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BUILDING A SCALABLE, MULTI-BRAND SUPERFOOD PLATFORMJanuary 13, 2026ICR Conference Presentation
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Important DisclosuresCautionary “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995:This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on LairdSuperfood, Inc.’s (the “Company”, “Laird Superfood”, “Laird” or “LSF”) current expectations or forecasts of future events and are not guarantees of future performance. Forward-looking statements include all statementsother than statements of historical fact contained in this presentation, including information or predictions concerning the proposed acquisition of Navitas LLC (the "Navitas Acquisition") and its expected terms, timing andclosing, including receipt of required approvals, satisfaction of other customary closing conditions and expected changes and appointments to the board of directors, estimates of future synergies, growth opportunities,savings and efficiencies, expectations regarding the Company’s ability to effectively integrate assets and properties it may acquire as a result of the Navitas Acquisition, expectations of future plans, priorities, focus andbenefits of the proposed Transactions (as defined below), the Company’s future financial performance, cash balance, plans and objectives, competitive position, market trends, succession planning, product pipeline, andpotential growth and market opportunities. In some cases, you can identify forward-looking statements by words such as “intends,” “estimates,” “predicts,” “potential,” “continues,” “target,” “sustain,” “anticipates,”“plans,” “expects,” “believes,” “should,” “could,” “may,” “will,” “would,” “seeks” or the negative of these terms or other comparable terminology. Forward-looking statements involve risks and uncertainties, which may causethe Company’s actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Key factors that could cause actual results to be different than expectedor anticipated include, but are not limited to: the ability of the parties to consummate the proposed Transactions in a timely manner or at all, satisfaction of the conditions precedent to consummation of the Nexus Investment(as defined below) and the Navitas Acquisition, including the ability to secure required consents and regulatory approvals in a timely manner or at all, and approval by the Company’s stockholders of the Company's issuance ofits Series A Preferred Stock in connection with the Nexus Investment, the possibility of litigation (including related to the proposed Transactions), volatility regarding our revenue, expenses, including shipping expenses, andother operating results; our ability to acquire new direct and wholesale customers and successfully retain existing customers; our ability to attract and retain our suppliers, distributors and co-manufacturers, and effectivelymanage their costs and performance; effects of real or perceived quality or health issues with our products or other issues that adversely affect our brand and reputation; our ability to innovate on a timely and cost-effectivebasis, predict changes in consumer preferences and develop successful new products, or updates to existing products, and develop innovative marketing strategies; adverse developments regarding prices and availability ofraw materials and other inputs, a substantial amount of which come from a limited number of suppliers outside the United States, including in areas which may be adversely affected by climate change; effects of changes inthe tastes and preferences of our consumers and consumer preferences for natural and organic food products; the financial condition of, and our relationships with, our suppliers, co-manufacturers, distributors, retailers andfood service customers, as well as the health of the food service industry generally; the ability of ourselves, our suppliers and co-manufacturers to comply with food safety, environmental or other laws or regulations and thepotential impact of policy changes regarding imports, exports, and tariffs; our plans for future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements, includingour ability to continue as a going concern; the costs and success of our marketing efforts, and our ability to promote our brand; our reliance on our executive team and other key personnel and our ability to identify, recruit andretain skilled and general working personnel; our ability to effectively manage our growth; our ability to compete effectively with existing competitors and new market entrants; the impact of adverse economic conditions,consumer confidence and spending levels; the growth rates of the markets in which we compete; and other factors discussed in our reports filed with the Securities and Exchange Commission (the “SEC”), including our AnnualReport on Form 10-K for the year ended December 31, 2024, and subsequent Quarterly Report(s) on Form 10-Q.In light of these risks, uncertainties and assumptions, you are cautioned not to place