Wide Open Agriculture Ltd. · ASX:WOA
Wide Open Agriculture — Investor Presentation (October 2023)
17 slides from Wide Open Agriculture's investor presentation, Oct 18, 2023
Slide 1: The new leader in lupin-based protein
The new leader in lupin-based protein Investor Presentation | October 2023 ASX: WOA FRA: 2WO
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Wide Open Agriculture Limited (ASX: WOA) (the “Company”). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this
Slide 3: Acquisition Summary
Acquisition Summary Acquisition Rationale Funding WOA has purchased the Immediate operational Raising approx. A$6.2m via manufacturing assets of footprint in Europe placement Prolupin GmbH Accelerates commercial scale Cornerstone investment Acquisition cost A$4.2m cash production of Buntine Protein®
Slide 4: Demand for plant-based protein is exploding…
Demand for plant-based protein is exploding… 22% of people globally now eat plant-based food2 $162bn $139bn $123bn 42% of people say we will be eating plant-based food WE ARE HERE… instead of meat in ten years2 $109bn $94bn $78bn $65bn $52bn $44bn $35bn $29bn 79% of Millennials and Gen zers already
Slide 5: Protein demand is expected to continue
Protein demand is expected to continue Global population to 2100 The world needs more protein Global population growing by over 80 million per year We will need to feed 9.7bn people by 2050 Protein consumption will increase 32% - 78% by 20501 Protein is essential for humans Critical nutrient your bo
Slide 6: Traditional protein is taking a toll on our planet
Livestock Traditional protein is • Accounts for 60% of all greenhouse gases from food production2 taking a toll on our planet • Heavy land, pollution and water use Seafood • 35% of fish stocks have been fished beyond sustainable limits3 34% • Overfishing is impacting entire ecosystems OF ALL MAN-MAD
Slide 7: Buntine Protein® is the answer
Buntine Protein® is the answer Better for the planet Better for consumers • Breakthrough climate-conscious • Cleanest, most neutral tasting lupin-based protein protein on the market • Lupins play a key role in a grain • Suitable for all ages and diets cropping rotation to restore soil • Zero harmful
Slide 8: It works…
Buntine Protein® Noodles Buntine Protein® Cookies It works… Buntine Protein® enhanced oat milk Investor Presentation 8
Slide 9: Buntine Protein® Sales Validation
Buntine Protein® Sales Validation 1 2 3 Strong +150 samples Indicative sales sent to large demand is pipeline global food 400+ tonnes companies 4 5 6 Entering Sales 1st Buntine Prolupin distribution Protein® facility secured product with high for the release utilisation U.S. & ANZ Q4 CY23 Investor P
Slide 10: We can now match demand with production
We can now match demand with production Pilot Production Commercial Production Large Commercial Production Kewdale Facility • Operational pilot scale production facility located • WOA has completed an • WOA has signed a non-binding within Dirty Clean Food’s agreement to acquire the assets MoU with S
Slide 11: Acquisition
Acquisition WOA has completed an agreement to purchase the assets of Prolupin GmbH for A$4.2m (€2.5m) in cash2 Based in Grimmen, Germany, Prolupin was the market leader in lupin protein $17.6 Million Book Value1 isolate production The manufacturing facilities of Prolupin have an initial capacity of
Slide 12: Acquisition Benefits
Acquisition Benefits European footprint Accelerated production Immediate operational footprint in Commercial scale production of Europe and an existing B2B pipeline Buntine Protein® within six months Future expansion Experienced team Expected positive cashflow to fund Experienced team with decades o
Slide 13: Potential Prolupin Asset Economics
Potential Prolupin Asset Economics Acquisition of Prolupin($4.2m) Future Equipment Upgrade (~$3m) 2500 Fibre: 2 x Buntine Significant opportunity to capitalise on strong 2000 demand in B2B sales for Buntine Protein® Fibre: Production Level (tpa) 2 x Buntine 1500 Prolupin’s facility has the ability t
Slide 14: Catalysts to Drive Value
Catalysts to Drive Value Manufacturing: Q4 CY23 Q1 CY24 Q2 CY24 Q3 CY24 Q4 CY24 Capital raise to acquire Prolupin Final creditor approval of Prolupin sale Complete Prolupin acquisition Begin facility modification to produce Buntine Protein® Successful Buntine Protein® produced at the facility Facili
Slide 15: Capital Raising Deal Overview
Capital Raising Deal Overview Current Capital Structure WOA WOA to raise A$6.2m via an institutional placement Last Price1 $0.33 for purchase of Prolupin and accelerating BP Shares Outstanding (m) 142.8 commercial launch Market Capitalisation (m) $46.4 Plus an SPP for A$1.5m4 2023 Revenue (m) $11.5
Slide 16: Executive Summary
Executive Summary • WOA has purchased the manufacturing assets of Prolupin GmbH at a small fraction of its value. • The deal will make WOA the leading producer of lupin protein in the world, and accelerate the commercial scale launch of Buntine Protein®. • The site is capable of producing 500 tpa of
Slide 17: Thank You.
Thank You. Jay Albany Chief Executive Officer M: (+61) 0434 473 047 E: jay@wideopenagriculture.com.au Matthew Skinner Chief Financial Officer M: (+61) 0468 303 620 E: matthew.s@wideopenagriculture.com.au 17
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