The project aims to farm 4 species of Caspian sturgeon in closed aquaculture systems to produce meat, caviar, and value-added products for local and international markets. An estimated 700kg of caviar and 20 tons of sturgeon meat will be produced annually. The business requires an initial investment of 1-1.5 million euros for facilities and operations over the first 5 years. Returns are expected within 8-9 years through the high-value caviar and meat sales to luxury hotels, restaurants, and international distributors.

2. 1. Project Description The aim of the project is to farm in closed recirculation aquaculture systems (RAS) 4 species of Caspian sturgeon with the purpose of producing meat, caviar and value-added products for national and international markets. Innovative Project for Algarve & Portugal, with estimated production of 700 kg/year Caviar and 20 ton of sturgeon meat. Relevant data: Species listed in CITES Optimal growth for some sturgeon species 20º- 26ºC. Price of caviar in the international market 1000 EUR/kg . High international demand for caviar / broad market.

3. 2. Business model / Economics/ Facilities Intensive Aquaculture production in closed recirculating systems (1200 m2 ) Need for investment during the first 5 years of the project (1-1.5 million Eur) Total return of investment at 8-9 years High potential for the development of value added products R&D with high ROI

4. 3. Market Market approach: Introduction of the product through gastronomic events and workshops and direct contact with cooks, and international distributors Local, and national : Luxury hotels and restaurants, gourmet shops, catering companies, food distribution/retail companies , direct sale. International markets : International food distribution companies, direct sales online.

5. 4. Promotors Jorge Filipe Raiado – Marketing & Sales Management Degree in History of Arts and post-graduation in Business Management. Starting from youth participated in family businesses from insurances to property. Recently launched Salmarim, a traditional salt production facility and created a new market segment for salt flower with “cuisine chefs”. Paulo Zaragoza Pedro – General & R&D Management Marine biology degree and post graduation in Marine & Coastal Studies Has more than 16 years experience in research projects and strong connection to Universities. A enterperneur with previous experience in building a company. Valeriy Afilov - Operations Management Previous experience as a manager of a sturgeon farm in Ukraine for 11 years. In Portugal during the last 10 years has been working in the construction sphere. He has all the technical knowledge for the project. Dreams about Caviar all day and night.

6. 5. Investment and financing Total Investment : 600.000 EUR (1 year) 500.000 EUR (3-4 year) 100.000 EUR (5 year) Financing : Caviar Portugal Project Investors are welcome! Total 7 years: 1.100.000 – 1.500.000 EUR

7. 5. Investment, Financing & Milestones 2011 2012 2013 2014 2015 2016 August 2011 –Official constitution of Caviar Portugal and beginning of licensing process November 2011 – Construction of the fish tanks and all the productive area. January 2012 – Deployment of the first group of sturgeon fry December 2012 – first meat sell (15 T - 150.000 EUR) December 2014 – first caviar sell (200kg – 200.000 EUR) December 2014 - Start of phase 2 with expansion of tank area (double) 2016, 2017 and following years - Production of 700kg caviar (700.000 EUR)

8. Thank you! For more information please contact: Caviar Portugal [email_address] Centro de Empresas da Universidade do Algarve Pavilhão A5, Campus de Gambelas 8005-139 FARO, Portugal