Exhibit 99.2

I N V E ST O R P R E S E N T A T I O N F E B R U AR Y 2022

I M PO RT A N T I N F O R M A T I O N This Presentation and its appendices(hereinafter referred to as the "Presentation") has been prepared by Kalera AS ("Kalera" or the "Company", and together with its subsidiaries the "Group"). This Presentation hasbeenprepared exclusively for information purposes and does not constitute an offer or an invitation to subscribe for or purchase any Shares or any other financial instruments and should not be considered as a recommendation by the Company or any advisor appointed by the Company that any recipient of this Presentation should subscribe for or purchase any Shares. Each recipient of this Presentation shall be taken to have made its own investigationand appraisal of the condition (financial or otherwise) of the Company. The distribution of this Presentation and the offering, subscription, purchase or sale of securities issued by the Company in certain jurisdictions is restricted by law, including but without limitation to the United States. Persons into whose possessionthis Presentation may comeare required by the Company to inform themselves about and tocomply with all applicable lawsand regulations in force in any jurisdiction in or fromwhich it invests or receives or possesses this Presentation andmust obtain any consent, approval or permission required under the laws and regulations in force in such jurisdiction, and neither the Company or any of itsemployees and representatives shall have any responsibility or liability for these obligations. This Presentation includes and is based on, among other things, forward - looking information and statements (including expenses, earnings, liquidity, cash flow, capital expenditures, annual output, production capacity, sales, improvements over time, investments, operational losses, ramp - up times and buying power). Such forward - looking information and statements are basedon the current expectations, estimates and projections of the Company or assumptions based on information available tothe Company. Such forward - looking information and statements reflect current views with respect tofuture events and are subject to risks, uncertainties and assumptions, and involve knownand unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or industry results, to be materially different from those expressed or implied by these forward - looking statements. These forward - looking statementsare based on numerous assumptions regarding the Group’s present and future business strategiesand theenvironment in which the Group’s expect to operate in the future. The Company cannot give any assurance as to the completenessor correctness of such information, assumptions or statements. Any forward - looking statements made by the Company speak only as at the date they are made. The Company doesnot undertake to update forward - looking statementsto reflect any changes in their expectations with regard thereto or any changesin events, conditions or circumstances on which any such statement is based An investment in the Company's shares (the "Shares") involves a highlevel of risk, and several factors could cause the actual results, performance or achievements of the Company tobe materially different from any future results, performance or achievements that may be expressed or implied by statements and information in this Presentation, including, among others, risks or uncertainties associated with the Company's business, segments, development, growth management, financing, market acceptance and relations with customers, and, more generally, general economic and business conditions, changesin domestic and foreign laws and regulations, taxes, changesin competition and pricing environments, fluctuations in currency exchange rates and interest rates and other factors. Should oneor more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this Presentation. An investment in the Shares is suitable only for investors who understand the risks associated with this type of investment and who can afford a lossof all or part of their investment. A prospective investor should perform its own review, investigationand analysis of the Group, its assets, financial performance and prospects, taxation andlegal aspects, and obtain and review such additional information or documents, as the prospective investor deemsappropriate. This Presentation includes certain “non - GAAP financial measures” as defined in Regulation G under the Securities Exchange Act of1934, as amended. Schedules that reconcile the non - GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP are included in the final slide to this presentation. The non - GAAP financial measures should not be construed as an alternative to the financial measures presented in accordance with GAAP. It should be noted that companies calculate non - GAAP financial measures differently; as a result, the non - GAAP financial measures presented herein may not be comparable to similarly - titled measures reported by other companies or to similarly - titled measures for the Company. This Presentation is not to be construed as legal, business, tax or accounting advice, and each recipient should seek independent advice on these or other aspectsof the Presentation and the information contained herein. This Presentation is not a prospectus or an offering circular. The Presentation has not been filed with or approved by any state or federal securities authority. No federal or state securities authority has reviewedthe adequacy or accuracy of the Presentation, or the merits of the s e c u r i t i e s d e s c r i b e d h e r e i n . The Company does not intend, anddoes not assume any obligation, to update or correct the information included in this Presentation. There may have been changes in matters which affect the Company subsequent to thedate of this Presentation. Neither the issue nor delivery of this Presentation shall under any circumstance create any implication that the information contained herein is correct as of any time subsequent to the date hereof or that the affairs of the Company have not since changed, and the Company does not intend, and does not assume any obligation, to update or correct any information included in this Presentation. The contents of this presentation are not to be construed as legal, business, investment, tax or other professional advice. Each recipient should consult with its own legal, business, investment and tax adviser as to legal, business, investment and tax advice. The Company expressly disclaims any liability whatsoever towards any recipient of this Presentationin connection with thematters described herein. Any person acceptingdelivery of this Presentation or who otherwise receive it, agrees tokeep the Presentation, all of the information it contains and any oral information received in connectionwith the Presentation strictly confidentialand will not distribute, publish, disclose or r e p r o d u c e any of i t s c on t e n t . This Presentation is subject to Norwegian law, and any dispute arising in respect of this Presentation is subject to the exclusive jurisdiction of Norwegian courts. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 2 Disclaimer

01 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 3 RODUCTION

T o d a y ’ s P r e s e n t e r s BRENT DE JONG Chairman & CEO FERNANDO CORNEJO Chief Financial Officer AUSTIN MARTIN Ch i e f O p e r a t i n g O ff i c e r DR. JADE STINSON P r e s i d e n t & Co - F oun d e r of Vindara DR. HENNER SCHWARZ Ch i e f Co mm e r c i a l O ff i c e r CURTIS MCWILLIAMS I n t e r i m C h i e f E x e c u t i ve O ff i c e r BRIAN ZATARAIN Director © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 4

Agrico Brings Depth of Leadership and Experience B R E N T D E J ONG , C ha i r m a n & C E O Managing Partner at De Jong Capital; Chairman at Emergent Technology Previously Partner and Head of Special Situations at Castlelake (Chairman of Itafos) Director & Advisor at RA Holdco; Head of Special Situations & Investment Committee Member at Ashmore B R I A N Z A T A R A I N , D i r e c t o r Operating Partner at De Jong Capital and U . S . Grid Company Previously CEO at Itafos ; Executive Vice President of Development & Chairman of Investment Committee at AEI Board & Advisor Experience L e a d e r s h i p T e a m Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 5 Agrico Overview Agrico Acquisition Corp. (Nasdaq: RICO) is a $147mm publicly traded SPAC 100+ years of public and private company investing and operational experience spanning diverse industries and geographies Extensive transaction expertise with 250+ closed transactions in 50+ countries aggregating $33bn+ in total transaction value Vast network, trusted relationships and “win/win” approaches Significant corporate governance base with directors and executives who ha v e wo r k e d i n p u b li c an d p r i v a t e c o m p an i e s

