North Country Growers is developing a 20-acre greenhouse facility in Berlin, NH to grow tomatoes and lettuce using combined heat and power technology. The management team has experience in greenhouse operations and power plant management. The project is "shovel ready" with all permits in place and $33.25 million in senior debt committed. The company is seeking $2 million to purchase land and fund engineering and construction management. The Berlin site qualifies as an Opportunity Zone, providing potential tax advantages to investors.

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North Country Growers LLC
July 2018

2. Outline
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1. Who we are and what we do
2. Accomplishments to date and plans for the future
3. Current funding requirements
4. Opportunity Zone program

5. Who We Are
• American Ag Energy, Inc. (“AAE”), Boston, MA, is
in the Controlled Environment Agriculture business.
• North Country Growers LLC (“NCG”) created to
own and operate the greenhouse facility in Berlin,
NH
• Talented engineering staff devoted to the
sustainable production of healthy produce
• Management team experienced in greenhouse
operations and power plant management
• State of the art technology deployed to
operations at scale
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6. Key Personnel: Founders
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• Richard Rosen, PhD, Engineering, and Masters, Forest Science, Harvard
University
• Lifetime grower of vegetables and flowers
• 40 Year career in energy and environment
• Marguerite Piret, MBA and AB, Harvard University
• Expert in finance and operations
• Experienced business executive and director of publicly traded companies
• Harry Lewis, PhD and AB, Harvard University, Gordon-McKay Professor of
Computer Science and Dean of Engineering, Harvard University
• World Class Computer Science Expert and a specialist in information systems
geared towards project control and artificial intelligence
• H. Neil Nichols, Chartered Accountant
• Former Treasurer of Canada Gas and Director of Keyspan
• Expert in the supply of energy in general, and natural gas in particular

7. Key Personnel: Operations
• Nic Helderman, Chief Grower
• Nic has managed greenhouses all over the world, including
Eurofresh Farms in Arizona and Backyard Farms in Madison, ME
• Daniel Eisenberg, Project Manager, Chemical Engineer, MIT
• Samuel Gaeth, Environment and Health Engineer, Tufts University
• Abuubakar Ally, Electrical Engineer, Harvard University
• Daniel Newman, Chemical Engineer, MIT
• Ronald Folger, Security Manager, University of Lowell
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8. What We Do
• Combined heat and power (“CHP”) facilities integrated with controlled
environment agriculture operations to grow produce
 Efficient utilization of electricity, waste heat, and CO2 produced
by the CHP facility
 About 400 kW CHP capacity per greenhouse acre
 Crop varieties with excellent taste and freshness
 Highly automated operations
 Beneficial insects control pests
 Sale to major supermarket
chains and wholesale specialists
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9. Environmental Advantages
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 North Country Grower’s Combined Heat and Power (CHP)
technology results in a significant reduction in energy use by recovering the
waste heat produced during electricity generation and using it to heat the
greenhouses
 CO2 emissions are reduced by greenhouse consumption and fuels not
consumed in transport and heating
 Rainwater is used for hydroponic operations, resulting in no
introduction of waste-water treatment chemicals and no adverse runoff
 Hydroponic fluids are recirculated, eliminating waste water
discharges
 No artificial ripening agents are employed

10. Berlin, NH

11. AAE Past Accomplishments, Current
Activities, and Future Plans
 Berlin, NH:
 Complete management team
 $55.25 million “shovel-ready” project
 20 acres of greenhouses
 8.8 MW of combined heat and power capacity
 All permits in hand
 $33.25 million senior debt committed
 A P&S agreement with the City of Berlin under option
 Qualified Opportunity Zone
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12. AAE Past Accomplishments, Current
Activities, and Future Plans
 AAE plans to finance, construct, and place into operation the Berlin, NH facility
immediately
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Berlin, NH Projections 2020 2021 2022 2023 2024 2025
Revenue
Tomatoes 9,902,653$ 10,101,696$ 10,304,740$ 10,511,866$ 10,723,154$ 10,938,689$
Lettuce 17,100,000$ 17,443,710$ 17,794,329$ 18,151,995$ 18,516,850$ 18,889,038$
Total Revenue 27,002,653$ 27,545,406$ 28,099,069$ 28,663,860$ 29,240,004$ 29,827,728$
EBITDA 11,612,933$ 11,683,593$ 12,105,902$ 12,537,340$ 12,978,096$ 13,428,365$
EBITDA Margin 43.0% 42.4% 43.1% 43.7% 44.4% 45.0%

