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CORPORATE PRESENTATION – JANUARY 2021

A P P - T O - D O O R D I N I N G F O R T H E O N - D E M A N D G E N E R A T I O N .

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DISCLAIMER, CONFIDENTIALITY AND FORWARD-LOOKING STATEMENTS

The Presentation contained in this document has been prepared by Just Kitchen Holdings Inc. using its best efforts to realistically and factually present the information contained. However, subjective opinion, dependence upon factors outside Just Kitchen Holdings Inc’s control and outside information sources unavoidably dictate that Just Kitchen Holdings Inc. cannot warrant the information contained to be exhaustive, complete or sufficient. In addition, many factors can affect the Presentation which could significantly alter the results intended by Just Kitchen Holdings Inc., rendering the Presentation unattainable or substantially altered. Therefore, interested users should conduct their own assessment and consult with their own professional advisors prior to making any investment decisions.

This Presentation does not constitute a prospectus or public offering for financing, and no guarantees are made or implied with regard to Just Kitchen Holdings Inc. proposed ventures.

Confidentiality: The Presentation is being disclosed to the user for the user’s discussion, review, and/or evaluation only. The user agrees to hold the Presentation, and all related information and discussions, in strict confidence, except that user may disclose the Presentation to a limited number of advisors and employees of the user to the extent necessary for user to adequately evaluate the Presentation. User warrants that any such persons shall be advised of the confidential nature of the Presentation before gaining access to the same and that no such advisor or employee shall use or disclose the Presentation except as permitted by this Agreement.

Projections: The presentation’s financial and other projections have been prepared using assumptions and hypotheses created by Just Kitchen Holdings Inc. management based on information provided to them and through due diligence. The assumptions used in the preparation of the projection reflect management’s intended course of action for the projection period based upon management’s judgement as to the most probable setoff economic conditions if the assumptions they consider most likely are realized. The assumptions may not necessarily be the most probable and are based upon information existing as at the date of this presentation.

The assumptions are those that management believes are significant to the projection. Some assumptions may not materialize, and unanticipated events and circumstances may occur subsequent to the date of this projection; therefore, the actual results achieved during the projection period may vary materially from the projections.

This projection is based on our assumptions and there is a major risk that actual results will vary, perhaps materially, from the results projected.

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What is JustKitchen?

§ Network of “ghost kitchens” or “dark kitchens” that achieve lower overhead and operating costs.

§ Hub-and-Spoke operating model uniquely enables maximization of efficiencies and margins.

§ Offers delivery-only meals under its own proprietary menus and established restaurant brands.

§ Franchising of virtual kitchens.

HUB

=

ORDER

SPOKE

DELIVER

4

8 8 11 1727 36

42 4753 58

92 92 89 8373 64

58 5347 42

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Offline (call-in delivery, walk-in orders)

Online (via web or app)

Market Overview

ONLINE VS. OFFLINE SHARE OF MAJOR FOOD DELIVERY MARKETS (%)1

1. McKinsey & Company, The changing market for food delivery 2. Research and Markets, 2019 3. Hong Kong Business, Delivering the Virtual Restaurant of Tomorrow, Oct 2019

GLOBAL ONLINE FOOD DELIVERY MARKET (2020 –2023)2

USD$111

USD$154

2020 2023

BILLION

Consumer preferences are shifting –diners want their favorite foods on-demand, and delivered quickly

2019 ONLINE FOOD DELIVERY INDUSTRY IN ASIA3

= nearly 50% of global demand.

USD$53 BILLION

4

BILLION

11.5% CAGR

55

DELIVERY ZONE

OUT OF ANGE.

