Investee Company Update: Good Dog Food

Agronomics (ANIC:LSE), the leading listed company focused on the field of cellular agriculture, is pleased to announce that portfolio company Good Dog Food Ltd has rebranded and will now be trading as 'Meatly' in preparation for its upcoming UK product launch.

Since its launch in 2022, Meatly's team of leading scientists has been working to produce ethical and sustainable cultivated meat for pets without compromising on essential nutritional benefits. The team makes real meat, without animals.

Agronomics has invested £1.2 million into Meatly since inception, which is currently carried at £4.95 million. This position accounts for approximately 2.9% of Agronomics last published Net Asset Value (30/09/23), including post-balance sheet adjustments. Agronomics has an equity ownership of 40.7% on a fully diluted basis.

As part of the rebrand, Meatly has launched a new consumer-facing website, www.meatly.pet

CEO Owen Ensor, said: "We're thrilled to announce our rebrand to Meatly, in what marks an exciting new chapter for us as a team and brand. We chose the name 'Meatly' because we wanted to celebrate the fact that that is real meat, made the new way. Our hope is that Meatly will quickly become a household name, loved by pets and pet parents alike, and recognised as the choice for healthy, sustainable, delicious pet food."

"Our pets love meat, but old-fashioned meat, produced through factory farming, requires a huge amount of land, water and antibiotics and is a key cause of environmental degradation. We need cultivated meat now more than ever. Pet food is the natural starting point, given consumers' excitement. We're thrilled to be at the heart of the future of meat production in the UK."

For more information on the status of Meatly production and product availability, please visit the Meatly website: www.meatly.pet

About Meatly

Meatly (previously known as Good Dog Food) was founded in 2022 by CEO Owen Ensor and CSO Helder Cruz with backing from investor Agronomics. The company works to produce ethical and sustainable cultivated meat products for pets without compromising on essential nutritional benefits.

About Cellular Agriculture

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.