21^st March 2022

Agronomics Limited

("Agronomics" or the "Company")

Agronomics and Roslin Technologies Launch Pioneering

Cultivated Meat Pet Food Venture

Agronomics, the leading listed investor focused on cellular agriculture, and Roslin Technologies Limited ("Roslin Technologies"), a food biotechnology company, are excited to announce the launch of their first joint venture, Good Dog Food Limited ("Good Dog Food"). Good Dog Food will develop a novel range of healthy, eco-friendly pet food products made using cultivated meat.

Good Dog Food is an exclusive venture between Roslin Technologies and Agronomics, focusing on pet food. Roslin Technologies is partially owned by the University of Edinburgh and has preferential rights to IP from the Roslin Institute, famous for Dolly the sheep, the world's first cloned adult mammal¹.

Meat provides essential nutrients for companion animals, however, when produced from livestock or fish, it is a major driver of climate change and often results in the overexploitation of natural resources. Food for companion animals accounts for almost a quarter of meat produced in the US², and in the US alone it is estimated dog and cat food is responsible for 65 million tons of CO₂-equivalent methane and nitrous oxide³.

The Company believes that many pet owners are looking for more sustainable alternatives and cultivated meat can provide a healthy, ethical, and sustainable source of meat for their pet's food. Cultivated meat is grown from cells without the need to raise and slaughter animals and has the potential to have a significantly lower environmental impact.

Roslin Technologies brings to the venture its world-leading animal cell line technology, including its pluripotent stem cells that continuously self-renew - ideal for cultivated meat production. In addition, Roslin Technologies' privileged relationship with the University of Edinburgh provides the venture with access to leading animal science and world-class research facilities and capabilities.

Agronomics brings a network of passionate investors and cultivated meat experts that will provide the expertise to build the venture. Led by CEO, Owen Ensor, Good Dog Food will focus on the development, registration, and product launch of healthy, eco-friendly cultivated meat pet food products. This will reduce the use of live animals and can considerably reduce the environmental footprint of pet food.

Jim Mellon, Executive Director of Agronomics and Chairman of Good Dog Food said:-

"An untapped sector of the agricultural market is the production of pet food via cellular agriculture. We are delighted to be able to announce our first joint venture in the cultivated meat field, to focus on the production of cultivated pet food.

As a dog owner I have been looking for high-quality meat alternatives to provide to my dogs. Good Dog Food will do exactly that. It is even more exciting to know that Good Dog Food may accelerate the introduction of cultivated meat to the broader public."

Ernst van Orsouw, Roslin Technologies' CEO, adds:-

"We are very pleased to be launching this exclusive venture with Agronomics. Combining our joint passion for a more sustainable world and our unique complementary expertise will allow Good Dog Food to become the global leader in cultivated meat-based pet food products and make a positive impact on the food chain."

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 20 companies at the Pre-Seed to Series C stage 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 Roslin Technologies

Roslin Technologies Limited is an ambitious food and agriculture technology company which creates disruptive biotechnologies to improve how we make proteins. Its core capabilities lie in generating animal cell lines and resources for cultivated meat production. Roslin Technologies provides a unique portfolio of cell lines to the global cultivated meat sector. The company is partially owned by the University of Edinburgh and has preferential rights to IP from the Roslin Institute, famous for Dolly the sheep, the world's first cloned adult mammal.

For more information on the Cultivated Meat Pet Food Venture, please contact:

-     Owen Ensor, CEO, Good Dog Food, info@gooddogfood.com

-     Jess Taylor, Marketing manager, Roslin Technologies, jessica.taylor@roslintech.com

For further information please contact:

Ends

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Sources:

¹See Roslin Technologies

²dogs and cats consume about 25 per cent of the total calories derived from animals in the United States, University of California. https://www.sciencedaily.com/releases/2017/08/170802142835.htm

³ Article Source: Environmental impacts of food consumption by dogs and cats 
Okin GS (2017) Environmental impacts of food consumption by dogs and cats. PLOS ONE 12(8): e0181301. http://doi.org/10.1371/journal.pone.0181301