Fresh Earth Universe (FEU) is intentionally mission-locked and private. FEU intends to deliver shareholder liquidity through structured private-market mechanisms — funded by what the platform earns through royalties, licence fees, and CountryCo dividends — subject to milestones being reached. There is no current liquidity mechanism. All five pathways described are future-state and conditional on milestones being reached.

★ Primary liquidity pathway · begins at First Country Licence milestone (~24–36 months)

For wholesale investors only under s708(8) and/or s708(11) Corporations Act 2001 (Cth). Investor certificates must be current and in FEU's possession before any offer is made. Not financial advice. Not a PDS or offer document. Past performance is not a reliable indicator of future performance.

Forward-looking statements are based on assumptions current at the date of preparation and are made on a reasonable-basis under s769C(1) Corporations Act 2001 (Cth). Actual results may differ materially. These are not guarantees of performance.

FEVT is a future ownership layer. Not issued, sold or pre-allocated under this offer. Any future FEVT issuance requires its own offer document under applicable Australian financial services law.

FEU Valuation Progression (Illustrative — see disclaimer)

POST-OFFER MILESTONES INCLUDED · FEVT and FEIT are future instruments requiring separate offer documents under applicable Australian financial services law (s738H Corporations Act 2001 Cth) · NOT issued under this offer · ZERO contribution to this offer's $15M pre-money entry value is assumed · investors here hold ordinary FEU shares only.

All valuations assume zero contribution from FEIT. FEIT provides material but unmodelled upside — treating it as conservative optionality, not base-case.

Forward-looking statements are based on assumptions current at the date of preparation and are made on a reasonable-basis under s769C(1) Corporations Act 2001 (Cth). Actual results may differ materially. These are not guarantees of performance.

FEVT is a future ownership layer. Not issued, sold or pre-allocated under this offer. Any future FEVT issuance requires its own offer document under applicable Australian financial services law.

FEIT (Fresh Earth Impact Token) is in development. Not issued or pre-allocated under this offer. Requires separate offer documentation. All valuations in this deck assume zero contribution from FEIT.

"FEU is not valued as a farm, a carbon project, or a consulting firm."

It is valued as a platform infrastructure business — the licensing rails underneath regenerative agriculture. The 20–25× revenue multiple applied to FEU is supported by every comparable above. These companies earn similar fees on similar verification-and-marketplace economics.

Valuation Methodology — How the A$15M Entry Figure Was Derived

FEU has no current revenue. The A$15M entry valuation reflects platform development to date, contracted farm pipeline, and proprietary IP — not a multiple on current earnings. The A$325M target (First Country Licence) applies 20–25× to an illustrative A$13–16M PDF-derived royalty stream at 1-country scale (based on modelled CoP adoption). This is a forward-looking projection, not a committed return. The 20–25× multiple is conservative relative to comparable regen-ag infrastructure companies (see table above, noting peak-cycle caveats). A bear-case scenario (timeline slippage of 12–18 months) would compress the A$100M FEVT Live milestone and delay liquidity events — no multiple is guaranteed.

* Peak valuations (2021–22 cycle). Indigo Ag and FBN underwent significant restructuring post-2022. Current valuations may differ materially from figures shown. † Estimated from public sources (Crunchbase/Pitchbook). USD converted at A$0.65. Treat as directional only.

For wholesale investors only under s708(8) and/or s708(11) Corporations Act 2001 (Cth). Investor certificates must be current and in FEU's possession before any offer is made. Not financial advice. Not a PDS or offer document. Past performance is not a reliable indicator of future performance.

Forward-looking statements are based on assumptions current at the date of preparation and are made on a reasonable-basis under s769C(1) Corporations Act 2001 (Cth). Actual results may differ materially. These are not guarantees of performance.

FEIT is treated as conservative upside optionality. It sits on top of audited regenerative outcomes (multi-KPI per m²). Unlike comparables, FEIT is backed by a real operating system — not speculation. All valuation forecasts assume zero FEIT contribution.

FEIT (Fresh Earth Impact Token) is in development. Not issued or pre-allocated under this offer. Requires separate offer documentation. All valuations in this deck assume zero contribution from FEIT.

Forward-looking statements are based on assumptions current at the date of preparation and are made on a reasonable-basis under s769C(1) Corporations Act 2001 (Cth). Actual results may differ materially. These are not guarantees of performance.

When you invest in Fresh Earth today, you're not waiting for a stock market listing. Your returns come through five funded mechanisms — share buybacks, approved secondary sales, royalty-stream events, dividends, and country licence sales — all fed by what the platform earns across multiple countries. The more countries go live, the more liquidity becomes available.

Think of it like owning shares in a private company that earns licensing fees from its technology. When the company is doing well — earning royalties from multiple countries — it can buy back some of your shares, or let you sell them to an approved buyer. You don't need the company to list on the stock market to get your money back. You just need it to keep executing.

Liquidity risk: There is no guaranteed minimum holding period, and no obligation on the Company to provide liquidity at any time. All five pathways are conditional on milestones being reached. You may lose all or part of your invested capital. Only invest an amount you can afford to lose and that you do not need access to for an extended period.

For wholesale investors only under s708(8) and/or s708(11) Corporations Act 2001 (Cth). Investor certificates must be current and in FEU's possession before any offer is made. Not financial advice. Not a PDS or offer document. Past performance is not a reliable indicator of future performance.

Forward-looking statements are based on assumptions current at the date of preparation and are made on a reasonable-basis under s769C(1) Corporations Act 2001 (Cth). Actual results may differ materially. These are not guarantees of performance.

Impact on valuation · at First Country Licence

For wholesale investors only under s708(8) and/or s708(11) Corporations Act 2001 (Cth). Investor certificates must be current and in FEU's possession before any offer is made. Not financial advice. Not a PDS or offer document. Past performance is not a reliable indicator of future performance.

Forward-looking statements are based on assumptions current at the date of preparation and are made on a reasonable-basis under s769C(1) Corporations Act 2001 (Cth). Actual results may differ materially. These are not guarantees of performance.

FEIT (Fresh Earth Impact Token) is in development. Not issued or pre-allocated under this offer. Requires separate offer documentation. All valuations in this deck assume zero contribution from FEIT.

FEVT is a future ownership layer. Not issued, sold or pre-allocated under this offer. Any future FEVT issuance requires its own offer document under applicable Australian financial services law.