WIDE OPEN AGRICULTURE LTD — AGM Information 2021

Nov 16, 2021

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AGM PRESENTATION ASX: WOA

17 November 2021

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WOA WAS FOUNDED IN
2015 WITH THE VISION
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THAT REGENERATIVE

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PART OF THE SOLUTION
FOR CLIMATE CHANGE.
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WE ARE NOW AT AN NOW AT AN INFECTION POINT… INFECTION

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ACCOUNTABILITY
FOR THE
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CONSUMERS ARE DEMANDING CHANGE AND ACCOUNTABILITY FOR THE ENVIRONMENTAL ENVIRONMENTAL IMPACT IS BECOMING CRITICAL TO SHOPPING CHOICES COSTS OF FOOD PRODUCTION.

ENVIRONMENTAL

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PRODUCTION.
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WHY HAS THIS CHANGE TAKEN PLACE?

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POPULATION GROWTH IS

DEVELOPING ECONOMIES ARE

ENVIRONMENTAL BANDWIDTH TO

COVID-19 HAS

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INTRINSICALLY LINKED
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OF ALL MAN-MADE GREENHOUSE GAS 33% EMISSIONS ARE GENERATED BY FOOD SYSTEMS.

58% Animal Products 42% Other Food

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“CONSCIOUS CONSUMERS”

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TOGETHER TO SOLVE
WICKED PROBLEMS
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FOOD!
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WOA POSITIONED
TO BENEFIT FROM
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REGENERATIVE FOOD TREND.

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THE FASTEST GROWING

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FOOD SECTORS
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REGENERATIVE AGRICULTURE
1
ECONOMIC RESILIENCY | SOIL HEALTH | REDUCING WATER | BIODIVERSITY
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PLANT-BASED MILKS
2
US$41Bn BY 2025 [2]
PLANT-BASED PROTEINS
3
US$162Bn BY 2030 [1]
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QUARTERLY REVENUE AUD$
1,800,000
$1,671,405
1,600,000
$1,459,365
1,400,000
$1,135,950
1,200,000
$989,261
1,000,000
$764,807
800,000
600,000
400,000
200,000
-
Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22
RETAIL ONLINE FOODSERVICE
& WHOLESALE
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Dirty Clean Food’s digital business continued to gain traction in Western Australia, with sales accelerating by 31% sequentially over Q4 FY21.

During the last quarter the company made key enhancements to its digital properties while continuing to expand its product portfolio, resulting in increased customer usage and conversions.

DCF launched a new vegan oat milk-based ice cream in partnership with Kuld Creamery, which is also available in a growing number of independent retailers in Perth.

31 PERCENT QUARTERLY GROWTH

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SUCCESS

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Certified “Carbon Neutral” by

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National distribution is accelerating as customers love the taste and eco-credentials of OatUP.

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Domestic distribution is expected to double by June 2022.

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The product is positioned to capture share as our beachhead product into Asia.

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We have actively engaged multiple high value markets in Asia.

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Formulation complete on a growing line of products with imminent commercial launch

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READY TO DRINK RTD 200ML
COFFEE OAT MILK ORIGINAL,
(LAUNCH Q2 FY22) CHOCOLATE, COFFEE
DAIRY EQUIVALENT
PROTEIN
AVAILABLE FOR 1L FLAVOR EXTENSION READY TO DRINK
LAUNCH
PURCHASE NOW (LAUNCH Q2 FY22) CHOCOLATE OAT MILK
(Q3-4 FY22)
(LAUNCH Q3 FY22)
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Timings are estimates only and subject to change

