Stryve Foods : Investor Presentation

INVESTOR PRESENTATION

JUNE 2023

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS

Certain statements made in this presentation (the "Presentation") are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "may", "will", "would", "could", "intend", "aim", "believe", "continue", "target", "milestone", "expect", "estimate", "plan", "outlook", "objective", "guidance" and "project" and other similar expressions that predict or indicate future events or trends or that are not statements regarding the plans, strategies, objectives, targets and expected financial performance of Stryve Foods, Inc. (the "Company" or "Stryve"). These forward-looking statements reflect

Stryve's current views and analysis of information currently available. This information is, where applicable, based on estimates, assumptions and analysis that Stryve believes, as of the date hereof or as of the date of such information that is indicated in the Presentation, provide a reasonable basis for the information and statements contained herein. These forward-looking statements involve various known and unknown risks, uncertainties and other factors, many of which are outside the control of Stryve and its officers, employees, agents and associates. These risks, uncertainties, assumptions and other important factors, which could cause actual results to differ materially from those described in these forward-looking statements, include: (i) the inability to achieve profitability due to commodity prices, inflation, supply chain interruption, transportation costs and/or labor shortages; (ii) the ability to meet financial and strategic goals, which may be affected by, among other things, competition, supply chain interruptions, the ability to pursue a growth strategy and manage growth profitability, maintain relationships with customers, suppliers and retailers and retain its management and key employees; (iii) the risk that retailers will choose to limit or decrease the number of retail locations in which Stryve's products are carried or will choose not to carry or not to continue to carry Stryve's products; (iv) the possibility that Stryve may be adversely affected by other economic, business, and/or competitive factors;

1. the possibility that Stryve may not achieve its financial outlook (vi) Stryve's ability to maintain its listing on the Nasdaq Capital market; (vii) Stryve's ability to secure debt financing, maintain its liquidity position and implement cost savings measures;

1. our ability to continue as a going concern; and (ix) other risks and uncertainties described in the Company's public filings with the SEC.

Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those projections and forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward looking statements as a predictor of future performance as projected financial information, cost savings, synergies and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information herein speaks only as of (1) the date of this Presentation, in the case of information about Stryve, or (2) the date of such information, in the case of information from persons other than Stryve. Stryve undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Stryve's industry and end markets are based on sources that Stryve believes to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

NON-GAAP FINANCIAL MEASURES

This Presentation also includes certain financial measures not presented in accordance with generally accepted accounting principles ("GAAP") including, but not limited to, EBITDA and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing Stryve's financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. Stryve's presentation of these measures may not be comparable to similarly-titled measures used by other companies. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures.

INDUSTRY AND MARKET DATA

The information contained herein also includes information provided by third parties, such as market research firms. None of Stryve, its affiliates, nor any third parties that provide information to Stryve, such as market research firms, guarantee the accuracy, completeness, timeliness or availability of any information. None of Stryve, its affiliates, nor any third parties that provide information to Stryve, such as market research firms, are responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or the results obtained from the use of such content. Neither Stryve nor its affiliates give any express or implied warranties, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use, and they expressly disclaim any responsibility or liability for direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees or losses (including lost income or profits and opportunity costs) in connection with the use of the information herein.

TRADEMARKS

This Presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names, copyrights or products in this Presentation is not intended to, and does not imply, a relationship with Stryve, or an endorsement or sponsorship by or of Stryve. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this Presentation may be listed without the TM, SM © or ® symbols, but such references are not intended to indicate, in any way, that Stryve will not assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights.

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PRESENTERS

CHRIS BOEVER	ALEX HAWKINS
Chief Executive Officer	Chief Financial Officer

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COMPANY OVERVIEW

Stryve is redefining meat snacks with its better-for-you offerings -

low-sugar,high-protein,all-natural,air-dried beef.

Founded in		NASDAQ:		TTM March '23 Sales
	SNAX
2017			$27 Million
	(De-SPAC in 2021)

One-of-a-Kind		Omni Channel		Growing Footprint
Vertical Integration		Distribution Strategy		Significant Opportunities

MAJOR BRANDS

Purposeful Consumer Segmentation Creating and Leading a Sub-Category in Meat Snacks

#1 in MULO 2

#1 in Natural 2

#1 in Convenience Growth 2

Notes:

(1) SPINs data as of 5/21/2023: Stryve #1 air-dried meat snack brand in MULO, Kalahari is the #1 air-dried meat snack brand in Natural, Vacadillos #1 fastest growing air-dried meat snack in convenience

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LONG-TERM INVESTMENT THESIS

HEALTHY SNACKING PLATFORM

focused on manufacturing and marketing highly differentiated, protein-rich, healthy snacks to consumers

and offering category expanding retail solutions for our retail partners

SNACKING		PROTEIN
Consumers are Snacking More		Consumers are Prioritizing Protein

70%	56%
of Americans snack two or more	of Americans believe they need
times per day2	more protein in their diet2

Notes:

(1)	U.S. Snacks Market Data Source: www.grandviewresearch.com
(2)	Source: Advantagesolutions.net; Mintel 2017, Snacking Motivations and Attitudes; Mintel 2018, The Future of "Fresh"
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