undue reliance on forward-looking statements, which are inherently unreliable and speak only as of the date of this presentation. TheCompany cannot guarantee that the future results, performance, or events and circumstances described in the forward-looking statements will be achieved or occur. The Company undertakes no obligation, and the Companyexpressly disclaims any obligation, to update or alter any forward-looking statements for any reason after the date of this presentation, whether as a result of new information, future events or otherwise, except as required bylaw. In addition, statements including phrases such as “we believe” and similar statements reflect the Company’s beliefs and opinions on the relevant subject. These statements are based upon information available to theCompany as of the date of this presentation, and while the Company believes such information forms a reasonable basis for such statements, such information may be limited or incomplete, and such statements should notbe read to indicate that the Company has conducted an exhaustive inquiry into, or review of, all potentially available relevant information.Third-Party Information:This presentation also contains estimates, projections and other statistical data made by independent parties and by the Company relating to market size and growth and other data about theCompany’s industry and its business. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such data. The Company has not independently verified the accuracy andcompleteness of the information obtained by third parties included in this presentation, and expressly disclaims any responsibility for the accuracy, completeness or fairness of any such third-party information.2
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Important Disclosures (cont.)Non-GAAP Financial Information: The Company presents adjusted EBITDA in this presentation, which is a financial measure not required by, or presented in accordance with, accounting principles generally accepted in theUnited States of America (“GAAP”). The Company’s management uses non-GAAP financial measures, both internally and externally, to assess and communicate the financial performance of the Company. The Companydefines adjusted EBITDA as net income (loss), adjusted to exclude: (1) interest expense and other (income) loss, (2) income tax (benefit) expense, (3) depreciation and amortization expenses, (4) stock-based compensation, (5)expenses related to the impairment of long-lived intangible assets, and (6) expenses and recoveries related to a product quality issue. The Company believes adjusted EBITDA is useful to investors because it facilitatescomparisons of its core business operations, excluding non-cash costs and non-recurring events, across periods on a consistent basis. Management uses adjusted EBITDA internally in analyzing the Company’s financialresults to assess operational performance and to determine the Company’s future capital requirements. The presentation of this financial information is not intended to be considered in isolation or as a substitute for thefinancial information prepared in accordance with GAAP. The Company believes that both management and investors benefit from referring to adjusted EBITDA in assessing its performance and when planning, forecasting andanalyzing future periods. The Company believes adjusted EBITDA is useful to investors and others to understand and evaluate the Company’s operating results and it allows for a more meaningful comparison between theCompany’s performance and that of competitors. Our use of adjusted EBITDA has limitations as an analytical tool, and you should not consider this performance measure in isolation from or as a substitute for analysis of ourresults as reported under GAAP. Some of these limitations are that adjusted EBITDA does not reflect, among other things: cash capital expenditures for assets underlying depreciation and amortization expense that may needto be replaced or for new capital expenditures; interest expense; income tax expense from continuing operations; our working capital requirements; the potentially dilutive impact of stock-based compensation; and theprovision for income taxes. Other companies, including companies in our industry, may calculate adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you shouldconsider adjusted EBITDA along with other financial performance measures, including net sales, net loss, cash and cash equivalents, restricted cash, net cash used in operating activities and our financial results presented inaccordance with GAAP.Acquisition Risk:Although certain information included in this presentation generally assumes consummation of the Transactions and we expect that the Transactions will result in benefits to the Company, we may be unableto consummate the Transactions on a timely basis or at all, and if the Transactions are consummated, we may not realize the anticipated benefits because of integration difficulties or other challenges.Additional Information and Where to Find It:In connection with the proposed Transactions, the Company intends to file preliminary and definitive proxy statements and other materials with the SEC. In addition, theCompany may also file other relevant documents with the SEC regarding the proposed Transactions. