Making sense of soil nitrate sensing Realtime soil

: Making sense of soil nitrate sensing Real-time soil nitrate sensor system for variable rate nitrogen application

Why it is important ~13 million tons of N fertilizer used every year in the US $10 to $12 billion spent $5 to 6 billion lost

Agricultural fields are variable, yet managed as uniform Result?

Soil N-Sense will make precision N management possible • Mapping nitrate concentrations of agricultural field • Adoption of precision N management would save the farmer $28/acre for this field Peer-reviewed studies: $44 to 74/acre savings Pioneer estimates: $60/acre loss due to N mismanagement

What do we offer We are testing a real-time on-the-go sensor that can be used by farmers to measure soil nitrates for variable rate N fertilizer management

Why now Recent technology breakthrough: ruggedized spectrometers suitable for use in agricultural fields

Market size $4. 1 billion Precision Ag. market (CAGR 11. 2%) Variable rate technology ( CAGR 9. 7%) $1. 3 billion $95 million Large farm operations (>1000 acres) utilizing various tools to improve N use efficiency

Competitors Technology Real-time capabilities N-Sense system V Encirca SM, Adapt N (Acquired by YARA, 2017), Field. View. TM (Acquired by Monsanto for $1 B 2013) V Supra. Sensor (Acquired by Monsanto, 2016) YARA, Green Seeker, Opt. Rx V V High spatial resolution On-the-go V V V V NECi nitrate kit, 360 Soil. Scan. TM Veris Optic. Mapper Direct nitrate measurements V V

Business model • Partnership with agrobusiness company (licensing/sale/acquisition) • Predicted sale price $50 -60 K per sensor system, annual service fee N-Sense financial projections based on licensing • 7. 5% licensing fee ($5 -6 M annually) End users: [VALUE] • Large-scale farm operations (>1, 000 acres) -2 year payback • Agricultural co-operatives that offer custom application of N [VALUE] 1 [VALUE] 2 [VALUE] 3 4 5

The Ask $300, 000 to build field mobile sensor prototype based on ruggedized spectrometer • Renting/buying • Designing/building prototype • Testing system on ag. fields $900, 000 to develop software, conduct field trials/calibration, produce a commercial-ready product

President: David Laird, Ph. D Agronomy 20+ years in soil sensor technology CEO: Natalia Rogovska, Ph. D Soil Sci. 15 years in precision ag. , GIS CSO: Thomas Chiou, Ph. D Eng. Mechanics 25+ years in using FTIR technology Business advisors Stephen Ringlee: 20+ years in IT, life sciences, and manufacturing companies Mark White: 30 years of financial, private equity, investment, management, and entrepreneurial experience