Evogene Ltd.

Foreign Filer Report • May 23, 2024

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2024

Commission File Number: 001-36187

EVOGENE LTD.

(Translation of Registrant 's Name into English)

13 Gad Feinstein Street, Park Rehovot

Rehovot 7638517, Israel (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ┒ Form 40-F ┐

CONTENTS

On May 23, 2024, Evogene Ltd. ("Evogene") announced its financial results for the first quarter ended March 31, 2024. A Copy of the press release announcing those results is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6 -K (this "Form 6-K") and is incorporated herein by reference.

Evogene is holding a conference call on May 23, 2024 to discuss its quarterly results for the quarter ended March 31, 2024 and, in connection with that call, will make available to its investors a slide presentation to provide additional information regarding its business and its financial results. That slide presentation is attached as Exhibit 99.2 to this Form 6-K and is incorporated herein by reference.

The GAAP financial statements tables contained in the press release attached as Exhibit 99.1 to this Form 6-K are incorporated by reference in the registration statements on Form F-3 (Securities and Exchange Commission ("SEC") File No. 333-277565), and Form S-8 (SEC File Nos. 333-193788, 333-201443, 333-203856 and 333-259215) of Evogene, and will be a part thereof from the date on which this Form 6-K is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

EVOGENE LTD. (Registrant)

Date: May 23, 2024 By: /s/ Yaron Eldad Yaron Eldad Chief Financial Officer

EXHIBIT INDEX

EXHIBIT NO. DESCRIPTION

• 99.1 Press Release: Evogene Reports First Quarter 2024 Financial Results.
• 99.2 Slide presentation for conference call of Evogene held on May 23, 2024 discussing Evogene's quarterly financial results for the first quarter of 2024.

Evogene Reports First Quarter 2024 Financial Results

Conference call and webcast: today, May 23, 2024, 9:00 am ET

Financial and Business Highlights:

• • Q1 2024 revenue: \$4.2M vs. \$0.6M in Q1 2023; anticipating continued growth in 2024.
• • Q1 2024 net loss: \$3.8M vs. \$7.0M in Q1 2023.
• • Projected 2024 cash usage, excluding Lavie Bio and Biomica: \$8.0M, down 36% from \$12.5M in 2023.
• • Ceasing Canonic's operations results in annualized savings of approximately \$1.5 million.
• • Casterra's new agreements with African and Brazilian castor seed growers secure 900 tons of castor seeds, expected to fulfill all standing orders by end of 2024.
• • Biomica to present preliminary Phase 1 clinical trial results for BMC128 at the 2024 ASCO conference on June 3.
• • Lavie Bio received \$2.5M, the second half of advanced payment from Corteva; announced new collaboration with Syngenta for bio insecticides; extended trials with Bayer for bio fungicides. Marketing and sales for Yalos™ are expanding in the US and Canada, with more crops added.
• • AgPlenus announced a new collaboration with Bayer, including an upfront payment, research funding, milestone payments, and future royalties; achieved a milestone with Corteva in an existing collaboration agreement.

Rehovot, Israel – May 23, 2024 – Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN), a leading computational biology company aiming to revolutionize the development of life-science-based products, today announced its financial results for the first quarter period ended March 31, 2024.

Mr. Ofer Haviv, Evogene's President and CEO, stated: "Evogene's mission is to direct and accelerate the development of life-science based products. During the past years we developed three innovative AI tech-engines addressing the main development challenges of 3 life-science based product categories:

• MicroBoost AI for the development of microbe-based products,
• ChemPass AI for small-molecule-based products, and
• GeneRator AI for products based on genetic elements.

Our AI tech-engines were structured to be compatible with the tremendous potential of various market segments and not limited to only one specific segment.

In order to capture the value of our AI tech-engines, our business strategy is to establish diverse collaborative partnerships through licensing or collaboration, with expert partners in specific fields that complement our technology. Together, we'll develop novel products, aiming for full or partial ownership upon project completion.

