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TMG and Verdeca Receive Approval to Commercialize HB4® Drought Tolerant Soybeans in Brazil

-- Novel trait stack will help growers facing climate and production challenges --

CAMBÉ, Brazil; DAVIS, Calif and ROSARIO, Argentina (May 24, 2019) - TMG, Tropical Melhoramiento & Genetica and Verdeca, a joint venture between Arcadia Biosciences, Inc. (Nasdaq: RKDA) and Bioceres Crop Solutions Corp. (NYSE American: BIOX), announced today that they have successfully completed the regulatory process and received commercial approval in Brazil from National Technical Commission of Biosafety (CTNBio) for Verdeca’s HB4® drought tolerant transgenic trait in soybeans. The approval allows the planting and harvesting of HB4 soybean varieties in Brazil.

Besides the HB4 trait alone, the event stack with an herbicide tolerance trait was also approved. This stack is Verdeca’s newest product release from its pipeline of traits developed to benefit soybean producers through quality improvement, stress mitigation and management practices.

The approval by CTNBio is followed by public comment period of 30 days, before the definitive approval document is produced. Commercial launch of the HB4 trait in Brazil is contingent upon approvals by the main soybean grain importing countries, which are ongoing, and by a variety of registration processes.

Verdeca’s HB4 trait has already been approved in Argentina and by the U.S. Food & Drug Administration. Regulatory submissions are currently under consideration by the U.S. Department of Agriculture, as well as in China, Paraguay, Bolivia and Uruguay.

More than 34 million of the world’s soybean hectares are grown in Brazil. In the past two seasons, South American regions have experienced significant drought conditions, and the HB4 trait would have prevented grain yield drought losses for Argentinian and Southern Brazilian’s soybean farmers. The continuing use of HB4 trait would reduce risk of losses due to local or regional drought conditions every season.

“This novel trait event will enable soybean growers to protect yields under stressful climatic conditions,” said Martin Mariani Ventura, general manager of Verdeca. “The deregulation of this technology in Brazil is another significant step for the successful commercialization of HB4 technology in South America.”

“HB4 is the first soybean transgenic trait that goes beyond the traditional package for herbicide tolerance and insect resistance. It will provide yield stability across diverse environments and farmers will see a direct benefit from the use of the technology,” said Francisco Soares, CEO of TMG.

According to Alexandre Garcia, research manager at TMG, this commercial approval of the HB4 trait will allow larger testing for breeding, seed increase and soybeans variety registration in Brazilian territory. “TMG, as a Brazilian company, is proud to be part of this project in collaboration with Verdeca and to have completed the regulatory milestone in Brazil. It is very important to have South American companies bringing innovation to South American farmers.”

Besides the regulatory work, TMG and Verdeca have developed a strategic partnership to combine TMG´s germplasm capabilities with Verdeca´s soybean technologies.

Arcadia Biosciences and Bioceres Crop Solutions formed Verdeca in 2012 to deploy next-generation soybean traits in all key production regions, beginning in South America and North America, which together represent nearly 80 percent of the harvested soybean hectares globally.

About TMG
TMG (Tropical Melhoramento & Genética S/A) is an independent soybean, cotton and corn breeding company based in Brazil, with state-of-the-art facilities that enable rapid development of new cultivars adapted to different locations in the globe. TMG is focused on developing high yielding cultivars with genetic technologies that improve plant health and profitability to the farmer. TMG was the first company to launch soybean cultivars with the Inox Technology®, which incorporates genetic resistance to Asian Soybean Rust. TMG was also the first company to register a soybean cultivar with resistance to all known races of soybean cyst nematode. These innovations address a larger number of benefits in the field and help lower production costs. To learn more about the company and our genetic solutions access www.tmg.agr.br.

About Bioceres Crop Solutions
Bioceres Crop Solutions Corp. (NYSE American: BIOX) is a fully-integrated provider of crop productivity solutions, including seeds, seed traits, seed treatments, biologicals, high-value adjuvants and fertilizers. Unlike most industry participants that specialize in a single technology, chemistry, product, condition or stage of plant development, we have developed a multi-discipline and multi-product platform capable of providing solutions throughout the entire crop cycle, from pre-planting to transportation and storage. Our platform is designed to cost-effectively bring high-value technologies to market through an open-architecture approach. For more information visit www.biocerescrops.com.

About Arcadia Biosciences, Inc.
Arcadia Biosciences, Inc. (Nasdaq: RKDA) develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet. Arcadia’s GoodWheat™ branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. The company’s agricultural traits are being developed to enable farmers around the world to be more productive and minimize the impact of agriculture on the environment. For more information, visit www.arcadiabio.com.

About Verdeca
Verdeca, a U.S.-based joint venture between Bioceres and Arcadia Biosciences, develops and deregulates soybean varieties with next-generation agricultural technologies. Working in partnership with South American growers, Verdeca aims to provide technologies that help increase crop productivity, making more efficient and sustainable use of land and water resources. For more information visit www.verdeca.com.

Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Arcadia’s and its partners’ and affiliates’ ability to develop commercial products incorporating their traits, and complete the regulatory review process for such products; Arcadia’s compliance with laws and regulations that impact Arcadia’s business, and changes to such laws and regulations; Arcadia’s future capital requirements and ability to satisfy its capital needs; and the other risks set forth in Arcadia’s filings with the Securities and Exchange Commission from time to time, including the risks set forth in Arcadia’s Annual Report on Form 10-K for the year ended December 31, 2018and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.