Local Bounti Corporation · NYSE:LOCL
Local Bounti — Merger or Acquisition (March 2022)
11 slides from Local Bounti's merger presentation, Mar 15, 2022
Slide 1: Pete's Strategic Acquisition Summary
Exhibit 99.3 Pete’s® Strategic Acquisition Summary March 15, 2022 ©2022 Local Bounti Corp
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer FORWARDLOOKINGSTATEMENTS This presentation is for the purpose of summarizing certain aspects of the proposed acquisition (the “Transaction”) of the Hollandia Produce Group, Inc. (including related entities and subsidiaries), which does business as Pete’s (“Pete’s”) by Local Bounti Corpora
Slide 3: Strategic Rationale: Key Investment Considerations
Strategic Rationale Key Investment Considerations Pete’s represents an opportunity to invest in one of the country’s leading CEA platforms Synergistic Footprint Expansive CEA Retail Distribution Category Penetration/Differentiation Local Bounti Stack & Flow Technology™ Retrofit Opportunity 3
Slide 4: Distribution Footprint
Pete’s Distribution Footprint Pete’s footprint is synergistic with Local Bounti’s expansion plan DETAIL VIEW Georgia Site Canada Carpinteria 400 Miles Warner Oxnard Robins, GA LB Farm Distribution Centers • Walmart LB Farm, Construction • Publix Pete’s Farm • Kroger • Albertson’s Pete’s Farm, Constr
Slide 5: Expansive CEA Retail Distribution Creates Immediate Scale for Local Bounti
Pete’s Expansive CEA Retail Distribution Creates Immediate Scale for Local Bounti Diverse Blue-Chip Customer Base ~10,000 RETAIL DOORS Pete’s has built a nationwide sales network, laying the groundwork to serve Pete’s Customer Base existing customers, nationally, through the development of new facil
Slide 6: Diverse Blue-Chip Customer Base
Diverse Blue-Chip Customer Base Pete's Delivers Deep & Diverse Blue-Chip Customer Base to Pete’s enjoys durable relationships Expand Local Bounti Presence with regional and national customers, as demonstrated by ~75% of net revenue generated in 2021 from 47% customers with a 5+ year tenure • Coast-t
Slide 7: Established Category Penetration Case Study
Pete’s Established Category Penetration 1 Case Study CEA Indoor butter lettuce 1 CEA Production Increase replaces field-grown Since 2019 Market share of Market share of A growing share of crops are butter lettuce in CEA butter lettuce Western Region in Western Region 186.4% ($ in millions) ($ in mil
Slide 8: Proven Operational Execution
Pete’s Proven Operational Execution Track Record of Successful Expansion Industry-Leading Operations Pete’s has a long history of completing transformative Three distinct growing Proprietary fertilization State-of-the-art capital projects that boost systems, depending techniques for organic harvesti
Slide 9: Substantial Operational Synergies
Substantial Operational Synergies Yield Efficiency Expanded Supply Chain Improvements Retail Presence Cost Savings • Incorporate Stack & Flow • Pete’s has an extensive • Pete’s has spent 25 years Technology™ at Pete’s retail network (~10,000 building an efficient three facilities doors vs. Local Bou
Slide 10: Retrofit Opportunity Expands Pete's Yields
Retrofit Opportunity Expands Pete’s Yields 1 35+% EFFICIENCIES Expected retrofit yield improvement TM ü Yield Stack ü Cost 40+ + SKUs + ü Capital Optimal production Flow potential Unique Stack & Flow™ ü Product retrofit capabilities provide opportunity to expand 2 ü Resource addressable market to 90
Slide 11: Turn a New Leaf
+ TURN A NEW LEAF Starting a new chapter in agriculture, together 11