NextFerm Technologies Ltd.

Investor Presentation • Nov 22, 2022

NEXTFERM TECHNOLOGIES

Leading The Alternative Protein Revolution

November 2022

DISCLAIMER

This presentation is intended for the provision of non-comprehensive information for the sake of convenience solely. You are hereby referred to the full prospectus and immediate and periodic reports filed by the company with the Israel Securities Authority and the Tel Aviv Stock Exchange Ltd. for information regarding the Company's activities and the risks entailed thereby, including warnings regarding forward-looking information, as defined in the Securities Law, 5728-1968, that is included therein. In case of any discrepancy between the information contained herein and the information contained in the official reports of the Company to the Israeli Securities Authority and the Tel Aviv Stock Exchange, the information recorded in such reports shall prevail.

This presentation may include forward-looking statements and forward- looking information, including, but not limited to developments, outlooks, projected economy measures, etc.. Such forward-looking statements and information are based on the current assumptions, intentions and plans of the Company. The forward-looking information in the presentation is subject to risks and uncertainties and may not materialize, in whole or in part, or may materialize significantly differently than as predicted, or may be affected by various factors, including factors that are not under the Company's control or such that cannot be estimated in advance. The Company makes no representation or warranty of any kind with respect to such information.

For the avoidance of doubt, it is clarified that the Company does not undertake to update and/or modify the information included in this presentation to reflect events and/or circumstances occurring after the date of preparation of the presentation.

This presentation does not constitute an offer, invitation or recommendation to purchase, sell, subscribe for or do any transactions in the securities of the Company, in any jurisdiction, and the information provided in this presentation is not a basis for the making of any investment decision, nor a recommendation or opinion, nor a substitute for the discretion and independent analysis of any potential investor.

This presentation includes information from public sources, which was not independently examined by the Company and the Company is not liable as to its accuracy.

ABOUT NEXTFERM: LEADING THE ALTERNATIVE PROTEIN REVOLUTION

Experienced Team in the Food and Food-tech Industry

Breakthrough Technology for Innovative Yeast-based Proteins and Nutrients

ProteVin™ Revolutionary Vegan Protein Launched in June 2022 (USA)

• Yeast Derived
• Animal-like Nutritional Value
• Neutral Flavor (unlike typical plants-based proteins)

Above \$3M in POs and supply agreement

Additional commercial Stage Products

AstaFerm®: Novel & Powerful Astaxanthin Antioxidant

NextFreeze™ and Biofuel: 2 yeast strains Licensed to Lallemand Inc

ProteVin™ - COMMERCIAL STATUS

First launched - June 2022

~ 100 Companies evaluating ProteVin™ 6 Purchase Orders 10 Pilots 4 Territories 8.5 Tons supplied

Above \$3M POs & Supply Agreement

Launched in the USA by Spacemilk Using ProteVin™ brand

Launched expected December 2022. Available for preorder at Spacemilk's website:

https://spacemilk-smk.myshopify.com/products/pre-order-spacemilk

ABOUT NEXTFERM – THE TEAM

Experienced Team in the Food and Food-tech Industries

Company management is comprised of former Senior Management of Enzymotec, which developed innovative ingredients within the world of nutrition. Enzymotec reached revenues of over \$80M and went public (NASDAQ) during 2013, with a market cap of \$300M

EXPERIENCED MANAGEMENT TEAM IN THE WORLD OF NUTRITION

Yossi Ohana, CFO Former VP Finance of Enzymotec

Boaz Noy, CEO and Director

Former Sr. VP and Head of the BioActive Ingredients Division at Enzymotec

Yossi Peled, Chairman

Former Chairman and board member of Enzymotec and Former CEO of Galam

Yoni Twito, COO Former COO of Enzymotec

Arkadiy Haikin, VP of Engineering Former Chief of Engineering of Enzymotec

Gai Ben Dror, VP R&D & Process Development Former VP of Process Development of Enzymotec

Elzaphan Hotam CEO of NextFerm USA Former CEO of Enzymotec USA

BREAKTHROUGH TECHNOLOGY

FOR PRODUCING YEAST-DERIVED, INNOVATIVE, FUNCTIONAL VEGAN FOOD INGREDIENTS

Yeast Improvement (Patented, Non-GMO)

Improvement of yeast characteristics for either elevated expression of specific metabolites, stress resistance, and yield

Fermentation (Cost-effective)

Process optimization for economical production of the improved strain biomass

Separation & Purification

Development of efficient purification process for obtaining the desired ingredients applicable to food or dietary supplement

Scale-up (from Lab to Industry)

Implementation of the fermentation and purification processes to full production scale

The only fermented vegan protein with animal like nutritional value and neutral taste

WHY VEGAN PROTEIN

THE WORLD GOES VEGAN DUE TO THREE REASONS:

Health Plant based diet is healthier

Compassion Decrease animal suffering

Sustainability

Securing world natural resources

The growing shift towards vegan nutrition creates an increase in the need for vegan protein sources with better nutritional value that will enable consumers to enjoy vegan nutrition without compromising the joy of food

https://www.un.org/development/desa/en/news/population/world-population-prospects-2019.html

ALTERNATIVE FINISHED PRODUCTS MARKET IS EXPECTED TO GROW TO \$290B TILL 2035 (*)

An Analysis by BCG and Blue Horizon :

"Every Tenth Portion of Meat, Eggs, Dairy, and Seafood Eaten Around the Globe Will Be Made from Alternative Proteins by 2035"

