Wide Open Agriculture : WOA Growth Catalyst Update

ersonal use only

GROWTH CATALYST UPDATE	ASX: WOA
EUROZ HARTLEYS ROTTNEST ISLAND
INSTITUTIONAL CONFERENCE	FRA: 2WO
9 March 2022
	Australia's leading ASX-
	listed regenerative food
	and agriculture company

ersonal use only

10th

$383k

Q3

FY20

HEALTH & WELLNESS

ON-TREND

F&B BRAND

Q-on-Q growth with growing online sales

$2.28m

$1.68m

$1.42m

$1.13m

$987k

$764k

$571k

Q4	Q1	Q2	Q3	Q4	Q1	Q2
FY20	FY21	FY21	FY21	FY21	FY22	FY22

PLANT-BASED MILKS

CARBON NEUTRAL

OAT MILK

Woolworths, Singapore & HK distribution

agreements

Available in over 500 retail and café locations globally with 1000+ locations forecast by Q4 FY22

New product range includes chocolate, coffee, cold brew and barista versions

PLANT-BASED PROTEIN

LUPIN PROTEIN

All pilot equipment arrived on schedule

Developing high protein oat milk using lupin

Advanced negotiations with potential off-take partners

2

only	WOA has a first mover advantage to develop a proprietary, lupin-
	based protein suitable for numerous food and drink categories with
	forecast market size US$100 billion+
use	Lupin is one of the highest sources of plant proteins available
(40%) combined with a high source of dietary fibre (37%).1
High gelation, no flavour, non-GMO,low GI, easily digestible, high
in essential amino acids and cholesterol free.
ersonal	Current market value of raw lupins is AUD~$200mill with 96%
	consumed by livestock and 60% of global supply produced in Western
	Australia.2
	Low carbon foot-print, low water pollution and integral
	component to build soil health
		WOA's lupin-based protein powder and potential food and beverage applications
(1) lupinfoods.com.au (2) Department of Primary Industries and Regional Development	3

ersonal use only

All equipment received and on track with milestones for commissioning.

Advantages of the facility include;

• Produce quantities for launch of high protein oat milk and new product development off-take agreements.
• In-housedevelopment of plant-based food and beverage products and trade secrets and know-how related to Buntine Protein™
• Enhanced opportunities to identify applications for lupin fibre with strong potential for additional revenue stream
• Opportunity to explore trade secrets and application of the patented technology for other regenerative pulses grown in Australia.

Designed to be a zero-waste facility with multiple income streams

	COST ESTIMATES
	BOARD APPROVAL
	FINALISE PILOT DESIGN
4	COMMENCE CONSTRUCTION (Q3 FY22)
5	INITIAL PRODUCTION (Q1 FY23)
6	PILOT SCALE PRODUCTION (Q1 FY23)

Equipment for the pilot lupin plant at Dirty Clean Food facility in Kewdale, Western Australia

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only	PLANT BASED MILK
Category
use
Products
	OAT MILK		PROTEIN ENRICHED
		OAT MILK
Ingredient	Regenerative Oats		Regenerative Oats +
ersonal			Buntine Protein™
M rket size	US$38 billion by 2024 1		US$38 billion by 2024 1
Development	On Sale Now		Product launch -
Phase		Q2 FY23

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

PLANT-BASED MEAT PLANT-BASED SNACKS PLANT-BASED PROTEIN

BURGER, SAUSAGE,		NOODLES, YOGHURT,		PROTEIN POWDER
CHICKEN & MINCE		CHEESE & MAYONNAISE
Buntine Protein™		Buntine Protein™		Buntine Protein™
US$28 billion by 2025 2		US$73 billion by 2028 3		US$36bn by 2028 4
Under development		Under development		Under development

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