25 March 2026

Agronomics Limited

("Agronomics" or the "Company")

Clean Food Group announces launch of CLEANOil™ ahead of in-cosmetics Global debut

Agronomics (LSE: ANIC), a leading company in the field of clean food, is pleased to announce that its portfolio company, Clean Food Group Limited ("CFG"), has announced the launch of its latest product - CLEANOil™, ahead of its debut at the in-cosmetics Global trade event in Paris (14- 16 April 2026).

The platform launch marks the progression of CLEANOil™ from concept to commercial reality, with market readiness achieved through its collaboration with beauty manufacturer THG Labs.

Developed using CFG's proprietary fermentation technology and circular feedstocks such as surplus bread, CLEANOil™ addresses multi-industry demand for high-performance ingredients with reduced environmental impact. The ingredient delivers the sensorial quality and functionality associated with premium oils - rich, silky, and naturally high in Omega 6 and 7 - while achieving a >95% reduction in greenhouse gas emissions compared to conventional agricultural oils.

CLEANOil™ will be showcased in the Innovation Zone at in-cosmetics Global, Paris, where CFG will present its approach to combining biotechnology and circular feedstocks in the development of next-generation cosmetic ingredients.

Jim Mellon, Executive Chair of Agronomics, said: " The beauty industry runs on ingredients with complex, fragile supply chains, often dependent on agricultural commodities vulnerable to climate volatility and geopolitical disruption. CLEANOil™ offers a genuine solution to that supply chain security problem. This is not a trade-off between performance and sustainability: it is a better product, made in a better way, with a more resilient and predictable supply chain. Clean Food Group is building exactly the kind of business that I believe will define the next decade of industrial transformation, and the commercial readiness they have achieved with THG Labs is a very encouraging sign of what is to come."

To date, Agronomics has invested a total of £1.6 million in CFG which is, subject to audit, currently carried at £7.0 million. This position represents c.5.0% of Agronomics' last stated Net Asset Value as of 31st December 2025.

The full announcement is set out below, with no material changes:

Clean Food Group announces launch of CLEANOil™ ahead of in-cosmetics Global debut

Biotechnology-derived ingredient platform reaches commercial readiness following cross-industry collaboration

Clean Food Group (CFG) today announces the launch of CLEANOil™, its biotechnology-derived ingredient platform for the beauty industry, ahead of its debut at in-cosmetics Global in Paris (14- 16 April 2026).

The platform launch marks the progression of CLEANOil™ from concept to commercial reality, with market readiness having been achieved through a connected innovation ecosystem with full service beauty manufacturer THG Labs, integrating biotechnology development, formulation validation and the industrial scale-up of sustainable ingredients.

Developed using CFG's proprietary fermentation technology and circular feedstocks such as surplus bread, CLEANOil™ addresses multi-industry demand for high-performance ingredients with reduced environmental impact. The ingredient delivers the sensorial quality and functionality associated with premium oils -rich, silky, and naturally high in Omega 6 and 7 - while achieving a >95% reduction in greenhouse gas emissions compared to conventional agricultural oils.

CLEANOil™ reflects a broader shift in how ingredients are sourced and produced, demonstrating the role of biotechnology and circular feedstocks in enabling more sustainable supply chains.  The ingredient has been designed to meet both environmental and performance requirements and has been evaluated within real formulation systems. It is compatible across a wide range of formats, maintaining colour and odour stability while delivering an elegant sensorial profile.

Scalability has been a core consideration in the development of CLEANOil™. CFG's fermentation platform and manufacturing process have been validated at scale, supporting consistent production and facilitating adoption by global brands.

CFG's collaboration with THG Labs has supported the translation of the technology into a commercially viable ingredient. Through formulation expertise and product development capabilities, the collaboration has enabled CLEANOil™ to progress beyond proof of concept, with demonstrated performance in finished products and across relevant application formats.

Alex Neves, CEO of Clean Food Group, said: "The launch of CLEANOil™ is a defining moment for us as a business. We have always believed biotechnology has the potential to fundamentally reshape how ingredients are made, and with CLEANOil™, we are showing that sustainable alternatives can meet, if not exceed, the performance expectations of the beauty industry. Just as importantly, through our partnership with THG Labs, we have been able to translate that science into something brands can confidently formulate with today."

Kristal Goodman, Head of Product Innovation at THG Labs (part of THG PLC), added: "What's been exciting about working with Clean Food Group is the opportunity to support genuinely new biotechnology and help shape it for the industry. Our role has been to prove that CLEANOil™ does not just work in theory - it works in formulation, at scale, and within the demands of modern beauty product development. That is what ultimately gives brands the confidence to adopt new ingredients."

CLEANOil™ will be showcased in the Innovation Zone at in-cosmetics Global, Paris, where CFG will present its approach to combining biotechnology and circular feedstocks in the development of next-generation cosmetic ingredients.

CFG expects that future ingredient innovation will be evaluated not only on performance, but also on production methods and supply chain impact. CLEANOil™ represents a step towards this transition.

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About Clean Food Group

CFG is a leading UK biotech manufacturer of sustainable oils and fats for the global food, cosmetic and pet food industries. Through its proprietary CLEAN OilCell™ technology platform, CFG delivers functional oils (CLEAN Oil™) and fats (CLEAN Fat™) at price parity to agriculture alternatives, whilst meeting the growing need for local and sustainable production. In 2025, its  CleanOil™ 25 product received approval to be used as a cosmetics ingredient in the UK, US and Europe.

Founded in 2022 after eight years of pioneering research, CFG manufactures its oils and fats from food waste, leveraging scalable yeast strains and fermentation technology to deliver sustainable alternatives to traditional oil and fat ingredients. With the manufacturing process now validated at scale and significantly bolstered by the transformation acquisition of a 1 million litre fermentation facility in Knowsley, Liverpool in 2025, CFG has strategic and industrial collaborations in place with leading global FMCG and ingredients manufacturers and has a strong demand pipeline for its products.

CFG has a vastly experienced management team with a successful track record in scaling businesses in high growth regulated industries. For more information on CFG, please visit  Clean Food Group.

About THG Labs

THG Labs is a UK-based leader in beauty product development and manufacturing, specialising in bespoke formulations for skincare, haircare, bodycare, and suncare. Its multidisciplinary team  of in-house beauty experts includes world-class cosmetic scientists, regulatory specialists, packaging technologists, and highly experienced production professionals.

As the R&D and manufacturing arm of THG Beauty, THG Labs powers innovation and product development for its brands and global names in beauty. THG Labs offers cutting-edge solutions at every stage of the product journey - from concept to consumer. Please visit  https://www.thglabs.com for more information.

About Agronomics
Agronomics is a leading London-listed company focused on investment opportunities within the field of cellular agriculture. The Company has established a portfolio of over 20 companies developing technologies that produce food and materials historically derived from animals, offering solutions for improved sustainability, human health, and food security.

A full list of Agronomics' portfolio companies is available at www.agronomics.im.

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