AgTech & Sustainable Food Market Update Q2 2021 Precision Software & Innovative Crop Science Sustainable Food Agriculture Sensing Farming © Nomura AgTech & Sustainable Food News & Transactions Corporate ■ AppHarvest, a controlled-environment agriculture platform, announced it has secured a Announcements financing agreement with Equilibrium Capital for $91mm (Press Release) ■ Artemis, an indoor farming analytics provider, released its annual State of Indoor Farming report which predicts indoor growers adding approximately 544 acres to North America’s indoor farming industry over the next 5 years (Press Release) ■ BASF Agriculture Solutions, the agriculture arm of the Germany-based chemical Nomura Greentech’s company, announced approval by merger control authorities for its joint venture with Take: Bosch to globally market and sell smart farming technologies (Press Release) ■ There is strong momentum in the ■ Beyond Meat, a manufacturer of plant-based burgers and sausages, announced the controlled- opening of its new production facility in China to accelerate localized production and environment farming innovation in one of the fastest growing alternative protein markets (Press Release) sector as institutional investors seek more ■ Cargill is building a $200mm palm oil refinery in Indonesia to accelerate its efforts in sustainable ways to developing a sustainable palm oil supply chain (Press Release) invest in and scale ■ Eat Just, producer of plant-based food products that has sold the equivalent of 100mm agriculture through eggs in 2021, is contemplating going public at a $3bn valuation (The Beet) real assets ■ Enko, a crop health platform, announced a partnership with Bayer to apply a drug discovery approach to develop diverse chemistries for crop protection (Press Release) ■ Equilibrium Capital, a sustainable finance funds manager, closed its second indoor agriculture fund at $1bn+, well beyond its $500mm target (Press Release) ■ Impossible Foods, a plant-based food company, is preparing to go public within the next 12 months via an IPO or a merger with an already-listed SPAC (Reuters) ■ Intelligent Growth Solutions, a U.K.-based vertical farming technology provider has partnered with Madar Farms, which cultivates a variety of indoor crops with the objective of enhancing food security in the Middle East (Zawya by Refinitiv) ■ Nutrien, a Canada-based fertilizer company, unveiled a portfolio approach to its 2021 North American carbon pilots to identify the best path to successfully scale its carbon program while engaging a broad base of key industry partners (Press Release) ■ Oatly, a Sweden-based producer of alternative protein products, priced its initial public offering at $17 per share, at the top of its indicated range, raising $1.4bn (Press Release) ■ Oatly, a Sweden-based maker of plant-based milk, is investing S$300mm alongside, Yeo’s, a Singapore-based beverage firm, to build a new factory in the city-state as it sets its sights on expanding into the growing Asia Pacific region’s market (Business Times) ■ Perfect Day, an alternative diary startup that ferments component dairy proteins such as whey and casein from fungi, unveiled a new advisory board (Pres Release) ■ Shenandoah Growers, an indoor farming platform, announced the addition of a new CEO and CFO bolstering its Executive Leadership team (Press Release) ■ Zymergen, a bio-manufacturing platform, provided a business update regarding issues with its commercial product pipeline impacting revenue projections (Press Release) COVID-19 Update ■ Tyson Foods announced a requirement for its team members at U.S. locations to be fully vaccinated by October 1, 2021, subject to ongoing union discussions (Press Release) Regulatory Update ■ CEA Food Safety Coalition launches the first-ever certification standard for indoor-grown leafy greens backed by science-based criteria (Press Release) ■ Meatpackers are in the crosshairs of U.S. lawmakers as ranchers complain that beef processors are abusing market power to gain out-sized margins (Bloomberg) Note: Companies are U.S.-based unless indicated. Source: FactSet, PitchBook, Public Disclosures. 