Evogene Ltd. — Earnings Release 2024

Aug 22, 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 August 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 August 22, 2024, Evogene Ltd. ("Evogene") announced its financial results for the second quarter ended June 30, 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 August 22, 2024 to discuss its quarterly results for the quarter ended June 30, 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333-259215) of Evogene, and will be a part thereof from the date on which this Form 6-K is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.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: August 22, 2024

By: /s/ Yaron Eldad Yaron Eldad Chief Financial Officer

EXHIBIT INDEX

EX HIB IT N O.	DE SCR IPT ION
99. 1	Pre ss R ele : Ev Rep Se d Q 202 4 F ina nci al R lts. orts ter ase oge ne con uar esu
99.2	Slid atio n fo nfe all of E he ld o n A st 2 2 2 024 dis sin g E 's q terl fin ial ults for the ond r of 20 24. ent arte e p res r co ren ce c vog ene ugu cus vog ene uar y anc res sec qu

Evogene Reports Second Quarter 2024 Financial Results

Conference call and webcast: today, August 22, 2024, 9:00 am ET

Financial and Business Highlights:

• H1 2024 revenues \$5.1M, up from \$1.3M in H1 2023; Q2 2024 revenues \$914K, up from \$654K in Q2 2023.
• Anticipated continued revenue growth in the second half of 2024 compared to the same period in the previous year, primarily driven by Casterra's initiation of supplying existing seed orders, which began in August 2024 and total over \$8.0 million.
• H1 2024 loss \$9.8M, down from \$14.8M in H1 2023; Q2 2024 loss \$6.0M, down from \$7.8M in Q2 2023.
• Projected 2024 cash usage (excl. Biomica & Lavie Bio) \$8.0M, down 36% from \$12.5M in 2023.
• Implemented a 10:1 reverse stock split during July 2024.

Casterra:

• Received a \$440K order for castor seeds from an existing customer for a new African country.
• Completed a successful castor seed season in Brazil, with shipments planned for Q3 2024.
• Seeds produced in Brazil and Africa in 2024, are anticipated to meet existing orders totaling approximately \$8.4M.

Biomica:

• Promising Phase 1 results for BMC128 with nivolumab in RCC, NSCLC, and melanoma, presented at ASCO 2024.

Lavie Bio:

• A significant milestone achieved in ICL collaboration, developing yield-increasing bio-stimulants for row crops under extreme weather conditions by leveraging AI to identify over a dozen novel microbial candidates.

• Announced commercial expansion of Yalos™ bio-inoculant to winter wheat.

Rehovot, Israel – August 22, 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 second quarter period ended June 30, 2024.

Mr. Ofer Haviv, Evogene's President and CEO, stated: "In our vision, we see Evogene as a pioneering company for creating groundbreaking life-science products, to improve life quality and longevity. During the past years we developed three innovative AI tech-engines addressing the main development challenges of products rooted in microbes, small molecules and genomics. 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 aiming to reduce financial and development risks. Today, Evogene has 4 subsidiaries, each focusing on a different market segment, and in addition, Evogene has 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's subsidiaries from the last report of our financial results."

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 Evogene's GeneRator AI tech engine to direct and accelerate the development of its unique elite castor seed varieties.

• -On June 25, Casterra announced receiving a \$440K purchase order to supply castor seeds to a new African country in 2024. This order from an existing customer expands Casterra's operations and strengthens its position in the bio-fuel market.
• -On July 31, Casterra announced the successful completion of its castor seed growing and harvesting season in Brazil, with shipments planned for the third quarter of 2024. Additionally, the castor harvest season in Africa has begun as scheduled.

-Castor seeds produced in 2024 in both Brazilian and African territories are expected to enable Casterra to meet all its existing orders, amounting to approximately \$8.4M, with completion anticipated by the end of this year.

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.

• -On July 2, Lavie Bio announced the commercial expansion of its bio-inoculant Yalos™ to winter wheat following successful trials, with sales starting across the US for the 2024-2025 season, effectively doubling its market potential.
• -On July 22, 2024, Lavie Bio announced a milestone in its collaboration with ICL in developing bio-stimulant solutions for row crops facing extreme weather conditions by leveraging AI to identify over a dozen novel microbes within 12 months.