OUT OF LUCK

OUT OF RANGE.OUT OF LUCK

Underserved Market

Underserved Market

TAIPEI CITY

Underserved Market

The ProblemBrick-and-mortar restaurants are costly to open and operate:

§ 3-5% profit margins on average1, with a failure rate of 70% within 3-5 years of opening2

Solutions Are Emerging§ “Ghost” kitchens reduce operating and overhead

expenses by eliminating the high cost of restaurant seating

However...Co-sharing ghost kitchens still:

§ Lack support, such as supply chain, kitchen equipment and other operating systems

§ Lack geographical reach – typically constrained by 4-5 km delivery radius

TYPICALGHOSTKITCHEN

1. Toast Lab, 2019. 2. Hong Kong Business, Delivering the Virtual Restaurant of Tomorrow, October 2019.

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§ Hub (full-scale commercial kitchen) provides semi-prepared food items to Spokes

Hub and Spoke “Virtual” Kitchens

Hub

Spoke

Spoke

Spoke

Spoke

Spokes serve valuable urban areas with smaller, cheaper footprints.

Spoke

JustKitchen’s Unique Model

§ Spokes complete meals for delivery

§ Extends geographic reach§ Tailored supply to local demand§ Increases rate of food output§ Lowers average delivery time§ Results in hotter, faster and fresher food

ADVANTAGES:

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Food & Beverage Landscape – JustKitchen Expertise

CustomersInfrastructure

ProviderDelivery

MarketplacesRestaurants/

Product MakersContent Licensers/

Franchises

Software:POS

Software: Online Ordering

KitchenInfrastructure

Data Integrator

Software

Third-Party Logistics

VirtualKitchens

B2CB2B

3rd Party Logistics

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Western Cuisine

JustKitchen’s In-House Brands

Legend:

Third-Party Partners

$

§ Price points§ Cuisine types§ Brands§ Day-Parts§ Evolving pipeline of food items

Tailoring for Markets

$

$$$

Asian Cuisine Western Cuisine

Offering a variety of:

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Delight

Select partners quickly transport food items to end customers

DelightCreate Hub Spokes DeliveryLocal kitchen complete meals in 5 minutes

Meals are semi-prepared then sent to Spokes

Create meals, menus and food brands

25% customer feedback & data to create menus & project demand

Customers enjoy fresher and faster meals

Tech Stack – Leveraging Data to Create Value

DelightDelightDeliverySpokesHubCreate

§ Customer data informs menu creation and improves supply chain management § Data determines menu, time of day, type of food to proactively predict demand

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Virtual Kitchen Franchise Model

Infrastructure

Restaurants/Product Makers

Content Licensers/Franchises

KitchenInfrastructure

Data Integrator Software

VirtualKitchens

Proprietary Brands

JustKitchen software integration into all delivery / marketplace platforms

Equipment & design know-how and expertise

Operator / Franchisee operates virtual kitchen

Licenses rights

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Taiwan: Gateway to the World

20.7 Billion Meals / yr.

60% of Americans orderfood 2 times per week1,which accounts for:

LOW OVERHEAD &OPERATING COSTS

HIGH MARKET EXPOSURE

§ Minimal cost to start a business

§ Mature market to test and scale up globally

§ Established food & beverage industry

§ USD $16 Billiondining market, growing 17 years consecutively

§ High Density(24 million people on a 36,193 km2 island)

1, Upserve, 2020

JUSTKITCHEN EXPANSION ROADMAP

JustKitchen is currently planning to expand to:

Hong Kong

Singapore

Indonesia

Thailand

United States

Philippines

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Leadership Team

Jason Chen, CEO, President, and Director: 25 years in top-level management and capital markets in North America and Asia

Kent Wu, COO & Director: 20 years of e-commerce and logistics experience; three successful exits, most recently to GrubHub

Adam Kniec, CFO: Former CFO of 10+ companies across industries including software development, casinos and online gaming

Mark Lin, CTO: 10+ years in business development and operations management for information technology and payment processing companies in North America and APAC

Yang Liu, CSO: 15+ years in corporate development and business development for publicly-traded companies in the Food & Beverage Industry

John Yu, CMO: 15+ years in retail and operations management in Asia; founder of multiple consumer brands across numerous industries

Darryl Cardey: Chartered Professional Accountant previously with KPMG; director and financial advisor to public and private companies in the resource and technology sectors

