Feeding People without Consuming Earth

October 2018

Confidential

The Solution Switching to an insect-derived protein

It is estimated that insects form part of the traditional diets of at least 2 billion people.

Insects are a highly nutritious and healthy food source with high fat, protein, vitamin, fiber and mineral content.

Edible Insects

Research

(2013)

Our solution: Fruit Fly Larvae

No Cholesterol

Rich in Protein, Magnesium, Calcium, IronMagnesium

√ Rich in Protein, Iron, Calcium, Magnesium

√ Best essential amino acid profile (eAA)

√ Very low Cholesterol

√ High quality fatty acids – Omega7

√ Vegetarian fly - eats fruits only!

√ No hormones, antibiotics, pesticides

√ No shared zoonotic diseases with humans

√ Self cleaning insect – gut purged on last day

√ Free of greenhouse gas pollution

√ Utilizing almost no water

√ Negligible land abuse

√ No waste

Low cost diet

Proprietary rearing technology

√ Short life span of only 6 days

√ In which body mass grows by 15 times

√ Efficient low cost diet

√ Self harvesting insect

High quality protein powder

• 70% Protein

• 12% Minerals

• 7% Fiber

• 8% Fat

• Functional

• Tasteless & Odorless

Dairy analogs Baked goods Chicken substitutes Meat substitutes

Cereals Milk SubstitutesPasta

Countless potential applications

Sports Nutrition

Tremendous interest from the industry

Collaboration with

• IKEA chose 10 companies out of 1,300

• 3 month Bootcamp at IKEA’s HQ

• IKEA operates 402 restaurants

• In 44 markets

• 2 billion euros yearly turnover from food

Collaboration with

• The largest baking company in the world, over $16

billion yearly turnover

• Two different categories are being developed:

• Sandwich bread

• Sweet baked goods (“Pronut”)

• Successful Pilots in 3 universities and experts panels

• Scale up and supplying discussions

Protein enriched bread

Pronut –protein enriched doughnut

Going Forward - Scale Up

Advanced Rearing Technology:

• Optimizes the yield of fruit fly larvae (kg/m2)

• Lowers costs to under $0.5/kg (at scale)

Processing Technology:

• Protein Concentration

• Oil Separation

• Chitin Extraction

Proprietary

Low cost

liquid dietHigh quality

Protein

Pipeline of products

Time

Value

Low

High

2019 2020 2021 2022 2023

Clinical Nutrition

Oil, Chitin

Protein Products

Global protein ingredients marketexpected to reach $50 billion annually by 2025 (now ~$30 billion)

Source: Grand View Research, 2018

52.4%

21.0%

17.1%

9.5% • World population is growing

• Demand for alternative protein is increasing

• Current food sources are not sustainable

• Increased demand for personalised nutrition

Regulations

North America and Canada*

South America

Europe

Middle East

Australia

Southeast Asia

Africa

Bootstrap

F&F

Angel Investors

Seed Round

R&D for farming and processing

Series A Production Line

2015

UniversitiesResearch Institutes

Our Journey

2016 2017 2018

Pilots

Team

Doron Zaada (MSc)V.P Entomology

__________________Entomologist, specializing in

mass rearing of flies. BSc in

Agroecology, MSc in Entomology

Ariel Katz (PhD)Chairman of the Board

__________________Founder and former CEO and

President of Enzymotec (NASDAQ:

ENZY)

Eran GronichCo-Founder & CEO

___________________Experienced Entrepreneur,

founded several companies (one

exit). BA in Business

Management & Marketing, MBA

in Finance

Keren Kles (PhD)Co-Founder & CTO

_______________________Food Scientist, specializing in

proteins and ingredients

functionality. BSc in Biochemistry

& Food Science and PhD in Food

Science & Technology

Adi Vider (MSc)COO

___________________Production Manager, 10 years

of experience in process

engineering, scale-up, R&D, and

operations. M.Sc and B.Sc in

Chemical Engineering