Expected alternative market growth

Will Lead The BOOMING

Vegan Protein Market

PROTEVIN™- DISRUPTIVE VALUE PROPOSITION

YEAST DERIVED NON-GMO VEGAN PROTEIN PRODUCED THROUGH INNOVATIVE FERMENTATION PROCESSES

Animal-like nutritional value:

• High level of Essential Amino Acids (53% EAA), Branched Amino Acids (21% BCAA) and 9% Leucine
• Highly digestible protein (PDCAST=1)

Neutral flavor and taste: unlike other typical plant-based proteins or other yeast-based proteins

• Optimal integration in food
• Highly sustainable
• No allergens or impurities
• Regulatory status: Approved for marketing in the USA, EU & more
• Competitive pricing

The leading alternative protein

Protein Source	ProteVin™	Whey	Soy	Pea & Rice Blend
Vegan Source	+	-	+	+
Allergen Free / No impurities	+	-	-	-
Sustainability	+	-	-	+
Taste & Flavor	+	+	+	-
Amino Acid Composition (AA)	+	+	-	-
High Digestibility	+	+	+	-

Evaluation responds from food and dietary supplement companies, who are examining the integration of ProteVin™in their products

PROTEVIN™: OPERATIONAL PLAN

Initial production setup Commercial Launch

Initial Set-up of production by subcontractor (GFR Canada) capacity of 10s tons in 2022

Commercial launch and initial supply to a US customer (June 2022)

A 4.5 years supply agreement totaling approximately \$3M with Spacemilk

ProteVin™ is being tested by dozens of food and dietary supplement companies

Growth 1

A manufacturing agreement was signed with a subcontractor in Europe to establish a production plant with a capacity of 100s tons per year towards industrial profitable production in 2023, with the ability to grow

Starting EU production

Commercial profitable production at 100s tons scale per year

DEC

H2

2022

2023

PROTEVIN™ KEY GOALS FOR 2022

Operation of first manufacturing facility: With a capacity of tens of tons for 2022, GFR Canada - Achieved

Launch in USA: Starting supplying first orders - Achieved

Growing market demands: Additional orders, accelerating growth into sports nutrition and food markets by dominant players - Achieved

Expansion of production capacity: To start the Establishment of an industrial, profitable production plant that will start production during H-2, 2023 with a capacity of 100s ton/y and the ability to grow. - Achieved

Regulatory approval in Israel: Israel is the world's leading country in the transition to vegan nutrition and alternative nutrition and is an important market for the company. – In Process

ASTAXANTHIN YEAST-BASED ANTIOXIDANT

The only astaxanthin without taste or odor unlike alga based astaxanthin

Offred as:

• Gummies
• Oil for soft-gels
• Cold water dispersible powder

Launched in USA & Canada

PATENTS AND REGULATION

PROTEVIN - TRADE SHOWS 2022

April 2022, Cologne Germany Innovation for Food and beverage industry

July 2022 Chicago USA Food and beverage ingredients

October 2022 Singapore Food and beverage ingredients Asia

October 2022, Las Vegas USA Dietary supplements ingredients

November 2022, TLV Israel Food innovation

December 2022, Paris France Food and beverage ingredients

FINANCIAL INFORMATION

\$31M Raised (2014-2021)

Market B2C 2021 Private Placement (December 2021): Raised \$8M TASE IPO (January 2021): Raised \$11M, Market cap of \$33M Former Equity Rounds (Private investments): Raised \$12M

Cash & Cash equivalents as of September 30, 2022: ~ \$5.4M The Cash will serve the company ongoing activities and production increase from tens to hundreds of tons per year

Main Investors

Cider Holdings, Orgad, Arancia, Yitong Merage VC Phoenix-Excellence

FINANCIAL INFORMATION

in thousands USD	9M 2022	9M 2021	2021	2020
STATEMENT OF OPERATION
Net Revenues	198	141	242	9 5
(Loss) (**) Profit Gross	(296)	6	2 3	1 9
Market Operating Loss	(5 591) ,	(3 243) ,	(4 467) ,	(3 056) ,
B2C 2021 Adjusted (*) EBITDA	(4 996) ,	(2 962) ,	(4 113) ,	(2 635) ,
BALANCE SHEET
Cash cash equivalents and Short deposits term ,	5 415 ,	6 503 ,	13 164 ,	716
Working Capital	3 225 ,	3 872 ,	10 151 ,	(4 195) ,
Total Assets	10 605 ,	9 469 ,	16 468 ,	2 163 ,
Share Capital	6 363 ,	5 019 ,	11 674 ,	(3 927) ,
CASH FLOW
Cash used in operating activities	(5 947) ,	(3 094) ,	(3 823) ,	(2 976) ,
Cash used in investing activities	(1 465) ,	(771)	(1 259) ,	(77)
Cash used financing in activities	(161)	9 668 ,	17 504 ,	1 761 ,

(*) Net profit excluding Interest, taxes, depreciation, amortization and share based compensation

(**) The gross loss is mainly drived from production in a semi industrial facility with a capacity of tens of tons per year, the fixed expenses are distributed over a limited production volume. The profitable industrial facility in Europe with a capacity of hundreds of tons per year is expected to produce during the second half of 2023.

NextFerm - Summary

Winning technology platform

Experienced team

Alternative proteinbooming market

Game changing

a vegan protein with neutral taste & animal like nutritional value

Leading value proposition in the global alternative protein market

THANK YOU!

For more information:

Yossio@nextferm.com

www.nextferm.com