Platform Builders with a Track Record of Value Creation Agrico Highlights Platform builders and cohesive team with a diverse and successful track - record of value creation Significant tailwinds with a robust opportunity set across AgTech verticals Committed to ESG performance with a particular focus on sustainable growth Competitive vehicle to leverage team’s strengths in an industry with capital scarcity Defined investment strategy with disciplined investment process and proprietary deal flow 1 2 3 4 5 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 6

L e a d i n g V e r t i c a l F a r m i n g P la t f o rm Kalera Investment Highlights Portfolio of great - tasting, healthy and sustainable products supported by a leading technology stack Scalable business model accessing local markets with a global footprint Large and actionable pipeline of new facilities including 6 in construction World class leadership team fully committed to the highest ESG standards Compelling economic profile with more efficient capex per lb. of annual output and output per facility sq. ft. vs. peers #1 #2 #3 #4 #5 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 7

T r a n s a c t io n O v e r v i e w Overview $147mm cash in trust from Agrico Acquisition Corp. (Nasdaq: RICO) $100mm minimum cash condition to closing Use of proceeds: growth capital and general corporate purposes Valuation $ 3 75 m m p r o f o r m a e q u i t y v a l u e Exchange ratio of 0.091 for existing Kalera shareholders Based on Kalera 30 - day VWAP of 9.99 NOK (1) O w n e r s h i p ( 2 ) ( 3 ) 52 % e x i s t i n g K a le r a s ha r e ho l d er e q u i t y r o ll o v er 48% Agrico Acquisition Corp. investors including founder shares Kalera Contingent Value Rights equal to 10% of pro forma shares based on agreed strike prices Sponsor promote clawback of up to 50% Source: Company information. 1) As of 1/28/22, also reflecting the impact of transaction expenses and the sponsor promote – see Footnote (2). 2) Based on $10 share price of RICO, 14.4mm SPAC shares outstanding, 3.6mm sponsor promote shares and calculated using Kalera 30 - day VWAP of 9.99 NOK assuming 209.4mm Kalera basic shares outstanding, issuance of 2.1mm shares related to Vindara, and 4.0mm in - the - money options, which implies a 0.091 exchange ratio of Kalera existing diluted shares to pro forma shares in combined company. 3) Existing Kalera Shareholders to receive additional 5% of pro forma shares when stock trades above $12.50 and again at $15.00 for 20 trading days within a 30 trading - day period based on VWAP. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 8

02 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 9 ADING VERTICAL MING PLATFORM

Cut Leaf Romaine Butterhead/Bibb Crispy Frisee M u l t i le a f B a b y L e a f & M i c r o g r ee n s Spinach Cilantro Arugula Mustard greens K a le A s i a n m i x es M i z un a M i c r o g r een m i x es Basil Portfolio of Fresh, Great Tasting, Healthy and Sustainable P r o d u c t s S ol d U n d e r t h e K al e r a B r an d #1 Source: Company information. Whole Head Harvest - on - Demand Butterhead/Bibb Multi leaf Romaine Frisee O a k le a f M i n i gem Crispy Lollo Lettuce Oak leaf Mustard Basil Pak choi Cilantro Arugula Living Lettuce and Greens © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 10

K al e r a ’ s R o m a i n e I s N u tr i e n t D e n s e C on v e n t i ona l Romaine Kalera R o m a i n e % N U T R I E N T INCREASE Vitamin A/Beta Carotene 6 mcgRAE 15 2 mc g R A E Vitamin K 7 9 m c g 23 0 mc g Lutein & Zeaxanthin 80 6 m c g 33 6 1 mc g F o l a t e 2 1 m c g 3 2 mc g Potassium 22 6 mg 3 9 1 mg 25x 1 90 % 320% 52% 73% Magnesium 1 3 mg 2 2 mg 69% C a l c i u m 2 7 mg 5 4 mg 1 00 % N u t r i e n t Dense Non - GMO P e s t i c i d e Free Improved Food Safety No Fertilizer Run - Off #1 1) Preliminary tests only as future tests may have varying results. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 11 Source: M é rieux NutriSciences and Company information. Preliminary tests indicate superior nutritional content in Kalera romaine vs. conventional romaine (1) F r es hn es s i s a k e y d r i v e r i n romaine nutritional content Kalera’s “Local Living Lettuce” is still alive with the root ball attached when sold We believe our “Local Living Lettuce” is differentiated not only in terms of nutrient content but also in taste, texture and shelf life

L e a d i n g T e c h no l o g y A u t o m a t e d I n tr a - logistics System P r o p r i e t a r y Genetics ( N o n - G M O ) P l u g s D r y p on i c s B e s t p on i c s H y Cu b e O S Full Climate Con tr o l D e p l o y i n g Climate Cells Lighting Knowledge A u t o m a t e d Processes S e r vi c e - O r i e n t e d Software Architecture Seeds Substrates Intralogistics I rr i g a t i o n an d Nutrient Mgmt HVAC Light Processes Software Whole Head Lettuces B a b y L e a f Lettuces S p i na c h Microgreens Arugula Other A s i a n G r ee n s Product M a pp i n g Competency Intellectual property from Seeds to Software #1 Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 12

Database tracks physical measurements (e.g. diameter, nutritional density, etc.) and sensory properties (e.g. flavor, texture, color, etc.) of produce varieties Data used to train proprietary Machine Learning models that predict the genetic underpinnings of new varieties, dialed in with a precise set of desired properties V i n d a r a D r i v e s T r a n s f o r m a ti o na l S ee d I nno v a ti o n Big Data and AI - Driven Seed Development Control Panel for Genetic Varieties Cross - Breeding 5x Faster R o m a i n e L e tt uc e C a s e S t u d y : V i n d a r a S ee d s B oo s t e d M a s s b y 5 0 % ( 2 ) Color, texture, flavor, and nutrient profile are subjective, and influenced by a range of cultural and generational traditions Vindara provides flexibility to growers to respond to these pressures with agility and precision Facilitates a control panel for designing the p r o d uc e o f t o m o rr o w — b u il t t o s p e c an d b r ou g h t to life with unprecedented speed Off the Shelf Variety 1 Off the Shelf 1.5 ï F r e s h m a s s v s . Commercial average 5 - 7 y e a r s 1 - 1 . 5 y e a r s ( 1 ) F l a v or Color N o. of l e a v e s T e x t u r e Nutrients H e i g ht Source: Company information. 1) For leafy greens. #1 B ig D a t a Variety 2 2) Testing performed in - house at Vindara. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 13 Machine Learning Models