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE ANDANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS. The definitive proxy statement and other relevant documents willbe sent or given to the Company’s stockholders as of the record date established for voting. Investors and stockholders may also obtain a free copy of the proxy statement (when available) and other documents filed by theCompany at its website, www.lairdsuperfood.com, or at the SEC’s website, www.sec.gov. The proxy statement and other relevant documents may also be obtained for free from the Company by directing such request to theCompany, to the attention of Investor Relations, 5303 Spine Road, Suite 204, Boulder, Colorado 80301.Participants in the Solicitation:Laird Superfood, Nexus Capital Management, LP and their respective directors, partners and executive officers may be deemed to be participants in the solicitation of proxies from theCompany’s stockholders in connection with the proposed Transactions. Investors and stockholders may obtain more detailed information regarding the names, affiliations and interests of the Company’s directors andexecutive officers by reading the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on February 26, 2025. To the extent holdings of common stock by theCompany’s directors and executive officers have changed from the amounts of common stock held by such persons as reflected in the Company’s Annual Report on Form 10-K, such changes have been or will be reflected onStatements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding potential participants in such proxy solicitation and a description of their direct and indirect interests, by security holdings orotherwise, will be included in the proxy statement and other relevant materials filed with the SEC in connection with the proposed Transactions when they become available.No Offer or Solicitation:This investor presentation is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the potential Transactions and shall not constitutean offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration orqualification under the securities laws of such state or jurisdiction.3
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Laird Superfood was founded by two world-class athletes 4 LAIRD HAMILTONBig wave surfer, innovator/inventor, author, fitness and nutrition expert. Husband and father.GABBY REECE (HAMILTON)Podcast host, best-selling author, former professional volleyball player. Wife and mother.
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5 Laird Superfood Strategic Plan for growth and profitabilityGrow our core business•Expand distribution points•Increase sales velocities•Grow brand awareness and trial•Optimize marketing efficiencyInnovate in Superfoods•Expand existing product lines•Execute packaging innovation•Expand to new categoriesImprove LSF Supply Chain•Ensure capacity and flexibility•Reduce operational costs•Ensure product qualityBuild critical capabilities and improve our work processes•Hire/train/retain critical employees to elevate business performance•Continue to simplify work processes and IT infrastructureImprove our P+L and accelerate the path to profitability•Optimize pricing and leverage scale to sustain Gross Margin in the high 30s•Minimize annual overhead growth•Pursue consolidation opportunities within/adjacent to our core portfolio 1 2 345
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LSF exec team has extensive experience in Food and CPG 6 CFO•Chief Financial Officer since July 2022•CFO at Little Secrets•Sr. Director of Finance at Danone North America•Sr. Director of Financeat WhiteWave FoodsAnya HamillJared Larkin CEO | President•President and CEO since January 2022•EVP/GM at Sovos Brands•SVP of Life Time Fitness•SVP/GM at WhiteWave Foods•Boston Consulting GroupJason Vieth VP , Supply Chain•VP of Supply Chain since August 2022•Director of Ops and Finance at Picky Bars•President of KIALOA Canoe Paddles SVP , Sales•SVP of Sales since September 2023•Chief Commercial Officer at INW•VP International at WhiteWave Foods•VP US Sales at Cott Beverages•PepsiCo CompanyGil Arvizu
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Laird Portfolio 7 Example Products*TTM Gross Sales ($M)(1)Product Line$27.7Coffee Creamers$14.1Coffee, Tea, and Hot Chocolate$7.8Hydration & Beverage Enhancing Products$6.0Harvest Snacks & Other Food Items HIGHLIGHTS TTM Q325 GROSS SALES PRODUCT MIX50%25%10%14%<1%Coffee CreamersCoffee, Tea, and Hot ChocolateHarvest snacks and other food itemsHydration and beverage enhancing supplementsOther Strategic Focus “Coffee Solutions”* Not intended to represent entire product line. Only sample of products in each product line is shown.1Gross Sales numbers reflect sales for the trailing-twelve-months ended September 30, 2025.
