Aquabounty Technologies, Inc. · NASDAQ:AQB
Aquabounty Technologies — Roth Conference 2023
25 slides from Aquabounty Technologies's conference presentation, March 2023
Slide 1: Roth Conference
Roth Conference AquaBounty Technologies, Inc. NASDAQ: AQB March 2023 AquaBounty.com 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Safe Harbor Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical f
Slide 3: Company And Market Overview
Company And Market Overview AquaBounty.com 3
Slide 4: AquaBounty: Leaders in Aquaculture and Biotechnology
AquaBounty: Leaders in Aquaculture and Biotechnology Key Milestones Company Profile 1989 First genetically engineered (“GE”) Atlantic salmon line created Headquarters: Maynard, MA 1995 Regulatory approval process begins for GE salmon Total Employees: 110 U.S. Food and Drug Administration (“FDA”) app
Slide 5: Investment Highlights
Investment Highlights ▪ $17 billion1 global salmon market driven by a massive supply-demand imbalance and AquaBounty Technologies, Inc. increasing need for fresh and nutritious proteins for a growing global population 2 (NASDAQ: AQB) ▪ Proprietary salmon genetics utilized to create genetically engin
Slide 6: Experienced Management Team
Experienced Management Team Alejandro Rojas, DVM Angela Olsen David Frank Chief Operating Officer General Counsel CFO and Treasurer Dr. Rojas is a renowned Ms. Olsen is an Mr. Frank has extensive expert in salmon farming. experienced legal advisor experience working with His areas of expertise drivi
Slide 7: Population Growth and Environmental Challenges Creates Need for New Solutions
Population Growth and Environmental Challenges Creates Need for New Solutions Population Growth: ▪ Global population projected to grow to more than 9 billion people by 2050 – 26% growth in 30 years1, with a growing middle class driving increased protein demand ▪ Protein consumption is predicted to n
Slide 8: Atlantic Salmon – Large Market With Inefficient Supply Chain
Atlantic Salmon – Large Market With Inefficient Supply Chain Land-Based RAS Farming Has Potential to Disrupt The Industry Market Dynamics 3-6 Days NORWAY, FAROE IS. kt Demand Drivers: ICELAND Harvest 1,333 RUSSIA kt ▪ Salmon is widely known to be healthy & nutritious1 Market 42 Harvest 10 NORTH AMER
Slide 9: Farmed Salmon Competitive Landscape
Farmed Salmon Competitive Landscape ▪ Salmon farming competition is primarily in sea cages and to a lesser extent land-based farming ▪ Growing momentum in land-based salmon farming projects has the potential to further disrupt the industry Growth in Land-Based Salmon Farming U.S. RAS Farms In Produc
Slide 10: AquaBounty is Well Poised to Take Advantage of Fragmented State of Aquaculture
AquaBounty is Well Poised to Take Advantage of Fragmented State of Aquaculture 4 Market fragmentation plus favorable industry tailwinds Well-positioned over competitors to produce safe, ideally position AquaBounty to take market share secure, and sustainable salmon without premium pricing ▪ Aquacult
Slide 11: AquaBounty’s GE Salmon: Better for the Environment. More for Consumers.
AquaBounty’s GE Salmon: Better for the Environment. More for Consumers. Enhanced Benefits of Controlled Operations Compared To Sea-Cage Farming Faster Growth Critical during most vulnerable stages of fish lifecycle Lower Carbon Footprint Less Feed Used Greater than 95% water recycled and 25% improve
Slide 12: State of The Current Business
State of The Current Business AquaBounty.com 12
Slide 13: We Continue to Achieve Key Milestones
We Continue to Achieve Key Milestones Scaling the Ramping Bringing GE Salmon Bolstering our Business Production to Market Balance Sheet • Made strong strides against • Implemented primary • Robust communications • Completed four equity our long-term plans to scale processing capability in platform i
Slide 14: Indiana Farm Focused on Optimizing Farm Operations
Indiana Farm Focused on Optimizing Farm Operations ▪ Continuously improving KPIs while delivering solid results with a less than optimal farm design or the latest technology demonstrates operational competence ▪ Established baselines for KPI’s and work to continuously improve against them ▪ Focus on
Slide 15: Driving Growth & Expansion
Driving Growth & Expansion AquaBounty.com 15
Slide 16: Our Operating Model is designed to facilitate Growth & Expansion
Our Operating Model is designed to facilitate Growth & Expansion Our operating model allows us to seek out opportunities to grow organically through our internal expertise and inorganically through M&A, JV or investments RAS Farming Expertise ▪ Translatable to new species ▪ RAS technology improvemen
Slide 17: AquaBounty in Pioneer, Ohio – February 2023
AquaBounty in Pioneer, Ohio – February 2023 Construction Status ▪ 100% completed with work on Geo Piers ▪ RAS piping for 1st feeding, nursery and fingerling complete. Pre-grow 70% complete ▪ 4 tanks – In place and water tested ▪ Fingerling RAS basin – Concrete forms being installed ▪ Utilities build
Slide 18: Continued Global Expansion
Continued Global Expansion Israel Two sites identified and in North America advanced discussions to form a 50/50 JV with a leading partner ▪ Continued expansion in U.S. and Canada with potential for 3-5 farms by 2030 for Farm 4 International ▪ Conversations continue with expansion partners in South
Slide 19: A Combination of Organic and Inorganic Opportunities Optimize Growth Portfolio
A Combination of Organic and Inorganic Opportunities Optimize Growth Portfolio Our focus is primarily on organic growth with a small portion dedicated towards inorganic growth opportunities Organic Growth Inorganic Growth PRIMARY SECONDARY Site Expansion 4-5 new farms operating at capacity by Carefu
Slide 20: Key Financial Metrics
Key Financial Metrics AquaBounty.com 20
Slide 21: GE Salmon Economics vs. Conventional Salmon
GE Salmon Economics vs. Conventional Salmon Throughput increase leverages site infrastructure Improved feed conversion by ~25% reduces feed costs Faster growth to harvest weight (> 4kg) results in 1.7X increase in harvest EBITDA Feed is the largest variable production cost GE salmon 18 vs 26 mo’s Co
Slide 22: Ohio Farm Expected to Generate Industry-Leading Economics
Ohio Farm Expected to Generate Industry-Leading Economics1 Profitable Land-Based Farming at Commodity Pricing Ohio Farm Projections ▪ Precision farming in conjunction with our technical points of difference ensure consistency in supply & cost Annual Output (live weight) 10,000 mt ▪ Biosecurity – pro
Slide 23: FY 2022 Capitalization
FY 2022 Capitalization At December 31, 2022: $ in thousands Cash and Restricted Cash $102,639 Debt ACOA AIF Grant, 0% Interest $2,119 ACOA Term Loan, 0% Interest, Matures February 2027 $115 ACOA Term Loan, 0% Interest, Matures September 2029 $277 ACOA Term Loan, 0% Interest, Matures December 2025 $1
Slide 24: AquaBounty Competitive Advantages
AquaBounty Competitive Advantages ▪ Proprietary GE Atlantic salmon ▪ Over 25 years of experience operating RAS land-based farms ▪ Vertical integration – we use our own broodstock/eggs ▪ Expertise in genetic engineering, breeding, fish health and nutrition AquaBounty.com 24
Slide 25: Let’s Have a Conversation
Let’s Have a Conversation AquaBounty uses next-generation land-based aquaculture and gene-editing technology that supports ocean conservation and provides consumers with regional access to nutritious, fresh and affordable salmon with no added antibiotics. Investor Relations AquaBounty Lucas A. Zimme