS OUTPUTS OUTPUTS

WATER RESOURCES MEAT PRODUCTS LIVESTOCK 8% of global In 2018, approximately freshwater supply 72 billion animals were dedicated to raising slaughtered

Source: Food and Agriculture Organization of the United Nations ; Our World in Data

CELLULAR AGRICULTURE - MEAT 2.0 RADICALLY MORE SUSTAINABLE: SLAUGHTER-FREE AND REDUCED EMISSIONS

STEM CELLS & MUSCLE CELLS CELL MEDIA Efficient use of Stem cells are cell media differentiated into muscle cells INPUTS OUTPUTS OUTPUTS

CLEAN ENERGY FAT CELLS FAT CELLS BIOREACTORS Stem cells are differentiated into fat cells

EXPECTED POSITIVE IMPACT ON SUSTAINABILITY

CONVENTIONAL FARMING COMPARED TO CULTURED MEAT PRODUCTION

WATER USE CO2 EMISSIONS LAND USE

CONVENTIONAL 2 MEAT (1KG) 16,000 LITERS 14 KG 160 M

CULTURED 2,500 LITERS 3 KG 1.6 M2 MEAT (1KG)

Source: CB Insights, Water Footprint Network, Business Insider, Forbes, Expert Interviews.

The above illustration depicts our current expectations for the development our technologies and processes.

SUSTAINABILITY: Cleaner, more recyclable inputs

MEAT 2.0 SUPPLY CHAIN: Shortened and simplified POTENTIAL ADVANTAGES FOOD SECURITY: Exponential and just-in-time production FOR THE MEAT INDUSTRY 2.0 PRODUCTS: New ingredients and product categories

CULTURED MEAT FORECAST THE FASTEST GROWING ALTERNATIVE PROTEIN SEGMENT % % % % % % % % %

CAGR: PLANT BASED

Source: A.T. Kearney analysis

CURRENT MEAT ALTERNATIVES LANDSCAPE PRODUCTS AND COMPETITORS

ORGANOLEPTIC PROPERTIES +

+ +

Nestle Cubiq Foods Mosa Meat Morning Star Peace Of Meat Memphis Meats Beyond Meat Eat Just Inc. Aleph Farms Impossible Foods FutureMeat Kellogg's SuperMeat TIME TO MARKET TODAY EMERGING NASCENT

CULTURED MEAT PRODUCTION COSTS EXPECTED TO FALL

CELL CULTURE MEDIA IS THE KEY COST DRIVER FOR CELLULAR AGRICULTURE

Cell culture media is the nutritional liquid cells require to grow and proliferate.

The price of cell media is projected to fall dramatically over the coming years.

This opens the route to cost parity with traditional meat production.

Source: The Good Food Institute

REGULATORY PROGRESS - CULTURED MEAT REGULATORS AROUND THE WORLD APPEAR TO BE TAKING A POSITIVE STANCE TOWARDS CULTURED MEAT

CHINA Positive announcements USA EU An initial formal agreement Requires ‘novel food’ and between the USDA and FDA food safety applications to oversee the production and labeling of cultured meat SINGAPORE Already approved cultured meat for sale in restaurants

Source: Sources: Congressional Research Service; Regulation (EU); Food Navigator Asia; Singapore Food Agency

MEATECH'SMEATECH'S B2B TECHNOLOGY PRODUCTION PROCESS

FACTORY OF THE FUTURE A VISION OF A MULTI-SPECIES, MULTI-PRODUCT, HIGH-VOLUME CULTURED MEAT PRODUCTION PLANT

The above illustration depicts our current expectations for the development our technologies and processes.

MEATECH’S CORE R&D

SCALING UP CELL-BASED PROTEIN PLANNED BIOREACTOR SYSTEMS & PROCESSES

Multi-species biomass production technologies: • Fat • Muscle

DEVELOPING HIGH THROUGHPUT 3D TISSUE ENGINEERING PLANNED TISSUE PRINTING & INCUBATION

• Scaffold materials • Bio-ink formulations • Software development

MEATECH’S CELL-BASED PROCESS VISION PRODUCING CULTURED FAT AND MUSCLE CELLS

FAT MUSCLE

CELL COLLECTION GROWING CELLS DIFFERENTIATING GROUND PRODUCTS CELLS Cell lines are Stem cells are transferred Upon reaching sufficient Unstructured cell-based developed to reliably to bioreactors for cell quantities, stem cells products (beef or chicken): express particular exponential growth under are differentiated into fat fat, ground, hybrid or characteristics. ideal conditions. and muscle cells. formed.

MEATECH'S CULTURED STEAK VISION A FLEXIBLE MANUFACTURING PROCESS FOR 3D PRINTED TISSUE

FAT MUSCLE

BIO-INKS 3D BIOPRINTING INCUBATION STRUCTURED MEAT Bio-inks formulated from Bio-inks are accurately Printed product is Produced in fraction our cell lines and unique printed to assemble cells incubated to mature and of time required to scaffolding materials are as they would be found form tissue. achieve same cut via loaded into our 3D in a conventional cut of conventional means. bioprinter. muscle.