-Lavie Bio's pipeline is advancing according to plan, with field trials initiated in Q2 in most of the company's programs, following successful optimization processes. Results are expected during Q4.

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

• -On May 23, positive safety and tolerability data for BMC128 was published. 72% of the patients treated have exhibited clinical benefits. 55% of patients showed sustained clinical benefit, with notable durations of effect (more than 24 months).
• -These clinical results were presented at the prestigious 2024 ASCO annual conference in June.

-We look forward to continuing to evaluate BMC128's beneficial activity in subsequent phases of clinical development.

Financial Highlights:

Cash Position: As of June 30, 2024, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately \$20.9 million. This amount does not include \$8.4 million of expected payments for the open purchase orders of Casterra . The consolidated cash usage during the second quarter of 2024 was approximately \$5.7 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately \$2.7 million in cash during the second quarter of 2024. 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 half of 2024 were approximately \$5.1 million, a significant increase from \$1.3 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. Revenues for the second quarter of 2024 were approximately \$0.9 million, compared to approximately \$0.7 million in the same period the previous year. The increase was mainly attributable to increased revenue in Lavie Bio.

Evogene anticipates continued revenue growth in the second half of 2024 compared to the previous year, mainly based on Casterra's forecast for seed-order supply.

R&D Expenses: Research and development expenses, net of non-refundable grants, for the first half of 2024 were approximately \$8.8 million, a decrease from \$10.2 million in the first half of 2023. The decrease in expenses is mainly due to the cease of Canonic's activities and a decrease in certain development expenses in Biomica as compared to the same period the previous year. Research and development expenses, net of non-refundable grants, for the second quarter of 2024 were approximately \$4.0 million, and decreased significantly as compared to approximately \$5.4 million in the same period in the previous year. The decrease is mainly attributable to decreased expenses in Canonic and Biomica, as mentioned above.

Sales and Marketing Expenses: Sales and Marketing expenses for the first half of 2024 were approximately \$1.9 million, a slight increase from approximately \$1.7 million in the same period in the previous year. The increase is mainly attributable to increased sales and marketing activities in Casterra during the first half of 2024 as compared to the same period in 2023. Sales and Marketing expenses for the second quarter of 2024 were approximately \$0.9 million and remained stable as compared to approximately \$0.9 million in the same period in the previous year.

General and Administrative Expenses: General and administrative expenses for the first half of 2024 decreased slightly to approximately \$3.2 million from approximately \$3.3 million in the same period last year. General and administrative expenses for the second quarter of 2024 decreased to approximately \$1.5 million compared to approximately \$1.8 million in the same period of the previous year, mainly due to decreased non-cash compensation and salary related expenses in Lavie Bio and Biomica, respectively, in the second quarter of 2024.

Other Expenses: The decision to cease Canonic's operations in the first half of 2024 resulted in other expenses of approximately \$0.5 million, mainly due to impairment of fixed assets in the first quarter of 2024.

Operating Loss: The operating loss for the first half of 2024 was approximately \$10.2 million, a significant decrease from approximately \$14.7 million in the same period of the previous year, mainly due to increased revenues as mentioned above. The operating loss for the second quarter of 2024 was approximately \$6.1 million, a decrease from \$7.9 million in the same period of the previous year, mainly due to decreased operating expenses as mentioned above.

Financing Income: Financing income, net for the first half of 2024 was \$379 thousand, compared to financing expenses, net of \$86 thousand in the same period of the previous year. This increase was primarily due to increased interest income and a revaluation of convertible SAFE. Financing income, net for the second quarter of 2024 was \$138 thousand, compared to financing income, net of \$144 thousand in the same period of the previous year.

Net Loss: The net loss for the first half of 2024 was approximately \$9.8 million, compared to approximately \$14.8 million in the same period last year. The \$5.0 million decrease in net loss was primarily due to increased revenues, decreased operating expenses, partially offset by the one-time \$0.5 million of other expenses, related to ceasing Canonic's operations and an increase in financial income. The net loss for the second quarter of 2024 was approximately \$6.0 million, compared to approximately \$7.8 million in the same period last year. The \$1.8 million decrease in net loss was primarily due to decreased operating expenses as mentioned above.