Darren Devine: Co-Principal of CDM Capital Partners; advisor to numerous multinational M&A transactions

Kai Huang: Creator of Guitar Hero while Co-Founder & CEO of RedOctane; Co-Founder & CEO of Blue Goji; Co-Founder & CEO of Adux Software

Freddie Liu: Partner at Purestone Capital Group; CSO of TPK Holdings – currently one of the world’s largest makers of touch screens for mobile phones and tablets; former head of Real Estate unit at Citibank

E X E C U T I V E O F F I C E R S I N D E P E N D E N T D I R E C T O R S

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Spokes are designed to meaningfully contribute to Hub capital costs, operating expenses and corporate-level SG&A expenses.

Country Taiwan US

Capital cost per Spoke* (all dollars in USD) $191,667 $255,667

Average daily orders per Spoke 350 450

Average dollar amount per order $12.00 $15.00

Annual gross revenue (365 days) $1,533,000 $2,463,750

Operating profit per Spoke $321,930 $517,388

Operating profit margin 21% 21%

One-Year ROIC 68% 102%

Payback Period (in years) 0.60 0.49

*Total estimated capital cost per Spoke in Taiwan and the US includes direct Spoke-related costs and an allocation of $95,667 for indirect Hub-related costs ($1,148,000 per Hub, allocated equally over twelve Spokes).

Sample: Full-Year Economics per Mature Spoke:

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Competitive Landscape

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Company Name Total Funding to Date*

Pre-MoneyValuation*

Country Software Infrastructure Restaurants/Products

Content/ Franchises

REEF Technology $1.2 B $900 mm USA

Cloud Kitchens $550 mm $4.6 B USA

Ordermark $150.6 mm Unknown USA

Chowbus $67.2 mm Unknown USA

Chownow $62 mm $135 mm USA

Kitchen United $50 mm $100 mm USA

Rebel Foods $342 mm $400 mm India

Karma Kitchen $318 mm Unknown UK

Hungry Panda $90 mm Unknown UK

Sweetheart Kitchen $48 mm Unknown UAE

Keatz $23 mm $25 mm Germany

Yummy Corporation $19.8 mm Unknown Indonesia

FanTuan $17 mm Unknown Canada

JustKitchen $9.6 mm $14 mm Taiwan*All dollars in USD

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Timeline of Target Milestones

By Dec 31, 2020

YTD2020 2021

Obtain seed capital, incl. from Sparklabs

Complete initial Boardappointments

Operate with one Hub and four Spokes

Secure key employees and strategic advisors

Launch grocery delivery as a new business line

Grow to 11 in-house food brands/menus

Partner with new third-parties/restaurants

Grow to 8 Spokes

Continue core data technology build-out

Grow to 14 Spokes

Grow to 13 in-house food brands/menus

Grow to two Hubs – currently in discussion with one of the largest food factories in Taiwan

Launch customer loyalty/rewards program

Explore development of own delivery fleet

35 Spokes in Taiwan

Expand to Hong Kong

Begin international expansion beyond Taiwan and Hong Kong

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Thank you.

JASON CHENPresident & CEO

jason@justkitchen.com

INVESTOR RELATIONSir@justkitchen.cominvestors.justkitchen.com

SEE OUR KITCHENSWatch Video:

http://investors.justkitchen.com/https://vimeo.com/467708178/aec79b8ad5

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Appendix

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The Ghost Kitchen Industry - Making Global Headlines

“Operating a virtual kitchen has a lot of advantages over operating a traditional

restaurant: lower operational cost, lower risks, more efficiency and more flexibility..”

– Forbes, September 29, 2020

“…opening a bricks-and-mortar restaurant is high-risk and expensive, whereas ghost kitchens are lower-risk, offering a more affordable way

for entrepreneurs to enter the business.” – The New Yorker, June 28, 2020

“A pandemic surge in food delivery has made ghost kitchens and virtual eateries

one of the only growth areas in the restaurant industry”

– The Washington Post, September 17, 2020

“Nathan’s Famous announced its partnership withREEF Kitchens…a national network of 70+

neighborhood kitchens across 18 cities that allows food entrepreneurs, local restaurants, and (US)

restaurant brands to open and quickly expand their delivery businesses.”

