Kalera Public Limited Company · OTC:KALRQ
Kalera Public — Kalera — Q4 2021 Earnings Presentation
17 slides from Kalera Public's earnings presentation, Feb 17, 2022
Slide 1: Q4 2021 Earnings Presentation
KAL 042021 EARNINGS PRESENTATION FEBRUARY 17, 2022
Slide 2: Disclaimer and forward-looking statements
This presentation (hereinafter referred to as the "Presentation") has been prepared by Kalera Group ("Kalera" or the "Company”) exclusively for information purposes, and is only directed at, persons to whom such presentation may lawfully be communicated (’relevant persons’). Any person who is not a
Slide 3: Proposed business combination with Agrico notice
This Presentation contains statements regarding the proposed business combination transaction involving Agrico Acquisition Corp. (“Agrico”) and Kalera. The parties intend to file a registration statement on Form S-4 (or such other form as they might determine to be applicable) with the SEC, which wi
Slide 4: Sales Continue to Grow; First Full Quarter of Operations for Houston
1 ▪ Sales rose by 53.2% vs. the prior quarter and by 440% vs. the same quarter last year ▪ Demand for Kalera products continues to grow in Florida, Texas, Georgia and Kuwait Sales Continue to ▪ Sales to existing and new customers in the retail and foodservices segments are rapidly Grow increasing in
Slide 5: Positive Sales Momentum Continued During Q4 2021
KALERA Q4 2021 Presentation Positive Sales Momentum Continued During Q4 2021 RETAIL FOODSERVICE US & INTERNATIONAL Sales to key retail customers are Kalera’s foodservice sector has Business development in the US rapidly increasing expanded its reach to Denver, gaining traction and strong sales Virgi
Slide 6: Strong New Products and Integrated Communications Strategy Paying Off
KALERA Q4 2021 Presentation Strong New Products and Integrated Communications Strategy Paying Off Goals Recent Results ✓ Raise awareness, ✓ All retailer campaigns launched - Kroger, H-E-B, and Publix Campaigns to educate consumers and ✓ Foodservices – Digital marketing campaign launched Drive Sales
Slide 7: Strong Year-over-Year Sales Performance
Strong Year-over-Year Sales Performance ✓ Revenue increased to $1.2M during Q4 2021 compared to $227K in Q4 2020 representing a 440% increase. Compared to $801K in Q3 2021, our revenue Interim Consolidated Statement of Operations during Q4 2021 increased by 53.2% Unaudited ($ in thousands) ✓ Adjuste
Slide 8: Interim consolidated statement of financial position
Interim consolidated statement of financial position Unaudited ($ in thousands) 31 December 2021 31 December 2020 Assets Property, plant and equipment, net 127,970 28,014 ✓ Property, plant and equipment increased to $128M driven by Right-of- use assets, net 56,909 9,279 construction of the Denver, S
Slide 9: Interim Consolidated Condensed Statement of Cash Flows
Interim Consolidated Condensed Statement of Cash Flows Unaudited ($ in thousands) ✓ Net cash used in operating activities increased to $22.5M driven by the For the year ended 31 December, Company’s operating loss during the quarter resulting from operating 2021 2020 expenses to open new facilities a
Slide 10: Overview, Valuation and Ownership
Overview $146.6M cash in trust from Agrico Acquisition Corp. (Nasdaq: RICO) $100M minimum cash condition (1) to closing Use of proceeds: growth capital and general corporate purposes Valuation $375M pro forma equity value Exchange ratio of 0.091 for existing Kalera shareholders Based on
Slide 11: © COPYRIGHT 2022 KALERA. ALL RIGHTS RESERVED.
© COPYRIGHT 2022 KALERA. ALL RIGHTS RESERVED. 11
Slide 12: © COPYRIGHT 2022 KALERA. ALL RIGHTS RESERVED.
© COPYRIGHT 2022 KALERA. ALL RIGHTS RESERVED. 12
Slide 13: Sources & Uses and Pro Forma Capitalization
Sources Uses All values in $M All values in $M SPAC Cashin Trust $146.6 (1) Cash to Balance Sheet $135.4 Kalera Equity Rollover 195.0 (2) Kalera Equity Rollover 195.0 (2) Estimated Fees& Expenses 11.2 Total Sources $341.7 Total Uses $341.7 Pro Forma Capitalization Pro Forma Ownership (%) at Closing
Slide 14: CVR Key Terms
CVRs issued as merger consideration to Kalera SA shareholders will collectively represent the right to receive an aggregate of 10% of the fully diluted equity of Kalera plc (as of the closing) with 5% issuable on satisfaction of each of the following milestones: (i) Kalera plc shares trade at/ov
Slide 15: Agrico capital structure including public and sponsor warrants
Agrico capital structure including public and sponsor warrants are as follows: ✓ 14,518,750 Class A Ordinary Shares1 ✓ 3,593,750 Class B Ordinary Shares (Sponsor Shares) ✓ 7,187,500 Public Warrants2 ✓ 7,250,000 Private Warrants2 (Sponsor Warrants) Total cash in the trust account: $146,625,000 1) Inc
Slide 16: Sponsor Promote Shares Clawback
The Clawback provides that if the $100 million minimum cash condition1 is not satisfied, the 3,593,750 Class B sponsor promote shares are subject to forfeiture in an amount equal to 50% of the proportional shortfall. The table below provides numerical illustrations. Sponsor Promote Shares Clawback S
Slide 17: Kalera valuation and implied exchange ratio
($ in million except per share data) Kalera NOK 25% Premium (30-Day VWAP 1) 9.99 NOK 1 Kalera USD 25% Premium (30-Day VWAP ) 1.11 USD Kalera Share Price - 28 January 2022 7.99 NOK Premium 25% Basic shares outstanding (million) 209.4 Vindara shares to be issued (million) 2.1 In the money options (mil