****************************************************************************************************

For the financial tables click here. *** Conference Call & Webcast Details: Thursday, August 22, 2024. 9:00 AM EST 4:00 PM IDT To join the Zoom conference, please register in advance here

Or join via audio Or, dial from the US: +15642172000, from Israel: +972 3 978 6688 Webinar ID: 842 8320 2980 More International numbers

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, Evogene's ability to develop novel products, that Evogene's strategy will result groundbreaking innovations and significant financial gains for Evogene, Casterra's ability to supply all existing purchase orders by the end of 2024, Lavie Bio's market potential, Lavie Bio's pipeline advancement, Biomica's BMC128's future beneficial activity, and Evgoene's projected cash usage for 2024 and Evogene anticipatedcontinued revenue growth in the second half of 2024. 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 InvestorsRelations Contact:

Email: ir@evogene.com Tel: +972-8-9311901

CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

U.S. dollars in thousands

	e 3 0, Jun 202 4	31 De ber cem , 202 3
	Un aud ited	Au dite d
CU RR EN T A SSE TS :
sh a nd h e iva len Ca ts cas qu	\$ 9,4 84	\$ 20,7 72
Sho ba nk dep osi rt-t ts erm	11,4 24	10,2 91
Tra de eiv abl rec es	376	357
Oth iva ble d p aid er r ece s an rep ex pen ses	3,69 6	2,97 3
Inv ori ent es	794	76
	25,7 74	34,4 69
LO NG AS SE TS -TE RM :
Lon dep osi nd oth iva ble g-te ts a rm er r ece s	30	28
Inv ed for ing the uity tho d est nt a unt me cco us eq me	100	-
Rig ht-o f-u ets se- ass	729	980
Pro lan d e ipm ty, t an ent t per p qu , ne	1,65 0	2,45 5
Int ible set et ang as s, n	12,6 85	13,1 69
	15,1 94	16,6 32
	\$ 40, 968	\$ 51, 101
CU RR EN T L IAB ILI TIE S:
de abl Tra pay es	\$ 957	\$ 1,78 5
loy d p oll ls Em p ees an ayr acc rua	2,3 33	2,5 37
Lea se l iab ility	558	853
Lia bili ties in t of ent nts res pec go ver nm gra	681	388
De fer red nd oth dva rev enu es a er a nce s	548	362
Oth ble er p aya s	816	1,01 9
	5,89 3	6,94 4
LO NG AB S: -TE RM LI ILI TIE
Lea se l iab ility	252	285
Lia bili ties in t of ent nts res pec go ver nm gra	4,24 7	4,4 26
De fer red nd oth dva rev enu es a er a nce s	244	393
Con tibl e S AF E ver	10,3 92	10,3 68
	15,1 35	15,4 72
SH OL RS ' EQ AR EH DE UIT Y:
Ord ina har f N IS 0 .2 p alu ry s es o ar v e: Au tho rize d − 15 ,00 0,0 00 ord ina har Issu ed and ndi − 5 ,09 6,7 60 sha f Ju 30, 20 24, d 5 ,07 9,3 13 (*) sha f D mb er 3 1, 2 023 tsta es; ou res as o ne an res as o ece	287	286
ry s ng Sha ium d o the ital re p rem an r ca p res erv e	269 ,648	269 ,353
Ac ula ted de fici t cum	(26 6,86 8)	(25 7,5 86)
ity ibu tab le t ity hol der s of the Co Equ attr o e qu mp any	3,06 7	12,0 53
rol ling int No ont sts n-c ere	16,8 73	16,6 32
T l eq uity ota	19,9 40	28, 685
	\$ 40, 968	\$ 51, 101

(*) Shares and per share amounts have been retroactively adjusted to reflect the reverse stock split

CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS

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

	Six nth ded mo s en e 3 0, Jun		Th ree mo Jun	Yea ded r en 31 De ber cem ,
	202 4	202 3	202 4	202 3	202 3
		Un	aud ited		Au dite d
Re ven ues	\$ 5,10 4	\$ 1,29 5	\$ 914	\$ 654	\$ 5,64 0
Co f re st o ven ues	847	783	537	461	1,69 2
Gro rof it ss p	4,2 57	512	377	193	3,94 8
Op ting era ex pen ses :
Re rch d d lop nt, net sea an eve me	8,8 17	10,1 69	4,0 16	5,3 69	20,7 77
Sal nd rke ting es a ma	1,92 0	1,72 8	928	928	3,6 11
Gen l an d a dm inis ive trat era	3,1 84	3,3 12	1,53 0	1,79 7	6,06 8
Oth er e xpe nse s	524	-	5	-	-
Tot al o atin et per g e xpe nse s, n	14,4 45	15,2 09	6,47 9	8,09 4	30,4 56
Op ting los era s	(10 ,188 )	(14 ,697 )	(6,1 02)	(7,9 01)	(26 ,508 )
Fin ing inc anc om e	667	699	260	391	1,48 6
Fin ing anc ex pen ses	(28 8)	(78 5)	(12 2)	(24 7)	(96 5)
Fin ing inc e (e s), net anc om xpe nse	379	(86 )	138	144	521
Sha f lo ss f uity d in nte tme nt re o rom eq ac cou ves	(20 )	-	(20 )	-	-
Lo ss b efo inc re t axe s on om e	(9,8 29)	(14 ,783 )	(5,9 84)	(7,7 57)	(25 ,987 )
Tax n in e (t ax b fit) es o com ene	1	(24 )	1	21	(33 )
Lo ss	\$ (9,8 30)	\$ (14 ,759 )	\$ (5,9 85)	\$ (7,7 78)	\$ (25 ,954 )
Att ribu tab le t o:
Equ ity hol der s of the Co mp any	\$ (9,2 82)	\$ (13 ,294 )	\$ (5,4 19)	\$ (7,0 23)	\$ (23 ,879 )
No rol ling int ont sts n-c ere	(54 8)	(1,4 65)	(56 6)	(75 5)	(2,0 75)
	\$ (9,8 30)	\$ (14 ,759 )	\$ (5,9 85)	\$ (7,7 78)	\$ (25 ,954 )
Ba sic and dil d lo har ttri but abl uity ho lde f th e C y (* ) ute e to ss p er s e, a eq rs o om pan	\$ (1.8 2)	\$ (3.1 8)	\$ (1.0 6)	\$ (1.6 8)	\$ (5.2 0)
ig hte d a mb f sh sed in ing ba sic and dil d lo har e (* ) We put ute ver age nu er o are s u com ss p er s	5,0 87,0 29	4,1 554 77,	5,09 0,9 93	4,1 85,2 42	4,5 89,3 86

(*) Shares and per share amounts have been retroactively adjusted to reflect the reverse stock split

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

	Six nth ded mo s en e 3 0, Jun		Th ree mo Jun	Yea ded De ber r en cem 31,
	202 4	202 3	202 4	202 3	202 3
		Un	aud ited		Au dite d
Cas h fl s fr ting ivit ies act ow om op era
Lo ss	\$ (9,8 30)	\$ (14 ,759 )	\$ (5,9 85)	\$ (7,7 78)	\$ (25 ,954 )
Ad jus ile los sh u sed in rati ivit ies tme nts to s to t ca act rec onc ne ope ng :
Ad jus the fit or l ite tme nts to pro oss ms :
De cia tion pre	800	807	374	406	1,64 1
Am orti ion of inta ible zat ets ng ass	484	481	239	241	971
Sha re-b d c sati ase om pen on	999	1,21 9	460	801	1,87 7
Rev alu atio f co rtib le S AF E n o nve	24	220	49	26	254
Ne t fin ing (in e) anc ex pen ses com	(22 2)	6	(28 )	60	(66 6)
ss ( in) fro ale of lan d e ipm Lo ty, t an ent ga m s pro per p qu	524	(26 )	5	-	(26 )
Sha f lo ss f uity d in nte tme nt re o rom eq ac cou ves	20	-	20	-	-
n in ax b fit) Tax e (t es o com ene	1	(24 )	1	21	(33 )
	2,6 30	2,6 83	1,12 0	1,55 5	4,0 18
Ch es i d li abi lity ite t an ang n a sse ms :
De (in ) in de eiv abl tra cre ase cre ase rec es	(19 )	170	163	72	(9)
De (in ) in oth iva ble cre ase cre ase er r ece s	(72 5)	84	(54 6)	375	(1,4 45)
(in ) in inv orie De ent cre ase cre ase s	(71 8)	317	(78 )	342	490
in def d ta De cre ase erre xes	-	-	-	-	94
dec in trad ble Inc se ( se) rea rea e p aya s	(76 2)	26	(77 )	(95 )	742
Inc se ( dec se) in e loy d p oll ls rea rea mp ees an ayr acc rua	(20 4)	172	(99 )	117	550
Inc se ( dec se) in oth ble rea rea er p aya s	(21 4)	(16 2)	(15 3)	297	(53 4)
Inc se ( dec se) in def ed nd oth dva rea rea err rev enu es a er a nce s	(84 )	(73 )	(13 )	(81 )	(28 8)
	(2,7 26)	534	(80 3)	1,02 7	(40 0)
h re cei ved id) dur ing the rio d fo Cas (pa pe r:
ive d Int st r ere ece	402	283	231	145	905
Int aid st p ere	(41 )	(66 )	(18 )	(30 )	(11 5)
Tax aid es p	-	(10 )	-	(10 )	(31 )
Ne sh u sed in rati ivit ies t ca act ope ng	\$ (9,5 65)	\$ (11 ,335 )	\$ (5,4 55)	\$ (5,0 91)	\$ (21 ,577 )
	10