– QSR Magazine, July 28, 2020

“Kroger is the latest big name to underwrite ghost kitchens… Chick-fil-A and Wendy’s are among the others getting in

on the trend.” – Fast Company, October 8, 2020

“Dark kitchens (or cloud kitchens) on track for a bright future in a post-

coronavirus world .” – ABC News, September 11, 2020

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JustKitchen in the News

https://www.restaurantindia.in/article/how-this-taiwan-based-cloud-kitchen-has-achieved-75-customer-loyalty-during-the-pandemic.13787

https://www.digitimes.com/news/a20201202PD217.html?mod=0

https://taipeitimes.com/News/biz/archives/2020/09/19/2003743674

https://www.taiwannews.com.tw/en/news/3996938

https://meet.bnext.com.tw/intl/articles/view/46698

https://www.restaurantindia.in/article/how-this-taiwan-based-cloud-kitchen-has-achieved-75-customer-loyalty-during-the-pandemic.13787https://www.digitimes.com/news/a20201202PD217.html?mod=0https://taipeitimes.com/News/biz/archives/2020/09/19/2003743674https://www.taiwannews.com.tw/en/news/3996938https://meet.bnext.com.tw/intl/articles/view/46698

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JustKitchen: Media Exposure in Asia

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JustKitchen: Media Exposure in Asia

22

影片報導壹電視新聞台【新聞深呼吸】疫軍突起新經濟-全台瘋外送無店面虛擬廚房單月狂賣3萬個便當！https://www.youtube.com/watch?v=yQ-4gT-pkp0&feature=youtu.be

年代新聞台【年代關鍵字】雲端廚房正夯！一次開5家餐廳https://youtu.be/p29ZDvYhZEo

年代新聞台【台灣向錢衝】外送商機逾兩百億幽靈廚房拚升級

https://youtu.be/FG1WC1jX-Cg?t=279

文字報導商業周刊-影子廚房當紅兩個「水管系統財」爆發中https://www.businessweekly.com.tw/Archive/Article?StrId=7001330

今周刊-隱藏版科技廚房現身，Just Kitchen不只賣快，也賣美味https://www.businesstoday.com.tw/article/category/183015/post/202008250044/%E9%9A%B1%E8%97%8F%E7%89%88%E7%A7%91%E6%8A%80%E5%BB%9A%E6%88%BF%E7%8F%BE%E8%BA%AB%EF%BC%8CJust%20Kitchen%E4%B8%8D%E5%8F%AA%E8%B3%A3%E5%BF%AB%EF%BC%8C%E4%B9%9F%E8%B3%A3%E7%BE%8E%E5%91%B3

天下雜誌-3分鐘就可出餐、外送範圍更廣。「幽靈廚房2.0」怎麼做到？https://www.cw.com.tw/article/5100449?template=transformers

遠見雜誌-幽靈廚房、科技茶園擁抱智慧「神助手」https://www.gvm.com.tw/article/72966

JustKitchen: Media Exposure in Asia

https://www.youtube.com/watch?v=yQ-4gT-pkp0&feature=youtu.behttps://youtu.be/p29ZDvYhZEohttps://youtu.be/FG1WC1jX-Cg?t=279https://www.businessweekly.com.tw/Archive/Article?StrId=7001330https://www.businesstoday.com.tw/article/category/183015/post/202008250044/%E9%9A%B1%E8%97%8F%E7%89%88%E7%A7%91%E6%8A%80%E5%BB%9A%E6%88%BF%E7%8F%BE%E8%BA%AB%EF%BC%8CJust%20Kitchen%E4%B8%8D%E5%8F%AA%E8%B3%A3%E5%BF%AB%EF%BC%8C%E4%B9%9F%E8%B3%A3%E7%BE%8E%E5%91%B3https://www.cw.com.tw/article/5100449?template=transformershttps://www.gvm.com.tw/article/72966