Technological Differentiation Protected through Growing Intellectual Property Proprietary Seed Science AI - driven accelerated seed development platform optimized seeds with amplified yields, nutrition and flavor Proprietary Plant Science Optimized nutrient management, light recipes, climate control optimized grow media Deep Technology Stack Advanced process automation with IoT, Big Data and AI capabilities P l an t S c i e n c e S ee d S c i e n c e Engineering #1 P EN D I N G 2 Invention Disclosures Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 14 16 & GRANTED

Validated by blue chip food service and retail channel partners and customers 1,000+ Total Number of Stores B l u e C h i p P a r t n e r s R a p i d l y S c ali n g B u s i n e s s M o d e l H i g h e s t Q u a li t y P r o d u c e Delivering a portfolio of great - tasting, healthy and sustainable products Bibb Oak Leaf Romaine Mini Gem Lollo Rainbow Daikon Onion Cilantro Basil #2 Gl o b a l Op e r a t i on s Kalera builds, owns and operates capital - efficient vertical farming facilities 4 L a r g e - S c a le O p e r a t i ona l Facilities 6 Large - Scale F a c ili t ies un d er C on s tr u c t i o n US Europe M i dd le Ea s t Asia Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 15

G lo b a l P o r t f o li o o f 1 0 F a c il i t i e s an d G r o wi n g # 9 S a i n t P au l , M i nn e so t a #1 0 Co l u m b u s , O H # 1 1 C e n tr a l Fl o r i d a ( 1 ) Expected Annual Output: ~ 2 . 0 m m l b s . ~ 3 . 3 m m l b s . ~3.3mm lbs. Operations Starting Date (Est): 1 H 202 2 1 H 202 3 2023 #1 Orlando, Florida # 2 A t l an t a , G e o r g i a # 3 H ous t on , T e x a s #4 Kuwait Expected Annual Output: ~0.8mm lbs. ~2.6mm lbs. ~3.3mm lbs. ~ 280 K l b s . Operations Starting Date: February 2020 April 2021 September 2021 March 2020 # 5 D e n v e r , Co l o r a d o #6 Seattle, Washington #7 Honolulu, Hawaii #8 Singapore Expected Annual Output: ~2.9mm lbs. ~2.7mm lbs. ~ 1 . 3 m m l b s . ~ 610 K l b s . Operations Starting Date (Est): 1H 2022 1H 2022 2H 2022 1H 2022 In Operation Under Construction (2021 - 2022) United States EMEA and Asia #2 Source: Company information. 1) Potential sites currently being evaluated. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 16

Kuwait S i n g a p o r e Munich (3) Orlando (2) A t l an t a S e a tt l e D e n v e r S t . P au l Co l u m b u s Houston Honolulu Production Capacity (1) Expected to Reach ~17mm lbs. in 2022 Strategically Positioned Facilities to Address Attractive Global Markets Source: Company information. 1) Production Capacity is the percentage of total facility capacity currently utilized to grow plants in a given time period. 2) Kalera headquarters. 3) Kalera Europe, Middle East, Africa and SE Asia office. Operational farms Under construction farms Grow Tower site 1 7 m m l b s . e q ua t es t o ~ 7,80 0 m t , o r ~ 0 . 03 % o f 2 01 7 w o r ld le tt u c e p r o d u c t i o n v o l u m e o f 2 7 m m m t (4 ) #2 4) IndexBox, World - Lettuce And Chicory - Market Analysis, Forecast, Size, Trends and Insights, 2019. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 17

Source: Company information. 1) Production Capacity is the percentage of total facility capacity currently utilized to grow plants in a given time period. 2) Throughput yield is the percent of production capacity of plants that meets or exceeds quality standards and are ready for sale. F a c il i t i e s O p e r a t i n g R e li a b l y Acceleration Levers #2 Large Scale Facilities on Track to Meet Production Capacity (1) Targets and Throughput Yields (2) H ou st o n F a c ili t y C o mm i ss i on i n g P r o c e s s 83% 83% 83% 83% 83% 60% 60% 60% 92% 86% 72% 50% 53% 55% 60% 65% 60% 67% 70% 75% 80% 85% 52% 75% 70% 62% 68% 4 0 % 4 5 % 5 0 % 5 5 % 6 0 % 6 5 % 7 0 % 7 5 % 8 0 % 8 5 % 9 0 % 0% 1 0 % 2 0 % 3 0 % 4 0 % 5 0 % 6 0 % 7 0 % 8 0 % 9 0 % 1 0 0 % O c t N o v Dec Jan Feb M o d e l : P r o d u c t i o n C a p a c i t y ( % of M a x i m u m C a p a c i t y) Model:Throughput Yield (% of Production Capacity) J u n J u l Throughput Percent of Production(Actual) Capacity (1)(3) P e r c e nt of M a x i m u m C a p a c i t y ( 2 ) Mar Apr May HOU Production Capacity HOU Throughput Yield (% of Production Capacity) Expected ramp - up time reduced to 6 months for all new facilities opened 2023 and beyond Standardization of new design leads to more predictable system performance and faster ramp - up Target throughput yield (2) achieved in 6 months resulting in lower ramp - up costs Similar improvement and acceleration patterns can be observed in other industries 3) Maximum Capacity is the facility yield capacity if all available production systems for growing plants are 100% utilized. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 18

3 7 10 10 10 10 3 6 7 1 2 2 2 2 2 4 11 20 28 4 9 16 26 38 47 St r on g G r o wt h T r a j e c t o r y 2023 2025 20 2 1 2022 20 2 4 Target # of Revenue Generating Large - Scale Facilities by End of Year International US 14 24 14 21 12 18 12 15 12 12 # M on t h s S a l e s R a m p - u p D u r a t i o n ( 1 ) Intl. new Intl. live or announced US new US live or announced P ha s e 1 P ha s e 2 P ha s e 3 #3 Source: Company information. 12 1) Duration of sales ramp - up to 88% of theoretical sales capacity (100% of business plan). © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 19 12 2026

Grow Box Direct to consumer Individual store solution – “harvest on demand” Alternative for retailers looking to deliver fresh produce HyCube + Grow Tower U p t o 30 k – 40 k l b s p e r y e a r A l l k i n d s o f f u l l h e a d l e a f y g r ee n s A ll o w s v e nu e s t o sho w c as e sus t a i na b l e g r o w i n g m e t ho d s C a p E x : $13 m m - $26 m m S i z e : ~ 75 k – 136 k s q f t . Up to 3.5mm lbs per year (1) A l l s eg m e n t s o f l e a f y g r ee n s High level of automation and high - density rack system Ca p E x : < $13 m m S i z e : < 75 k s q f t . U p t o 1 . 5 m m l b s p e r y e a r A l l s eg m e n t s o f l e a f y g r ee n s High level of automation and high - density rack system Large - Scale Facility Other Models to Meet Smaller Demand Primary Growth Vehicle Smaller Large - Scale Facility F o c u s o n L a r g e S c al e F a c il i t i e s Source: Company information. #3 1) Depending on crop type. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 20