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

	Six nth ded mo s en Jun e 3 0,				Th nth ded ree mo s en Jun e 3 0,				Yea ded r en De ber 31 cem ,
		202 4		202 3		202 4		202 3		202 3
				Un aud	ited					Au dite d
Cas h fl s fr inv esti ivit ies act ow om ng :
cha f pr lan d e ipm Pur rty t an ent se o ope , p qu	\$	(17 2)		(48 3)		(31 )		(12 4)	\$	(78 5)
ds f sal f m ark ble urit ies Pro eta cee rom e o sec		-		6,92 4		-		6,2 87		6,92 4
cha f m ark ble urit ies Pur eta se o sec		-		(50 3)		-		(50 3)		(50 3)
Pro ds f sal f pr lan d e ipm rty t an ent cee rom e o ope , p qu		10		26		-		-		26
Wi thd al f (in nt i n) b ank de its, tme t raw rom ves pos ne		(99 0)		(13 ,560 )		3,24 1		(13 ,560 )		(10 ,200 )
Ne sh p ide d b y (u sed in) inv esti ivit ies t ca act rov ng	\$	(1,1 52)	\$	(7,5 96)	\$	3,2 10	\$	(7,9 00)	\$	(4,5 38)
Cas h fl s fr fin ing ivit ies act ow om anc :
Iss of a bsi dia ref ed sha olli inte to ntr ts uan ce su ry p err res non -co ng res		-		9,52 3		-		9,52 3		9,52 3
ds f iss of o rdi har of issu Pro net cee rom uan ce nar y s es, anc e ex pen ses		86		336		83		68		8,44 9
of lea se l iab ility Rep ent aym		(46 2)		(41 3)		(23 1)		(20 7)		(83 6)
Pro ds f ent nts cee rom go ver nm gra		-		1,08 9		-		1,06 3		1,08 9
Rep of ent nt g ts aym gov ern me ran		(14 2)		(35 )		(3)		-		(73 )
Ne sh p ide d b y (u sed in) fin ing tivi ties t ca rov anc ac		(51 8)		10,5 00		(15 1)		10,4 47		18,1 52
Exc han dif fere ash d c ash uiv ale nt b ala rate ge nce s - c an eq nce s		(53 )		(31 6)		(35 )		(22 3)		(24 5)
in h a nd h e iva len De ts cre ase cas cas qu		(11 ,288 )		(8,7 47)		(2,4 31)		(2,7 67)		(8,2 08)
Ca sh a nd h e iva len beg inn ing of the rio d ts, cas qu pe		20,7 72		28,9 80		11,9 15		23,0 00		28,9 80
Ca sh a nd h e iva len end of the rio d ts, cas qu pe	\$	9,4 84	\$	20,2 33	\$	9,4 84	\$	20,2 33	\$	20,7 72
Sig nifi ash tivi ties t no can n-c ac
Ac isit ion of lan d e ipm ty, t an ent qu pro per p qu	\$	15	\$	90	\$	15	\$	21	\$	81
Inv in ity- ted inv ith din def ed estm ent est equ acc oun ee w cor res pon g err rev enu es	\$	120	\$	-	\$	-	\$	-	\$	-
f ri ht-o f-u niz ed wit h c ond ing lea se l iab ilit Inc t re rea se o g se a sse cog orr esp y	\$	184	\$	135	\$	54	\$	64	\$	194
		11

