Local Bounti (Leo Holdings III)

We are a blank check company. We intend to focus our search for a target business in the consumer sector and believe our management team is well suited to identify opportunities that have the potential to generate attractive risk-adjusted returns for our shareholders, although we may pursue a business combination opportunity in any business or industry. Our company was founded by senior executives of, and advisors to, Lion Capital. We believe that we derive significant benefit from our affiliation with Lion Capital. We will seek to capitalize on Lion Capital’s experience and capabilities through the leadership of Lyndon Lea, Ed Forst and Robert Darwent, combined with the expertise of the other members of our management team, in connection with consummating our initial business combination. Our selection process will leverage our management team’s and strategic advisor’s broad and deep relationship network, industry expertise and proven deal-sourcing capabilities to provide us with a number of business combination opportunities. We will focus our search on established companies with a leading competitive position, strong management team, collaborative and collegiate culture, robust financial profile and strong long-term potential for profitability.