13.  AAE’s strategy is to engage in two complementary activities:
1. Expand greenhouse facilities, resulting in reliable growing
cash flow
2. Enhance technological edge through development activities
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AAE Past Accomplishments, Current
Activities, and Future Plans

14. • Build 400 acres of greenhouses in New England
• Begin with the Berlin project
• Build several AAE-identified New England greenhouse sites
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AAE Past Accomplishments, Current
Activities, and Future Plans

15. • Develop important agricultural technologies for use in AAE’s operations; initially finance
in part through contracts and grants with participation from major universities and
leading stakeholders in the gene editing and seed development sectors.
• Tomatoes: raise BRIX levels and improve color
• Salad greens: Increase germination rates
• Greenhouse production:
• Develop an intelligent control system to enhance greenhouse production
• Robotics for picking and packing
• Machine learning applications
• Maintain and increase AAE’s technological edge through these efforts
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AAE Past Accomplishments, Current
Activities, and Future Plans

16. The Market
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 The Market for fresh produce in the Northeast is large
 Fresh tomato consumption is ~20 pounds per person per year
 Salad green consumption is ~25 pounds per person per year
 Total consumption of fresh tomatoes in the Northeast is ~1.5 billion
pounds, and total consumption of salad greens is ~1.9 billion pounds
 95% of produce consumed in the Northeast is currently imported
from foreign countries, the West Coast, and Florida
 A 20 acre greenhouse will provide approximately 0.5% of the Northeast’s
demand for fresh tomatoes and 0.5% for salad greens
 The demand for locally-grown produce is increasing rapidly

17. Current Funding Requirements
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 American Ag Energy seeks $2 million immediately to purchase the land in
Berlin, NH and for Engineering and Construction Management
Note: Assumes Euro = $1.20
American Ag Energy Use of Proceeds
Land Purchase or Lease $850,000
Engineering and Construction Management $1,150,000
Total $2,000,000

18. Opportunity Zone Tax Advantages
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Berlin, NH site is an Opportunity Zone.
• 2017 Tax Act
• Incents investment of capital gains in low-income census tracts
Potential Tax Advantages:
• Permanent exclusion from tax of capital gains from investments in
Opportunity Funds held for ten years or longer
• Deferral of capital gains reinvested in an Opportunity Fund until 2026 or
realization
• Step-up in basis for capital gains reinvested in Opportunity Funds by 10%
if investment held for at least 5 years, and 15% if held for 7 years, so
excluding up to 15% of the original gain from taxation.

19. Bonus Depreciation
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Also under the 2017 Tax Act:
• Bonus Depreciation
• 100% of Cost of Qualified Assets
• Taken in first year
• For Berlin, as much as $25 million

20. Investment Opportunity
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 Steady, reliable revenues and cash flow
 Outstanding gross margins
 Locally grown produce year-round
 Fast growing market within one day delivery radius
 Customers eager to make purchase
 Greenhouse and CHP are proven technologies in Europe
 Experienced management
 Local and state government support
 Qualified Opportunity Zone investment possible
 Agritech development with growth
 Socially and Environmentally Responsible AND Highly Profitable

21. CONTACT
Richard H. Rosen
Chief Executive Officer
rosen@americanagenergy.com
Office: (617) 484-3755
Cell: (617) 697-5400
Marguerite A. Piret
Chief Financial Officer
mpiret@newburypiret.com
Cell: (617) 594-8600
American Ag Energy, Inc and its subsidiary North
Country Growers LLC