Solar Foods Update

Agronomics (LSE: ANIC), a leading listed company in the field of clean food, is pleased to announce that its portfolio company, Solar Foods Oyj ("Solar Foods"), in partnership with Japanese food manufacturer Ajinomoto Co. Inc ("Ajinomoto"), has introduced a Solein®-powered Flowering Ice Cream in connection with the World Aquatics Championships, Singapore 2025.

The Atelier Seven Two ("Atlr.72™") Flowering Ice Cream and other products, made with Solein®, will be sold in food trucks at the World Aquatics Championships Arena during the event in Singapore from 18 July to 3 August 2025.

The Japanese multinational food and biotechnology company Ajinomoto's brand Atlr.72™, promotes a new food lifestyle that is healthy and environmentally conscious, responding to consumers' growing demand for nutrition and sustainably focused products.

Following a strategic product development partnership with Ajinimoto in 2023, the first limited-edition products of Atlr.72™, Flowering Mooncakes and Ice Cream Sandwiches, both powered by Solein®, were launched in September 2024. Earlier this year, Ajinomoto launched the Atlr.72™ Flowering Ice Cream, which received strong positive feedback from customers. The ice cream is available in Singapore in three flavours, all powered by Solein®.

Solein® is a versatile protein grown from the air we breathe. The unique bioprocess takes a single microbe and ferments it using air and electricity to produce a nutritionally rich and versatile ingredient which can replace protein virtually in any food, or to fortify existing recipes as a source of iron, fibre and B vitamins.

Today's news follows Solar Foods announcing earlier in the month that it has signed a Letter of Intent regarding commercialisation of 500-1,650 tonnes of Solein® per year as well as a new partnership with Sensapure Flavors, Inc to develop new flavour combinations for its product concepts of ready-to-mix protein shakes and ready-to-drink protein drinks made with Solar Foods Solein®.

Jim Mellon, Executive Chair of Agronomics, commented: "Today's news showcases the immense progress within the clean food industry, with Agronomics' portfolio companies, including Solar Foods, at the forefront. The partnership with Ajinomoto, a globally recognised and well-respected brand committed to providing consumers with healthy and sustainable products, demonstrates the versatility this technology offers in helping them to achieve these goals. The World Aquatics Championships presents a significant opportunity to introduce consumers to this innovative food product, and we are eagerly looking forward to seeing this partnership and product range continue.

Juan Benitez Garcia, Chief Sales Officer of Solar Foods commented: "We are very excited that Ajinomoto is introducing Solein®-powered products for consumers during the World Aquatics Championships - Singapore 2025, and we are proud to support Ajinomoto in promoting a new food lifestyle including healthier and more environmentally friendly snacking. Solein® delivers a protein boost to the indulgent products, adding outstanding nutrition with a minimal environmental impact."

To date, Agronomics has invested a total of £5.28 million in Solar Foods which, subject to audit, is currently carried at £7.15 million. This position represents c.4.92% of Agronomics' last stated Net Asset Value as at 30th of June 2025.

The full announcement is set out below without any material changes:

18.7.2025: Tokyo - The leading Japanese food manufacturer The Ajinomoto Group introduces a Solein®-powered Flowering Ice Cream in connection with the World Aquatics Championships - Singapore 2025. The Atlr.72® Flowering Ice Cream and other products are available in food truck at the World Aquatics Championships Arena during the event in Singapore from 18 July to 3 August 2025.

The Japanese food giant Ajinomoto's conscious brand Atlr.72® promotes a new food lifestyle that is healthful and environmentally conscious, responding to consumers' growing demand for healthy and sustainable products. In connection with the World Aquatics Championships - Singapore 2025, Ajinomoto introduces a Solein-containing Flowering Ice Cream to fuel both event visitors and athletes.

The first limited-edition products of Atlr.72®, Flowering Mooncakes and Ice Cream Sandwiches, both powered by Solein, were launched in September 2024. Earlier this year, Ajinomoto launched the Atlr.72® Flowering Ice Cream, which has received great feedback from customers. The ice cream is available in Singapore in three flavours, all powered by Solein.

From casual sweets to daily food options, Ajinomoto plans to expand Atlr.72® beyond casual, enjoyable sweets to include daily food options, aiming to provide a food experience that allows people to enjoy eating while contributing to a better future for people and the planet. Atlr.72🄬 also envisions opening a flagship store that showcases the brand's global vision in future.

Solar Foods and Ajinomoto entered into a strategic product development partnership in 2023.

"We are very excited that Ajinomoto is introducing Solein®-powered products for consumers during the World Aquatics Championships - Singapore 2025, and we are proud to support Ajinomoto in promoting a new food lifestyle including healthier and more environmentally friendly snacking. Solein® delivers a protein boost to the indulgent products, adding outstanding nutrition with a minimal environmental impact," says Juan Benitez Garcia, the Chief Sales Officer of Solar Foods.

About Solar Foods

Solar Foods produces protein using carbon dioxide and electricity. Solein® production, irrespective of weather and climate conditions, liberates global protein production from the constraints of traditional agriculture. Solar Foods, founded in 2017 in Espoo, Finland by Dr Pasi Vainikka, Dr Juha-Pekka Pitkänen, Sami Holmström, Jari Tuovinen, Professor Jero Ahola, and Janne Mäkelä as a spinoff from VTT Technical Research Centre of Finland and LUT.

University. http://www.solarfoods.com

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