MustGrow Biologics (MGRO) investor relations material

Market opportunity and industry trends

• Global fertilizer and pesticide market projected to reach $380B by 2032, with biologics and regenerative products as the fastest-growing segment.

• Increasing regulation on synthetic chemicals is driving demand for organic and sustainable alternatives.

• EU targets 25% of land under organic farming by 2030, supporting growth in biologics.

• Biocontrol and biofertility markets expected to grow at 15% and 12.2% CAGR, respectively.

• Soil and environmental health are critical industry drivers.

Product portfolio and commercialization

• TerraSANTE is a registered biofertility product, launched in the US and targeting high-value crops.

• TerraMG is a pre-registered biocontrol product targeting soil-borne diseases and pests, with ongoing registration in North America and EMEA.

• Commercial sales ramp-up for TerraSANTE began in 2025, with product sold out on 1,000 acres in 2025.

• Bayer partnership for TerraMG in EMEA, with estimated $35-40M investment for commercialization.

• Asset-light production model with manufacturing partners in Canada, EU, and Asia.

Financials and capital structure

• 70.4M shares outstanding, $30M CAD market cap, and 17% management and advisor ownership.

• Cash position of $4.37M CAD as of June 30, 2026, with no-interest debt due only upon change of control or revenue milestones.

• Gross margin estimates for TerraSANTE range from 20-40%, with potential for higher margins as production scales.

• Initial production capacity of 650 tonnes, scalable to 2,000-3,900 tonnes with minimal capex.

• Commercial licensing model includes upfront, milestone, and royalty payments.