M o d u l a r D e s i g n Ena b l e s R a p i d D e p l o y m e n t S i t e s ele c t i o n – s tr a t egi c a lly l o c a t ed n e a r u r b a n p o p u l a t i on s Buildings - existing warehouses that are retrofitted and leased or purchased, or are built - to - suit Established supplychains – defined CapEx, availability of equipment on - time, on - budget without bottleneck issues Replicable scaling – existing design, installation, lease agreements and work relationships with architects and design companies Construction time for a large facility is typically 10 – 13 months (currently experiencing some supply chain delays) Rapid Roll - Out Capabilities Modular designs – based on components that can be reused in various configurations Energy efficient design – optimized temperatures, humidityand reduced heat loads Q u i c k i n s t a ll a t i o n an d s e t - u p s Standardized equipment – shorten lead times and internal review Design teams – architectural space management, internal infrastructure, value engineering and design/planning, sustainability, government relations Efficient Design ~ 1 0 - 1 3 m on t h s Modular Design, Buildout and Installation Site Transformation #3 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 21 Source: Company information.

En d o f 202 5 ( 1 ) F a r m o f F u t u r e ($USD) Sell Price/lb. (2) $6.68 Cost (3) $3.21 Margin $3.47 Packaging $1.39 EBITDA $2.07 E B I T D A M a r g i n 31.0% $3 . 3 2 / f a c ili t y End of 2025 Farm of the Future $6.65 /facility End of 2023 Houston C o m p e l lin g E c ono m i c P r o f il e Source: Company information. 1) Stabilized farm. 2) Blended price. 3) Excludes packaging costs. 4) See final slide for EBITDA reconciliation. 2 1 . 5 % E BI T D A M a r g i n 3 1 . 0 % En d o f 202 3 H ou s t o n ( 1 ) ($USD) Sell Price/lb. (2) $5.51 Cost (3) $3.58 Margin $1.93 Packaging $0.74 EBITDA $1.18 E B I T D A M a r g i n 21.5% F u l l h e a d an d c u t l e a f pr o d u ct i o n Full head, cut leaf, baby leaf, microgreens production #4 Facility Unit Economics ($/lbs.) Facility EBITDA (4) ($ in millions / % EBITDA margin) © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 22

4 . 7 1 6 . 8 K a l e r a S e l e c t e d C o m p e t i t o r A v g . O u t p u t (L b s / Y r ) pe r F a c ili t y s q f t . Source: Company information. 1) Based on publicly available information, industry average weighted by total production facility size. 2) Output per facility size KPI normalized to a standard 32 - feet high warehouse and includes total facility sqft. (grow room + operations & logistics space) averages weighted by facility. A L e a d e r i n C a pi t a l E f f i c i e n c y Kalera is one of the leaders in CapEx per Lb of Annual Output (1)(2) ROI - driven automation adoption – most labor intensive operations automated first, after careful analysis of benefits vs. costs Careful standardization of key equipment to avoid over - engineering but still maintaining technology advantages In - House only hardware/software related to Kalera competitive IP: nutrient management, process automation, AI, etc. E s t a b li s h ed k ey s u pp ly c ha in r el a t i o n s h i p s Kalera is one of the leaders in the vertical farming industry in production output per facility size (1)(2) – Lbs/sqft. One of the leaders in yieldsper growing area (Lbs/sqft. of growing area/Year) Cost - effective solution for maximizing growing area in the facility Lower Ca p E x H i g h e r Y i e l d s 38 26 K a l e r a S e l e c t e d C o m p e t i t o r A v g . #4 C a p E x pe r L b o f A nn u a l O u t p u t ( $ ) © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 23

P e r f o r m an c e E x p e c t e d t o I m p r o v e O v e r T i m e Distribution grows with new customers and more stores per customer Sa les p er s t o r e r ise w i t h m a r k e t i n g t o c on s u m e r s Effective capacity per farm increases with improving growth rates and yields Average selling price rises after introductory offers and brand building Ea c h n ew f a r m i n c o r p o r a t es le a r n i n gs f r o m p r i o r f a r m s Buying power grows as scale increases; fixed costs as a % of sales decline Growth rates, yields and seed costs improve with leveraging of Vindara’s seed technology Labor costs decline with leveraging of &ever’s automation technology Cost of equity improves with Nasdaq listing and steadily improving results More efficient capital structure as business matures and generates predictable, growing cash flows Number of farms increase with build out of the US, Middle East, Southeast Asia and new markets Sales Per Farm Expected to Increase Number of Farms Expected to Increase O p e r a t i n g C o s t Expected to Decrease Cost of Capital Expected to Decrease 1 2 3 4 #4 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 24

W o r l d C l a s s L e a d e r s h i p T e a m Dr. Jade Stinson, PhD President & Co - Founder o f V i n d a r a Dr. Jan - Gerd Frerichs EVP Software Aric Nissen C h i e f M a r k e t i n g O f f i c e r Fernando Cornejo Chief Financial Officer Dr. Cristian Toma, PhD Chief Science Officer and Co - Founder D r . H e nn e r S c h w a r z Chief Commercial Officer Austin Martin Chief Operating Officer Dr. Heiko Hosse C h i e f T e c hno l o g y O f f i c e r Curtis McWilliams Interim Chief Executive Officer K e r i G as i o r o w s k i Chief Human Resources Officer #5 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 25

Experienced Directors for Combined Company Board Kim Lopdrup Board Director (Chairman Elect) (1) R e t i r e d CE O o f R e d L o b s t e r F o r m e r C O O o f B u r ge r K i n g N . A . an d C E O o f Dunkin’ Brands Intl. Business B eg a n c a r ee r i n b r an d m ana ge m e n t a t P &G ; ha s 30 + y e a r s o f e x p e r i e n c e i n r e s t au r an t b us i n e s s Maria Sastre Board Director On boards of General Mills, O’Reilly Auto Parts, Guidewell Holdings, Miramar Services and Helios Education Foundation 20+ years experience in mergers/integrations Curtis McWilliams Board Director Elect Chairman of Ardmore Shipping 25+ years experience in public and private company governance S onn y P e r d u e Board Director F o r m e r U S S e c r e t a r y o f A g r i c u l t u r e Former Governor of Georgia and Georgia State Senator Andrea Weiss Board Director Elect Founder and CEO of The O Alliance, a consulting f i r m f o c us e d o n d i g i t a l tr ans f o r m a t i o n B oa r d m e m b e r o f C r a c k e r B a rr e l O l d Coun t r y S t o r e , R P T R e a l t y , O ’ R e ill y A u t o P a r t s an d B e d Bath & Beyond Brent De Jong Board Director Elect M ana g i n g P a r t n e r a t D e J on g C a p i t a l ; C ha i r m a n a t E m e r ge n t T e c hno l o g y P r e vi ous l y P a r t n e r an d H e a d o f S p e c i a l Situations at Castlelake (Chairman of Itafos) D i r e c t o r & A d vi so r a t RA H o l dc o ; H e a d o f S p e c i a l S i t ua t i on s & I n v e s t m e n t C o mm i tt e e M e m b e r a t A sh m o r e Faisal Al - Meshal Board Director Elect D i r e c t o r o f S tr a t eg y an d B us i n e s s D e v e l o p m e n t at NOX Management P r e vi ous l y D e p u t y G e n e r a l M ana ge r o f G ha li a h Umur Hursever Board Director Partner and member of investment committee at Lightrock Over 20+ years of direct private equity and growth equity experience Previously with Capital Group, CCMP Capital (f k a J. P . M o r g a n P a r t n e r s ) #5 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 26

