Local Bounti (LOCL) investor relations material

Company overview and business model

• Operates as a controlled environment agriculture (CEA) company focused on sustainably grown produce, primarily living and loose leaf lettuce, using patented Stack & Flow Technology® combining vertical and greenhouse farming.

• Distributes products to about 13,000 retail locations across 35 U.S. states, serving major retailers such as Albertsons, Sam's Club, Kroger, Target, Walmart, Whole Foods, Brookshire's, and H-E-B.

• Holds an estimated 80% share of the CEA market for living butter lettuce in the Western U.S. and offers a range of leafy greens, salad kits, and specialty greens.

• Pursues growth through facility expansion, acquisitions, and technology upgrades, with recent new facilities in Georgia, Washington, and Texas.

• Emphasizes sustainability, using 90% less water and land than traditional agriculture, and aims to expand into new produce varieties and markets.

Financial performance and metrics

• As of March 31, 2026, 22,751,295 shares of common stock were outstanding, with up to 36,356,397 shares possible post-offering.

• The company is classified as an emerging growth company and a smaller reporting company, allowing for reduced disclosure obligations.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by the selling stockholder.

• May receive up to $687,500 from cash exercise of the Common Stock Purchase Warrant, intended for working capital and general corporate purposes.