Aquabounty Technologies, Inc. · NASDAQ:AQB
Aquabounty Technologies — Investor Presentation (November 2021)
27 slides from Aquabounty Technologies's investor presentation, Nov 15, 2021
Slide 1: Investor Presentation
Exhibit 99.1 I N V E S T O R P R E S E N T A T I O N AquaBounty Technologies, Inc. NASDAQ: AQB November 2021 AquaBounty.com 1
Slide 2: Forward-Looking Statements Safe Harbor Statement
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 AquAdvantage Salmon “AAS” line created Headquarters: Maynard, MA 1995 Regulatory approval process begins for AAS Total Employees: 90 U.S. Food and Drug Administration (“FDA”) approves AAS RAS Farms: Albany
Slide 5: Investment Highlights
Investment Highlights ▪ Proprietary salmon genetics utilized to create the first of its kind, genetically AquaBounty Technologies, Inc. engineered animal approved for consumption by FDA and Health Canada – (NASDAQ: AQB) 1 AquAdvantage Salmon (“AAS”) 7 Share Price $3.76 2 ▪ $17 billion global salmon
Slide 6: Experienced Management Team
Experienced Management Team Alejandro Rojas, DVM Angela Olsen David Frank CFO and Treasurer Chief Operating Officer General Counsel 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 early
Slide 7: Population Growth Creates Need for New Solutions
Population Growth Creates Need for New Solutions ▪ Global population projected at 9 billion people by 1 2050 – 26% growth in 30 years , with a growing middle class driving increased protein demand ▪ Protein consumption is predicted to nearly double from 2017 to 2050, with marine-based proteins gaini
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 COVID-19 Update Market Dynamics 3-6 Days ▪ Salmon is widely known to be ▪ Demand in the U.S. initially fell NORWAY, FAROE IS. kt 1 ICELAND healthy & nutritious as COVID-19 negati
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 Market
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: AquAdvantage Salmon: Better for the Environment. More for Consumers.
AquAdvantage 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% improvemen
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 AAS Bolstering our Business Production to Market Balance Sheet • Made strong strides against • First processing capability • Robust communications • Completed four equity our long-term plans to scale on-line at Indiana farm as of pla
Slide 14: KPI's Meeting Expectations
KPI’s Meeting Expectations ▪ Continuously improving KPIs and delivering solid results with a less than optimal farm design or latest technology ▪ Cost and performance improvement is on-going through R&D initiatives, including feeding trials, biofiltration/water management fine-tuning and density opt
Slide 15: Driving Growth & Expansion
Driving Growth & Expansion AquaBounty.com 15
Slide 16: Expansion Plans Proceeding for Ohio Farm
Expansion Plans Proceeding for Ohio Farm Key Achievements Ohio Farm Partners ▪ Completed detailed basis of design and cost estimates for our large-scale, 10,000 metric ton farm ▪ Selected Pioneer, OH, as the site from an initial pool of approximately 230 sites o Evaluation criteria included water/wa
Slide 17: AquaBounty in Pioneer, Ohio
AquaBounty in Pioneer, Ohio Preliminary Rendition of Pioneer Farm Site Overview ▪ Estimated Square Footage: 479,000 sq. ft. ▪ Expected to create 100+ jobs ▪ Expected Construction Start Date: Q4 2021 Next Steps ▪ Complete real estate purchase ▪ Complete permitting process ▪ Begin Phase 1 engineering
Slide 18: Continued Global Expansion
Continued Global Expansion Israel In advanced discussions to North America form a 50/50 JV with a leading partner for Farm 4 ▪ Continued expansion in U.S. and Canada with potential for 3-5 farms by 2025 International ▪ Conversations continue with expansion partners in South America, Asia & the Middl
Slide 19: Optimizing Current Technology While Innovating for the Future
Optimizing Current Technology While Innovating for the Future ▪ Biotechnology leader providing molecular solutions that address problems & opportunities for the global aquaculture industry ▪ World Class operator of land-based Recirculating Aquaculture Systems ▪ Committed to the excellent husbandry a
Slide 20: 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 2030,
Slide 21: Key Financial Metrics
Key Financial Metrics AquaBounty.com 21
Slide 22: AquAdvantage Salmon Economics vs. Conventional Salmon
AquAdvantage 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 Feed is the largest variable AquAdvantage production cost 18 vs 26 m
Slide 23: Ohio Farm Expected to Generate Industry-Leading Economics
1 Ohio Farm Expected to Generate Industry-Leading Economics 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 – pr
Slide 24: Estimate on Ohio Farm Cost of Construction
Estimate on Ohio Farm Cost of Construction ($ in millions) Additional Reduction Opportunities • Target of $295 million provided to CRB (Ohio Farm builder) for Total Design • Contingencies and profit remain to be addressed AquaBounty.com 24
Slide 25: Q3'2021 Capitalization
Q3’2021 Capitalization Cash, Marketable Securities and Restricted Cash (as of September 30, 2021, $ in thousands) $198,312 Debt (as of September 30, 2021, $ in thousands) ACOA AIF Grant, 0% Interest $2,259 ACOA Term Loan, 0% Interest, Matures February 2027 $160 ACOA Term Loan, 0% Interest, Matures S
Slide 26: Current and Long-Term Growth Targets
1 Current and Long-Term Growth Targets Performance Metrics Projected Production Output (mt) ▪ Production output growth target = 51 50,000 mt by 2030 ▪ Assumes 4 to 5 new farms 41 36 ▪ Targeting non-dilutive financing sources (ex: debt) to leverage cash investment 26 ▪ Estimated EBITDA margin % per f
Slide 27: 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 Greg Falesnik
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