Top 10 Dairy Technologies- Partner M&A targets 9.2M dairy cows & 95M beef cows in US alone Low startup risk - SG&A, R&D nearly paid for 1. Automated Milking Systems (AMS) 2. Activity Monitors (e.g., SCR, CowManager) 3. Rumen Boluses (e.g., smaXtec) 4. Milk Analyzers (e.g., Afimilk) 5. Herd Management Software (e.g., DairyComp, VAS) 6. Feed Automation & Mixers (e.g., Lely Vector) 7. Genomic Selection Tools 8. Robotic Feed Pushers (e.g., Juno) 9. Thermal Imaging Cameras for Mastitis Detection 10. Wearable Sensors for Heat & Health Detection Introductory gross margin on 500 units = $194 / 63.6% Margin improves with