Blue Star Foods Corp. · OTC:BSFCD
Blue Star Foods — Investor Presentation (November 2021)
23 slides from Blue Star Foods's investor presentation, November 2021
Slide 1: Blue Star Foods Corporation
Blue Star Foods Corporation Blue Star Foods Corp. | November 2021 Healing the planet one pound at a time. bluestarfoods.com
Slide 2: Forward looking statements
2 Forward looking statements Blue Star Foods Corporation This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are characterized by future or con
Slide 3: Company Overview
3 Company Financials(2) Company Overview Blue Star Foods Corporation ▪ FY-2019 | Revenue of $23.8M Blue Star Foods Corp. (“Blue ▪ FY-2020 | Revenue of $14.1M | Profitable in H2-2021 (on a cash-basis). Star” or “BSFC”) is an ▪ FY-2021 | Revenue of $20M+ integrated ESG seafood Headquarters company tha
Slide 4: Established Supply Chain with Blue Chip Customers
4 Established Supply Chain with Blue Blue Star Foods Corporation Chip Customers BSFC has built relationships with some of the largest, most prestigious companies in the United States. ▪ Quality product ▪ Reliable delivery ▪ Delivers auditable ESG check points for customer
Slide 5: Crab Meat Product Sourcing
Crab Meat Product Blue Star Foods Corporation Sourcing. Processing. Sustainable Catch. BSFC sources its main product, the Blue Swimming Crab from Southeast Asia. ▪ In 2020, 90%(1) of product sourcing was from the Philippines (46%) and Indonesia (44%). Product is processed on site at local facilities
Slide 6: Environmentally Friendly Packaging/Premium Labels
6 Environmentally Friendly Packaging/Premium Labels Sustainable and ethical packaging. ▪ BSFC has several global patents on the Eco-Fresh crab meat pouches Worldwide. ONLY company to package Crab meat in pouches. Benefits of Eco-Fresh pouches vs. traditional metal cans include: ▪ Cost Efficient | lo
Slide 7: ESG & Environmental Stewardship
ESG & Environmental Stewardship BSFC released its First GRI Standard Sustainability Report in January 2021. 89-page report shows the company’s performance during past 2 years against globally recognized, quantifiable and standardized ESG Key Performance Indicators. ▪ Only report focused on Blue Crab
Slide 8: Coastal Pride Acquisition
8 November 2019 Blue Star Foods Corporation Key Transaction Points Acquisition Coastal Pride Management Team ▪ >30 years crab meat category market operators Seafood company specializing in ▪ 2nd generation family company. importing pasteurized and fresh crabmeat primarily from Mexico and LATAM. Stra
Slide 9: The Problem - Evolution to RAS Land-Based Aquaculture
9 The Problem-Evolution to RAS Land-Based Aquaculture Blue Star Foods Corporation Double Seafood Overfishing Conventional Consumption by 2050 aquaculture will NOT meet demand GAP Environmental Pollution of the Food Supply Ocean Microplastic Pollution
Slide 10: Resource Efficient Production
Resource 10 Efficient 1.3 Feed Conversion Ratio 56 kgs Edible Meat per 100 kg fed Production Increased Global Marine Protein 7.9 kgs Carbon Footprint | Kg CO2 / Kg edible meat Blue Star Foods Corporation 2,00 Water consumption | Litre / Kg edible meat Consumption & 1.9 Feed Conversion Ratio 39 kgs E
Slide 11: Aquaculture Needs To Fill the Gap
Conventional Aquaculture Aquaculture Needs To Fill the Gap Blue Star Foods Corporation The wild fish catch peaked at 94 Mt (1) in the mid-1990s and has since stagnated/declined. All future increase in world fish consumption will need to come from aquaculture. ▪ In 2016, aquaculture provided more tha
Slide 12: Global Salmon Market & Conventional Open-Net Salmon Farming Challenges