This approach maximizes the potential of our AI tech-engines, while reducing financial and development risks. We believe this strategy holds the potential for groundbreaking innovations and significant financial gains for Evogene.

Today, Evogene has 4 subsidiary companies, and diverse engagements with leading companies in additional market segments, not covered by our subsidiaries.

I am very pleased to share with you the main achievements made by Evogene and its subsidiaries from the beginning of the year."

Evogene Updates:

• Ceasing Canonic's operation Evogene has decided to cease its subsidiary Canonic, which specialized in customized medical cannabis products, following challenging market conditions in the medical cannabis sector. This decision results in annualized savings of approximately \$1.5 million. Resources will be reallocated to areas with greater growth potential, such as funding Casterra's needs for on-going capital.
• Establishment of Finally Foods In March 2024, Evogene and The Kitchen FoodTech Hub by Strauss Group, established Finally Foods Ltd., an AI-driven company focused on sustainable protein production in plants, for the food sector. Finally Foods will leverage Evogene's AI technology to modify plants for efficient protein production. The company has secured pre-seed funding from TKH and the Israeli Innovation Authority. Evogene holds approximately 40% stake in the company.
• Collaboration with Verb Biotics - In February 2024, Evogene and Verb Biotics entered into a collaboration agreement to advance probiotic innovation by developing new strains of probiotic bacteria that produce sustainable quantities of microbial metabolites, which enhance human health and vitality. The partnership will leverage Evogene's MicroBoost AI tech-engine and Verb Biotics' expertise in microbiome health.

Subsidiaries Updates:

Casterra Ag Ltd. – focuses on developing an integrated solution to enable large-scale commercial cultivation of castor to address the global demand for stable castor oil supply, mainly for the biodiesel industry. Casterra is utilizing GeneRator AI tech engine to direct and accelerate the development of its unique elite castor seed varieties.

• Under the supervision of Casterra's new CEO, the company has recently engaged with castor seed growers in Africa and Brazil. These engagements are expected to yield approximately 900 tons of castor seeds in 2024, fulfilling all existing purchase orders and providing additional inventory later this year. The balance of the existing purchase orders is anticipated to be delivered in the second half of 2024.

Biomica Ltd. - a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics, utilizing Evogene's MicroBoost AI tech-engine.

• In January, 2024, Biomica reached a significant milestone by completing Phase I trial enrollment for its microbiome-based immuno-oncology drug BMC128 a rationally designed consortia of 4 bacteria. Biomica recently announced that it will be presenting preliminary Phase 1 study data of BMC128 in a poster presentation at the 2024 ASCO Annual Conference, on June 3rd.
• Biomica is now preparing for advancing to Phase 2 of BMC128 clinical trial, and already conducted a pre-IND meeting with the FDA, aiming to initiate Phase 2 in 2025.
• Results from Biomica's pre-clinical study in the IBS program, conducted in collaboration with NYU's medical school, were presented at the Digestive Disease Week 2024 Annual Conference in May 2024.

Lavie Bio Ltd. - a leading ag-biologicals company that develops microbiome-based, computational-driven novel bio-stimulant and bio-pesticide products, utilizing Evogene's MicroBoost AI tech -engine.

• In February, 2024, Lavie Bio announced that it had met the requirements of its licensing agreement for LAV311 & LAV312 with Corteva. This achievement enabled the successful receipt of the second half of an advanced payment, amounting to \$2.5 million, bringing the total to \$5 million.
• In February, 2024, Lavie Bio signed an agreement with Syngenta for the development of new biological insecticidal solutions.
• Lavie Bio has extended its joint validation trials with Bayer for its bio-fungicides, following successful laboratory and greenhouse testing. This joint effort, aimed at combating diseases affecting fruits and vegetables globally, has moved to field experiments for further validation.
• In March, 2024, Lavie Bio partnered with Ceres Global Ag Corp. to integrate its bio-inoculant, YalosTM, into regenerative agriculture programs across the North America. This announcement and other marketing and sales efforts support the penetration of YalosTM in US and Canada markets with additional crops being added for treatment. Based on initial orders and sale projections, 2024 revenues are anticipated to increase compared to the previous year.

