SDOT

• Sadot has shifted from a restaurant-only concept to an emerging player in the global food supply chain, posting five consecutive quarters of positive net income and EBITDA. In 2024, it had its first full year of positive net income and EBITDA.
• Chagay Ravid introduced his background and vision, emphasizing expertise in complex financial transactions and technology solutions, and outlined five strategic pillars: geographic and vertical expansion, margin optimization and cost efficiency, technology and digital infrastructure, strengthening management and culture, and sustainable and ethical growth.
• Paul Sansom introduced his background, reviewed Q2 financial performance, and discussed the company's balance sheet, including the cash balance, working capital, accounts receivable, and the carbon project investment in Indonesia.

• The company will continue with its strategic pillars, including expanding globally, optimizing margins, integrating technology, strengthening management, and pursuing sustainable growth. - It will continue to reinvest cash into the Agri-Foods commodity trading business to drive revenue growth.

In Q2 2025, Sadot Agri-Foods had revenue of $114.4 million, a decrease of $58.9 million (34%) from Q2 2024. This was due to selectively implementing trades with more favorable margins. Gross profit was 4.4% in Q2 2025 compared to 3.3% in Q2 2024, an improvement of 100 basis points. Net income attributable to Sadot Group was $0.4 million, EBITDA was $1.7 million, and basic and diluted earnings per share were $0.07 per share. SG&A expenses were $2.8 million, an increase of $1.1 million from last year. The company had a cash balance of $0.4 million, a working capital surplus of $24.2 million, and accounts receivable of $44.1 million. Additionally, the company invested $13.4 million in a carbon project in Indonesia, which is expected to generate 1.1 - 1.2 million high-integrity carbon credits.

• Slow progress on the sale of the restaurants, which could cause shareholder confusion, high costs, and debt issues. - Delays in collecting some receivables, which led to a recent $2.5 million capital raise. - Tariffs could potentially affect a small percentage of trades, but the company has the ability to move transactions globally to avoid U.S. tariffs in some cases.

Q: What is the status on the sale of the restaurants?

A: Not happy with slow progress, multiple LOIs and due diligence with potential buyers, refocusing efforts to complete the transaction, currently in final stages with strong candidates for combined purchase of Muscle Maker Grill and Pokemoto.

Q: Why did the company recently raise $2.5 million?

A: Due to delays in collecting some receivables and closing on the sale of the restaurants, a straight equity nontoxic deal without warrants.

Q: How do tariffs affect Sadot?

A: Only a small percentage of trades are with the U.S., majority of revenue and trades outside U.S., and can move transactions globally to avoid U.S. tariffs if clients request.

Q: Why have there been so many changes in the Board and management?

A: Strategic change from U.S.-based restaurant company to international player in global food supply chain requires personnel with specific skill sets in food supply chain, finance, and technology, natural as the company grows and pivots