NextFerm Technologies Ltd. — Investor Presentation 2022

May 23, 2022

NEXTFERM TECHNOLOGIES

Leading The Alternative Protein Revolution

May 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 Protein

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

Commercial Stage Products

Significant Revenue and Profit Potential

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

WORKING TOGETHER FOR OVER 15 YEARS

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

ABOUT NEXTFERM - TECHNLOGY

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Breakthrough Technology

For producing yeast-derived, innovative, functional vegan food ingredients, based on:

• Non-GMO Strain Improvement
• Fermentation Expertise
• Separation and Purification Techniques
• Proven Scale-up Capabilities

BREAKTHROUGH TECHNOLOGY

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

ABOUT NEXTFERM – COMMERCIALIZED PRODUCTS

Commercial Stage Products

ProteVin™: Vegan protein with an animal-like nutritional value and neutral flavor

• Commercial launch expected H1-2022
• Successful Industrial Pilot completed
• First POs from US customers

AstaFerm®: Novel & Powerful Astaxanthin Antioxidant Launched in US & Canada

NextFreeze™ and Biofuel: 2 yeast strains Licensed to

Lallemand Inc., a global corporate specializing in yeast and bacteria. Included \$2.75M down payment

NextFreeze™ Biofuel

ABOUT NEXTFERM – SIGNIFICANT REVENUE AND PROFIT POTENTIAL

Significant Revenue and Profit Potential

Based on its innovative technology and products developed and commercialized, the company expects significant revenue and profit.

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

(*) https://www.bcg.com/press/23march2021-alternative-protein-market-reach-290-billion-by-2035

ALTERNATIVE PROTEIN B2B MARKET IS EXPECTED TO GROW TO \$50B TILL 2035

17.5% CAGR

Alternative Protein Market 2022 Alternative Protein Market 2035

(*) Based on Mckinsey report: https://www.mckinsey.com/industries/agriculture/our-insights/alternative-proteins-the-race-for-market-share-is-on

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 approval

Open for marketing in US, EU and other 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	+	+	+	-

PROTEVIN™ MAIN EVALUATION RESPONDS FROM CUSTOMERS AND

capacity of 10s tons in 2022

expected to start during H2-2022

Towards industrial profitable production in 2023, with the ability to grow

NEXTFERM – ACHIEVEMENTS IN 2021

• Successful Industrial Pilot completed
• First POs from US customers
• Engagement with subcontractor

Novel & Powerful Astaxanthin antioxidant

• Launched in US & Canada

Completed Development of:

• Astaferm® Gummy product supporting the immune system
• Cold water dispersible (CWD) powder application
• Sugar reduced (80%) AstaFerm® gummies

PROTEVIN™ KEY GOALS

FOR 2022 Operation of first manufacturing facility: With a capacity of tens of tons for 2022, GFR Canada (H1-2022).

Launch in USA: Starting supplying first orders (H1-2022).

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

Expansion of production capacity: Reaching industrial and profitable scale of hundreds of tons per year will start during H2-2022. Industrial production planned for 2023, with the ability to grow.

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.

THE STRONGEST ANTIOXIDANT IN NATURE

THE ONLY FERMENTED YEAST BASED ASTAXANTHIN, IS A GAME CHANGER IN THE DIETARY SUPPLEMENTS MARKET

YEAST-BASED ASTAXANTHIN THE STRONGEST ANTIOXIDANT IN NATURE

• For the first time, a flavorless & odorless astaxanthin product, with a competitive price
• Enables market growth through expansion of Commercial sales in the USA & Canada
• Profitable and efficientsupply chain

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Market potential with user expansion

STATUS & POTENTIAL

Launched in the USA (2020)

By several dietary supplement companies including leading market brands

Business progress (2021)

• Launched in Canada
• Distribution agreement with STUABER, a leading US distributor in the dietary supplement market
• Completed Development of:
  • Astaferm® Gummy product supporting the immune system
  • Cold water dispersible (CWD) powder application
  • Sugar reduced (80%) AstaFerm® gummies

Goals for 2022

• Expansion of marketing activities
• New and recurring POs
• Launch of new developed products

PATENTS AND REGULATION

FINANCIAL INFORMATION

\$31M Raised (2014-2021)

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 March 31, 2022: ~ \$11M The Cash will serve the company ongoing activities and production increase from tens to hundreds of tons per year

Main Investors

Market

B2C 2021

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

FINANCIAL INFORMATION

thousands in USD	Q1/2022	Q1/2021	2021	2020
STATEMENT OF OPERATION
Net Revenues	8 4	8 2	242	9 5
Market Profit Gross	1 3	7	2 3	1 9
B2C 2021 Operating Loss	(1 467) ,	(1 090) ,	(4 467) ,	(3 056) ,
(*) Adjusted EBITDA	(1 341) ,	(937)	(4 113) ,	(2 635) ,
BALANCE SHEET
Cash cash equivalents and Short deposits term ,	10 988 ,	9 366 ,	13 164 ,	716
Working Capital	8 445 ,	6 883 ,	10 151 ,	(4 195) ,
Total Assets	14 669 ,	10 840 ,	16 468 ,	2 163 ,
Share Capital	10 174 ,	140 7 ,	674 11 ,	(3 927) ,
CASH FLOW
Cash used in operating activities	(1 813) ,	(956)	(3 823) ,	(2 976) ,
Cash used in investing activities	(244)	(5 822) ,	(1 259) ,	(77)
Cash used financing in activities	(56)	9 742 ,	17 504 ,	1 761 ,

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

NextFerm - Summary

technology platform

Game changing

A vegan protein with neutral taste & animal like nutritional value

Alternative protein-Winning booming market

Leading value proposition in the global alternative protein market

Experienced team

THANK YOU!

For more information: Yossio@nextferm.com www.nextferm.com