Global Salmon Market & Blue Star Foods Corporation Conventional Open-Net Salmon Farming Challenges Size of the Global Salmon market ▪ The market volume for all Salmon worldwide is estimated to be 3.7 million tons in 2021 and will be 4.0 millions tons by 2023(1). ▪ In 2019, the USD value for the glob
Slide 13: Macro Regulatory Demand Driver
Macro Regulatory Blue Star Foods Corporation Demand Driver The Government of Canada has made it a policy decision to phase out Ocean Based Salmon Farming by 2025. This will start with the closure of farms located within the Discovery Islands, which shall be complete by June 30, 2022. The Discovery I
Slide 14: Solution & Competitive Advantage
Solution & Competitive Advantage Highly disruptive technology Fully controlled environment for the fish. No Antibiotics Virtually NO environmental impact RAS Land-Based Efficient land and energy use Aquaculture low to neutral CO2 emissions for Salmon Traceable Harvest Optimal feeding strategy Mobile
Slide 15: Taste of BC Aquafarms Acquisition
15 June 2021 Key Transaction Points Blue Star Foods Corporation Acquisition Taste of BC Management Team Aquafarms ▪ >10 years in RAS field + 2nd generation family company. ▪ Unique technical expertise to dramatically scale operations. A land-based Recirculating Aquaculture Strategic Fit Systems (RAS
Slide 16: Growth in Land-Based Salmon Farming Competitive Landscape
Growth in Land-Based North America RAS Farms 16 Salmon Farming in Production Volume plans identified in 2018 vs. 2019 (kt) IN – 1,200 MT 1000 Aquabounty 900 First Harvest 2020 Blue Star Foods Corporation 800 700 Salmon 600 500 400 FL (Phase 1) – 10,000 MT Atlantic Sapphire FL (Phase 2) – 25,000 MT C
Slide 17: A Notable Valuation Gap Between BSFC & The Following
A Notable Valuation Gap Between BSFC & Blue Star Foods Corporation The Following: (in production) (in production) (project phase) Taste of BC (project) (project) A Wholly-Owned Subsidiary of BSFC (in production) (project)
Slide 18: Taste of BC At a Glance
At a Glance Taste of BC Blue Star Foods Corporation Taste of BC has perfected a modular system that will enable scalable, predictable & repeatable results. ▪ Have produced over 500,000 lbs. of Steelhead Salmon since 2012. ▪ Is the oldest continuously operating Salmon RAS in North America. ▪ The 1st
Slide 19: 1,500 MT Facility Economics
Engineering Partner 1,500 MT Facility Economics Blue Star Foods Corporation One of North America’s premier engineering firms focuses on RAS Site Selection Update facilities. Has been in business ▪ In progress. over 20+ years. Located in ▪ Have multiple sites as possibilities. Nanaimo, BC, Canada. Gr
Slide 20: Legacy Businesses and RAS Model Revenue Forecast
20 Legacy Businesses(1) Millions of USD 2021 2022 2023 2024 2025 2026 2027 2028 Total Blue Star Foods Corporation 2018 Legacy Revenue $20.0 $46.0 $47.4 $48.8 $50.3 $51.8 $53.3 $54.9 $372.5 Estimates(1) COGS + OpEx $19.5 $44.2 $45.5 $46.8 $48.3 $49.7 $51.2 $52.7 Legacy & RAS Net Income ~4% Net Income
Slide 21: Executive Team
21 Executive Team Blue Star Foods Corporation John Keeler Nubar Herian Jeffry Guzy Chairman & CEO Member Member Named Best CEO in Sustainable Seafood Industry by European CEO Magazine. 2017 Speaker at “The Economist World Ocean Summit”. Sylvia Alana Tim McLellan Trond Ringstad CFO Member Member blue
Slide 22: Call to Action
Call to Action Blue Star Foods Corporation • Blue Chip Customer Base • Valuation Gap Between Competitors • Undiscovered Opportunity in the Rapidly- Growing Food Supply Chain • Highly Scalable, Modular
Slide 23: Healing the planet one pound at a time
Blue Star Foods Corporation 23 November 2021 Healing the planet one pound at a time. www.bluestarfoods.com www.facebook.com/BlueStarFoods/ www.linkedin.com/company/bluestarfoods/ www.twitter.com/BlueStarFoodsCo bluestarfoods.com
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