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24%18%12%4%-2%-10% -10%VITAL FARMS LAIRD SUPERFOOD SUNOPTA HONEST COMPANYCPGINDEXHAIN CELESTIAL GROUPBEYOND MEATLaird: strong sales growth continues 81Revenue figures are shown on a as reported basis for the TTM period as of September 30, 2025.2CPG Index = S&P Composite 1500 / Food Products.3Peer average includes: Beyond Meat, Inc. (BYND), Hain Celestial Group, Inc. (HAIN), Honest Company, Inc. (HNST), SunOpta Inc. (STKL), and Vital Farms, Inc. (VITL).Source: Company documents, FactSet PEER SALES GROWTH COMPARISON1NET SALES ($S IN MILLIONS)$40.9M$48.1MQ324 (TTM) Q325 (TTM)18%YOY GROWTH 2PEER AVERAGE:34%
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Laird: strong gross margin1 91Gross margins are shown on a as reported basis for the TTM period as of September 30, 2025.2CPG Index = S&P Composite 1500 / Food Products.3Peer average includes: Beyond Meat, Inc. (BYND), Hain Celestial Group, Inc. (HAIN), Honest Company, Inc. (HNST), SunOpta Inc. (STKL), and Vital Farms, Inc. (VITL). Source: Company documents, FactSet 39% 39%38%21%18%13%9%LAIRD SUPERFOOD HONEST COMPANY VITAL FARMS HAIN CELESTIAL GROUPCPGINDEXSUNOPTA BEYOND MEAT2PEER AVERAGE:324%
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Launching innovation with recent new products 10 LIQUID CREAMERS•Organicplant-based formula•2x functional mushroom level•No gums, no flavors, no seed oils NOVEMBER 2025HYDRATION•Natural electrolytes andminerals•No added sugar, no added flavoring•Aquamin provides >70 trace minerals DECEMBER 2025PROTEIN COFFEE•First Laird Superfoods dairy product•10g of whey protein and0g sugar•Functional mushrooms •GLP-1 ready JANUARY 2026
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Superfoods is a large market – with strong secular tailwinds 11Laird has an opportunity to significantly increase its awareness and share in Superfoods89%of consumers prefer functional food & beverages to support their health 77%of Millennial and Gen Z consumers believe an organic label is important 2/3of Gen Z & Millennial consumers purchased functional nutrition products in the last year 74%of consumers are willing to pay more for products that provide both high-quality ingredients and functional benefits 66%of consumers are willing to pay a premium for healthier products than non-certified products $72B$100B2024 2030E5% CAGRU.S. ORGANIC FOOD MARKET GLOBAL SUPERFOODS MARKET$189B$280B2024 2030E8% CAGR KEY STATS Source: Business Dasher, Nutraceuticals World, Organic Trade Association (2024 & 2025 Organic Market Reports), SLETIS 2024 Presentation on BIOFACH Trends in Organic Markets (U.S.), TechnavioSource: Business Dasher, Nutraceuticals World, Organic Trade Association (2024 & 2025 Organic Market Reports), SLETIS 2024 Presentation on BIOFACH Trends in Organic Markets (U.S.)
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PROPOSED ACQUISITIONS TO UNLOCK: EBITDA growth and margin expansion from manufacturing & operational efficiencies LSF is building a superfoods platform 12 Laird Superfood founded by Laird Hamilton2015Q126Q1262026+Laird Superfood IPOUp to $110 million of funding available from NexusFuture strategic acquisitions of superfoods platforms and brandsNavitas Acquisition120201Estimated to close in Q126. Sales growth from distribution synergies
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Transaction overview summary 1Global Superfood Corp. is a holding company with no operations whose purpose it to hold units of Navitas. 2Based on 12,176,446 of fully diluted common shares outstanding as of December 21, 2025. 13 •Laird acquiring Navitas1for $38.5 million•Combined company to have TTM Q325 sales of $91 million, up 20% year-on-year and 36% gross margins•Acquisition being funded by $50 million investment from Nexus, post-closing Nexus will own 53.5%2•Board composition: Founder - Laird Hamilton, CEO Jason Vieth, two (2) continuing independent directors and five (5) Nexus directors •Transaction expected to close in Q126 subject to Laird shareholder approval and other customary closing conditions
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Compelling benefits of the proposed transaction 14 Building a scalable, multi-brand superfood platformExpands position and brands in the large and fast-growing superfoods marketSignificant runway for growth from cross selling and increased brand awarenessHighly complementary product portfolio enhances customer offeringTargeting annualized cost synergies post closing of~$3.5 million1Expanded distribution and scale in complementary channels in grocery, mass, club stores, and e-commerceDouble digit revenue growth and positive adj. EBITDA2New innovation opportunities in cross-portfolio product developmentNexus investment provides capital to fund future strategic transactions1Based on Company estimates. Transaction costs from supply chain, sourcing, operating expenses, and G&A are also expected to be incurred.2Expect GAAP net loss in FY 2026. Adjusted EBITDA is a non-GAAP financial measure. We have not reconciled the forward-looking adjusted EBITDA estimate to the comparable GAAP measure because applicable information for future periods, on which these reconciliations would be based, is not readily available due to uncertainty related to stock-based compensation, due to volatility in stock price, and state and local income taxes. Accordingly, a reconciliation of the forward-looking adjusted EBITDA estimate is not available at this time without unreasonable effort.
