NextFerm Technologies Ltd. — Investor Presentation 2023

Aug 20, 2023

NEXTFERM TECHNOLOGIES

Leading The Alternative Protein Revolution

August-2023

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

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

Additional commercial Stage Products Above \$3M in POs and supply agreement ProteVin™ based Sports Nutrition formulas were launched by 5 customers in USA & Europe.

AstaFerm®: Novel & Powerful Astaxanthin Antioxidant NextFreeze™ and Biofuel: 2 yeast strains Licensed to Lallemand Inc

4

ProteVin™ - COMMERCIAL STATUS

First launched - June 2022

Above 100 Companies are evaluating ProteVin™ including global food companies.

5 launches with demands for additional material Additional customers are waiting for commercial production to issue PO's for additional launches.

Above \$3M in PO's & Supply Agreement

Launched by 4 customers as Sports powder including wining the Edison Awards and by BON-MUSH, a first EU food producer in spreads

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 (PDCAAS: 1.00)

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

Signing an agreement with Indian yeast producer

An agreement was signed with Kothari, an Indian yeast producer for the establishment of a production line for ProteVin with an initial capacity of ~\$4M/Y

Plant establishment

The equipment purchased by the Company will be installed in an existing plant with existing working equipment that will serve the Company in the production of ProteVin

The establishment is expected to be completed in Q4-2023

Supply from India

Supply ProteVin from the production line in India

PROTEVIN™ KEY GOALS FOR 2023

• 1. Establishing a production plant for ProteVin™ with a capacity of 100s tons per year which will start a full-scale production during 2024; In July 2023, NextFerm has signed a commercial manufacturing agreement for the production of ProteVin™, with a subcontractor in India. The capacity of this stage will enable an annual revenues of around \$4M
• 1. Growing market demands & Additional orders for ProteVin™ in the US, Europe and other territories;
• 1. Industrial fermentation scale-up for the Company's proprietary yeast strain for efficient and profitable production of ProteVin™ and which the Company had filed a patent application during November 2022 in Europe.

Key goals 2022

Commissioning of GFR (*) initial production line

Creating Demands

Growth 1 project

• ProteVin™ regulation IL

(*) The Company had stopped production at GFR and will transfer the production to the subcontractor in India

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

FINANCIAL INFORMATION

Cash & Cash equivalents as of June 30, 2023: ~ \$5.6M

The Cash will serve the company ongoing activities and production increase from tens to hundreds of tons per year

\$36M Raised (2014-2023)

Market

B2C 2021

Public Offering in the TASE (March 2023): Raised \$5M Private Placement (December 2021): Raised \$8M TASE IPO (January 2021): Raised \$11M, Market cap of \$33M Former Equity Rounds (Private investments): Raised \$12M

FINANCIAL INFORMATION

thousands in USD	H1/2023	H1/2022	2022	2021
STATEMENT OF OPERATION
Net Revenues	247	125	262	242
(Loss) Profit (**) Gross	(462)	(86)	(1 122) ,	2 3
Market Operating Loss	(2 307) ,	(3 384) ,	(8 100) ,	(4 467) ,
Adjusted (*) EBITDA B2C 2021	(1 987) ,	(3 021) ,	(7 275) ,	(4 113) ,
BALANCE SHEET
Cash cash equivalents and Short deposits term ,	5 588 ,	7 828 ,	3 024 ,	13 164 ,
Working Capital	3 247 ,	5 842 ,	511	10 151 ,
Total Assets	10 457 ,	12 593 ,	8 093 ,	16 468 ,
Share Capital	6 885 ,	8 406 ,	047 4 ,	674 11 ,
CASH FLOW
Cash used in operating activities	(2 274) ,	(4 010) ,	(7 633) ,	(3 823) ,
Cash used in investing activities	(134)	(1 085) ,	(2 159) ,	(1 259) ,
Cash used financing in activities	4 903 ,	(109)	(212)	17 504 ,

(*) 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 establishment of the profitable industrial facility in India with a capacity of hundreds of tons per year is expected to be finalized during Q4, 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