Update on Liberation Bioindustries

(AIM:ANIC) Agronomics Limited provided an update on its portfolio company Liberation Bioindustries regarding the status of its facility in Richmond. Over the past four months, Liberation conducted a strategic review, including exploring a possible sale or joint venture for the facility, but concluded the review with no acceptable offers. Liberation, in collaboration with its key shareholders, will proceed to complete the facility without an external partner. Certain expected funding as part of Liberation's financing package was not received, and recent delays, exceptional costs, and increased global economic conditions have resulted in a funding gap. Construction progress at the site has slowed, and the previously announced target for completion of the facility in Q4 2026 will not be met. Liberation expects to require approximately $25 million in additional funding and six months from securing this funding to complete and commission the facility and achieve first production. The company is working with Agronomics and other institutional shareholders and advisers to secure this funding, which is expected to include additional equity, secured debt, public authority grants and loans, and customer pre-payments. Liberation and Agronomics are working toward having a full funding package in H1 2027, though timing remains uncertain. To date, Liberation has deployed approximately $125 million in equity, debt, and other support payments to fund construction of the facility. All major construction elements have been completed, and the additional funding will be mainly used for piping, welding, and electric work. Key shareholders of Liberation include Agronomics, New Agrarian Company, Jim Mellon, NEOM, and Siddhi Capital Agronomics, all of whom remain fully committed to completing the funding and the facility. As of 30 June 2026, the net asset value of Agronomics' investment in Liberation was £35.28 million, comprising approximately 25% of the company's aggregate unaudited net asset value of £140 million at the same date. The delay in construction and commissioning is not currently expected to have a material impact on the net asset value of Agronomics' investment in Liberation. The company will make a further announcement regarding the financing of Liberation and a target timetable for completion and first production in due course.

Portfolio company Tropic acquires Rahan Meristem

(LSE: ANIC) Agronomics Limited announced that its portfolio company Tropic Biosciences UK Limited has acquired Rahan Meristem (1998) Limited for US$ 20 million. Rahan has operated for more than 50 years and has an established presence in Colombia, Costa Rica, Ecuador, the Philippines and Israel, with capacity to propagate more than 30 million plants per year. Tropic recently raised US$ 105 Million in a Series C round and launched the first new commercial banana varieties in more than 75 years, including a non-browning banana and an extended shelf life variety that lengthens green life by an additional 12 days and reduces transportation waste by up to 50 percent. Agronomics first invested in Tropic in March 2020 and has invested a total of £2.3 million to date, with its position currently carried at approximately £2.2 million, representing approximately 1.6 per cent of Agronomics' most recently reported Net Asset Value of £139 million as at 31 March 2026. Bananas are one of the world's most important agricultural crops with more than 20 million tonnes exported annually. The company projects that the acquisition will accelerate product development and commercial launches through access to Rahan's production infrastructure, field testing plots, mother plantations, agronomy know-how and customer base. Tropic's technology platform is designed to address global agricultural challenges by developing crop solutions intended to benefit farmers, consumers and the environment.

Agronomics portfolio company HydGene Update

(LSE: ANIC) Agronomics Limited announced that its portfolio company HydGene Renewables Pty Ltd has been selected as part of the Greentown Go Make 2026 cohort. HydGene was chosen as one of five companies globally from 148 applicants representing 35 countries. Agronomics first invested in HydGene in 2023 and has invested a total of approximately £1.3 million, which, subject to audit, is currently carried at approximately £1.3 million. This position represents around 1.0% of Agronomics' most recently reported Net Asset Value of £140.0 million as of 31 December 2025. HydGene's platform produces low-carbon hydrogen and industrial chemicals from waste biomass using a modular biocatalyst system designed for distributed deployment. The Go Make 2026 cohort will participate in a kickoff event on June 9 at The Ion in Houston, TX. The company projects that HydGene will have the opportunity to work directly with technical and engineering teams from Shell Catalysts & Technologies and Technip Energies, including in areas such as technical validation, process design, scale-up, operational implementation and market channel development, as they explore potential pathways to commercial deployment.

Agronomics portfolio company Bond Pet Foods Update

(LSE: ANIC) Agronomics Limited announced that its portfolio company Bond Pet Foods Inc has received a Letter of No Objection from the US Food and Drug Administration's Center for Veterinary Medicine for its Lamb Protein Yeast ingredient for use in pet food. The ingredient was developed in collaboration with Hill's Pet Nutrition, Inc and is, to the company's knowledge, the first animal protein produced via precision fermentation to complete the FDA's Generally Recognised as Safe review process for use in pet food for healthy adult dogs. The no-objection determination follows a six-month longitudinal feeding study in dogs and allows inclusion in adult dog food at levels of up to 15% of the finished product. Bond and Hill's have also completed feeding studies in cats using Lamb Protein Yeast and are preparing further submissions to the FDA in support of feline applications. The Hill's-Bond collaboration was first announced in 2021, and more than 25 metric tons of Lamb Protein Yeast have been delivered to Hill's facilities for formulation, testing, and regulatory evaluation. Agronomics has established a portfolio of over 20 companies developing technologies that produce food and materials historically derived from animals. The company believes this development represents a further validation of precision fermentation as a scalable route to producing alternative proteins for companion animal nutrition.

Agronomics leads US$5m investment in SuperMeat

Agronomics Limited (AIM: ANIC) announced it is leading a US$ 5 million investment in SuperMeat The Essence of Meat Ltd. as part of a targeted US$ 10 million Series A-4 financing round. The investment will be satisfied by issuing 26,805,903 new ordinary shares at 13.78 pence per share, a 109% premium to the 8 May 2026 closing price of 6.60 pence. New Agrarian Company Limited is also participating with a US$ 1 million cash investment. Following this round, Agronomics will hold approximately 27.8% of SuperMeat on a fully diluted basis, and its total investment in SuperMeat will reach £15.2 million. The funding is expected to support SuperMeat's commercialisation strategy, with Switzerland identified as the initial target launch market.

Meatly completes £10.4 million Series A funding

Agronomics Limited (AIM: ANIC) announced that its portfolio company, Good Dog Food Limited, trading as Meatly, has completed a £10.4 million Series A funding round. This follows £7.1 million of seed funding, bringing Meatly's total funding to £17.5 million. The proceeds will fund a 20,000-litre bioreactor facility in London, expected to be the largest of its kind in Europe. Agronomics has invested £1.1 million into Meatly since inception and will carry its position at £3.2 million following the financing, with an equity ownership of 11.57% on a fully diluted basis. Product launches from the new facility are anticipated in 2027.