AgPlenus Ltd. - a global leader in computational design and development of novel sustainable crop protection products, utilizing Evogene's ChemPass AI tech-engine.

• In February, 2024, AgPlenus announced a licensing and collaboration agreement with Bayer to develop a novel mode of action broad-spectrum herbicide targeting the APTH1 protein. The agreement entitles AgPlenus to an upfront payment, which was received on March 2024, ongoing research funding, milestone payments, and royalties based on future product sales. Bayer will have the exclusive license for developing and commercializing products resulting from this collaboration.
• In March, 2024, AgPlenus announced achieving a milestone under its existing collaboration with Corteva to develop new herbicides through a novel mode of action, APCO12, discovered by AgPlenus. The next phase of this collaboration will focus on optimizing the herbicide candidates towards a commercial-level product.

Financial Highlights:

Cash Position: As of March 31, 2024, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately \$26.6 million, compared to approximately \$31.1 million as of December 31, 2023. The consolidated cash usage during the Q1 2024 was approximately \$4.5 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately \$3.4 million in cash. Projected cash usage for 2024, excluding Lavie Bio and Biomica, is expected to be around \$8.0 million, marking a notable 36% decrease from approximately \$12.5 million in 2023.

Revenue: Revenues for the first quarter of 2024 were approximately \$4.2 million, a significant increase from approximately \$0.6 million in the same period the previous year. This growth was primarily driven by revenues recognized from Lavie Bio's licensing agreement with Corteva and AgPlenus's new collaboration with Bayer. Evogene anticipates continued revenue growth in 2024 compared to the previous year, mainly in the second half of 2024 based on Casterra's forecast for seed-order supply.

R&D Expenses: Research and development expenses for the first quarter of 2024 were stable at approximately \$4.8 million, net of non-refundable grants, consistent with the same period in the previous year.

Sales and Marketing Expenses: These expenses increased to \$992 thousand in the first quarter of 2024 compared to \$800 thousand in the same period of the previous year. The increase was driven by heightened sales and marketing activities for Casterra's elite seed varieties and Lavie Bio's first commercial product, YalosTM.

General and Administrative Expenses: General and administrative expenses rose to approximately \$1.7 million in the first quarter of 2024, compared to approximately \$1.5 million in the same period of the previous year, mainly due to non-cash compensation for subsidiary CEOs.

Other Expenses: The decision to cease Canonic's operations resulted in recording other expenses of approximately \$0.5 million, mainly due to impairment of fixed assets.

Operating Loss: The operating loss for the first quarter of 2024 was approximately \$4.1 million, a decrease from \$6.8 million in the same period of the previous year, mainly due to increased revenues.

Financing Income: Financing income net for the first quarter of 2024 was \$241 thousand, compared to financing expenses net of \$230 thousand in the same period of the previous year. This improvement was primarily due to increased interest income and revaluation of convertible SAFE.

Net Loss: The net loss for the first quarter of 2024 was approximately \$3.8 million, compared to approximately \$7.0 million in the same period last year. The \$3.2 million decrease in net loss was primarily due to increased revenues and financial income, partially offset by the one-time \$519 thousand other expenses related to ceasing Canonic's operations.

For the financial tables click here.

*** Conference Call & Webcast Details: Thursday, May 23, 2024. 9:00 AM EST 4:00 PM IDT To join the Zoom conference, please register in advance here

Or join via audio

US: +12532158782,,87112165951# or +13017158592,,87112165951

US: +1 253 215 8782 or +1 301 715 8592 or +1 305 224 1968 or +1 309 205 3325 or +1 312 626 6799 or +1 346 248 7799 or +1 360 209 5623 or +1 386 347 5053 or +1 507 473 4847 or +1 564 217 2000 or +1 646 558 8656 or +1 646 931 3860 or +1 669 444 9171 or +1 689 278 1000 or +1 719 359 4580 or +1 720 707 2699 or +1 253 205 0468

More International numbers 871 1216 5951

Webcast & Presentation link available at: https://evogene.com/investor-relations/

About Evogene Ltd.

Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN) is a computational biology company leveraging big data and artificial intelligence, aiming to revolutionize the development of life-science based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines – MicroBoost AI, ChemPass AI and GeneRator AI. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes

(MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI). Evogene uses its tech-engines to develop products through strategic partnerships and collaborations, and its four subsidiaries including:

• Biomica Ltd. (www.biomicamed.com) – developing and advancing novel microbiome-based therapeutics to treat human disorders powered by MicroBoost AI;

• Lavie Bio (www.lavie-bio.com) developing and commercially advancing, microbiome based ag-biologicals powered by MicroBoost AI;

• AgPlenus Ltd. (www.agplenus.com) developing next generation ag-chemicals for effective and sustainable crop protection powered by ChemPass AI;
• Casterra Ag (www.casterra.co) developing and marketing superior castor seed varieties producing high yield and high-grade oil content, on an industrial scale for the biofuel and other industries powered by GeneRator AI.

For more information, please visit: www.evogene.com.

Forward-Looking Statements

This press release contains "forward-looking statements" relating to future events. These statements may be identified by words such as "may", "could", "expects", "hopes" "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates" or words of similar meaning. For example, Evogene and its subsidiaries are using forward-looking statements in this press release when they discuss Evogene's strategy, its anticipated growth in 2024, projected 2024 cash usage, expected annualized savings from ceasing Canonic's operations, Casterra's ability to supply all existing purchase orders by the end of 2024 and providing additional inventory, the success of Biomica's microbiome-based drugs in future trials, the results of the validation trials of Lavie Bio with Bayer, the anticipated revenues from sale of Yalos, Ag Plenus receipt of milestone and royalty payments from Bayer and Ag Plenus ability to reach commercial-level products in its project with Corteva. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance, or achievements of Evogene and its subsidiaries may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries, including, without limitation, the current war between Israel, Hamas and Hezbollah and any worsening of the situation in Israel such as further mobilizations or escalation in the northern border of Israel, and those risk factors contained in Evogene's reports filed with the applicable securities authority. In addition, Evogene and its subsidiaries rely, and expect to continue to rely, on third parties to conduct certain activities, such as their field trials and pre-clinical studies, and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, Evogene and its subsidiaries may experience significant delays in the conduct of their activities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections and assumptions.

Evogene Investors' Contact:

Rachel Pomerantz Gerber, Head of Investor Relations at Evogene Email: rachel.pomerantz@evogene.com Tel: +972-8-9311901

CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

As of March 31, As of December 31, 2024 2023 Unaudited Audited CURRENT ASSETS: Cash and cash equivalents \$ 11,915 \$ 20,772 Short-term bank deposits 14,698 10,291 Trade receivables 539 357 Other receivables and prepaid expenses 3,154 2,973 Inventories 716 31,022 34,469 LONG-TERM ASSETS:
Long-term deposits and other receivables 26
Investment accounted for using the equity method 133
Right-of-use-assets 879 980
Property, plant and equipment, net 1,796 2,455
Intangible assets, net 12,924 13,169
15,758 16,632
\$ 46,780 \$ 51,101
CURRENT LIABILITIES:
Trade payables \$ 1,041 \$ 1,785
Employees and payroll accruals 2,432 2,537
Lease liability 715 853
Liabilities in respect of government grants 561 388
Deferred revenues and other advances 416 362
Other payables 964 1,019
6,129 6,944
LONG-TERM LIABILITIES:
Lease liability 286 285
Liabilities in respect of government grants 4,237 4,426
Deferred revenues and other advances 402 393
Convertible SAFE 10,343 10,368
15,268 15,472
SHAREHOLDERS' EQUITY:
Ordinary shares of NIS 0.02 par value:
Authorized − 150,000,000 ordinary shares; Issued and outstanding – 50,623,278 shares as of March 31, 2024 and 50,584,888 shares as of December 31, 2023 286 286
Share premium and other capital reserve 269,452 269,353
Accumulated deficit (261,449) (257,586)
Equity attributable to equity holders of the Company 8,289 12,053
Non-controlling interests 17,094 16,632
Total equity 25,383 28,685
\$ 46,780 \$ 51,101

CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS

U.S. dollars in thousands (except share and per share amounts)

	Three months ended March 31,			Year ended December 31,
	2024 2023		2023
	Unaudited		Audited
Revenues	\$ 4,190 \$	641	\$	5,640
Cost of revenues	310	322		1,692
Gross profit	3,880	319		3,948
Operating expenses:
Research and development, net	4,801	4,800		20,777
Sales and marketing	992	800		3,611
General and administrative	1,654	1,515		6,068
Other expenses	519	-		-
Total operating expenses, net	7,966	7,115		30,456
Operating loss	(4,086)	(6,796)		(26,508)
Financing income	407	308		1,486
Financing expenses	(166)	(538)		(965)
Financing income (expenses), net	241	(230)		521
Loss before taxes on income	(3,845)	(7,026)		(25,987)
Tax benefit	-	(45)		(33)
Loss	\$ (3,845) \$	(6,981)	\$	(25,954)
Attributable to:
Equity holders of the Company	(3,863)	(6,271)		(23,879)
Non-controlling interests	18	(710)		(2,075)
	\$ (3,845) \$	(6,981)	\$	(25,954)
Basic and diluted loss per share, attributable to equity holders of the Company	\$ (0.08) \$	(0.15)	\$	(0.52)
Weighted average number of shares used in computing basic and diluted loss per share	50,622,922	41,489,001		45,685,619

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

U.S. dollars in thousands
---------------------------	--

	Three months ended March 31,			Year ended December 31,
	2024 2023		2023
	Unaudited			Audited
Cash flows from operating activities:
Loss	\$ (3,845)	\$	(6,981)	\$	(25,954)
Adjustments to reconcile loss to net cash used in operating activities:
Adjustments to the profit or loss items:
Depreciation	426		401		1,641
Amortization of intangible assets	245		240		971
Share-based compensation	539		418		1,877
Revaluation of convertible SAFE	(25)		194		254
Net financing income	(194)		(54)		(666)
Loss (gain) from sale and impairment of property, plant
and equipment	519		(26)		(26)
Tax benefit	-		(45)		(33)
	1,510		1,128		4,018
Changes in asset and liability items:
Decrease (increase) in trade receivables	(182)		98		(9)
Increase in other receivables	(179)		(291)		(1,445)
Decrease (increase) in inventories	(640)		(25)		490
Decrease in deferred taxes	-		94		94
Increase (decrease) in trade payables	(685)		121		742
Increase (decrease) in employees and payroll accruals	(105)		55		550
Decrease in other payables	(61)		(553)		(534)
Increase (decrease) in deferred revenues and other advances	(71)		8		(288)
	(1,923)		(493)		(400)
Cash received (paid) during the year for:
Interest received	171		138		905
Interest paid	(23)		(36)		(115)
Taxes paid	-		-		(31)
Net cash used in operating activities	\$ (4,110)	\$	(6,244)	\$	(21,577)

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

Three months ended March 31, 2024 2023 Unaudited Year ended December 31, 2023 Audited Cash flows from investing activities: Purchase of property, plant and equipment Proceeds from sale of marketable securities Purchase of marketable securities Proceeds from sale of property, plant and equipment Investment in bank deposits, net \$ (141) - - 10 (4,231) \$ (359) 637 - 26 - \$ (785) 6,924 (503) 26 (10,200) Net cash provided by (used in) investing activities (4,362) 304 (4,538) Cash flows from financing activities: Issuance of a subsidiary preferred shares to non-controlling interests Proceeds from issuance of ordinary shares, net of issuance expenses Repayment of lease liability Proceeds from government grants Repayment of government grants - 3 (231) - (139) - 268 (206) 26 (35) 9,523 8,449 (836) 1,089 (73) Net cash provided by (used in) financing activities (367) 53 18,152 Exchange rate differences - cash and cash equivalent balances (18) (93) (245) Decrease in cash and cash equivalents (8,857) (5,980) (8,208) Cash and cash equivalents at the beginning of the period 20,772 28,980 28,980 Cash and cash equivalents at the end of the period \$ 11,915 \$ 23,000 \$ 20,772 Significant non-cash activities Acquisition of property, plant and equipment \$ 22 \$ 69 \$ 81 Investment in equity-accounted investee with corresponding deferred revenues 133 - - Increase of right-of-use asset recognized with corresponding lease liability \$ 130 \$ 71 \$ 194

