Cibus, Inc.

In June 2025, building on efficiencies from restructuring initiatives introduced in late 2024 to date, we announced further streamlining of our operational focus to preserve capital resources and concentrate our working capital expenditures on the commercial advancement of the Company’s weed management traits for Rice. On July 21, 2025, our Board of Directors approved a reduction in workforce of approximately 34 full-time employees as a pivotal step in implementing our streamlined business focus, which reduction in workforce was completed as of December 31, 2025.

We believe our Rice herbicide tolerance traits represent potential annual accessible royalties of over $200 million upon full commercialization across our initial target markets of Latin America and the United States. There are over 400 million acres of rice grown globally across five key regions (estimated: United States, 3 million acres; Latin America, 6.5 million acres; India, 120 million acres; Asia (excluding China), 60 million acres; and China, 75 million acres). Our longer term strategy targets approximately 200 million of these acres across the United Sates, Latin America, India and Asia (excluding China).

Alongside our fully company-funded Rice program, we also continue to advance our sustainable ingredients work, which includes a yeast fermentation biofragrance products program and our crop based lauric oils program, the development of which are currently partially funded and/or supported by a consumer-packaged goods partner. In 2025, we began receiving initial nominal payments associated with the ongoing commercialization efforts for our biofragrance products program. Based on management estimates regarding our expansion to additional fragrances and assumptions around peak future sales, we estimate that future annual revenue potential for the biofragrance products program could reach as high as$20-40 million over a long-term horizon.

Over the course of 2025, we implemented streamlining cost reduction actions, including rationalizing human capital resources and certainnon-core facilities, which we anticipate have the potential to reduce our annual net cash usage to approximately $30.0 million or less during the course of 2026. We anticipate that such efforts will contribute toward improved cash flow and financial stability. We are in the process of completing the consolidation of our core operations in San Diego, CA while prioritizing resources on advancing our Rice programs and completing ongoing or delaying future plannednon-Rice activities that are not partner-funded, such as field testing.