Laird Superfood : LSF 4Q23 Investor Presentation

Forward looking disclaimer

Cautionary "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 the Company's current expectations or forecasts of future events and are not guarantees of future performance. Forward-lookingstatements include all statements other than statements of historical fact contained in this presentation, including information or predictions concerning the Company's future financial performance, plans and objectives, competitive position, market trends, succession planning, product pipeline, and potential growth and market opportunities. In some cases, you can identify forward-lookingstatements by words such as "intends," "estimates," "predicts," "potential," "continues," "anticipates," "plans," "expects," "believes," "should," "could," "may," "will", "seeks" or the

negative of these terms or other comparable terminology. Forward-looking statements involve risks and uncertainties, which may cause the 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 expected or anticipated include, but are not limited to: the Company's limited operating history and ability to become profitable; the Company's reliance on third parties for raw materials and production of some of the Company's products, including liquid creamer products; the Company's ability to manage its growth and scale its manufacturing and processing capabilities and requirements effectively; the Company's future capital needs; the Company's ability to retain and grow its customer base; the Company's reliance on independent distributors for a substantial portion of its sales; the Company's ability to evaluate and measure its business, prospects and performance metrics; the Company's ability to compete and succeed in a highly competitive and evolving industry; the health of the premium organic and natural food industry as a whole; risks related to the Company's intellectual property rights and developing a strong brand; the Company's reliance on Laird Hamilton and Gabby Reece and other key employees, including key employees without long tenure with the Company; regulatory risks; risks related to the Company's international operations; the risk of substantial dilution from future issuances of equity securities of the Company; and other factors discussed in our reports filed with the Securities and Exchange Commission, including our Form S-1, and subsequent Quarterly Report(s) on Form 10-Q, and Annual Report(s) on Form 10-K.

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. The Company 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 Company expressly 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 by law. In addition, statements that "we believe" and similar statements reflect the Company's beliefs and opinions on the relevant subject. These statements are based upon information available to the Company 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 not be read to indicate that the Company has conducted an exhaustive inquiry into, or review of, all potentially available relevant information.

Third-PartyInformation: 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 the Company'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 and completeness 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

Our Mission:

To fuel optimal daily performance by providing great-tasting, innovative, highest-quality superfoods that support the health and wellness journey of our consumers.

3

Laird Superfood was founded by two athletes and built to be a nutrition powerhouse to fuel their activities and life

Laird Hamilton	Gabby Reece

• Big wave surfer and pioneer of action water sports	• The Gabby Reece Show podcast host
•	Innovator	•	Best-selling author
•	Author	•	Former professional volleyball player
• Fitness and nutrition expert	• First woman athlete to design a signature shoe
• LSF innovation leader - defines our mission and		with Nike
	ingredient discovery	• LSF ingredient advisor - holds us true to our
			guardrails and innovation design

4

Laird Superfood Strategic "Plan on a Page"

1 Grow our core business

• Expand distro & improve MAPS
• Grow awareness and trial
• Optimize marketing efficiency

2 Innovate in Superfoods

• Expand existing product lines
• Execute packaging innovation
• Expand to new categories

3 Improve LSF Supply Chain

• Ensure capacity and flexibility
• Reduce operational costs
• Ensure product quality

4

5

Build critical capabilities and improve our work processes

• Hire/train/retain critical employees to elevate business performance
• Continue to simplify work processes and IT infrastructure

Improve our P+L and accelerate the path to profitability

• Optimize pricing and leverage scale to improve GM to a sustainable 38%+
• Execute annual zero overhead growth or better
• Pursue consolidation opportunities within/adjacent to our core portfolio

5

LSF investment highlights

✓

✓

✓

✓

✓

✓

✓

Plant-based, clean, functional ingredients that are on-trend with consumers

Large and growing addressable market across core categories

Highly engaged founders with strong equity, reach and relevance

Strong brand equity, net promoter score, and active social community

Actively scaling digital platforms

Management team with extensive experience in consumer goods

Significant whitespace expansion opportunity at retail

6

LSF executive team with extensive experience

Jason Vieth

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 Group

Anya HamillMartha Opela

	CFO			VP, Marketing
•	Chief Financial Officer		• VP of Marketing since
	since July 2022			July 2023
•	CFO at Little Secrets		•	Marketing Director,
•	Sr. Director of Finance			Charlotte's Web
	•
	at WhiteWave Foods		Brand Management at
•	Financial Analyst at			WhiteWave Foods
	•
	Agilent		Brand Management at
				Dish Network

Jared Larkin

VP, Supply Chain

• VP of Supply Chain since August 2022
• Director of Operations and Finance for Picky Bars
• President of KIALOA Canoe Paddles

Steve Richie

General Counsel

• General Counsel since June 2022
• Head of HR since Jan 2023
• EVP, Legal and Human Resources, at Concentrix Corporation
• GC, Annie's, Inc.

7

The Laird Superfood portfolio spans large, attractive categories

	Liquid and Powder	Coffee, Tea and Hot	Snack, Nutrition,	Hydration & Beverage
		Coffee Creamers	Chocolate Products	Performance Bars	Enhancing Supplements
Total
Addressable		$7.3 billion		$29.4 billion	$6.5 billion		$7.4 billion
Market

(TAM)

8

Source: Mintel Report based on IRI InfoScan Reviews, CSPDailyNews.com, US Census Bureau, Economic Census/Mintel (Coffee/Tea, Creamers) , IRI 52WE 10/31/21 (Snack Bars), Future Market Insights & Grandview Research 2022 (Hydration/Bev Enhancing Supplements)

Consumer are upgrading to a new generation of functional food and beverage

59%	83%	+39%
Of consumers agree that functional drinks	Of consumers claim to have recently used	Growth in Functional / Mushroom based
help them accomplish their health goals	beverages containing at least one	products in Coffee & Creamers.
	functional claim.

9

Source: Mintel Functional Drinks Report April 2023, Customer LSF Segmentation Study Aug 2022, SPINS Natural Channel , MULO + Natural Channel 52 weeks ending 9/10/23

LSF steadily increasing Wholesale business each year since 2021

Laird Superfood Total Brand YOY $ Sales (MM) by Quad

Total Marketplace (MULO+NAT+WFM) (Does not include AO business*)

													2021		2022		2023
Retail Sales ($M)
1.8													1.6						1.7	1.6	1.6	1.5
1.6																	1.5
		1.4	1.4	1.3		1.4							1.4
1.4					1.3				1.3						1.2
													1.2	1.2	1.2	1.2
1.2			1.1			1.2		1.1					1.1
		1.1			1.1
		1.0	1.0	1.0			1.0		1.1	1.0 1.0	1.1	1.0		1.0		1.0
1.0											1.0						1.0
		0.8	0.9
0.8
0.6
0.4
0.2
0.0
		29-Jan	26-Feb	26-Mar	23-Apr	21-May	18-Jun	16-Jul		13-Aug	10-Sep	8-Oct	5-Nov	3-Dec	31-Dec
Dol % Chg		+28%		+24%	+15%	+26%	+21%			+38%		+31%		+25%	+28%	+48%	+28%	+25%	+29%
'23 vs. '22
																								10

Source: Company calculations using various sources for retail data