Kalera’s ESG Commitment N U T R I T I O N & H E A L T H Enhanc i n g h e a lt h b e n e f it s f r o m u ltr a - f r esh g r ee n s w it h h igh nu triti ona l v a l u e WATER STEWARDSHIP Pr o t e c ti n g r es ou r c es b y l o w e ri n g con s u mp ti o n an d a v o i d i n g d i s cha r ges C O 2 A N D L A N D U S E R e d uc i n g C O 2 f oo t p ri n t f r o m s u pp ly cha i n s & o p e r a ti on s , an d s l a s h i n g l an d use 2 1 s t C E N T U R Y F A R M E R Developing 21 st century farming w o r k f o r c e t h r ou gh e d uca ti ona l an d R & D partnerships S D G s S a f e f oo d s u pp ly I mp r o v ed nu tr i t i ona l v a l u e t h r ou gh o p t i m i z ed no n - G MO ge n e t i c s an d growing recipes/methods F oo d s a f e t y au d it p e r f o r m an c e Phyto - nutrient levels R e d u c ed C O 2 f oo t p r i n t R e d u c ed l an d u s e C O 2 f oo t p r i n t p er G h G p r o t o c o l, e n d - t o - e n d f r o m s u pp lie r s t o c u s t o m e r s % energy & material inputs from sustainable sources Y ield p er a c r e / h a Foundation of Must - Have Factors: Governance, Social Policies, and KPIs I m p a c t K P I s W o r k f o r c e d e v el o pm e n t t h r ou gh c on t i nu i n g e d u c a t i o n (C E ) , i n t e r n s h i p s and work - studyprograms N u mb er o f C E C r e d i t s Internship hours Work - studyhours R e d u c ed w a t er u s e an d f e r t ili z er d i s c ha r ge t h r ou gh c l o s ed irrigation/fertilization system with a d v an c ed c on tr o ls W a t er c on s u mp t i o n W a s te w a t er g e n e r a t ed W a t er r e c y c led I mp a c t t o w a t er - s tr es s ed a r e a s #5 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 27 Source: Company information.

03 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 28 NANCIAL HLIGH T S

K e y P r oj e c t io n D r i v e r s Number of months for sales ramp up will vary based on geography and year of deployment Product portfolio mix gradually changes from current full head / baby leaf to all varieties US farm starting with Columbus will be Kalera’s third generation of farms producing all varieties Corporate expenses include synergies achieved through the &ever acquisition starting in Q2 2022 Kalera to open US and International farms per schedule Pro forma for combination with Agrico assuming a transaction closing in June 2022 Higher yields and decreased cycle time to increase margins through Vindara seeds, starting in Q4 2022 1 2 3 4 6 5 7 © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 29

($31) 2 0 22 E ( $14 ) $31 $83 $142 $0.4 $23 $73 $110 $148 2 0 23 E 2 0 24 E 2 0 25 E 2 0 26 E % Margin (1) (447.3%) (39.4%) 4.5% 16.0% 23.1% % Margin (271.2%) (16.5%) 13.2% 21.5% 27.2% % G r o w t h R a t e ( 1 ) 304.9% 655.9% 167.9% 64.8% 36.0% 5 - Y e a r F i nan c i a l P r oj e c t ion s Revenue C o r p o r a t e E B I T DA ( 2 ) P r o j e c t E B I T DA ( 2 ) Source: Company information. Figures in USDmm. 1) All growth rates and margins are based on projections shown. 2) See final slide for EBITDA reconciliation. R u n R a t e Projections ( 1 ) $12 $87 $233 $384 $523 $30 $142 $292 $421 $536 2 0 22 E 2 0 23 E 2 0 24 E 2 0 25 E 2 0 26 E ($52) 2 0 22 E © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 30 ($34) $10 $61 $121 ($20) $3 $51 $89 $126 2 0 23 E 2 0 24 E 2 0 25 E 2 0 26 E F a r m s o p e n ed in 20 2 1 / 202 2 a r e e x p e c t ed t o c on tr i b u t e ~ 99 % o f revenues in 2023 F a r m s o p e n ed in 20 2 1 / 202 2 a r e e x p e c t ed t o ge n e r a t e p o si t i v e E B I T D A in 2023

Healthy Consumer Revenue Growth (%) EBITDA Margin (%) EV / R eve nu e EV / Revenue / Growth EV / EBITDA Ag Tech Source: Company information, other publicly available sources and FactSet as of 1/31/22. (1) Pro forma for acquisition of ZFS Creston. V a l ua ti o n B e n c h m a r k i n g 2025 2025 2025 2025 2025 2025 0 . 5 x 0 . 9 x 1 . 7 x 2 .4 x 2025 2025 2025 0 . 0 1 x 0 . 0 1 x 64.8 % 16 . 0 % 46 . 9 % 31 . 5 % 88 . 4 % 36 . 8 % 0 . 6 x 0 . 0 1 x 3 . 6 x 7 . 4 % 62 . 0 % 2025 2025 2025 0 . 9 x 0 . 02 x 12 . 7 x 2024 2024 2024 167 . 9 % 4 . 5 % 1 . 0 x 0 . 0 1 x 2 1 . 4 x 2024 0 . 8 x 102 . 3 % 2024 0 . 0 1 x 2024 1 1 . 5 x 7 . 0 % ( 16 . 5 % ) 19 . 1 % 2024 2024 2024 1 . 5 x 0 . 08 x NM 1 . 7 x 2024 2024 2024 0 . 0 1 x 263 . 8 % 22 . 6 % 7 . 4 x 2023 2023 NM 2023 0 . 24 x 24 . 9 % 0 . 4 % 5 . 9 x 2023 2023 5 . 3 x 34 . 7 x 2023 0 . 1 7 x 30 . 8 % 15 . 4 % 2023 2023 1 . 5 x 20 . 1 x 2023 0 . 07 x 23 . 1 % 7 . 6 % ( 1 ) 2026 2026 2026 36.0 % © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 31 23 . 1 % 0 . 4 x 0 . 0 1 x 1 . 8 x