Q2 2024 EARNINGS CALL

OFER HAVIV | PRESIDENT & CEO

August 22, 2024

FORWARD LOOKING STATEMENT

This presentation contains "forward-looking statements" relating to future events, and Evogene Ltd. (the "Company"), may from time to time make other statements, regarding our outlook or expectations for future 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 Litigation Reform Act of 1995 (the "PSLRA") and other securities laws, as amended. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking statements may be identified by the use of such words as "believe", "expect", "anticipate", "should", "planned", "estimated", "intend" and "potential" or words of similar meaning. We are using forward-looking statements in this presentation when we discuss our value drivers, commercialization efforts and timing, product development and launches, estimated market sizes and milestones, pipeline, as well as our capabilities and technology.

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. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this presentation. Therefore, actual future results, performance or achievements, 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 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, those described in greater detail in Evogene's Annual Report on Form 20-F and in other information Evogene files and furnishes with the Israel 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 disclaim any obligation or commitment to update any information contained in this presentation or to publicly release the results of any revisions to 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 form part of any invitation or offer to sell, or any solicitation of any invitation or offer to purchase or subscribe for, any 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 connection with, any action, 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 construed as an endorsement of our products or services.

Earnings Call Q2 2024 AGENDA

CEO Update / By Ofer Haviv

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

CFO Update / By Yaron Eldad Q&A Casterra Update / By Yoash Zohar

Q2 Financial highlights:

• In the first 6-month of 2024, total revenues reached approximately \$5.1 million compared to \$1.3 million in the first 6-month 2023.
• In full year 2024, anticipated continued revenue growth compared to the previous year, mainly upon Casterra's starting of supply of existing seed orders, totaling over \$8 million, initiated in Aug. 2024.
• In Q2 of 2024, total revenues reached approximately \$914 thousand compared to \$654 thousand in Q2 2023.
• In the first 6-month of 2024, loss was approximately \$9.8 million compared to \$14.8 million in the first 6-month of 2023.
• In Q2 2024, loss was approximately \$6.0 million compared to \$7.8 million in Q2 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.
• We recently undertook a reverse split of our shares in a ratio of 10 to 1.

Q2 Business Highlights:

Casterra

• Received an additional \$440K purchase order to supply castor seeds to a new African country
• Successfully completed its castor seed growing and harvesting season in Brazil with shipments planned for Q3 2024.
• The company anticipates that the seeds produced in Brazil and Africa will meet all existing orders totaling approximately \$8.4M.

Biomica

• Promising preliminary Phase 1 results for its microbiome-based therapeutic, BMC128, combined with nivolumab in treating refractory NSCLC, melanoma, and RCC.
• The preliminary clinical results were presented at the prestigious 2024 ASCO annual conference.

Lavie Bio

▪ ICL and Lavie Bio achieved a significant milestone in their collaboration, developing yield-increasing biostimulants for row crops under extreme weather conditions by leveraging AI to identify over a dozen novel microbial candidates.

Earnings Call Q2 2024 AGENDA

CEO Update / By Ofer Haviv

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

CFO Update / By Yaron Eldad Q&A Casterra Update / By Yoash Zohar

DECODING BIOLOGY

OUR VISION

PIONEER GROUNDBREAKING LIFE-SCIENCE PRODUCTS ROOTED IN MICROBES, SMALL MOLECULES, AND GENOMICS

DISCOVERY & OPTIMIZATION WE DIRECT AND ACCELERATE LIFE-SCIENCE PRODUCT

through 3 dedicated AI tech-engines

The Result:

Promising candidates addressing multiple development challenges towards successful life-science-based products.