1 AgTech & Sustainable Food Transactions Summary Capital Raises Amount Date Company Raised ($mm) Disclosed Investors Company Description BOND, Acre Venture Partners, Congruent Producer of alternative meat products utilizing Jul. 29 Meati Foods $50 Ventures, Prelude Ventures, Tao Capital fungi and fermentation Technology-enabled platform serving the Jul. 28 Colvin $53 Capagro, Eurazeo floriculture industry Breakthrough Energy Ventures, Hillhouse Capital Group, Footprint Coalition, Jul. 22 Nobell Foods $75 AgFunder, a16z, Pear VC, New Crop Producer of plant-based cheese Capital, Germin8 Ventures, Fifty Years, Mission Bay Capital Radical Ventures, Finistere Ventures, Jul. 21 ClimateAi $12 Predictive weather analytics platform Neotribe, AMECloud, ThirdStream Partners Left Lane Capital, Insight Partners, Coatue Jul. 20 Choco $100 Ingredients procurement platform Management, Bessemer Venture Partners SoftBank Vision Fund II, Blackstone Strategic Partners, Balyasny Asset Alternative protein platform utilizing microbes that Jul. 19 Nature's Fynd $350 Management, Hillhouse Investment, EDBI, originated in the geothermal springs of the SK Inc, Hongkou Capital, Breakthrough Yellowstone National Park Energy Ventures DCVC, Temasek, Generation Investment Management, G2 Venture Partners, Rockefeller Capital Management, Jul. 19 Pivot Bio $430 Producer of microbe-based biological inputs Breakthrough Energy Ventures, Continental Grain Company, Prelude Ventures, Bunge Ventures, Tekfen Ventures Supernova Invest, FMC Ventures, Sofinnova Jul. 08 Microprep $10 Developer of peptide-based biological inputs Partners, IRDI Capital Investissement L Catterton, DisruptAD, BRF, Cargill, CJ Jul. 07 Aleph Farms $50 Israel-based producer of cellular meat CheilJedang, Thai Union Yabeo Impact, Sony Innovation Fund, June Jul. 06 Agrando $14 Germany-based digital agriculture marketplace Fund, JLR Star Note: Companies are U.S.-based unless indicated. Source: FactSet, PitchBook, Public Disclosures. 2 AgTech & Sustainable Food Transactions Summary Capital Raises (cont.) Amount Date Company Raised ($mm) Disclosed Investors Company Description SoftBank Vision Fund II, B. Riley, Chimera Jul. 05 Kitopi $415 Investment, Dogus Group, Next Play Capital, UAE-based cloud kitchen Nordstar Czech Republic-based on-demand grocery Jul. 01 Rohlik $119 Index Ventures, Partech, Quadrille Capital delivery platform Israel-based AI-driven technology platform that Phoenix, BASF, Fortissimo Capital, Jun. 22 Equinom $20 breeds and grows seeds with superior nutritional Maverick Ventures Israel, Trendlines qualities Yara Growth Ventures, Chevron Technology Precision agriculture platform reborn as a soil Jun. 22 Boomitra $4 Ventures, Jerry Yang, Tom Steyer, Kat carbon marketplace Taylor Nutreco, Olympic Investments, AXA IM Alts, U.K.-based alternative protein platform utilizing Jun. 20 ENOUGH $51 HAL Investments and Tailored Solutions, fermentation from fungi Scottish Enterprise, CPT Capital Cambridge Capital, GLP, Next47, Pereg Logistics management platform for grocery, Jun. 18 Bringg $100 Ventures, Salesforce Ventures, Viola foodservice and other industries Growth, Shmuel Harlap Ontario Teachers' Pension Plan Board, BlackRock, AiiM Partners, Wittington Ventures, Rethink Food, Rage Capital, Jun. 16 Motif FoodWorks $226 Producer of alternative protein food products Rellevant Partners, Breakthrough Energy Ventures, CPT Capital, General Atlantic, Louis Dreyfus Company, Viking Global CDPQ, S2G Ventures, Akroyd LLC, KuE Digital platform offering integrated remote Jun. 09 Sentera $25 Capital, Continental Grain Company, iSelect sensing, analytics and IoT solutions to Fund, Middleland Capital agronomists Seven Seven Six, Day One Ventures, Jun. 08 SIMULATE $50 Imaginary Ventures, NOMO Ventures, Chris Manufacturer of plant-based chicken products and Crystal Sacca Fidelity, GIC, Chimera Investment, Baillie Gifford, SoftBank Vision Fund, Canada India-based food delivery-app-turned logistics May. 31 Delhivery $277 Pension Plan investment Board, Tiger platform Global Management Note: Companies are U.S.-based unless indicated. Source: FactSet, PitchBook, Public Disclosures. 3 AgTech & Sustainable Food Transactions Summary Capital Raises (cont.) Amount Date Company Raised ($mm) Disclosed Investors Company Description Mirae Asset, Arkam Ventures, Better India-based fintech platform improving access to Capital, Blume Ventures, Nabventures, May. 30 Jai Kisan $30 credit for smallholder farmers, suppliers and Prophetic Ventures, Syngenta Group service providers Ventures Robotic platform that automates the process of May. 26 TerraClear $25 Madrone Venture Group removing rocks of all sizes from farmers' fields Fidelity Management & Research, Amplo, Gaingels, GV, General Catalyst, GGV Capital, Temasek, Groupe Artemis, Formula May. 25 Bowery $300 One driver Lewis Hamilton, basketball player Controlled environment agriculture platform Chris Paul, actor Natalie Portman, singer- songwriter Justin Timberlake, chef Jose Andres Flagship Pioneering, Stage 1 Ventures, Agriculture biotech platform focusing on tackling May. 25 Invaio Sciences $89 Bluwave Capital, Alexandria Venture crop health challenges Investments Collaborative Fund, AgFunder, BOPU, BoxGroup, Decent Capital, Embark Developer of more sustainable nitrogen fertilizers May. 25 Kula Bio $10 Ventures, iSelect Fund, Lowercarbon for crops Capital, Pillar VC, Grantham Foundation's