Indoor recirculating aquaculture system. Biofloc system. Super-Intensive shrimp production. Organic shrimp farming.

1. 1
C h a n g i n g t h e w a y
p e o p l e g e t
s e a f o o d …

2. 2
Mission
Hours
2
Truly Fresh
… farm to market within hours of harvest,
natural, locally grown, and eco-friendly.

3. ‣ 20+ years in aquaculture,
agriculture and
technology sectors
‣ Super-intensive indoor
shrimp farming industry
experts consulting and
advising
‣ Business + Technology
balanced
3
Mark Chavez Jan Erlich
Aquaculture + Agriculture
Team
Advisory board from the super-
intensive indoor shrimp farm industry
Andrew Ray
Jorge Lango
Scott Fritze
Manuel Poulain

4. ‣ 6-7% YOY growth rates in
aquaculture last 10 years
‣ 15-20B USD global shrimp
industry, 1/3 in Europe
‣ Premium product in niche market
space
‣ Long term and alternative sources
of protein needed and desired
4
Project Motivations
“The World Bank estimates that by
2030, some 62% of the seafood we eat
will be farm-raised”.
Source: BBC News June 2015
“Globally, fish provides more than 2.9 billion
people with almost 20% of their intake of
animal protein”.
Source: BBC News June 2015
2004 2014
64B USD
157B USD
Global Aquaculture Production
Source: FAO

5. Starting in Czech Republic
‣ 220M CZK / 11M
USDValue of shrimp
imported in 2015
‣ 1,730,850 Netto Kgs
in 2015
‣ Shrimp imports
nearly tripled in last
5 years from 70M to
220M CZK
0 CZK
75 000 CZK
150 000 CZK
225 000 CZK
300 000 CZK
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Preserved
Not Frozen
Frozen
Shrimp Imports Czech Republic
Sources: Czech Statistical Office: External Trade Database
220M CZK
(11M USD)
70M CZK
(3,5M USD)

6. Bratislava
Karlovy Vary
Brno
Linz
Market in CEE
6Sources: FAO, Czech Statistical Office
PragueDresden
Munich
ViennaSalzburg
(DE, PL, AU, CZ, SK, HU)
Shrimp Imports CEE
690M USD value
‣Germany 85%
(587M USD)
‣ Austria 7%
(48M USD)
‣ Poland 6%
(41M USD)
‣ Czech Republic 2%
(11M USD)
‣ Hungary + Slovakia <1%

7. Industry
7
Competition in Czech
Republic
‣ 100 in the US
‣ 16 in Europe
‣ Largest in Spain
‣ Closest in
Germany
Indoor Super-Intensive
shrimp farms
Substitutes
(What else?)
Direct
(Who now?)
Indirect
(Who’s next?)
Live/Fresh-
dead/Local
Fish, Other shell fish, frozen shrimp, lean beef,
bio lean beef
Fresh fish
producers

8. Business Model
Direct to Consumer / Farm to Market
Home
Consumers in CZ
Scale up
Upscale Restaurants +
Farmer’s Markets
Build Brand
Hours
Volume
Wholesale +
Hypermarkets
Year 3Start-up - Year 2 Year 5

9. Technology
• RAS (Recirculating Aquaculture System)
with minimal exchange
• Underground fresh water (Czech
aquifer), add salt to make seawater
• Biofloc technology (BFT)
• Biogas heating source (No fossil fuels)
• High stocking densities (3-7 kg/m3)
• Using “technical blueprint” from industry
technology leaders
• Waste water treatment (No
environment impact)
9
Shrimp
LifeCycle
Hatchery * Nursery
* Grow-Out
Maturation/
Broodstock
* Decapoda farm

