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.

• Biocontrol and biofertility markets expected to grow at 15% and 12.2% CAGR, respectively, through 2032-2033.

• Regulatory pressure is increasing on synthetic chemicals, driving demand for organic and sustainable solutions.

• EU targets 25% of agricultural land to be organic by 2030, supporting growth in natural biologics.

• Bayer aims to shape regenerative agriculture on over 400 million acres globally.

Product portfolio and commercialization

• TerraSANTE is a registered biofertility product, launched in the US with commercial sales ramping up since 2025.

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

• TerraSANTE is registered in key US states and certified for organic use, targeting high-value crops like strawberries, potatoes, and leafy greens.

• TerraMG is positioned as an organic replacement for traditional soil fumigants, with exclusive licensing and partnership with Bayer in EMEA.

• Commercial scale ramp-up for TerraSANTE is underway, with product sold out in 2025 and expansion into new markets planned.

Financials and capital structure

• 63M shares outstanding, $35M CAD market cap, and 20% management and advisor ownership.

• Cash position of $419,577 CAD as of March 31, 2026, with $417,991 CAD in debt that has no maturity or interest.

• Asset-light model with production capacity scalable from 650 to 3,900 tonnes, supporting potential revenue of $16M to $100M USD.

• Gross margin estimates range from 20-40%, with initial production requiring no capex.

• Commercial licensing agreements include upfront, milestone, and royalty payments.