Evogene Ltd. Q4 FY2025 earnings call

• Evogene made strategic transformation in 2025, focusing on ChemPass AI, human health (small molecule drugs) and agriculture (novel ag chemicals) markets. • ChemPass AI has competitive advantage with generating novel molecules based on vast chemical space and optimizing multiple parameters. • Collaborations with Google Cloud, including second collaboration to integrate advanced AI agents. • In human health, advancing partnered drug discovery programs with several collaborations. • In agriculture, AgPlenus applying ChemPass AI with strategic collaborations and internal pipeline. • Implemented organizational realignment and cost reduction initiatives, including divesting misaligned assets, resizing organization, etc.

In 2025, revenues totaled approximately $3.9 million compared to $5.6 million in the previous year. Operating expenses net for the year ended 2025 were approximately $13.8 million vs $22 million in 2024. Fourth quarter 2025 operating expenses net were approximately $3.2 million vs $4.3 million in 2024. Cost of revenues for 2025 was approximately $4.1 million vs $2.4 million in 2024. Fourth quarter 2025 cost of revenues was $2.3 million vs $0.7 million in 2024. R&D expenses net of nonrefundable grants for 2025 were approximately $8 million vs $12.5 million in 2024. Fourth quarter 2025 R&D expenses were approximately $1.8 million vs $2.7 million in 2024. Sales and marketing expenses for 2025 were approximately $1.5 million vs $2 million in 2024. Fourth quarter 2025 sales and marketing expenses were approximately $0.3 million vs $0.4 million in 2024. General and administrative expenses for 2025 decreased to approximately $4.3 million from $7 million in 2024. Fourth quarter 2025 general and administrative expenses decreased to approximately $0.9 million vs $1.3 million in 2024. Operating loss for 2025 was approximately $14 million vs $18.8 million in 2024. Fourth quarter 2025 operating loss was approximately $5.2 million vs $3.5 million in 2024. Net loss for 2025 was approximately $7.8 million vs $18.1 million in 2024. Fourth quarter 2025 net loss was approximately $5.4 million vs net loss of approximately $5,000 in 2024. Revenues for 2025 were mainly affected by lower revenue from AgPlenus. Cost of revenues was affected by Casterra's inventory impairment. R&D, sales and marketing, and general and administrative expenses decreased due to various organizational realignments and divestitures. AgPlenus was integrated into core operations, Lavie Bio sold majority operations, Biomica scaled down operations and entered license agreement, Casterra ceased Kenya operations and recorded impairment.

• Company expects reduced expense level to be sustained in future periods. • Anticipates cash from Lavie Bio and Biomica distributions to satisfy cash needs for at least mid next year. • Expects additional technology collaborations with companies like Google and others. • Anticipates more collaboration agreements with pharma, biotech, and other chemical companies, which could inject cash and drive value creation.

• Uncertainties from the aftermath of the war between Israel and terrorist groups, and destabilizations in Israel, neighboring territories or Middle East region. • Risks related to the success of product development and commercialization efforts, including uncertainties in partnership progress and market acceptance. • Risks associated with inventory impairments and operational changes in subsidiaries like Casterra.

Q: Can you speak to the terms of the BMC128 license agreement with Lishan Pharmaceuticals?

A: The agreement includes milestone payment based on advancing BMC128 or commercial transactions, and revenue sharing from end product revenue.

Q: Can you speak to the magnitude of cash potentially coming in from Lavie Bio and Biomica. To summarize, can you highlight investor catalysts over the coming 12 months?

A: Cash from Lavie Bio and Biomica distributions expected to satisfy cash needs for at least mid next year. Investor catalysts include additional technology collaborations with companies like Google, more collaboration agreements with pharma/biotech companies, and collaborations with other chemical companies