TARGETING ALL CULTURED MEAT CATEGORIES

+ + ORGANOLEPTIC 3D PRINTED PROPERTIES CULTURED MEAT +

+ +

3d bioprinter

TIME TO MARKET

USE OF FUNDS: UPSCALING PATHWAY Manufacturing plant SCALING OUR TECHNOLOGY FROM THE LAB TO AN INDUSTRIAL PROCESS FOR LARGE-SCALE PRODUCTION OF MEAT 2.0 PRODUCTS

Key criteria are: • Capabilities of the cell line being used Pilot plant • Formulation of the cell-culturing media and reduction in costs • Management of the bioreactor hardware

In 2020, MeaTech employed lab-scale bioreactors to produce muscle and fat cells for experimental tissue bioprinting. Lab scale

MEATECH'S INTELLECTUAL PROPERTY

PATENT PORTFOLIO

Cultured Edible Meat Harvesting Bovine Fabrication Using Embryonic Inner Cell Mass Bioprinting

Physical Manipulation of Bioprinter Print Head Cultured Tissue

Growth Support For Cell Bovine Umbilical Cord Culture Stem Cells As Feeder Layer

ABOUTABOUT US US

OUR LEADERSHIP

SHARON FIMA OMRI SCHANIN STEVEN H. LAVIN GUY HEFER CEO & CO-FOUNDER COO & CO-FOUNDER CHAIRMAN CFO

Sharon is an entrepreneur with Omri is a co-Founder of MeaTech Mr. Lavin serves as Vice Chairman Guy has broad international business over 20 years of experience in and its astute COO focused on of OSI Group, LLC, a privately held experience with a successful track the printing industry. Sharon supporting cross-functional teams to company and a global supplier record of transaction generation and was a co-founder and the CTO see R&D achieve commercialization. of value-added food and meat execution. Prior to joining MeaTech of Nano Dimension (NNDM) and Omri has a successful history of products. Mr. Lavin is the President Guy was the CFO of a tech-focused spearheaded the development of entrepreneurship in a variety of of Lavin & Gedville, a boutique law holding company. Prior to that a complete desk-top 3D printing high-tech sectors, with excellent firm. Mr. Lavin is director, general Guy was an investment banker for system for multilayer PCBs. Prior leadership, organizational skills, counsel and advisor to Germin8 Leumi bank in Israel and Barclays to NNDM, Sharon was the R&D and strategic planning. Omri is an Ventures, LLC, and co-founder and investment Banking Division in Israel Integration manager at XJet and accomplished Israel Defense Forces director of Silver Road Capital, Ltd., and in the UK. Guy holds a BA in an R&D team leader at HP Indigo. Deputy Naval Commander of a a financial and consulting firm. Accounting & Economics from Tel missile ship. Aviv University.

OUR ADVISORS

AMB. DANNY AYALON PROF. SHLOMO MAGDASSI PROF. TAL DVIR DIRECTOR CHEMISTRY BIOLOGY

Former Israeli Ambassador to the Prof. Shlomo Magdassi is a Professor Prof. Dvir obtained his degrees United States and Deputy Minister of Chemistry, at the Casali Center in Biotechnology Engineering of Foreign Affairs, Member of for Applied Chemistry, the Institute from Ben-Gurion University of Knesset and advisor to three prime of Chemistry and the Center for the Negev in Israel. Prof. Dvir ministers. Co-founder and Chairman Nanoscience and Nanotechnology continued his postdoctoral studies of Silver Road Capital Ltd. at the Hebrew University of in the laboratory of Prof. Robert Jerusalem, Israel. Prof. Magdassi Langer in the Department of holds the Enrique Berman Chair in Chemical Engineering at MIT. Solar Energy. His research focuses Prof. Dvir was recruited by the on colloid science, particularly on Department of Biotechnology and the formation, formulation, and the center for Nanotechnology of application of novel micro and Tel Aviv University to establish the nanoparticles. Laboratory for Tissue Engineering and Regenerative Medicine.

MEATECH GROUP TARGETING A BROAD RANGE OF CELL TYPES AND CULTURED PRODUCTS THROUGH R&D AND ACQUISITIONS

MEATECH GROUP SPECIES COMPANY TYPE CURRENT STRATEGY FOR THE FACTORY OF THE FUTURE

MAMMALIAN

FAT MUSCLE HYBRID GROUND PROCESSED STRUCTURED CELLS CELLS PRODUCTS MEAT MEAT 3D PRINTED

AVIAN A MeaTech company FAT MUSCLE HYBRID GROUND PROCESSED STRUCTURED *acquired Feb 2020 CELLS CELLS PRODUCTS MEAT MEAT 3D PRINTED

Exploring potential AQUACULTURE avenues for expansion

*Under consideration Other Species: Lamb, Pork Ecosystem technologies: Growth Factor Development & Growth Factor Production

A YEAR OF TRIUMPH MEATECH’S ACHIEVEMENTS OVER THE LAST TWELVE MONTHS

2020 (JAN-MAR) Development and completion of initial bioreactor system

2020 (APR-JUN) Successful differentiation of stem cells to fat cells

$2.53M investment by to nine institutional investors

$1M investment; Mr. Steve H. Lavin appointed Chairman

2020 JULY Successful development of lower cost growth medium

First printing of uniform meat tissue Project ‘Carpaccio’

2020 (AUG-SEP)

$6M investment led by Rami Levi & Adom Group and 11 institutional investors

Successful differentiation of stem cells to muscle cells 2020 (OCT-DEC) MeaTech agrees to acquire cultured fat pioneer ‘Peace of Meat’

Bioprinting cultured beef fat structure

$7.2M investment led by Psagot Pension Funds

B2B BUSINESS MODEL

REVENUE STREAMS SUPPORT SERVICE REVENUES

MEATECH OFFERING

LICENSED MEATECH FOOD MEATECH: PRODUCTION TECHNOLOGY ENGINEERING FACILITIES SERVICES BUILD & SERVICE

CELL TISSUE PRODUCTION ENGINEERING

MEATECH MANUFACTURING FACILITIES

SUMMARY

• A large rapidly growing alternative protein market

• World class R&D team and scientific advisors

• Technology leader in cultured fat production & 3D bioprinting of meat

• A B2B business model targeting rapid commercialization

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No Animals Were Harmed in the Making of This Slide deck