The Natural Food Color Revolution

H A L I M J U B R A N , P H D

C O - F O U N D E R & C EO

Legal disclaimer

• This presentation has been prepared by Phytolon Ltd. (the “Company”) solely for informational purposes. The information contained herein has been prepared to assist prospective investors in making their own evaluation of the Company and does not purport to be complete or to contain all of the information a prospective or existing investor may desire. In all cases, interested parties should conduct their own investigation and analysis of the Company and the data set forth in this information. The Company has prepared this presentation based on information available to it, including information derived from public sources that have not been independently verified. The Company makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any errors omissions in, this presentation. This presentation includes certain statements and estimates provided by the Company with respect to the projected future performance of the Company. Such statements, estimates and projections reflect various assumptions by management concerning possible anticipated results, which assumptions may or may not be correct. No representations are made as to the accuracy of such statements, estimates or projections. This presentation may contain statements that are not historical facts, referred to as “forward looking statements.” The Company’s actual future results may differ materially from those suggested by such statements. No assurance can be given that future events will occur or that projections will be achieved. Past performance is not a reliable indication of future performance. This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the Company’s securities, or an offer to sell, or a solicitation of an offer to buy, the Company’s securities in any jurisdiction. Neither this presentation nor anything in it shall form the basis of any contract or commitment. Prospective investors should not construe the contents of this presentation as business, legal, tax, investment or other advice. Each prospective investor should make his, her or its own inquiries and consult his, her or its own advisors as to the appropriateness and desirability of an investment in the Company and as to business, legal, tax and related matters concerning an investment in the Company.

• An investment in the Company shall be allowed only to such number and category of investors in accordance with applicable laws and regulations and pursuant to a predetermined process. Accordingly, detailed information in connection with the investment shall be revealed and delivered only to a limited number of qualifying investors as provided by law.

IMPORTANT NOTICE

P r o m o t i n g HUMAN HEALTH

a n d e nv i r o n m e nta l

SUSTAINABIL ITY v i a

BIOTECHNOLOGY

At a glance

N E E D Food colors that meet both consumer and industry requirements

S O L U T I O N Natural, plant-based colors of supreme quality at low cost

T E C H N O L O G Y Fermentation-based production of colors in yeast cells

S TAT U S Ready to scale with highly competitive colors in multiple food categories

M A R K E T $2.85B in 2019, CAGR 5.8%

B U S I N E S S In-house production of colors with distribution via food-ingredients companies

O U T L O O K 1st launch in 2022, following product completion and regulatory approval

Food colors are everywhere

8 KG / PERSON / YEAR

Consumption of food additives

Current food colors do not meet requirements of both consumers and industry

R EQ U I R E M E N T S

▪ Healthy food▪ Natural ingredients

C O N S U M E R S

▪ High quality▪ Cost-efficiency

I N D U S T R Y

N AT U R A L C O L O R S

▪ Incompatibility ▪ High costs

S Y N T H E T I C C O L O R S

▪ Unhealthy▪ Banned for use

C U R R E N T O F F E R I N G

PLANT-BASED COLORS of SUPREME QUALITY at LOW COST

Our solution

▪ Wide color range ▪ High purity ▪ Water solubility

▪ Natural & non-GMO ▪ Healthy ▪ Betalain-based

Fermentation

Plant genes Baker’s yeast

Technology: Fermentation-based production of colors

Efficient and flexible system for color production in yeast cells

Current colors in market

Synthetic Natural

Natural ingredients

Healthy food

High quality

Cost-efficiency

Saving land resources

Reducing CO2 emission

Uniquely positioned to satisfy both consumers and industry

0.0

0.5

1.0

1.5

2.0

2.5

Competitor1

Competitor2

Competitor3

Competitor4

Competitor5

Competitor6

Beverage Dairy Meat

Co

st in

use

*

Phytolon Competitor

Phytolon’s colors are competitive across food applications

C O M P A T I B I L I T Y I N M U LT I P L E F O O D C A T E G O R I E S

Yogurt

Beverage

Ice-cream

Confectionary

Meat

Bakery

C O S T I N U S E ( C O M P E T I T I V E A N A LY S I S )

