THE REAL GOOD FOOD COMPANY, INC. Consolidated Balance Sheets (In thousands, except share data) As of December 31, December 31, 2022 2021 ASSETS Current assets: Cash .................................................................... $ 5,279 $ 27,435 Accountsreceivable,net .................................................... 20,316 8,968 Inventories ............................................................... 39,479 16,622 Othercurrentassets ........................................................ 1,026 9,927 Totalcurrentassets .................................................... 66,100 62,952 Propertyandequipment,net ................................................. 38,497 10,289 Operatingleaseright-of-useassets ............................................ 10,881 12,127 Deferredloancost ......................................................... 970 818 Goodwill ................................................................ 12,486 12,486 RestrictedCash ........................................................... 2,318 2,310 Othernoncurrentassets ..................................................... 187 1,162 Totalassets .......................................................... $131,439 $102,144 LIABILITIES AND STOCKHOLDERS’ EQUITY/MEMBERS’ DEFICIT Current liabilities: Accountspayable ......................................................... $ 23,424 $ 15,205 Operatingleaseliabilities ................................................... 1,455 1,040 Financeleaseliabilities ..................................................... 3,310 198 Business acquisition liabilities, current portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 946 8,111 Accruedandothercurrentliabilities ........................................... 3,719 6,763 Currentportionoflong-termdebt ............................................. 370 328 Totalcurrentliabilities ..................................................... 33,224 31,645 Revolvinglineofcredit/capexline ............................................ 59,481 17,501 Leaselineofcredit ........................................................ — 7,258 Long-termoperatingleaseliabilities........................................... 10,030 11,249 Long-termfinanceleaseliabilities ............................................ 24,099 154 TermLoan ............................................................... 10,000 — Long-termBusinessacquisitionliabilities ...................................... 2,405 3,352 Otherlongtermliabilities ................................................... 302 — TotalLiabilities ............................................................... 139,541 71,159 Commitments and contingencies (Note 12) Stockholders’ Deficit/Equity: Preferred stock, $0.0001 par value—10,000,000 shares authorized; no shares issued and outstandingasofDecember31,2021 ............................................ — — Class A common stock, $0.0001 par value—100,000,000 shares authorized; 6,424,840 and 6,169,885 shares issued and outstanding as of December 31, 2022 and 2021, respectively . . 1 1 Class B common stock, $0.0001 par value—25,000,000 shares authorized; 19,377,681 and 19,577,681 shares issued and outstanding as of December 31, 2022 and 2021, respectively ................................................................ 2 2 Additionalpaid-incapital ....................................................... 56,273 49,693 Accumulateddeficit ........................................................... (21,126) (10,143) Total stockholders’ equity attributable to The Real Good Food Company, Inc. . . . . . . . . . 35,150 39,553 Non-controllinginterest ........................................................ (43,252) (8,568) Totalstockholders’equity/deficit ............................................. (8,102) 30,985 Totalliabilitiesandstockholders’equity ....................................... $131,439 $102,144 See accompanying notes to the Consolidated Financial Statements. 51
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