Investment Case. Niri Kintyre Ltd. A seafood and renewable energy production concept for the future. October 2016

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1 Investment Case Niri Kintyre Ltd. A seafood and renewable energy production concept for the future October

2 Niri salmon The fish shown below has never been in the sea. It has been grown in a Niri land based tank in optimal conditions. 2

3 Niri Kintyre Ltd. Niri Kintyre Ltd. was established in Glasgow The company has access to approximately 20 Ha of land on a business development site near Campbeltown in the Kintyre peninsula on the west coast of Scotland. The site is situated close to the sea. The most important infrastructure is already built and can be utilised by Niri Kintyre Ltd. 3

4 Low risk outline land based salmon project Niri AS is seeking a Joint Venture partner for Niri Kintyre Ltd, Scotland, with a view to expanding the business and increasing profitability more rapidly. The company is building in two phases an integrated land-based fish farm system with an annual capacity of 40,000 metric tonnes of salmon. In phase one 9 tanks will be created with a total production capacity of 4,500 metric tons of salmon per annum. A biogas plant with a capacity to turn all the effluents from the tanks to electricity will also be constructed in this phase. The tanks are independent of each other and will be constructed and operated individually at rate of one per month. Phase two will commence after phase one is fully operational and a further 70 tanks will be built during the following 12 month period. In this phase a processing and bioprospecting plant will also be constructed. 4

5 Niri Kintyre Ltd Niri Kintyre Ltd is 90% owned by Niri AS. Major shareholders of Niri AS control Niri Scotland Ltd which has already established the world s biggest land based tank for growing full size salmon at Machrihanish, near Campbeltown. This 1,600m 3 structure, will be ready for harvest in April

6 The fish in Machrihanish are growing well. Picture from October 6,

7 Fully contained production units 1-2 to weeks to construct each unit The picture above is a 32m diameter tank similar to the 9 tanks Niri Kintyre will develop and have operational before September The company intend to utilize reduced fish stocking densities in this phase although the tanks are designed to hold maximum stocking densities. 7

8 Executive summary Niri AS was established in 2008 in Måløy Norway with the aim of commercializing land based salmon farming. As of 2011, the company has succeeded in developing a remarkable land-based model for sustainable sea food production. The concept has a number of competitive advantages compared to traditional aquaculture and sea capture of wild salmon. Not only has Niri developed a more cost effective production model than sea cages, but the production method also produces a higher quality sea food than traditional production methods. Risks related to disease and environment issues are also dramatically reduced. Furthermore, Niri has developed a fully integrated concept that produces renewable energy from waste. The total concept is fully contained and can be constructed in a range of geographical locations. The seafood production technology has successfully been tested with live fish in Cork, Ireland and in Norway. Various scientific assessments have also been conducted to verify the production concepts. 8

9 Niri Kintyre Ltd - phase 1 Tranche M Final testing and adjustment Pre-engineering Boreholes Tranche 2 3 M Planning, construction and start up of first tank Planning, construction and start up of biogas facility Construction of two sea pipes. Tranche M Tank 1 Tank 2 Tank.. Tank 9 Start up of one tank every month. 9

10 Business model and scaling I Phase One Pre-engineering, preparation of infrastructure. Partially completed. Construction and start-up of a 500 Kw biogas plant. Construction and start-up of first grow-out tank, approx. size 6,000 m 3 Construction of nine tanks. Further February 2017 First tank in operation, then a further 8 tanks will be commissioned every month following. Construction of a biogas plant with a target operational date Q Sludge from fish farm will be stored until the biogas plant is in operation. 10

11 Business model and scaling II Phase two: Q Q Monthly harvest 250 MT HOG salmon. Construction of approx. 70 grow-out tanks over the next 12 months. Construction of processing plant, primary processing plant & smolt farm. Construction of biotechnology plant. By Q production will be 40,000 tons per annum. Investor equity required for Phase Two: 30m- 50m. 11

12 For further information and investor relations please contact: Arve Gravdal CEO Mobile : post@niri.com Jack Kavanagh Mobile : kavanaghtiggy@aol.com 12