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部落客愛吃鬼芸芸米其林一星大三元酒樓，也有UBER EATS外送餐盒啦https://aniseblog.tw/223576

美食家Facebook貼文徐天麟https://www.facebook.com/1283552023/posts/10223732328797899/?extid=zhuu4wCXRvJ2GCdW&d=n

Perayhttps://www.facebook.com/534386606/posts/10157181781036607/?extid=MMn3ZsDDI3d3967D&d=n

愛吃鬼芸芸https://www.facebook.com/382641298513460/posts/3122173711226858/?extid=3MyAQ6WfziEfGLtk&d=n

Claire食旅記事https://www.facebook.com/1755448491/posts/10207788304942996/?extid=dQgrreTjxFnR4hka&d=n

Daily Focushttps://www.facebook.com/142716382509372/posts/3291018304345815/?extid=8aYkiPRTuHFQzo3r&d=n

JustKitchen: Media Exposure in Asia

https://aniseblog.tw/223576https://www.facebook.com/1283552023/posts/10223732328797899/?extid=zhuu4wCXRvJ2GCdW&d=nhttps://www.facebook.com/534386606/posts/10157181781036607/?extid=MMn3ZsDDI3d3967D&d=nhttps://www.facebook.com/382641298513460/posts/3122173711226858/?extid=3MyAQ6WfziEfGLtk&d=nhttps://www.facebook.com/1755448491/posts/10207788304942996/?extid=dQgrreTjxFnR4hka&d=nhttps://www.facebook.com/142716382509372/posts/3291018304345815/?extid=8aYkiPRTuHFQzo3r&d=n

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Restaurant Industry 2030 – National Restaurant Association, Nov 2019Summary – 10 Sure Things in 2030 (Page 3): https://restaurant.org/downloads/pdfs/research/restaurant2030.pdf)

1. The definition of “restaurant” will change. – “The delivery-only restaurant is on the rise through virtual restaurants and“ghost kitchens.”

2. Off-premises opportunities will drive industry growth. – “Delivery orders are booming, and business models are shiftingfast to find ways to serve that customer base.”

3. Margin pressures will continue. – “Labor costs, real-estate costs, and increasing investments in delivery and technologywill continue to put pressure on the (traditional) restaurant P&L.”

4. Data is king. – “Restaurants will see new opportunities to apply data analytics to predict and capitalize on consumerdemand and optimize supply economics.”

5. Restaurants will serve - and employ - a different demographic. – “Restaurant operators will need to accommodate boththe dining preferences and work styles of an increasingly diverse American public.”

6. Recruitment, retention and training will remain top priorities. – “Restaurants will compete with other industries for techtalent.”

7. Technology will drive tremendous advances in food safety, food sourcing, and sustainability. – “As the supply chaingrows increasingly complex, operators will leverage blockchain and other new traceability technologies…to become moreefficient, transparent organizations.”

8. Government will be a greater factor in everything operators do. – “Governments may continue to add to the legislation,taxation and regulation affecting restaurant operators.”

9. Sustainability isn’t just a buzzword. – “It’s an important way to drive costs down as well as showcase the industry’s effortsto attract and serve the growing number of guests who are interested in everything about sustainability... “

10. Restaurants will continue to bring people together. – “That strong commitment to guests and consumers of every typewill be core to the industry’s identity in 2030 as operators innovate and thrive in an age of increasing technology.”

https://restaurant.org/downloads/pdfs/research/restaurant2030.pdf

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JustKitchen’s Unique Technology Ecosystem

26

JustKitchen: Neihu Hub Facility

RECIPE CREATION EQUIPMENT STORAGE

Standardized Spoke Kitchen Layout

EXTERIOR ORDER PROCESSING REFRIGERATION

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Taipei Neihu Taipei Bade Taipei Xinyi Taipei Gongguan

Taichung Wenxin New Taipei City Banqiao New Taipei City Zhonghe New Taipei City Shihlin

JustKitchen: Neihu Hub Facility

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New Concept: JustKitchen “Container” Spokes

JustKitchen has partnered with FoodPanda to develop portable “container” Spoke kitchens that can be set up in high density areas where real estate is more expensive, for a fraction of the cost.