Exhibit 99.2

FORWARD LOOKING STATEMENT

This presentation contains "forward-looking to fiture events, and Evogene Ltd. (the "Company"), may from time to time make other statements, regarding our outlook or expectations for financial or operating results and/or other matters regarding or affecting us that are considered "forward-looking statements" as defined in the U.S. Private Securities Litication Reform Act of 1995 (the "PSLRA") and other securities laws, as anended. Statements that are not statemay be deemed to be forward-looking statements. Such forward-looking statements may be identified by the use of such words as "believ", "anticipate", "should", "planned", "intend" and "potential" or words of similar meaning. We are using forward-looking statements in this presentation when we discuss our value drivers and tining, product development and launches, estimated market sizes and milestones, pipeline, as well as our capabilities and technology.

Such statements are based on current expections and assumptions, describe opinions about future events, involve certain risks and uncertainties which are difficult to predict of future performance. Readers are cautioned that certain important factors may affect the Company's actual results and could case such results to differ materially from any forward-hoking statements that may be made in this presentation. Therefore, actual future results, and trends in the future may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond our control, including, without linitation, the current war between Israel. Hamas and Hezbollah and any worsening of the situation or escalation in the northern border of Israel and those described in Evonene's Annual Report on Errm 20-F and in other information Evonene files and furnishes with the Israe Securities Authority and the U.S. Securities and Exchange Commission, including those factors under the heading "Risk Factors".

Except as required by applicable securities laws, we disdaim any obligation or conmitment to update in this presentation or to publicy release the results of any statements that may be made to reflect future events or developments or changes in expectations, estimates, projections and assumptions.

The information contained herein does not constitute a prospectus or other offering document, nor does it constitute or offer to sell, or any solicitation of any invitation or offer to pay securities of Evogene or the Company, nor shall the information or any part of it or the fact of its distribution form the basis of or be relied on in contract, commitment or relating thereto or to the securities of Evogene or the Company.

The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be onstrued as an endorsement of our products or services.

evogene

evogene -

CEO Update / By Ofer Haviv

• · Financial & Business Highlights
• · Evogene Overview
• · Subsidiaries' Achievements

3

CFO Update / By Yaron Eldad

Q&A

CEO Update

Financial and Business Highlights:

• In Q1 2024, total revenues reached approximately \$4.2 million compared to \$0.6 million in Q1 2023. In full year 2024, anticipated continued revenue growth compared to the previous year.
• In Q1 2024, loss was approximately \$3.8 million compared to \$7.0 million in Q1.2023.
• Projected cash usage for 2024, without Biomica and Lavie Bio, is approximately \$8 million compared to \$12.5 million in 2023, a notable 36% decrease year-over-year.
• · Evogene decided to cease Canonic's operations, resulting in annualized savings of \$1.5 million.
• · Evogene and Verb Biotics collaborate to advance probiotic innovation produce sustainable microbial metabolites for improved human health and vitality.
• · Evogene and The Kitchen FoodTech Hub established a new company 'Finally Foods' targeting to produce sustainable protein in plants, for the food sector. Evogene holds ~40% in Finally Foods. The new company is funded by the Kitchen Hub and the Israeli Innovation Authority.

evogene

CEO Update

Financial and Business Highlights:

• Casterra's recent agreements with African and Brazilian seed growers, securing an addition of 900 tons - expected to fulfill all outstanding orders by end of 2024.
• Biomica to present preliminary phase 1 clinical trial results for BMC128, at the 2024 ASCO conference, on June 3.
• Lavie Bio received \$2.5 million, the 2nd half of an upfront payment from Corteva; Announced a new collaboration agreement with Syngenta; Extended joint validation trials with Bayer for its bio fungicides, following successful testing.
• Marketing and sales for Yalos™, are expanding in US and Canada with additional crops being added for treatment. 2024 revenues anticipated to increase, compared to the previous year.
• AgPlenus announced a new collaboration agreement with Bayer entitled to an upfront payment, ongoing research funding, milestone payments, and royalties on future product sales.
• Achieved a milestone with Corteva in existing collaboration agreement.

evogene

evogene -

CEO Update / By Ofer Haviv

• · Financial & Business highlights
• · Evogene Overview
• · Subsidiaries' Achievements

6

CFO Update / By Yaron Eldad

Q&A

THE RESOURCE KILLER LIFE-SCIENCE PRODUCTS LONG-TAIL PROCESS

THE

finding the winning candidates out of a vast number of possible prospects that CHALLENGE

OUR DECODING BIOLOCY MISSION

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WE MERGE SCIENCE WITH BIG DATA AND CUTTING-EDGE AI TECHNOLOGIES TO EFFECTIVELY DISCOVER AND OPTIMIZE NOVEL LIFE-SCIENCE BASED PRODUCTS.

8

OUR SOLUTION

The CPB platform, born from over a decade of intensive research and development, fueled by millions of dollars in investment, directs and accelerates life-science product discovery and optimization through dedicated Al Tech-Engines.

CPB Computational Predictive Biology

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evogene -

WE DIRECT AND ACCELERATE LIFE-SCIENCE PRODUCT DISCOVERY & OPTIMIZATION

through 3 dedicated AI tech-engines

A WORLD OF OPPORTUNITIES FOR OUR AI TECH ENGINES

Capture the value of our Al tech-engines through diverse collaborative partnerships to accelerate life-science product development

Partnering with experts in specific fields complements our technology, enabling groundbreaking innovations and financial gains for Evogene.

evogene ----------------------------------------------------------------------------------------------------------------------------------------------------------------------

| LICENSING & COLLABORATION | current status

• · Ceased operations, following challenging market conditions in the medical cannabis sector.
• Estimated annualized savings ~\$1.5 million.

evogene -

• Collaboration agreement with Verb Biotics for probiotic products, aiming to identify and design bacteria that produce highly sustainable quantities of metabolites, for improved human health and vitality.
• Synergy of combining Evogene's knowledge in bacterialbased product development (MicroBoost A/), with Verb Biotics' genomes of various microbial strains.

ev@gene ______________________________________________________________________________________________________________________________________________________________________

• -Evogene and The Kitchen FoodTech Hub established 'Finally Foods', for sustainable protein production in plants for the food sector.
• Finally Foods will Leverage Evogene's GeneRator A/techengine.
• Pre-seed funding secured from The Kitchen Hub and the Israeli Innovation Authority.
• Evogene holds approximately 40% in the company

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evogene -

evogene -

CEO Update / By Ofer Haviv · Financial & Business Highlights · Evogene Overview · Subsidiaries' Achievements CFO Update / By Yaron Eldad Q&A

casteria

Casterra, Evogene's fully owned subsidiary, focuses on developing an integrated solution for large-scale castor bean cultivation, utilizing GeneRator Al tech-engine.

• New agreements with seed growers in Africa and Brazil - boost castor seed production by approximately 900 tons in 2024.
• Expected completion of existing seed orders and restocking for future orders.

ev@gene ----------------------------------------------------------------------------------------------------------------------------------------------------------------------

AgPlenus, a global leader in computational design and development of novel sustainable crop protection products, utilizing ChemPass Al tech-engine

• Licensing & collaboration agreement with Bayer to develop herbicides targeting APTH1 protein; Entitled to an upfront payment, ongoing research funding, milestone payments, and royalties on future product sales.
• Achieved a milestone in the collaboration with Corteva to develop new herbicides through a novel mode of action, APCO12.