T r a n s a c t io n S ou r c e s & U s e s All values in $mm All values in $mm All values in mm S PA C C a s h in T r u s t $ 1 46 . 6 ( 1 ) K a le r a E q u i t y R o ll o v er 195 . 0 ( 2 ) Total Sources $341.7 C a s h t o B a l an c e S h eet $135.4 K a le r a E q u i t y R o ll o v er 195 . 0 ( 2 ) E s t i m a t ed F ees & E x p e n s es 11.2 Total Uses $341.7 Pr o F o r m a S ha r es O u t s t an d i n g 37 . 5 ( 2 ) P o s t - M on ey E q u i t y Va l u e ( 3 ) $374.7 ( - ) N et C a s h ( 4 ) 152.7 Pr o - F o r m a I mp lied En t e r p r i s e Va l u e ( P o s t - M on e y ) $222.0 Source: Company information. 1) Assumes no redemptions. 2) Based on $10 share price of RICO, 14.4mm SPAC shares outstanding, 3.6mm sponsor promote shares and calculated using Kalera 30 - day VWAP of 9.99 NOK assuming 209.4mm Kalera basic shares outstanding, issuance of 2.1mm shares related to Vindara, and 4.0mm in - the - money options, which implies a 0.091 exchange ratio of Kalera existing diluted shares to pro forma shares in combined company. 3) Post - Money Equity Value = Kalera Pre - Money Equity Value of $239mm + Net Cash to Balance Sheet of $135.4mm. 4) Composed of $135.4mm of cash to balance sheet and $17mm cash on hand. Sources U s e s P r o F o r m a O w n e r s h i p ( % ) a t C l o s i n g ( 2 ) Pro Forma Capitalization Existing Kalera Shareholders 52.0% © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 32 Agrico Investors 38.4% Agrico Founders 9.6%

A F E R N A ND O C O R N E J O Chief Financial Officer AUSTIN MARTIN Chief Operating Officer C U R T I S M C W I L L I A MS In t e r im C h i e f E x e c u t i v e O f f i c er D R . J A D E S T I N S O N P r esi d e n t & C o - F oun d er of Vindara D R . H E NN E R S C H W A R Z Chief Commercial Officer B R E N T D E J ON G A g r i c o C ha i r m a n & C h i e f Executive Officer B R I A N Z A T A R A I N Agrico Director D R . C R I S T I A N T O M A , P H D Chief Science Officer and Co - Founder © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 33

PPENDIX 1 CENT TRANSACTIONS © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 34

Recent Transformative Acquisitions Are Driving Technology Leadership A d r o p - i n r e pl a c e m e n t f o r t h e s y s t e m s i n d oo r g r o w e r s u se A m p li f i e d y i e l d , a pp e a r an c e , nu tr i t i o n an d f l a v o r D e s i g n e d e n t i r e l y t h r ou g h an a l yt i c s , no t ge n e - e d i t i n g o r G M Os • A pioneer in seeds designed for indoor vertical farming systems • Today’s seeds are almost perfectly opposed to what indoor growers need • Lifting the burden imposed by today’s off - the - shelf seeds w i t h t a il or - m a d e a l t e r na t i ves d e s i g n ed f o r ve r t i c a l i n d oo r u s e Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 35

D ee p P r o d u c t P i p e li n e DISCOVERY L A U N C H PHA S E 3 P H A S E 2 PHA S E 1 A m a r an t h f o r Microgreens Q u i no a H i g h Y i e l d G e no v e s e an d T ha i Basil F u s a r i u m + M il d e w R e s i s t an c e Basil F r o s t T o l e r an t Ba s i l N on - B l o n d e F a s t e r G r o w O u t R o m a i n e C r i sp y R o m a i n e H i g h Y i e l d S p i na c h N o v e l Bu tt e r h e a ds N o v e l L e a f L e tt u c e A r u g u l a Coriander H i g h Y i e l d Bu s h C u c u m b e r S w e e t P e a Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 36

K al e r a + Vin d a r a B e n e f i t s an d S y n e r g i e s + 1 4 2 5 I M P R O VE S un it e c ono m i c s an d E B I T D A – lower COGS, increased output, reduced cycle time $2 . 5 B N M A R K E T o p p o r t un i t y F U R T H E R P R OD U C T D I F F E R E N T I A T I O N : optimized color, texture, flavor, architecture and nutrient profile A D D I T I ON A L s ee d r e v e nu e o pp o r t un i t ies f o r global indoor vertical farming market – p r e m i u m p r i c i n g EXPANDS and accelerates seed R&D programs for proprietaryproducts A D D I T I O N o f V i n d a r a e x p e r ie n c ed t e a m an d Co - Founder and President Dr. Jade Stinson 3 6 Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 37

Launched in Germanyin 2015, focus on babyleaf products (kale, arugula, mustards, etc.) Broad portfolio of vertical farms from mega - farm (live in Kuwait) to grow tower/grow box (live in Germany) High degree of automation and powerful proprietarysoftware platform &ever Overview &ever Provides Access to Attractive Global Markets and B o l s t e r s T e c h S t a c k Highly Automated Vertical Farming Solutions – Kuwait Case Study Proprietary Plant Science & Technology Developed Bestponicsgrowth substrates and also patented Dryponics© Proprietary grow recipes optimized for extensive variety of babyleaf produce Employadvanced climate cells and an automated intra - farm tray movement system that is designed to significantly reduce operating expenses K ey F a c t s: CapEx~EUR 9mm (incl. building), built in less than 10 months with JV partner T o t a l g r o w i n g a r ea o f 3 , 200 m ² , f u lly au t o m a t ed i n tr a l o gi s t i c s s y s t em S tr on g s el l - t h r u w i t h p r e m i u m c u s t o m er b a s e E x e mp l a r y C u s t o m e r s : Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 38