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NEXUS CAPITAL MANAGEMENTNexus is an alternative asset investment management company based in LosAngeles, California that was founded in 2013. Nexus employs a flexibleinvestment mandate that focuses on long-term value creation by partnering withleading management teams and businesses.INITIAL INVESTMENT1Nexus has agreed to purchase an initial 50,000 shares of Series A Preferred Stockat a purchase price of $1,000 per share for gross proceeds of $50 million.The Series A Preferred Stock will be convertible, at the option of the holder, intoshares of the Company’s common stock at a fixed conversion price of $3.57(subject to adjustments for stock splits and similar events). The Series A PreferredStock will accrue dividends at an annual rate of 5%, compounded quarterly, andvote on an as-converted basis with the common stock.The initial Nexus Investment is expected to close substantially concurrently withthe closing of the Navitas Acquisition in Q126.STOCKHOLDER SUPPORTCertain of Laird’s stockholders, directors and executive officers have entered intovoting and support agreements to vote in favor of the issuance of the Series APreferred Stock and against alternative transactions or proposals at a special meetingof stockholders.FUTURE CAPITAL ACCESSFollowing the close of the Nexus Investment, Laird has up to 270 days to require Nexusto purchase, upon the same terms, up to an additional $60 million of Series A PreferredStock, the proceeds of which must be used for future strategic transactions. Additional financing commitment from Nexus 151Additional terms regarding the Nexus Investment are described in the Current Report on Form 8-K filed by the Company with the SEC on December 22, 2025.
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BUSINESS OVERVIEWPioneer in superfoods with a premium, purpose-driven platform of functional food products that resonate with the modern wellness consumerOrganic superfood portfolio of high-quality, nutrient-dense products that span healthy baking, wellness staples, and functional berries, snacks & beveragesSALES BY CHANNEL1SALES BY TYPE21 TTM net sales are as of September 30, 2025. 2TTM gross sales are as of September 30, 2025.27%18%12%9%6%5%23% Cacao Powder Cacao & Sweet Nibs Chia Seeds Goji Berries Superfoods & Snacks Matcha Powder Other #1Brand in the Natural channel cacao nibs and cacao powder #1Brand in the Natural channel goji berries, golden berries, and mulberries #2Brand in Natural channel energy & snacks Navitas at a glance 1676%24%Wholesale E-Commerce 55Brand NPSRevenue (TTM1)$43 MM$14 MMGross Profit (TTM1)24%Revenue Growth (YoY1)32.2%Gross Margin (TTM1) Source: SPINS – Total U.S. Natural Enhance Market, Mindset A&U Study (July 2025)
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Navitas portfolio 17HEALTHY BAKINGIncludes a variety of cacao products (powders, nibs and wafers) designed to elevate the health of baked goods and homemade treats. All cacao products are made from organic, fair trade-certified cacao and help turn each sweet treat into a better-for-you, nutrient-dense snackWELLNESS STAPLESIncludes a range of single-ingredient and blended, nutrient-dense products designed to support everyday wellness. All powders and seeds are organic, minimally processedand versatileenough to be added to smoothies, meals and snacks. These superfoods are meant to be daily diet cornerstones FUNCTIONAL BERRIES, SNACKS & BEVERAGESIncludes a portfolio of nutrient-dense on-the-go bites, berries and functional superfood latte mixesdesigned to satisfy cravings and fuel the body with energy for the day. All products offer healthy, nutrient-dense alternatives to replace unhealthy snacks and high-sugar beverages