10. Investment overview
10
Q3 2016
TOTAL 7M Kc
Q3 2017
Scale up
Q4 2017Q4 2016
< cycle 1 >
Q1 2017 Q2 2017
MVP completed
Operating 12 months Operating: 6 months
TOTAL 12.6M Kc
< cycle 2 >< cycle 3 >
7M
Kč 12.6M
Kč
• 20M CZK (7M CZK seed start-up)
• NPV = 20%
• 30-40% profit margins starting in
YR3
Seed fund
A round
1M Kč
10M Kč
17.4M Kč 17.4M Kč
18.5M Kč 18.5M Kč
20
tons
12
tons
22
tons
22
tons
20
tons
2-3
tons
YR1 YR2 YR3 YR4 YR5 YR6Start-up
Weighted Avg. Price = 784 - 866 Kč / Kg
Cost = 450 Kč / Kg

11. 1. Scaling inYR2 andYR3
2. Equipment failure
3. Super intensive system (higher
density, higher risk)
4. Consistent supply of PLs
(postlarvae)
5. Shrimp virus leads to shrimp
mortality
11
Operating Risks
1. 2-3 cycles of demonstration system
2. Alarm/control system, backup
generator
3. Proper system design
4. Agree on monthly/annual contract
with supplier
5. Bio-security, Standard Operating
Procedures, manage with biofloc
water management
Risks Mitigation Planned

12. Investment detail
12
Seed round
‣ 7M CZK for 30% of Decapoda
‣ CAPEX 2.3M CZK
‣ OPEX 4.7 CZK (cost for 12 months of operating)
‣ Includes 20% contingency
‣ Production: 2-3 metric tons
Series A
‣ 12.6M CZK for 30% of Decapoda (if same investor 51% of Decapoda)
‣ CAPEX 6.8M CZK
‣ OPEX 5.8 CZK (cost for 6 months of operating)
‣ Includes 15% contingency
‣ Production: 12 tons during 1st year, then 20 tons annually

13. Exit Scenarios
13
5 Years
‣ Strategic Buyers of Decapoda
- Sell Decapoda to domestic fishery (diversify portfolio)
- Sell Decapoda to seafood distributor
- Sell Decapoda to health tech company
- Sell to international traditional shrimp farm
‣ Licensing or Franchising Model
- Commercial
- Governments
20202019201820172016 2021

14. 14
Thank You!

15. Market Size Czech Rep. calculation
• Total Available Market (TAM) = 500M CZK [Units = 1,130 metric tons x 440 CZK (import price of
177 CZK x 2.5 = approx. 440 CZK retail price)]
• Served Available Market (SAM) = 95M CZK [Units = 214 metric tons x 440 CZK (import price of
177 CZK x 2.5 = 440 CZK retail price)]
• Size Of Market (SOM) = 20M CZK (<4% of TAM)
500M
CZK
95M
CZK
20M
CZK
Total Available Market (TAM)
Served Available Market (SAM)
Size Of Market (SOM)
All types (frozen, not frozen, preserved)
Not frozen
Truly fresh

16. Mark’s vision
16
10 years
‣ 3 years
‣ 15 metric tons per year on a sustainable basis
‣ Shrimp Republic an established brand
‣ 5 years
‣ Double production, license technology and know how to farms in Central & Eastern
Europe
‣ Technology development will include RAS processes, web based control system (HW &
SW), traceability SW, inventory system, data management on line
‣ Shrimp Republic retail chain
‣ 10 years
‣ Affordable fresh shrimp to the Czech consumer
‣ 100 tons delivered “fresh dead” and “fresh frozen” to CEE
‣ The new Christmas tradition in the Czech republic
5 years3 years

17. Press mentions

18. Product
‣ Pacific White Shrimp
‣ Native to the Pacific ocean (warm
waters)
‣ Most widely researched, developed
and farmed shrimp species globally
‣ Superior in taste to Penaeus
monodon (Black Tiger Prawns) and
cost less to grow
‣ Contains more consumable meat
than Penaeus monodon (Black Tiger
Prawns)
‣ 16.5g - 30g market sizes
18