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JustMarket is leveraging brand recognition, existing SKUs and real estate into grocery deliveries:

§ Global online grocery estimated at US$198.5B in 2020 and projected to reach US$550.7B by 2027.

§ Platform sell grocery items base on real-time data analytics.

§ 20 targeted locations in Taiwan.

§ Special and artisanal products to feature both in-house and third-party brands, for example:

Ø “Body Fit” SeriesØ "Nutritionist Guided" SeriesØ “Smith & Wollensky” Steak House SeriesØ Michelin Chef Series

JustMarket: Business Vertical – Online Grocery Delivery

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§ Hub-and-spoke model reduces delivery distances and lowers JustKitchen’s carbon footprint

§ Lack of dine-in infrastructure reduces consumption of utilities

§ Efficient operations and modern technologies lower food spoilage and waste

§ Food packaging is minimized while keeping meals warm

§ Virtual board meetings and materials to minimize emissions and paper waste

§ Cybersecurity and customer data privacy is highly respected

§ Independent chairperson of the board with four independent directors and one member of company management

§ Audit, compensation and nomination committees all have independent chairpersons

§ Balance of domestic and international membership

§ Areas of expertise reflect JustKitchen’s core capabilities

E N V I R O N M E N T A L

§ Menus and brands attuned to health consciousness

§ Business model designed to encourage/reward feedback from customers

§ Low capital requirement enables flexibility to respond to changing trends

§ Percentage of profits to be donated to charities focused on alleviating hunger

§ Mission of working with aspiring local chefs and entrepreneurs to incubate culinary businesses

S O C I A L

JustKitchen: ESG Focus

G O V E R N A N C E

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Founder’s Story

Jason Chen – President & CEO of JustKitchenA legacy of building successful restaurant brands and franchises in Taiwan

2013

Bayshore Pacific Hospitality Ltd (“BPH”) is established.

BPH completes successful turnaround of TGI Fridays franchise in Taiwan.

2015: BPH launches the Texas Roadhouse franchise in Taiwan.

BPH acquires the Dan Ryan’s Chicago Grill franchise.

BPH acquires Amaroni’s franchise.

2018: BPH launches Smith & Wollensky franchise (upscale American steakhouse) in Taiwan.

2019: JustKitchen established in Taipei, Taiwan.

2017 2020

BPH has a combined revenue of over US $100 million, with 28 restaurants and 1,300 employees.

JustKitchen is currently growing across Taiwan with plans to expand in Asia and globally.

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In-House Food Brands / Menus

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Food Brands: BIT Beef Noodle Menu

34

Food Brands: Body Fit Menu

35

Food Brands: Hot Ones Menu

36

Food Brands: Blue Avocado by Michael Wendel

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Food Brands: K.Bao Menu

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Food Brands: Just Chicken Menu

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Food Brands: LuWei Lab Menu

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Food Brands: Thai High Healthy Bento Menu

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Food Brands: Go Lean Nutritionist Designed Menu

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Food Brands: SiChuan Beef Noodle

43

Food Brands: Hot Pot

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Food Brands: Japanese Unadon Eel Rice & Curry Rice

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Partner Brands: Michelin 1 Star, 3 Coins Menu

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Partner Brands: The Plate Michelin, Orchid by Peng Menu

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Partner Brands: T.G.I. Fridays

4848

Sample - JustMarket Branded Grocery Items

49

JustMarket: - Body Fit Proteins

50

JustMarket: - Michael Wendel's Bread Collection

51

JustMarket: - Smith & Wollensky Steak