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Laird & Navitas are highly complementary Delivering clean, real nutrition to increasingly health-conscious consumers18Make nutrient-dense, whole foods easy, enjoyable and a key part of everyday lifeEmpower people to live healthier, more vibrant lives through powerful and sustainable superfood nutritionPRODUCT MISSIONHigh-quality, clean-ingredient, functional nutrition that benefits the consumer and the planetReal food products that fuel everyday performance and wellnessBRAND DNAPremiumPremiumPRICINGCurrently primarily in retail and clubSales mix is almost evenly divided between club/grocery and e-commerceCHANNEL MIXQuality-conscious consumer, educated, high-earning, health-oriented consumers (~69% are Gen Z or Millennials1)Quality-conscious consumer, educated, socially engaged, and health conscientiousCONSUMER PROFILE 1Source: Mindsight A&U Study – July 2025
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Raw superfood ingredientsBroadening product portfolio 19 Building a multi-brand platform in superfoods+ Functional beverages, creamers and whole foodsCoffee Creamer, 26%Coffee, 13%Hydration, 7%Healthy Snacks, 5% Healthy Baking, 23%Wellness Staples, 18%Functional Snacks, 8% Represents a percentage of pro forma TTM gross sales as of September 30, 2025.
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61%39%47%53%76%24% Expanding reach across distribution channels 20 Opportunity to leverage significant cross-sell opportunities and expand across channels DISTRIBUTION1 WholesaleE-Commerce LAIRD PRO FORMA1Data is based on September 30, 2025 TTM Net Sales.
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LairdNavitasPro FormaLairdNavitasPro Forma Q325 TTM GROSS PROFIT1($S IN MILLIONS)$14 $33 PRO FORMAQ325 TTM NET SALES1($S IN MILLIONS)$48$43 $91 PRO FORMA Combined company pro forma profile 21 Double-digit revenue growth and strong margins$19 1As of September 30, 2025 on a TTM basis.
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5 ANNUALIZED COST SYNERGIES ARE 4X LAIRD’S TTM ADJ. EBITDAREVENUE SYNERGIESCross-sell in complementary distribution Expand innovative product offerings Expand reach across e-commerce and retail partners Accelerate brand awareness ~$3.5 MM Cost Synergies1Combination unlocks significant value from synergiesCOGSIntegration of supply chain and sourcing channels Volume-driven savings OPEX 221Based on Company estimates. Transaction costs from supply chain, sourcing, operating expenses, and G&A are also expected to be incurred. Estimated cash costs to achieve synergies of ~$2 million.2 Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of adjusted EBITDA to the most directly comparable GAAP measure, see the Appendix to this presentation.Optimize corporate costs Back-office support Leverage Laird’s existing infrastructure -$0.1$0.0$0.2$0.4$0.1$0.2Q224 Q324 Q424 Q125 Q225 Q325LAIRD ADJUSTED EBITDA2($S IN MILLIONS)TTM ADJUSTED2EBITDA $0.8M
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Significant benefits for all stakeholders 23 CUSTOMERSAccess to a broader product selectionEnhanced quality and consistency across productsNew innovative product offerings Commitment to ongoing professional developmentAttractive long-term growth opportunitiesIncreased scale and reachDedicated to operational excellenceTEAM Attractive growth profileHighly complementary portfolio and channel mixEnhanced scaleStronger financial profile with compelling synergypotentialStrategic platform for growth optionalityINVESTORS
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Laird M&A strategy: consolidator in the superfoods market 24 A multi-brand superfood platform built to scale and grow earnings PROVEN MANAGEMENT TEAMProvenbrand leaderswith a strong track record of execution across both businesses LEVERAGE CAPABILITIESUtilize Laird’s scale, supply chain and distribution network to supercharge growth PIPELINEVISIBILITYActively evaluating a robust pipeline of high-potential opportunities in superfoods CAPITAL FOR GROWTHNexus investment provides flexible funding to pursue future strategic opportunities
