Moolec Science SA

Good morning, and welcome to Mulek Science's fourth quarter and full fiscal year 2024 conference call. My name is Bill Zima of ICR, Strategic Communications and Advisory. During this conference call, all participants will be muted until after management's remarks, when there will be a question and answer session. Please also note that today's session is being recorded. Today, Mulek announced its fourth quarter and full fiscal year 2024 business highlights. The document is now available on the company's investor relations website at ir.mulekscience.com. This morning, you will hear from Gaston Palladini, chief executive officer and co-founder of Mulek Science, together with José López Lecube, chief financial officer, and Anit Dhingra, chief science officer. During the Q&A session, they will be joined by Martin Salinas, Chief Technology Officer. In today's call, we will be referring to a presentation that will be later available on the company's investor relations website. Moving to slide two, this conference call is mainly for informational purposes, and during this call, the company will be making forward-looking statements regarding future events and results, which are not historical facts and include, but are not limited to, statements about the company's beliefs and expectations. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks are included in the company's annual report on Form 20-F filed with the SEC, also available on the company's investor relations website. Now, moving to slide three, I would like to turn the call over to Mulek CEO Gaston. Please go ahead.

Thank you, Bill. Good morning to everyone. It's a pleasure to once again provide our latest business update corresponding to our annual review for our company. Today's agenda will address the three main topics. As I just mentioned, we will first review the major milestones we have achieved during the fiscal year of 2024. Secondly, Mulek's Chief Financial Officer will walk you through the financial overview. And last but not least, we would like to share with you our thoughts on what we expect for fiscal year 2025. Let's move now to the next slide. We will recap the main milestones that MULEC team achieved during fiscal year 2024. Turn with me now to slide five. What a phenomenal year had been for MULEC in terms of scientific developments. and business operations and regulatory achievements. Our team has been willing to deliver milestone after milestone and continues to fire up on all fronts to push out deliverables on all pillars. We have the commercialization of our science-based product using molecular farming technology shortly on the horizon, built upon the many efforts over the last year from the setting up MULEX cell phone molecular biology lab in the U.S. to the stabilization of animal protein expression levels in piggy soy product, as well as receiving USDA approval for piggy soy, while preparing glass of product for commercialization for trial production and securing farmland for production, and increasing piggy soy seeds in three U.S. locations, The MOLEC team has shown exceptional execution. To provide more details on this achievement during fiscal year 2024, I would like to hand things over to Amit Dhingra, our Chief Signing Officer. Amit, over to you.

Thank you, Gaston. I'm excited to share the significant accomplishments of the Molecular Farming team over this fiscal year. In the first quarter of fiscal year 2024, we successfully set up our fully-owned plant molecular biology lab, the Mu Labs, in College Station, Texas. Our lab became fully operational in Q1 FY 2024, and I oversaw our plant molecular farming team that focused on the molecular characterization of the transgenic events for our target products. Conducting a significant portion of our plant biology R&D projects in-house versus third-party labs helped us centralize and streamline the process. It facilitated faster implementation of decisions, ensuring the highest quality control standards, and improved the timeliness and quality of work while generating cost savings. Also during the first quarter, we achieved significant results in the continued development of Piggy's soy product. During the first quarter, we harvested and analyzed third generation or T3 transgenic events at MooLabs. Consistent with the prior results, the expression values of the animal protein or myoglobin reached up to 20% in T3. Previously, we had observed expression levels of up to 25% of the total soluble protein in 2T2. Overall, what we have observed is that the expression of the animal protein has stabilized across three generations, which is very exciting. On to the second half of the year. This business update marks a crucial moment for Molek. In the third quarter, we announced a groundbreaking milestone. The first ever approval from USDA is making Mulek the first company in our industry to achieve such a regulatory breakthrough. This achievement exemplifies our commitment to harnessing the power of plants through cutting-edge science, addressing critical challenges like climate change and global food security. For those new to our journey, Mulek has developed a unique, patentable soybean platform technology under the trademark PiggySoy. Our dedicated scientific team has achieved remarkable results, expressing animal meat proteins in soybeans, with porcine protein levels reaching up to 25% of total soluble protein in the seeds. With this approval, USDA APHIS RSR has determined that piggy soy poses no greater plant pest risk than non-engineered soybeans, allowing us to transport and distribute this product with individual APHIS permits. This significantly accelerates logistics and reduces costs while ensuring full compliance with USDA regulations, giving MULEC a distinct advantage in the market. Also in the third quarter, we carried out a trial for our downstream production of glaso with our industrial partner in Iowa, as we optimized, processed, and produced a few tons of material to fine tune the process. In the fourth quarter, we began planting after successfully contracting 600 acres with key growers to produce glaso seeds for crushing. Additionally, we contracted 60 more acres for seed production, aiming to yield 300 to 400 tons of safflower. This product has multiple customers, including a major client, as previously announced with Molex signing an offtake agreement with a leading global CPG company. In addition, piggy soy field trials have commenced in Ohio, Missouri, and Iowa in order to increase seeds for scale-up and sampling for customers and to collect environmental and regulatory data as we work on the U.S. FDA approvals. Now, I'd like to turn the presentation over to my colleague, Jose, for the financial overview part of the presentation. Thank you very much for your kind attention.