B est p on i c s: “ s m a r t ” f e r t ili z e r s an d s o il Bestponics K e y F e a t u r e s a n d B e n e f it s Inno v a t i v e s u b s tr a t es a pp r oa c h w i t h s m a r t f e r t ili z e r s an d s o il N o f e r t ili z er m i x i n g r e q u i r ed No complexirrigation and fertilization system Excellent yield also for “difficult” plants such as Arugula Operating requirements of grow tower are b ei n g s i mp li f ied d r a s t i c a lly K e y F e a t u r e s a n d B e n e f it s P l an t s a r e ha r v ested w i t h t h eir r oo t s i n t a c t N u tr ie n t s an d t a s t e a r e f u lly p r e s e r v ed Smaller roots, higher share of usable plant Less water in the system, leading to lighter c on s tr u c t i o n an d l o w er C AP E X M o r e e f f i c ie n t c li m a t i z a t i o n in i n d i v i d ua l c li m a t e c ells ( l o w er O P E X) Patented Dryponics system, leading to less root/more leaf, a key differentiator vs. competitors CONTINUES TO GROW NO COOLING NO PESTICIDES AND HERBICIDES T A S T E LONG SHELF LIFE & e v e r ' s U n iq u e G r o wi n g M e t ho d s C o m p l e m e n t a r y t o K a l e r a ’s Technology Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 39 Dryponics

K al e r a + & e v e r Cr e a t e s a L e a d i n g G lo b a l P l a y e r i n I V F SYNERGIES: revenue, tech/automation c o s t r e d u c t i on s , e x t e n d s V i n d a r a c o s t synergies to &ever and saves corporate overhead EXPANDS ability to address global IVF TAM an d c u s t o m er s ha r e o f w a llet ADDITION of world class &ever leadership E S T A B L I S H E S b e a c hh e a d in a ttr a c t i v e m a r k e t s , i n c l u d i n g t h e Mi dd le Ea s t an d Southeast Asia C R E A T E S f u ll p o r t f o lio o f le a f y g r een o f f e r i n gs – “ O n e S t o p S ho p ” PROVIDES large portfolio of IVF technology solutions + 1 4 2 5 3 6 Source: Company information. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 40

PPENDIX 2 ILITIES IN OPERATION © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 41

Current 10 - month Facility Production Ramp - up Model to Test an d B ala n c e A l l S y s t em s Kalera Large - Scale Facility Commissioning Process for Facilities Opened in 2021 - 2022 Source: Company information. 1) Production Capacity is the percentage of total facility capacity currently utilized to grow plants in a given time period. 2) Maximum Capacity is the facility yield capacity if all available production systems for growing plants are 100% stabilized. 3) Throughput yield is the percent of production capacity of plants that meets or exceeds quality standards and are ready for sale. 83% 83% 83% 83% 83% 60% 60% 50% 53% 55% 60% 65% 67% 70% Production capacity (1) aligned to sales demand 85% 80% 75% 60% 60% 60% 2 0 % 3 0 % 4 0 % 5 0 % 6 0 % 7 0 % 8 0 % 9 0 % 1 0 0 % 1 2 3 4 5 6 7 8 Throughput Yield (% of Production Capacity) 9 10 4 0 % 4 5 % 5 0 % 5 5 % 6 0 % 6 5 % 7 0 % 7 5 % 8 0 % 8 5 % 9 0 % P e r c e nt of M a x i m um C a p a c i t y ( 2 ) Throughput Percent of Production(Actual) Capacity (1)(3) Production Capacity (% of Maximum Capacity) 10 - month process to test and balance all systems begins at first harvest Operational losses due to ramp - up are expected until sales demand is aligned with production capacity ( 1 ) Currently align production with sales at month 10 Production data cannot be used to project sales during the 10 - month commissioning process Comments Phase 1 M onth s © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 42

R e d u c t io n i n O p e r a t i on a l R a m p - u p C o s t s an d T i m e 65% 65% 65% 65% 55% 45% 50% 60% 70% 75% 80% 88% 4 0 % 5 0 % 6 0 % 7 0 % 8 0 % 9 0 % 1 0 0 % 4 0 % 4 5 % 5 0 % 5 5 % 6 0 % 6 5 % 7 0 % 1 2 3 4 5 6 Throughput % Production (Actual) Capacity Percent of Maximum Capacity (3) 202 4 - 202 5 P r o d u c t i o n r a m p - up 45% 40% 40% 45% 50% 45% 50% 62% 70% 78% 85% 88% 4 0 % 5 0 % 6 0 % 7 0 % 8 0 % 9 0 % 1 0 0 % 8 0 % 7 5 % 7 0 % 6 5 % 6 0 % 5 5 % 5 0 % 4 5 % 4 0 % 3 5 % 3 0 % 1 6 Throughput % Production (Actual) Capacity Percent of Maximum Capacity (3) 2025 + P r o d u c t i o n r a m p - up 2 3 Model:Production Capacity (% of Maximum Capacity) 4 5 Model:Throughput Yield (% of Production Capacity) Expected ramp - up time reduced to 6 months for all new facilities opened 2023 and beyond Standardization of new design leads to more predictable system performance and faster ramp - up Target throughput yield (2) achieved in 6 months resulting in lower ramp - up costs Similar improvement and acceleration patterns can be observed in other industries Kalera Large - Scale Facility Commissioning Process for Facilities Opened in 2023/2024 Acceleration Levers Model:Production Capacity (% of Maximum Capacity) Model:Throughput Yield (% of Production Capacity) Kalera Large - Scale Facility Commissioning Process for Facilities Opened in 2025+ P r o d u c t io n C a p a c i t y ( 1 ) A li g n e d t o S a l e s De man d 3) Maximum Capacity is the facility yield capacity if all available production systems for growing plants are 100% stabilized. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 43 Source: Company information. 1) Production Capacity is the percentage of total facility capacity currently utilized to grow plants in a given time period. 2) Throughput yield is the percent of production capacity of plants that meets or exceeds quality standards and are ready for sale.

C u r r e n t S a l e s R a m p - u p M o d e l Source: Company information. 21 18 15 12 14 12 12 12 2022 2023 2024 2025 - 43% US I nt . # of Months Sales Ramp - up since First Harvest for US and International Farms Over time, Kalera’s brand and products will become better known and develop stronger brand equity Kalera’s product portfolio will become increasingly diverse and attractive As Kalera’s farm network grows, national accounts will lead to a much faster sales ramp - up when a new farm opens Accelerating ramp - up patterns can be observed in similar industries Acceleration Levers Note: International facilities more often have offtake agreements, and farms are smaller. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 44

