Wide Open Agriculture Ltd. · ASX:WOA
Wide Open Agriculture — Shareholder Meeting (November 2023)
20 slides from Wide Open Agriculture's shareholder meeting presentation, Nov 30, 2023
Slide 1: The new global leader in lupin-based protein
For personal use only THE NEW global leader IN lupin-based protein Investor Presentation | November 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: Novax Group takes strategic stake in WOA Germany
novax Group takes Strategic stake in For personal use only woa germany Investment arm of Axel Johnson Group, a leading Swedish family-owned business with SEK 118bn (A$17.8bn) in turnover. Novax subsidiary Inga Group to sell and distribute WOA lupin isolate in Europe Customer Validation of WOA’s lupi
Slide 4: Year in review
WIDE OPEN AGRICULTURE For personal use only Year in review Buntine Protein® is ready NOW Multiple new Buntine partners Prolupin deal cements global leadership Cash Burn reduced by over 50% $6.2m raise backed by large, long-term investors Secured over $15m in non-equity, non-dilutive financing (NAB,
Slide 5: Demand for plant-based protein is exploding
Demand for plant- based protein is 22% of people globally now eat plant-based food2 For personal use only exploding… $162bn $139bn $123bn 42% of people say we will be eating plant-based food WE ARE HERE… $109bn instead of meat in ten years2 $94bn $78bn $65bn $52bn $44bn $35bn $29bn 79% of Millennial
Slide 6: Protein demand is expected to continue
Protein demand is expected to continue For personal use only 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 Cri
Slide 7: Traditional protein is taking a toll on our planet
Traditional protein is Livestock • Accounts for 60% of all greenhouse taking a toll on our planet gases from food production2 For personal use only • Heavy land, pollution and water use Seafood • 35% of fish stocks have been fished beyond sustainable limits3 34% • Overfishing is impacting entire eco
Slide 8: Buntine Protein is the answer
Buntine Protein® is the answer For personal use only 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 resto
Slide 9: Proven Demand for Buntine Protein
Proven Demand for Buntine Protein® For personal use only 1 2 3 Industry is seeking Large & +150 samples sustainable growing sent to large alternatives pipeline global food companies 4 5 6 Entering Sales Indicative Prolupin distribution demand is facility secured 400+ tonnes with high in UK, Europe u
Slide 10: An elite partner ecosystem
an elite partner ecosystem Sales & Distribution For personal use only Australia, NZ & Pacific Islands Australia Alchemy is a specialty distributor of Australian subsidiary of one of the largest high-performance food ingredients dairy companies in the world, brings expertise in manufacturing, spray d
Slide 11: We can now match demand with production
We can now match demand with production Pilot Production Commercial Production Large Commercial Production For personal use only 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
Slide 12: Prolupin Acquisition
For personal use only Acquisition Acquisition cost only A$4.2m cash State of the art manufacturing facility Software assets & technical infrastructure $17.6 Million Replacement 7 patent families related to lupin protein Book Value1 Prolupin sales pipeline of 100+ tonnes in addition to WOA’s pipeline
Slide 13: Potential Prolupin Asset Economics
Potential Prolupin Asset Economics Acquisition of Prolupin($4.2m) Future Equipment Upgrade (~$3m) 2500 For personal use only 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 Pricing expecte
Slide 14: Saputo unlocks large scale commercial manufacturing
Future Target Saputo unlocks large scale +5,000tpa For personal use only commercial manufacturing Non-binding MoU signed with Saputo Dairy Australia Pty Ltd Provides a framework to negotiate a binding ‘Definitive Agreement’ Agreement provides optionality for large scale production of Buntine Protein
Slide 15: Our Immediate Plant Protein Priorities
Our Immediate Plant Protein Priorities Manufacturing: Q4 CY23 Q1 CY24 Q2 CY24 Q3 CY24 Q4 CY24 For personal use only Capital raise to acquire Prolupin Final creditor approval of Prolupin sale Complete Prolupin acquisition Begin facility modification to produce Buntine Protein® Successful Buntine Prot
Slide 16: Successful Capital Raising
Successful Raised appx. A$6.2m For personal use only Secured binding commitments to raise Capital Raising approximately A$6.2m @ $0.20 per share WOA will issue approximately 31,147,740 new fully paid ordinary shares Undertaking SPP for up to A$1.5m Issue price A$0.20 Share Purchase Plan to raise up
Slide 17: Dirty Clean Food
Dirty Clean Food For personal use only Unique brand with a track record of fast growth Australia's leading regenerative food and beverage brand 12.5% revenue growth vs PY (LTM) 11,000+ loyal customers Strong distribution network in APAC; a market leader in Perth and WA Rapidly improving contribution
Slide 18: Dirty Clean Food Strategic options
Dirty Clean Food For personal use only Strategic options WOA continues to explore multiple strategic options for DCF that will drive shareholder value: • Progress DCF to profitability • License the brand to a third party • Sale of a minority/majority stake • Outright sale • Closing DCF Investor Pres
Slide 19: WOA Company overview
WOA Company overview Wide Open Agriculture Ltd. WOA Last Price $0.15 For personal use only Shares Outstanding (m) 174.6 Market Capitalisation (m) $26.3 LTM Revenue (m) $11.5 Cash on Hand (m, Sept. 30, 2023) $3.9 Capital Raise (m, Oct. 19, 2023) $6.2 Top Shareholders Holding FANJA PON & HANS RAVE 19.
Slide 20: Thank You
Thank You. For personal use only 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 20
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