26 May 2026

BSF Enterprise PLC

Strategic Update  May 2026

BSF Enterprise PLC ("BSF" or the "Company"), a biotech platform company driving a bio-sustainable future through its three high-growth subsidiaries, announces updates to its strategic operations for 1/2-year 2026. The activities are structured to accelerate commercialisation with imminent value-inflection milestones across BSF's three subsidiaries -beyond any existing research and development (R&D).

Key Milestones & Near-Term Catalysts

Lab-Grown Leather Ltd (LGL) - Lead Catalyst (June 2026)

●    World-First Product Launch: LGL has developed T-Rex Leather™- high-end leather alternative grown from synthetic dinosaur DNA using BSF's proprietary ATEP™ scaffold-free tissue manufacturing platform.

●    Paris Auction: A tanned T-Rex skin has been completed, and a world-first luxury avant-garde handbag has been manufactured by a Berlin-based designer. The item is scheduled to be auctioned on June 11 at Dourot, a leading Paris auction house, supported by a global PR campaign and marketing by VML.

●    Spin-Out Pathway: Post-catalyst, LGL will seek independent spin-out funding to scale production capacity, allowing it to raise capital at the subsidiary level without diluting BSF parent shareholders.

Kerato Ltd - Clinical Results & Commercialisation (Q3-Q4 2026)

●    LiQD Cornea™ Hydrogel: Targeting the expanding corneal transplant world market.

●    Veterinary Clinical Trials: Phase 1 veterinary trials (50% funded by Canadian government grants) commenced in Q1 2026. Kerato has reached the midpoint of its PSO-funded development programme for LiQD Cornea, achieving key technical, regulatory and operational milestones. These include a successful pre-ITA engagement meeting with Health Canada and ongoing implementation of an ISO 13485-compliant quality management system to support future clinical translation activities.

●    Commercial Outlook: Kerato aims to sign commercial distribution agreements in Q4 2026 , leading to first commercial veterinary sales in early 2027. Applications for human trials with Health Canada are planned for 2026-2027. Similar to LGL, a subsidiary-level self-funding spin-out is planned post-catalyst.

3D Bio-Tissues Ltd (3DBT) - Commercial Momentum (Active Now)

●    Revenue Generation: Targeting the massive bio-based materials world market. 3DBT has commercially launched its CytoBoost™ REVIVE media factor into biopharma and expanded sales of its City-Mix^R product into cultivated meat sectors.

●    Sales Growth: 3DBT has experienced significant growth in customer orders over a recent 3-month period.

●    Commercial Pipeline: Secured a supply agreement with Seawith, yielding an active £500,000 pipeline. New cultivated meat partnerships and further biopharma client expansions are progressing through Q2 and Q3 2026.

Strategic Progress

The Board believes 2026 represents a critical time for BSF and its shareholders based on three key pillars:

1.   Progressing from R&D towards Commercialisation: The Company has made significant progress in translating its research programmes into commercial and clinical-stage activities. The T-Rex leather exists, Kerato trials are live, and CytoBoost™ is shipping.

2.   Simultaneous Infrastructure Upside: Unlike single-asset plays, there are three completely distinct high-growth assets simultaneously , distributing risk and multiplying potential upside events.

3.   Anti-Dilutive Spin-Out Structure: The Board is evaluating potential subsidiary-level financing options, including possible spin-out structures, which may enable future growth capital to be raised at subsidiary level.

Management Leadership

The execution of these commercial milestones is led by a highly experienced technical and capital markets management team:

●    Dr. Che Connon (Managing Director): International leader in Tissue Engineering with over 100 publications; founder of four previous biotech spin-outs.

●    Geoff Baker (Executive Director): Qualified lawyer (Australia & Hong Kong) with an extensive track record commercialising biomedical and industrial innovations.

●    Graham Duncan (CFO): Chartered Accountant with more than 20 years of capital markets experience, holding an ICAEW Corporate Finance Diploma.

●    Ricardo Gouveia (CSO): Bioengineering and biochemistry specialist with 20 years of dedicated research in stem cell and tissue biofabrication.

END

Engage with the BSF Enterprise management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here:

https://bsfenterprise.com/link/egGk3e

 For further enquiries, please visit www.bsfenterprise.com or contact:

Subscribe to our news alert service: https://bsfenterprise.com/s/bb9f43

About BSF Enterprise PLC

BSF Enterprise PLC (LSE:BSFA; OTCQB: BSFAF) develops and commercialises cutting-edge tissue-engineered solutions, including lab-grown leather (via LGL), cultivated meat, and corneal repair technologies. By leveraging its proprietary scaffold-free ATEP™ platform, BSF delivers sustainable, high-performance alternatives to conventional materials, targeting global markets where provenance, ethics, and performance are increasingly prized by consumers and brands alike.