YNSECT

How to change the world with insects

Antoine HUBERT, CEO

1
 Ynsect at a glance
A unique value proposition answering current and future worldwide nutritional needs

 An innovative and emerging agro-industrial leader dedicated to insect-based nutrient resources

(proteins, lipids, fertilizers, etc.)
What is
Ynsect ?  An alternative source of protein-rich nutrients for animal feed and potentially human food
 Fish meal: first target submarket due to strong demonstrated protein need

Cereal
by-
products
Feedstock bought Insect-based
Value chain by Ynsect to feed nutrient resources
its insects sold by Ynsect

Suppliers Insect Customers

Insect farming downstream (feed meal formulators
(cereal mills) processing and manufacturers)

 High-quality products / richer in protein (vs. existing sources of animal feed and other insect players)
 Competitive cost-in-use for clients
 Established and highly profitable industrial process
A unique
value  Long-term vision: conceived from day 1 to be a big business with a flexible, automated and scalable technology
proposition  A dedicated R&D department and a global intellectual property protection (products, farming and transformation
processes) to maintain existing competitive edge
 Flexibility on ownership / financing of plants (depending on geographical areas and future partners) to maximize
value for stakeholders

Strictly confidential 2
 Increasing demand for food drives a global protein shortage

… resulting in an
increasing protein
Continuous worldwide … and an increasing
demand for feed, larger
population growth… need for fish and meat…
than supply

9.5bn 48
kg / capita / year(1)

7.6bn

60
38

28
mt
1.6bn 18
/ year
8
1800 1840 1880 1920 1960 2000 2040 1990 2005 2030 2050

Volume missing
Worldwide Meat
from 2025
Population consumption
onwards

Strictly confidential Source: FAO report (1) carcass weight 3

 Fish meal example: key concerns
How to answer the drop in fish meal production and the increase in fish meal price?

Fish meal: raw material facing

Fish meal: a major feed
an expected shortage
ingredient

Worldwide fish meal market (1) (in 2010):

$8.6 bn
m tons 5.5

5.0

Used to feed:
4.5 Shortage
Pigs
4.0 of c.1.5 mt (2)
Chickens 3.5

Others
3.0
2015 2020 2025
Fish
Fish meal demand (high case)
Fish meal production
Fish meal demand (low case)

Substantial Insect meal

price increase addressable market
 Declining fish meal production: - 2 m tons over the last
15 years

$1,800/t 3 mt  Increasing demand due to continuous worldwide

population growth: + 2 bn people by 2050
$513/t
€6 bn
2001 2015

Strictly confidential (1) Lux 2015 research (2) Rabobank 2015 report 4
 First products and markets
In its first development phase, Ynsect is mainly targeting fish feed and pet food
markets

Products Markets TRL(1) Market potential Marketing achievements

+++/++++
Ongoing discussions with industrial players
Fish feed: proteins to replace fish meal 8
Successful tests on trout

Protein meal Sales framework contracts signed with industrial

Pet food: proteins to replace by-products
(finished product
contains over
(bones, viscera, necks, carcasses, etc.)
from poultries, pigs and ruminants
8 +++ / +++ players
Successful tests on pets
70% protein)

Animal feed (especially for juvenile

animals) (e.g. poultry, pig): proteins to
replace fish meal and plant hydrolysates
8 ++ / +++ Successful tests on poultries

Animal feed: natural source of fatty acids,

Oil that may substitute oils and fats used in
animal feed
8 ++ / +++

Fertilizer Agriculture: plant and soil nutrition 8 +/+ Advanced discussions with European clients

 High-quality products (consistent over time and certified)

Ynsect’s products  Competitive cost-in-use for clients
compared to on-  Not affected by seasonality (constant price and volume over the year)
market products
 Blockbuster products / strong performance compared to existing proteins
currently used (e.g. +30% growth for fish)

Strictly confidential (1) Technological Readiness Level ; scale ranging from 1 to 9 Short-term potential 5
Mid- &-long-term potential
 Key milestones
A track record of industrial successes and awards

Industrial
Lab testing Prototype Pilot plants Demo Plant
plant

Last development phase

Industrial key
achievements 2nd rank in world Named in the
finale + people’s 10 best France prestigious
choice award innovation 2015 2015 Global
Outsourced
prototype Cleantech 100
(5 kg protein /
month)

First Test Lab

(<1 kg protein / Best European
Demo Plant(1) - full Industrial plant
month) biotech 2013 Pilot plant 1.0 Pilot plant 2.0 automation (>2,000 t protein
No automation Semi automation (30 t protein / month) / month)
Creation of (10 kg protein / (1 t protein /
Ynsect month) month)

Summer 2017/
2011 2012 2013 2014 2014 2015
2016 2018

Seed, Grants Contemplated

and Innovation Series A + Non equity Series C
fundraising
loan managers funding fundraising
(Series B)
€2.5m €5.8m €5.5m
Partnerships
with renowned
financial
entities at holding level and
+ new financial at plant level
partner(s)

Strictly confidential (1) Demo Plant built & ongoing equipment installation 6
 Ynsect in 10 years: A global feed and food leader

> 100 kt

1 kt Industrial
plants in 10 years

10 t
Demo Plant
The unchallenged
AGRO-INDUSTRIAL
Annual LEADER dedicated to
production Green chemistry, cosmetics,
of larvae 100 kg Pilot plant
human food, etc. insect-based nutrients
per plant
Outsourced
for feed and food
prototypes Other animal feed operating / licensing c.
Lab 40 factories over the
Pet food & fish feed & agriculture world….
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

1 2 >10 >40
...operating on various
Factories end-markets, from fish
feed and pet food to
cosmetics and human
1 >5 food
Species

1 >100 >1,500
Turnover (€m) (1)
Strictly confidential (1) Turnover generated by plants (in case of full ownership) 7
 Ynsect’s team
A dedicated management team supported by AgTech and Biotech focused financial
investors

Visionary and top level founders… …supported by seasoned managers…

Antoine Hubert Fabrice Berro Alexis Angot Jean-Gabriel Levon Thibault Nathalie Berezina Benjamin Armenjon
Du Jonchay
Aged 34 Aged 30 Aged 32 Aged 30 Aged 40 Aged 43
Chief Executive Upstream Chief Chief Financial & Chief Operating Aged 48 Dowstream Chief Head of Marketing &
Officer Scientific Officer Legal Officer Officer Chief Industrial Scientific Officer Sales
Co-Founder Co-Founder Co-Founder Co-Founder Officer

Site Director, Technical Service

Senior IT Project Senior VP Manager-Scientist
Project Senior
Scientist Senior
Manager
Previously:

manager Consultant Scientist

Project Manager
Production
Environment Director
Consultant

22 years of experience 17 years of experience 14 years of experience

Engineering Engineering Bachelor in Engineering PhD

Engineering Food Science
background:

School School Law School Biotechnology

School Engineering
Academic

Chemical school
Environment Applied engineering
mathematics Business Business Business
MsC school
School School School
Chemistry

… have attracted interest from renowned AgTech and biotech

focused financial investors A well-structured organization of 44
employees with 10 nationalities

Strictly confidential 8
Thank you for your attention
www.ynsect.com