Atlanta Throughput Yield on Track with Ramp - Up Model Atlanta Facility Commissioning Process Source: Company information. 1) Throughput yield is the percent of production capacity of plants that meets or exceeds quality standards and are ready for sale. 83% 83% 83% 83% 83% 60% 60% 60% 60% 60% 73% 76% 73% 87% 83% 50% 53% 55% 60% 65% 67% 70% 75% 80% 85% 44% 56% 50% 68% 4 0 % 4 5 % 5 0 % 5 5 % 6 0 % 6 5 % 7 0 % 7 5 % 8 0 % 8 5 % 9 0 % 0% 1 0 % 2 0 % 3 0 % 4 0 % 5 0 % 6 0 % 7 0 % 8 0 % 9 0 % 1 0 0 % S e p J a n Feb Mar T hr o u g h p u t Y i e l d ( % o f P ro d u c t i o n C a p a c i t y) A p r May Jun ATL Throughput Yield (% of Production Capacity) T h r o u g h p u t P e r c e nt of P r o d u c t i on ( A c t u a l ) C a p a c i t y ( 1 )( 3 ) P e r c e nt of M a x i m um C a p a c i t y ( 2 ) Oct Nov Dec P ro d u c t i o n C a p a c i t y ( % of M a x i m u m C a p a c i t y) A T L P ro d u c t i o n C p a c i ty 2) 3) Maximum Capacity is the facility yield capacity if all available production systems for growing plants are 100% stabilized. Production Capacity is the percentage of total facility capacity currently utilized to grow plants in a given time period. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 45

Houston Throughput Yield Well Ahead of Expectations H ou st o n F a c ili t y C o mm i ss i on i n g P r o c e s s Source: Company information. 83% 83% 83% 83% 83% 60% 60% 60% 60% 92% 86% 72% 62% 53% 55% 60% 65% 67% 70% 75% 80% 85% 52% 50% 75% 70% 68% 4 0 % 4 5 % 5 0 % 5 5 % 6 0 % 6 5 % 7 0 % 7 5 % 8 0 % 8 5 % 9 0 % 0% 1 0 % 2 0 % 3 0 % 4 0 % 5 0 % 6 0 % 7 0 % 8 0 % 9 0 % 1 0 0 % Oct Nov Dec M o d e l : P r o d u c t i o n C a p a c i t y ( % of M a x i m u m C a p a c i t y) J a n F e b Mar Apr Model:Throughput Yield (% of Production Capacity) M a y Jun Jul HOU Throughput Yield (% of Production Capacity) T h r o u g h p u t P e r c e nt of P r o d u c t i on ( A c t u a l ) C a p a c i t y ( 1 )( 3 ) P e r c e nt of M a x i m um C a p a c i t y ( 2 ) HOU Production Capacity 1) 2) 3) Throughput yield is the percent of production capacity of plants that meets or exceeds quality standards and are ready for sale. Maximum Capacity is the facility yield capacity if all available production systems for growing plants are 100% stabilized. Production Capacity is the percentage of total facility capacity currently utilized to grow plants in a given time period. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 46

O r l a n d o C a p a ci t y U t i li z a t i o n 95% 89% 70% 49% 58% 62% 72% 77% 87% 98% 56% 58% 59% 63% 58% 60% 73% 77% 72% 67% 58% 50% 41% 54% 69% 78% 4 0 % 4 5 % 5 0 % 5 5 % 6 0 % 6 5 % 7 0 % 7 5 % 8 0 % 8 5 % 0% 2 0 % 4 0 % 6 0 % 8 0 % 1 0 0 % 1 2 0 % January February March A p r i l O c to b e r N o v e m b e r D e c e m b e r January May June ORL Production Capacity July August September ORL Throughput Yield (% of Production Capacity) T h r o u g h p u t P e r c e nt of P r o d u c t i on ( A c t u a l ) C a p a c i t y ( 1 )( 3 ) P e r c e nt of M a x i m um C a p a c i t y ( 2 ) Orlando Production Capacity versus Throughput 1 . C a p a c i t y n e a r s f u l l utilization and throughput yield adversely impacted 2 . C a p a c i t y n e a r s f u l l utilization and throughput yield adversely impacted Source: Company information. 1) 2) 3) Throughput yield is the percent of production capacity of plants that meets or exceeds quality standards and are ready for sale. Maximum Capacity is the facility yield capacity if all available production systems for growing plants are 100% stabilized. Production Capacity is the percentage of total facility capacity currently utilized to grow plants in a given time period. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 47

Farm of the Future Leveraging All Kalera’s Latest IP & T e c hn olo g y C o m i n g i n 1 s t H al f 202 3 Source: Company information. 1) Blended prices. Columbus ~136k sqft. Up to 1,557 Metric Tons of Leafy Greens output annually Full Leafy greens product portfolio to maximize sell through and optimize facility profitability Integration of Kalera, &ever, & Vindara know - how, systems and processes ~4 yr payback (fully ramped) Harvest Automation Process Automation Leading Plant Science Packaging Automation Cut Leaf Harvest - on - Demand Whole Head Baby Leaf & Microgreens Farm of the Future Future State Blended price with full p o r t f o li o o f p r o d u c t s S a le Pr i c e ( 1 ) $6.68 C o s t ( 2 ) $3.21 Margin $3.47 Packaging $1.39 EBITDA $2.07 30.7% 2) Excludes packaging costs. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 48

New Facility Planned for Central Florida Market to Meet G r o wi n g S al e s D e m a n d Kalera’s first large - scale facility prototype will not go through previously announced retrofit in 2022 Physical plant and power limitations prevent the Orlando Facility from receiving necessary upgrades . Limiting facility utilization ( 1 ) to ~ 60 % of maximum production capacity ( 1 ) . As a result, facility will not achieve financial targets In spite of challenges related to Orlando Facility (Kalera’s first prototype Large - Scale facility), significant learnings from operating Kalera’s first facility led to design improvements deployed in Atlanta, Houston, Denver and facilities currently under construction Sales growth in Orlando will continue while supported by the Atlanta facility. Florida market has huge potential that can only be served by a fully integrated farm leveraging automation and production capabilities to grow cut leaf, baby leaf, full heads and microgreens New facility planned for Central Florida market and current Orlando facility will be repurposed after commissioning of new farm 1) Production Capacity / Utilization is the percentage of total facility capacity currently utilized to grow plants in a given time period. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 49 Source: Company information.

2022E 2023E 2024E 2025E 2026E Net Income ($71.5) ($67.9) ($35.0) $5.2 $55.8 Taxes - - - - - D&A 16.4 26.2 35.6 43.7 50.4 Interest 3.6 7.4 9.8 12.5 14.4 EBITDA ($51.5) ($34.3) $10.4 $61.4 $120.6 HQ Expenses 20.3 19.9 20.5 21.1 21.7 Adjusted EBITDA (1) ($31.2) ($14.4) $30.9 $82.5 $142.3 1) Adjusted EBITDA is EBITDA excluding Corporate Expenses. © C O P Y R I G H T 2 0 2 2 K A L E R A . A L L R I G H T S R E S E R V E D | P R O J E C T O R L A N D O I N V E S T O R D E C K 50 Source: Company information. Figures in USDmm. R E C ONCI L I A T IO N T O U S - G AA P