News alert from Agronomics Limited

23 February 2023

Agronomics Limited

("Agronomics" or the "Company")

Agronomics Welcomes Marisa Drew to the Board of Directors

Agronomics (ANIC:LSE), the leading listed company focused on the field of cellular agriculture is pleased to announce that it has today appointed Marisa Drew as an Independent Non-Executive Director. Marisa Drew is the inaugural Chief Sustainability Officer ("CSO") of Standard Chartered Bank Plc, responsible for setting the bank's sustainability strategy and the delivery of the firm's commitment to net zero carbon emissions by 2050 as well as overseeing the sustainable finance client-facing activities of the bank. Prior to this, she held the CSO role at Credit Suisse as well as being CEO of the Sustainability Strategy, Advisory & Finance Group. Marisa also Co-Chaired the Sustainability Leaders Committee, served on the ESG Steering Committee, the Climate Risk Strategy Steering Committee, and the UK Reputational Risk Committee of the bank. Marisa also sits on the member of the UK Financial Conduct Authority'sMarkets Practitioner Panel and has served on several High Level Working Groups ("HLG") sponsored by the World Economic Forum and the UN, including as co-chair of the HLG for Humanitarian Aid and the Oceans Panel.

As a globally recognised leader in sustainability, Marisa brings a vast wealth of experience to the Board and is thoroughly aligned with Agronomics' mission of bringing sustainable alternatives to agricultural products to consumers by investing in leading cellular agriculture companies.

Marisa Drew, Non-Executive Director of Agronomics commented: -

"I am delighted to be joining the Board of Agronomics at this truly exciting time in the field of cellular agriculture. Over the past year, Agronomics has grown its portfolio and is investing in ground-breaking companies and technologies creating a more sustainable protein production system. I look forward to working with my fellow board members to support the growth of the portfolio companies and scaling of the industry."

Jim Mellon, Co-Founder and Executive Director of Agronomics commented: -

"It is a pleasure to welcome Marisa to Agronomics' Board of Directors. Marisa brings with her a wealth of experience, particularly in the sphere of sustainability, and has a track record of achieving investor returns in her previous roles. As a recognised leader in sustainability, Marisa will be well equipped to work with Agronomics' senior team to enhance its portfolio and help advance the prospects for the field of cellular agriculture."

Marisa Danielle Drew (aged 58) is or has during the last five years been a director or partner of the following companies and partnerships:

Marisa Drew is also on the Advisory Boards of the Financial Conduct Authority (Expert Markets Practitioners Advisory Panel), The City of London Corporation and Room to Read, an education charity, and was on the Advisory Board at The Wharton School (EMEA Countries Advisory Board) until 2022.

Other than as disclosed above, there are no further disclosures to be made in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

About Agronomics

Agronomics is a leading listed alternative proteins company with a focus on cellular agriculture and cultivated meat. The Company has established a portfolio of over 20 companies in this rapidly advancing sector. It seeks to secure minority stakes in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals, as well as being fundamental to feeding the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/.

About Cellular Agriculture

Cellular Agriculture is the production of agriculture products directly from cells, as opposed to raising an animal for slaughter, or growing crops. This encompasses cell culture to produce cultivated meat and materials, and fermentation processes that harness a combination of molecular biology, synthetic biology, tissue engineering and biotechnology to massively simplify production methods in a sustainable manner.

Over the coming decades, the source of the world's food supply traditionally derived from conventional agriculture is going to change dramatically. We have already witnessed the first wave of this shift with the consumer adoption of plant-based alternative proteins but today, we are on the cusp of an even bigger wave of change. This is being facilitated by advances in cellular agriculture. This change is necessary, given scientists claims that if we maintain existing animal protein consumption patterns, then we will not meet the Paris Agreement's goal of limiting warming to 1.5℃.

AT Kearney, a global consultancy firm, projects that cultivated meat's market share will reach 35% by 2040. This combined with the Good Food Institute's estimate that a US $1.8 trillion investment will be required in order to produce just 10% of the world's protein using this technology, means that we are on the cusp of a multi-decade flow of capital to build out manufacturing facilities. Funding in the field of cellular agriculture is accelerating, however still less than US$ 5 billion has been invested worldwide since the industry's inception in 2016.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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