* Values are presented in USD-cents

R E L E VA N T TO

References:Color additives and coloring food, Sensient, 2019; Global food colorant market, Mordor Intellegence,2017; Natural food color market, Grand view research, 2015

The food color market: $2.85 BILLION in 2019

20%

23%12%

22%

23%

B Y F O O D C A T E G O R Y

NA, 28%

EU, 35%

Asia, 31%

B Y R E G I O NB Y C O L O R T Y P E

% of total CAGR

Synthetic 31% -0.4%

Natural 69% 5.8%

O F M A R K E T70%

70%

Growing interest from multiple industry leaders

F O O D M A N U F A C T U R E R S I N G R E D I E N T M A N U F A C T U R E R S

I N - H O U S E P R O D U C T I O N O F C O L O R S

F O O D M A N U F A C T U R E R S I N G R E D I E N T M A N U F A C T U R E R S

S A L E S & D I S T R I B U T I O N

S H O R T T E R M A P P L I C A T I O N S M I D T E R M A P P L I C A T I O N S

Dairy Frozen Meat Sweets Beverage Bakery

A P P L I C AT I O N D E V E L O P M E N T : I N - H O U S E & C O L L A B O R AT I O N - B A S E D

Business model and go-to-market

IP and regulatory path

Exclusive license for commercial production of ‘betalain’ colors for multiple applications

P A T E N T A P P L I C A T I O N I N N A T I O N A L P H A S E R E G U L A T O R Y E V A L U A T I O N I N U S A N D E U

Submitted in▪ US▪ EU▪ China▪ Hong Kong▪ India

Submission in US and EU: 2021

“Highly feasible FDA approval as color additive”

Status

G E N E R A L• Established in 2018, Israel• 5 employees

P R O D U C T• Efficient production of colors• Scalability POC• Highly competitive colors in multiple food categories

R E G U L AT O R Y • Full evaluation in US and EU

PAT E N T • In national phase

F U N D I N G• 2018: Seed $1M, The Trendlines Group, Israeli Innovation Authority• 2019: $125K, Sirius Global VC, private investors

S E E K I N G T O R A I S E $ 3 M T O R E A C H P R O D U C T L A U N C H I N 2 0 2 2

▪ P r o d u c t d e v e l o p m e n t▪ R & D c o l l a b o r a t i o n s▪ R e g u l a t o r y e v a l u a t i o n▪ R o u n d A

▪ P r o d u c t c o m p l e t i o n▪ S c a l e u p▪ R e g u l a t o r y s u b m i s s i o n

( U S & E U )

▪ 1 s t l a u n c h ( U S & E U )▪ R e g u l a t o r y s u b m i s s i o n ( A s i a )▪ S t r a t e g i c p a r t n e r s h i p s

2 0 2 1

2 0 2 0 2 0 2 2

Roadmap

Halim Jubran,PhD

C O - F O U N D E R & C E O

Tal Zeltzer, PhD

C H I E F T E C H N O L O G Y

O F F I C E R

SteveDubin

B O A R DD I R E C T O R

Yossi Ackerman

A D V I S O R Y B O A R D

Team and partners

Past CEO at Elbit Systems, expertise in corporate strategy

Past Chairman at Enzymotec,

and CEO at Martek

Biosciences

Sharon Leibovitch

F O O D T E C H N O L O G I S T

Past R&D lead at Soglowek

Adel Zoabi

P R O C E S S E N G I N E E R

BSc (cum laude) in biotechnology

& food engineering

Guy Polturak, PhD

C O -F O U N D E R

& A D V I S O R

Key inventor of Phytolon’stechnology

Specialist in fermentation

& downstream processes

Experienced biotechnologist & project manager

Thank you!

H A L I M J U B R A N , P H D

C O - F O U N D E R & C EO

E M A I L : H A L I M @ P H Y T O L O N . C O M

P H O N E : + 9 7 2 - 5 0 7 - 8 3 3 7 1 4

W W W. P H Y T O L O N . C O M