AgFeed Animal Nutrition Holdings, Inc. (0001501266)

Company Snapshot:

We have been in the premix feed business since 1995 and now operate five premix feed manufacturing facilities.

Industry Snapshot:

We expect that the animal nutrition business in China will experience significant consolidation going forward due to the convergence of government policies and natural market forces. Opportunities for us to expand, including through acquisitions, are increasing as the animal feed production industry evolves from traditional processes to modern, industrial scale enterprises capable of supplying high quality, safe products in complete formulations. The need for industrial scale agricultural enterprises is driven by the urbanization of China and the need to feed this growing population safely, which cannot be done from traditional backyard farms. This will lead to a much smaller number of larger integrated market participants. Scale will become increasingly important in the feed business in order to meet the needs of a likewise evolving customer base.

Use Of proceeds:

The primary purposes of this offering are to create a public market for our ADSs for the benefit of all shareholders, retain talented employees by providing them with equity incentives and obtain additional capital. We intend to use the net proceeds from this offering for general corporate purposes, including capital expenditures and funding possible future acquisitions.

Underwriter:

Rodman & Renshaw, LLC

Proposed offering price: TBA

Post IPO Share Calculation: TBA

Financial Snapshot: December Year

2009 vs. 2008

• Revenues: $76.0 million vs. $58.0 million
• Net Income: $5.8 million vs. $6.0 million