First Tannable A4-Sized Skin Achieved

BSF Enterprise PLC (LSE:BSFA), the tissue-engineering innovator, is pleased to report a significant commercial milestone for its wholly-owned subsidiary Lab-Grown Leather Limited ("LGL"): the successful production of a fully tanned, scaffold-free skin reaching A4 sheet size and approaching 2mm thickness - achieved in a matter of weeks using LGL's proprietary Advanced Tissue Engineering Platform ("ATEP™").

Key Milestones Achieved

• A4-size tannable skin produced at industrially relevant thickness (~2mm)
• Scalable process developed over the last six months using ATEP™
• Scaffold-free architecture delivering bio-equivalent durability, breathability and patina
• Zero-waste geometry: skin cultivated to specification, eliminating traditional hide scrap rates
• T-Rex Leather™ website and social channels live; showcase event confirmed for 2 April 2026

Elemental™: A New Standard for High-Performance Luxury Materials

The Elemental™ product series represents the commercial embodiment of LGL's ATEP™. Over the past six months, the LGL team has engineered a repeatable, scalable process that takes animal cells and cultivates them into a tannable skin product at dimensions that are meaningful to luxury goods manufacturers. This first full tanning of the material - a critical processing step required before leather can be used in finished goods - confirms that Elemental™ is advancing through the technical readiness pathway towards commercial supply.

Unlike many competing bio-based or synthetic alternative materials, LGL's scaffold-free approach means the cells self-organise to produce a material that is bio-equivalent to conventional hide: retaining the structural integrity, tactile properties, and characteristic patina that luxury brands demand. The process can be tuned to produce leathers that are thinner, stronger, or with unique surface characteristics that would be impossible or unethical to source conventionally. Thus LGL is able to uniquely position ElementalTM as a high-end, low-intervention material, setting the standard for a new generation of leather and cultivating a new era for luxury.

T-Rex Leather™ - Where Technology Meets Rarity

One of the most distinctive and commercially compelling applications of LGL's platform is its ability to engineer material inspired by the cellular biology of rare and extinct species. T-Rex Leather™ leverages this capability to offer the luxury and fashion industries access to materials that are, by definition, unavailable by any other means - creating a genuine scarcity narrative that is entirely authentic and ethically sound.

This positions LGL in a unique category: not simply a "more sustainable" version of existing leather, but a genuinely new class of luxury material with intrinsic rarity, provenance, and a powerful story. The T-Rex Leather™ brand has now launched its website and social media presence, and a showcase event has been confirmed for 2 April 2026, which the Company expects to generate significant press and industry engagement.

See links:

Elemental™ skin sample - A4 size, approaching 2mm thickness

Commercial Outlook

The achievement of a tannable skin at A4 scale and industrially relevant thickness is a key gate in LGL's commercialisation roadmap. The Company is now in a position to extend its engagement with luxury goods manufacturers, material distributors, and brand partners on the basis of a tangible, scalable and demonstrable product. LGL's IP-protected ATEP™ platform provides a defensible competitive moat across both the conventional luxury leather market and the emerging exotic/extinct species segment.

The Company will continue to update shareholders on progress, including the outcome of the 2 April 2026 T-Rex Leather™ showcase event.

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ISIN of the Ordinary Shares is GB00BHNBDQ51. SEDOL Code is BHNBDQ5.

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