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Lavie Bio, a global leader in developing next generation ag-biological products, leveraging MicroBoost Al tech-engine

• Agreement with Syngenta for discovery and development of new biological insecticidal solutions.
• Meeting Corteva's licensing requirements, securing second-half advanced payment of \$2.5 million.
• Extending joint validation trials with Bayer for biofungicides, following successful testing.
• Partnering with Ceres Global Ag Corp. to integrate Lavie Bio's bio-inoculant Yalos™ into regenerative agriculture programs in North America.

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BIOMICA

Biomica specializes in developing microbiomebased therapeutics for human health, utilizing Evogene's MicroBoost Al tech-engine

• Completing Phase I trial enrollment for microbiomebased immuno-oncology drug, BMC128.
• Preliminary Phase 1 study data of BMC128 to be presented at ASCO 2024 Annual Conference in June.
• Pre-clinical study results in IBS program, with NYU, presented at Digestive Disease Week 2024 Annual Conference in May.

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evogene -

CEO Update / By Ofer Haviv · Financial & Business Highlights · Evogene Overview · Subsidiaries' Achievements - CFO Update / By Yaron Eldad

23

Q&A

CFO UPDATE

	As of March 31. 2024		As of December 31. 2023
	Unaudited		Audited
CURRENT ASSETS:
Cash and cash equivalents	5	11.915	S	20,772
Short-term bank deposits		14.698		10,291
Trade receivables		ਵੇ ਤੇ ਹੋ		357
Other receivables and prepaid expenses		3.154		2,973
Inventories		716		76
		31.022		34.469
LONG-TERM ASSETS:
Long-term deposits and other receivables		26		28
Investment accounted for using the equity method		133
Right-of-use-assets		879		980
Property, plant and equipment, net		1,796		2,455
Intangible assets, net		12.924		13.169
		15.758		16.632
	S	46.780	S	51.101

	As of March 31, 2024	As of December 31. 2023
	Unaudited	Audited
CURRENT LIABILITIES:
Trade payables	S 1.041	S 1.785
Employees and payroll accruals	2.432	2.537
Lease liability	715	853
Liabilities in respect of government grants	561	388
Deferred revenues and other advances	416	362
Other payables	964	1,019
	6.129	6,944
LONG-TERM LIABILITIES.
Lease liability	286	285
Liabilities in respect of government grants	4.237	4.426
Deferred revenues and other advances	402	393
Convertible SAFE	10.343	10.368
	15.268	15.472
SHAREHOLDERS' EQUITY:
Equity attributable to equity holders of the Company	8.289	12,053
Non-controlling interests	17.094	16.632
Total equity	25,383	28 685
	S 46.780	S 51.101

CFO UPDATE

Evogene Financial Performance Q1 2024

	Three months ended March 31.		Year ended December 31,
	2024	2023	2023
	Unaudited		Audited
Revenues	S 4,190	S 641	S 5.640
Cost of revenues	310	322	1,692
Gross profit	3,880	319	3,948
Operating expenses:
Research and development, net	4,801	4.800	20,777
Sales and marketing	992	800	3,611
General and administrative	1,654	1.515	6.068
Other expenses	519
Total operating expenses, net	7.966	7.115	30,456
Operating loss	(4,086)	(6,796)	(26,508)
Financing income	407	308	1,486
Financing expenses	(166)	(538)	(965)
Financing income (expenses), net	241	(230)	521
Loss before taxes on income	(3.845)	(7.026)	(25,987)
Tax benefit		(42)	(33)
Loss	లు (3,845)	S (6,981)	S (25,954)

evogene -

CEO Update / By Ofer Haviv

• · Financial & Business Highlights
• · Evogene Overview

Q&A

• · Subsidiaries' Achievements
• CFO Update / By Yaron Eldad