Goose Island UK and AeroFarms Partner to Launch Hail Hydro, a Session IPA, to Advance Sustainable Brewing

Brewed with hops grown indoors by AeroFarms and its proprietary vertical farming technology platform

Goose Island UK and AeroFarms^®, a certified B Corporation and leader in indoor vertical farming have unveiled today Hail Hydro - a brand new session IPA made from groundbreaking hydroponic hops grown indoors by AeroFarms, who is focused on elevating agriculture around the world and helping address some of our most pressing agriculture supply-chain challenges.

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Hail Hydro is the latest beer in Goose Island’s Impossible IPA series - a new selection of beers which embrace the creation of new recipes using innovative hops and techniques. The 4.7% hazy session IPA utilizes hydroponic hops grown at AeroFarms’ global headquarters in Newark, New Jersey, U.S.A., where AeroFarms has over 100,000 square feet of indoor vertical farming for both commercial and R&D production, utilizing methods that can yield up to 390 times greater productivity annually, while using up to 95% less water and zero pesticides versus traditional field farming.

Skipping the soil, the hydro-cascade hops are submerged in a growing medium that supports and nourishes the roots of the plant with nutrient-rich water through AeroFarms’ indoor vertical farming technology platform. This method allows hops to be grown anywhere in the world, at any time of the year with consistent results, and to generate higher yields with fewer resources. With growing seasons and outdoor climate conditions in a major flux right now, hydroponic hops grown in AeroFarms indoor vertical farms for elevated resilience and flavor are undoubtedly the future, and a groundbreaking development in the beer world.

In terms of flavor notes, the beer packs a refreshing citrus punch with hints of lemon and lime, hitting all the right notes when it comes to Session IPAs, clocking in at a delicious 4.7% abv. Fresh and zingy, it tastes as bright as the future of agriculture. Consumers will be able to scan a QR code on the can’s packaging that will take them to a farm tour of AeroFarms’ unique growing indoor vertical technology.

Hail Hydro is available in limited supply now, only on the Goose Island UK Webstore. www.gooseislandshop.com

“Hydroponically cultivated hops are an exciting prospect, and the potential innovation opportunities and sustainable benefits are exciting for the craft community,” said Joe Bevan Innovation Brewer Goose Island UK. “Brewing with the cascade was a new experience for us! We saw zingy lime, soft lemon, and a subtle resinous from the hydroponically grown hops.”

“AeroFarms is proud to have partnered with Goose Island UK and the broader Anheuser-Busch InBev team for more than a year to demonstrate our unique growing capabilities,” commented David Rosenberg, Co Founder & CEO of AeroFarms. “We have succeeded in growing mature hops as well as propagating high-quality rhizomes, designed to improve field production of hops. The hops used in Hail Hydro were grown in our completely controlled environment, hydroponically with no pesticides, using blue and white lights in place of sunlight to grow the best plants possible. It has been an incredible partnership, bringing their long-time expertise in quality brewing to our research commercialization collaboration. Together, AeroFarms’ R&D group and Goose Island UK are demonstrating the promise of a new premium product, pairing master brewing with premium hops that can be grown year-round indoors.”

About Goose Island

Established in Chicago in 1988, Goose Island is known for award winning, expertly crafted beers. From flagship brews like the award-winning Goose IPA to Bourbon County Brand Stout, Goose Island endeavors to brew beers worthy of conversations, debates and celebrations – we don’t need to be the only beer you drink, we just want to be the best beer you drink.

About AeroFarms

Since 2004, AeroFarms has been leading the way for indoor vertical farming and championing transformational innovation for agriculture. On a mission to grow the best plants possible for the betterment of humanity, AeroFarms is a Certified B Corporation with global headquarters in Newark, New Jersey. Named one of the World’s Most Innovative Companies by Fast Company two years in a row and one of TIME’s Best Inventions in Food, AeroFarms patented, award-winning indoor vertical farming technology provides the perfect conditions for healthy plants to thrive, taking agriculture to a new level of precision, food safety, and productivity while using up to 95% less water and no pesticides ever versus traditional field farming. AeroFarms enables local production to safely grow all year round, using vertical farming for elevated flavor.^™ In addition, through its proprietary growing technology platform, AeroFarms has grown over 550 varieties, has innovated in speed breeding, and has developed multi-year strategic partnerships ranging from government to major Fortune 500 companies to help uniquely solve agriculture supply chain needs. For additional information, visit: https://aerofarms.com/.

On March 26, 2021, AeroFarms announced a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV). Upon the closing of the business combination, AeroFarms will become publicly traded on Nasdaq under the new ticker symbol "ARFM". Additional information about the transaction can be viewed here: https://aerofarms.com/investors/.

No Offer or Solicitation

This press release does not constitute an offer to sell or a solicitation of an offer to buy, or the solicitation of any vote or approval in any jurisdiction in connection with a proposed potential business combination among Spring Valley and AeroFarms or any related transactions, nor shall there be any sale, issuance or transfer of securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful. Any offering of securities or solicitation of votes regarding the proposed transaction will be made only by means of a proxy statement/prospectus that complies with applicable rules and regulations promulgated under the Securities Act of 1933, as amended (the “Securities Act”), and Securities Exchange Act of 1934, as amended, or pursuant to an exemption from the Securities Act or in a transaction not subject to the registration requirements of the Securities Act.

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “might,” “will,” “estimate,” “continue,” “contemplate,” “anticipate,” “intend,” “expect,” “should,” “would,” “could,” “plan,” “predict,” “project,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, including those regarding Spring Valley’s proposed acquisition of AeroFarms are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of AeroFarms and Spring Valley and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AeroFarms and Spring Valley. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed transaction or that the approval of the stockholders of Spring Valley or AeroFarms is not obtained; failure to realize the anticipated benefits of the proposed transaction; risks related to the expansion of AeroFarms’ business and the timing of expected business milestones; the effects of competition on AeroFarms’ business; the ability of Spring Valley or AeroFarms to issue equity or equity-linked securities or obtain debt financing in connection with the proposed transaction or in the future, and those factors discussed in Spring Valley’s Annual Report on Form 10-K, Quarterly Report on Form 10-Q, final prospectus dated November 25, 2020 and definitive proxy statement/prospectus dated July 26, 2021 under the heading “Risk Factors,” and other documents Spring Valley has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Spring Valley nor AeroFarms presently know, or that Spring Valley nor AeroFarms currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Spring Valley’s and AeroFarms’ expectations, plans, or forecasts of future events and views as of the date of this press release. Spring Valley and AeroFarms anticipate that subsequent events and developments will cause Spring Valley’s and AeroFarms’ assessments to change. However, while Spring Valley and AeroFarms may elect to update these forward-looking statements at some point in the future, Spring Valley and AeroFarms specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Spring Valley’s and AeroFarms’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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