A WORLD OF OPPORTUNITIES FOR OUR AI TECH ENGINES

MICROBES SMALL MOLECULES GENETIC ELEMENTS

BUSINESS STRATEGY

Capture the value of our AI 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.

LICENSING & COLLABORATION | CURRENT STATUS

Group

COMMERCIAL & FINANCIAL PARTNERS

Earnings Call Q2 2024 AGENDA

CEO Update / By Ofer Haviv

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

CFO Update / By Yaron Eldad Q&A Casterra Update / By Yoash Zohar

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

• June 25 Received an additional \$440K purchase order to supply castor seeds to a new African country.
• July 31 Successfully completed its castor seed growing and harvesting season in Brazil with shipments planned to be initiated starting Q3 2024.

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

• July 2 Lavie Bio announced the commercial expansion of its bio-inoculant product, Yalos , to winter wheat following successful trials, with sales commencing across the US for the 2024-2025 season.
• July 17 ICL and Lavie Bio announced a significant milestone in developing bio-stimulant solutions for row crops facing extreme weather conditions by leveraging AI to identify over a dozen novel microbes within 12 months using Lavie Bio's proprietary Biology Driven Design technology platform.

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

• May 23 Exceptional safety and tolerability data for BMC128 was published. 72% of the patients treated have exhibited clinical benefits. 55% of patients showed sustained clinical benefit, with notable durations of effect (more that 24 months).
• These clinical results were presented at the prestigious 2024 ASCO annual conference in June.
• Pre-clinical results of IBS presented at the prestigious DDW conference in May.

Earnings Call Q2 2024 AGENDA

CEO Update / By Ofer Haviv

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

CFO Update / By Yaron Eldad Q&A Casterra Update / By Yoash Zohar

OUR

MISSION

To provide an integrated ag-solution based on elite seed varieties for industrial scale cultivation of castor for the biobased industries.

Position Casterra as a major provider of sustainable plant oil as feedstock for the global biobased industries with emphasis on biofuel.

***https://finance.yahoo.com/news/global-castor-oil-market-reach-081300045.html?

• Most of the global castor supply is from India where castor is grown in traditional methods and the harvesting is done manually.

• This cannot support the increased demand for castor oil

• Family size farms

• Tall shrub
• hand-picked

• Traditional cultivation
• Low yield (0.6 MT/Ha.)
• Perennial plant

Casterra has established a unique integrated ag-solution, which includes proprietary castor seed varieties, supported by agro-technical know-how and novel mechanized harvesting & dehulling, addressing the global demand for increased and stable castor oil supply.

In a Nutshell

CASTOR OIL - EMERGING MARKET

A sustainable energy source, reducing the use of fossil fuels.

The global castor oil market is forecasted to reach US\$1.68 billion in 2028, experiencing growth at a CAGR of 4.29%*

UNIQUE TECH PLATFORM FOR ELITE VARIETIES

Combining deep scientific know-how, genomic and phenotypic big-data, with computational technology for elite castor variety development

INTEGRATED

Elite varieties suitable for mechanized farming, growing protocols, mechanized harvesting and dehulling solutions

STRATEGIC ALLIANCE

A strategic alliance in the biofuel space with ENI – a leading global oil & gas company

AG-SOLUTION COMMERCIAL PRODUCTS

Proprietary varieties with improved traits suitable for commercial scale cultivation

EVF716, EVF712, EVF701

*https://finance.yahoo.com/news/global-castor-oil-market-reach-081300045.html? https://www.marketreportsworld.com/global-castor-oil-and-derivatives-market-19862171

2023 Seed Orders

\$9.1 Million

\$2.2 Million

2024 Seed Order & Production Expansion

~\$440K Production of approximately 500 tons

Seed Production Operation, Aug. 2024

Casterra completed a successful castor seed harvest in Brazil with shipments planned for Q3 2024 and began the harvest in Africa; Expecting to meet \$8.4M in orders received in 2023 & 2024

Over 130 tons of our high-quality castor seeds ready for shipment from one of our seed growers in Brazil, supporting our customers mainly in Africa

Potential Next Stage

Exploring economic implications of expanding to castor oil production

Potential partnership:

• Casterra grain production
• Established oil producer

Earnings Call Q2 2024 AGENDA

CEO Update / By Ofer Haviv

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

CFO Update / By Yaron Eldad Q&A Casterra Update / By Yoash Zohar

CFO UPDATE

	June 30, 2024	December 31, 2023
	Unaudited	Audited
CURRENT ASSETS:
Cash and cash equivalents	\$ 9,484	\$ 20,772
Short-term bank deposits	11,424	10,291
Trade receivables	376	357
Other receivables and prepaid expenses	3,696	2,973
Inventories	794	76
LONG-TERM ASSETS:	25,774	34,469
Long-term deposits and other receivables	30	28
Investment accounted for using the equity method	100	-
Right-of-use-assets	729	980
ה Property, plant and equipment, net	1,650	2,455
Intangible assets, net	12,685	13,169
	15,194	16,632
	\$ 40,968	\$ 51,101
CURRENT LIABILITIES:
Trade payables	\$ 957	\$ 1,785
Employees and payroll accruals	2,333	2,537
Lease liability	558	853
Liabilities in respect of government grants	681	388
Deferred revenues and other advances	548	362
Other payables	816	1,019
	5,893	6,944
LONG-TERM LIABILITIES:
Lease liability	252	285
Liabilities in respect of government grants	4,247	4,426
Deferred revenues and other advances	244	393
Convertible SAFE	10,392	10,368
	15,135	15,472
SHAREHOLDERS' EQUITY: Ordinary shares of NIS 0.2 par value: Authorized − 15,000,000 ordinary shares; Issued and outstanding − 5,096,760 shares as of June 30, 2024, and 5,079,313 shares as of December 31, 2023	287	286
Share premium and other capital reserve	269,648	269,353
Accumulated deficit	(266,868)	(257,586)
Equity attributable to equity holders of the Company	3,067	12,053
Non-controlling interests	16,873	16,632
Total equity	19,940	28,685
	\$ 40,968	\$ 51,101
(*) Shares and per share amounts have been retroactively adjusted to reflect the reverse stock split

ה

CFO UPDATE

Evogene Financial Performance Q2 2024

	Six months ended June 30,		Three months ended June 30,		Year ended December 31,
	2024	2023	2024	2023	2023
		Unaudited			Audited
Revenues Cost of revenues	\$ 5,104 847	\$ 1,295 783	\$ 914 537	\$ 654 461	\$ 5,640 1,692
Gross profit	4,257	512	377	193	3,948
Operating expenses:
Research and development, net Sales and marketing General and administrative Other expenses	8,817 1,920 3,184 524	10,169 1,728 3,312 -	4,016 928 1,530 5	5,369 928 1,797 -	20,777 3,611 6,068 -
Total operating expenses, net	14,445	15,209	6,479	8,094	30,456
Operating loss	(10,188)	(14,697)	(6,102)	)7,901(	(26,508)
Financing income Financing expenses	667 (288)	699 (785)	260 (122)	391 (247)	1,486 (965)
Financing income (expenses), net	379	(86)	138	144	521
Share of loss from equity accounted investment	(20)	-	(20)	-	-
Loss before taxes on income Taxes on income (tax benefit)	(9,829) 1	(14,783) (24)	(5,984) 1	)7,757( 21	(25,987) (33)
Loss	\$ (9,830)	\$ (14,759)	\$ (5,985)	\$ )7,778(	\$ (25,954)
Attributable to: Equity holders of the Company Non-controlling interests	\$ (9,282) (548) \$ (9,830)	\$ (13,294) (1,465) \$ (14,759)	\$ (5,419) (566) \$ (5,985)	\$ )7,023( )755( \$ )7,778(	\$ (23,879) (2,075) \$ (25,954)
Basic and diluted loss per share, attributable to equity holders of the Company	\$ (1.82)	\$ (3.18)	\$ (1.06)	\$ )1.68(	\$ (5.20)
Weighted average number of shares used in computing basic and diluted loss per share	5,087,029	4,177,554	5,090,993	4,185,242	4,589,386

Earnings Call Q2 2024 AGENDA

CEO Update / By Ofer Haviv

• Financial & Business highlights
• Evogene Overview

Q&A

• Subsidiaries' Achievements
• CFO Update / By Yaron Eldad

THANK YOU