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Category PLANT-BASED MILK PLANT-BASED MEAT PLANT-BASED SNACKS					PLANT-BASED PROTEIN
Products	OAT MILK	PROTEIN ENRICHED OAT MILK	BURGER,SAUSAGE, CHICKEN & MINCE	NOODLES, YOGHURT, CHEESE & MAYONNAISE	PROTEIN POWDER
Ingredient	Regenerative Oats	Regenerative Oats + Novel Lupin Protein	Novel Lupin Protein	Novel Lupin Protein	Novel Lupin Protein
Market size	US$38 billion by 20241	US$38 billion by 20241	US$28 billion by 20252	US$73 billion by 2028 3	US$36bn by 20284
Development Phase	On Sale Now	Product concept – Q3 CY21	Under development	Under development	Under development
Competitive Advantage Worlds first regenerative Carbon Neutral Oat Milk High protein content allows the product to out position soy, dairy, almond and traditional oat milk REGENERATIVE CROP REGENERATIVE			HIGH IN PROTEIN & DIETARY FIBRE FREE OF GLUTEN & PHYTOESTROGEN LOW GI & ALMOST NO STARCH NON-GMO AND LOW FAT LOW CARBON FOOTPRINT REGENERATIVE CROP

(1) PV Plant Milk Report (2) Markets and Markets (3) Future Market Insights (4) Grand View Research

EXPLODING AND

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$123bn
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Bloomberg Intelligence, OECD FAO Agricultural Outlook 2021-2030

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3.4gr protein per 100ml 20gr protein per 100ml
REGENERATIVE OATS
We use oats from WA farms
Initial concept design
committed to regenerative principles
and packaging
WA’s oats have a global reputation
for taste and quality
Initial taste and
Oat milk is ranked in the top plant-
sensory testing
based beverages for eco-credentials
NOVEL PLANT-BASED PROTEIN
Refinement of final recipe
Proprietary protein created using
Australian Sweet Lupin.
Launch Q4 FY22
60% of global Lupin supply is
produced in Western Australia. [1]
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(1) Department of Primary Industries and Regional Development

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We are striving for the lowest carbon oat milk in the world through regenerative farming and net zero carbon manufacturing.

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NUTRITION - Higher protein content

The higher protein content is expected to out-position soy, almond and dairy milks which have a higher protein content compared to traditional oat milks.

TASTE - Captures a larger customer base

Potential to gain market share from all milk categories, in particular with customers who have preferences towards ethical food and beverage products.

ENVIRONMENTAL CREDENTIALS - Stands out at point-of-sale

West Australian regenerative oats and carbon neutral certification are set to become a major points of difference for shoppers.

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Results of sampling with 50 people for Oat Milk + Protein (3.4gr/100ml)
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
Appearance Texture Flavour Aftertaste Overall
1 = dislike extremely | 4 = neutral | 7 = like extremely
“I don’t drink much “Delicious. Flavour and
milk but I quite like the texture is preferable to
taste of this” cows milk”
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“The plant-based beverage category has been growing steadily and shows no signs of slowing. This new product concept from Dirty Clean Food is exciting! This oat milk is creamy, super-tasty milk made from regeneratively farmed oats grown right here in WA, so it’s perfectly-aligned with a plant-based lifestyle.”

Fernando Merino

Store Manager – IGA Shenton Park

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Continuing to improve the products taste and mouth feel even further.

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Emission per litre of WOA oat milk
supplied to market (kg CO2 e / Litre)
0.10 0.20 0.30 0.40
TRANSPORT = 0.40
PACKAGING = 0.10
OAT MILK MANUFACTURING = 0.08
Delivers all the protein, calcium
and micronutrients of dairy milk, OAT GRAIN PRODUCTION = 0.06
with less fat and sugar.
OAT ROLLING = 0.01
As a global average, dairy milk is responsible for 1.39 kilograms
of CO2-equivalents to the atmosphere for every liter produced [1] .
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(1) https://blogs.nicholas.duke.edu/citizenscientist/how-green-is-your-milk/

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Become a fully integrated, food and beverage company that captures and shares value to expand regenerative farming practices across Western Australia.

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Become a global leader in climate impact and create the worlds lowest carbon plant-based drinks and protein.

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Future proof our plant-based manufacturing capability with enough scale to satisfy Australian and Asian markets.

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Create new IP and technology for the the production and commercialisation of lupin protein and fibre.

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