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Compelling investment profile 25 $91 million Q325 TTM pro forma net sales1 Double digit revenue growth and positive adj. EBITDA3 ~$3.5 million annualized cost synergies2 Up to $60 million available for future strategic transactions Strong balance sheet, enhanced cash position and no debt1 As of September 30, 2025.2Based on Company estimates. Transaction costs from supply chain, sourcing, operating expenses, and G&A are also expected to be incurred.3 Expect GAAP net loss in FY 2026. Adjusted EBITDA is a non-GAAP financial measure. We have not reconciled the forward-looking adjusted EBITDA estimate to the comparable GAAP measure because applicable information for future periods, on which these reconciliations would be based, is not readily available due to uncertainty related to stock-based compensation, due to volatility in stock price, and state and local income taxes. Accordingly, a reconciliation of the forward-looking adjusted EBITDA estimate is not available at this time without unreasonable effort.36% Q325 TTM pro forma gross margin1
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Appendix
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TRANSACTION CONSIDERATIONLaird to acquire all outstanding equity of Navitas and Global SuperfoodCorp.1for $38.5 million in cash.Navitas Acquisition to be financed with cash funded through the privateplacement of $50 million of Series A Convertible Preferred Stock toaffiliates of Nexus Capital Management, LP (“Nexus” and such transaction,the “Nexus Investment” and together, with the Navitas Acquisition, the“Transactions”).CAPITAL STRUCTUREThe Nexus Investment preserves balance sheet flexibility with no debt andan improved liquidity position.On a diluted basis for in-the-money instruments, Nexus will holdapproximately 53.5%2of Laird’s issued and outstanding stock (post-close).Following the close of the Nexus Investment, Laird has up to 270 days torequire Nexus to purchase, upon the same terms, up to an additional $60million of Series A Preferred Stock, the proceeds of which must be used forfuture strategic transactions.FINANCIAL IMPACTPro forma Q325 trailing-twelve-months (“TTM”) sales of $91 million, up 20% YOY ,and 35.9% gross margin.Targeting annualized cost synergies of ~$3.5 million post closing of the NavitasAcquisition3.GOVERNANCEThe reconstituted Board of Directors will comprise of nine members, includingfour new Nexus director designees, with Grant LaMontagne remaining on theBoard of Directors.CLOSING CONDITIONSThe Transactions are expected to close in Q126, subject to customary closingconditions.The issuance of the Series A Preferred Stock to Nexus is subject to approval byLaird stockholders. Transaction overview detail 1Global Superfood Corp. is a holding company with no operations whose purpose it to hold units of Navitas. 2Based on 12,176,446 of fully diluted common shares outstanding as of December 21, 2025. 3 Based on Company estimates. Transaction costs from supply chain, sourcing, operating expenses, and G&A are also expected to be incurred.27
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Reconciliation of GAAP and Non-GAAP Financial Measures 28 Q325Q225Q125Q424Q324Q224$(1.0)$(0.4)$(0.2)$(0.4)$(0.2)$(0.2)Net (loss) incomeAdjusted for:0.1 0.1 0.1 0.1 0.1 0.1 Depreciation and amortization0.4 0.5 0.5 0.6 0.5 0.3 Stock-based compensation0.0 0.0 0.0 0.0 0.0 0.0 Income tax expense(0.0)(0.0)(0.1)(0.1)(0.1)(0.1)Interest expense and other (income) expense, net0.7 —————Impairment of long-lived intangible assets————(0.3)(0.1)Product quality issue$0.2 $0.1 $0.4 $0.2 $(0.0)$(0.1)Adjusted EBITDA$, millions