RKDA

– Net cash used in operating activities only $319K in the second quarter –– Arcadia closes $4 million private placement; ends second quarter with $4.2 million in cash –– July monthly Zola® sales top $740K; exceed $1 million through first week of August – DALLAS, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative wellness products, today released its financial and business results for the second quarter and first half of 2026. “We were very pleased with our second quarter financial results,” said T.J. Schaefer, CEO of Arcadia. “Our cash used in operating activities was only $319,000 during the quarter, we have a cash balance of $4.2 million at the end of the quarter and our SG&A expenses declined by $1,000,000 versus the same period of last year, to an all-time low.” Schaefer continued, “We believe Zola® has reached an inflection point and is now entering a new growth phase. While second quarter sales were flat compared to last year due to low inventory and shipping delays, these issues have been corrected resulting in July sales that were more than half of the sales for the entire second quarter that we are reporting today. “In addition, after raising $4 million in gross proceeds through a private placement in June, we now have the cash to fund Zola’s growth, which we expect to accelerate as a result of new products we are bringing to market. In Q4 2026, we will launch a 1-liter espresso with a new formula that tastes more like coffee than coconut water and has pre-launch commitments from our two largest customers. In the first half of 2027, we have a plan to launch three new additional products that we are very excited about,” Schaefer added. More detailed financial information is included in the company’s Report on Form 8-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC), available in the Investors section of the company’s website under SEC Filings. RevenuesRevenues decreased slightly during the second quarter of 2026 compared to the same period in 2025. Zola revenues decreased $112,000, or 4%, during the first half of 2026 compared to the same period in 2025. The shortfalls in both the second quarter and first half of 2026 were primarily driven by low inventory balances and longer-than-expected shipping times. Operating ExpensesTotal operating expenses decreased slightly during the second quarter of 2026 despite a $1.0 million decrease in SG&A as 2025 operating expenses included a $1 million gain from the elimination of a contingent liability. Total operating expenses increased by $1.2 million during the first half of 2026 despite a $1.6 million decrease in SG&A due to $2.8 million in gains recognized in the first half of 2025. Cost of revenues were essentially unchanged during the second quarter and first half of 2026 compared to the same periods in 2025.SG&A decreased by $1.0 million and $1.6 million during the second quarter and first half of 2026, respectively, compared to the same periods in 2025, driven by lower employee costs and the absence of M&A fees in 2026.Other operating expenses decreased by $1.0 million during the second quarter of 2026 compared to the same period in 2025 due to a $1.0 million gain from the elimination of a contingent liability in the second quarter of 2025. Other operating expenses decreased by $2.8 million during the first half of 2026 compared to the same period in 2025 due to a $2.0 million gain from the elimination of a contingent liability as well as a $750,000 gain related to the sale of intangible assets that occurred in the first half of 2025. Net Loss Attributable to Common StockholdersNet loss attributable to common stockholders for the second quarter of 2026 was $6.3 million, or $2.09 per share, compared to a net loss of $4.5 million, or $3.26 per share, for the second quarter of 2025. The second quarter of 2026 included a $2.8 million unrealized loss related to the Above Food stock held by the company, a $5.4 million valuation loss relating to the company’s June 2026 PIPE financing transaction, and offering costs of $651,000, which were offset by a gain related to the change in fair value of common stock warrant and option liabilities. The second quarter of 2025 included a $4.5 million credit loss related to the note receivable from Above Food, which was offset by a $1.1 million unrealized gain related to the Above Food stock. Net loss attributable to common stockholders for the first half of 2026 was $10.7 million, or $4.19 per share, compared to a net loss of $1.9 million, or $1.36 per share, for the first half of 2025. The first half of 2026 included a $4.3 million unrealized loss related to the Above Food stock, a $2.9 million loss on the company’s January 2026 inducement offer financing transaction, a $5.4 million valuation loss on the June 2026 PIPE, and offering costs of $1.1 million, which were offset by a $4.3 million gain related to the change in fair value of common stock warrant and option liabilities. The first half of 2025 included a $4.5 million credit loss related to the note receivable from Above Food, which was offset by a $1.1 million unrealized gain related to the Above Food stock and $1.3 million gain related to the change in fair value of common stock warrant and option liabilities. About Arcadia Biosciences, Inc.Since 2002, Arcadia Biosciences (Nasdaq: RKDA) has been innovating high-value, healthy ingredients to meet consumer demands for healthier choices. With its roots in agricultural innovation, Arcadia cultivates next-generation wellness products. For more information, visit www.arcadiabio.com. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future results of operations concerning the company and its products, including, but not limited to, statements relating to Zola products and sales, the company’s growth, cash position, operating costs, financial performance, evaluation of possible strategic alternatives and transactions, and the impact on shareholder value. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements are only predictions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results anticipated by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks set forth in filings that the company makes with the Securities and Exchange Commission from time to time, including in Arcadia’s Annual Report on Form 10-K for the year ended December 31, 2025 (the 2025 Form 10-K), and other filings that the company makes with the SEC. Forward-looking statements concerning anticipated future activities also assume that the company has sufficient funding to continue its operations and planned activities, which may not be the case. As described in greater detail in the 2025 Form 10-K and in the company’s Quarterly Report on Form 10-Q for the period ended June 30, 2026, the company will require additional funding to continue its operations and planned activities. There are no assurances that required funding will be available at all or will be available in sufficient amounts or on reasonable terms. The company may seek to raise additional funds through equity or debt financings, through transactions involving its other assets, or through other transactions, and may seek other strategic alternatives and transactions. Any sale of additional equity securities could result in dilution to company stockholders. Reported results should not be considered as an indication of future performance. Forward-looking statements made in this press release speak only as of the date hereof, and except as required by law, Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements or to reflect events or circumstances arising after the date of this press release. Arcadia Biosciences Contact:T.J. [email protected]

-- Zola® volumes increase 18% year-over-year -- -- SG&A at lowest level in Arcadia’s history -- DALLAS, May 14, 2026 (GLOBE NEWSWIRE) -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative wellness products, today released its financial and business results for the first quarter of 2026. “We are very pleased with our performance during the first quarter of 2026,” said T.J. Schaefer, CEO of Arcadia. “We were able to bring in gross proceeds of approximately $2.1 million from the exercise of previously outstanding preferred investment options, Zola® coconut water revenues and volumes increased at a double-digit rate compared to the same quarter last year, and our selling, general, and administrative expenses are at the lowest level in Arcadia’s history as a public company. “Going forward, we continue to evaluate strategic alternatives but also remain focused on growing our Zola coconut water brand and are excited about the prospects of launching a new product that we expect to be on the shelves of many of our largest customers this fall,” Schaefer added. More detailed financial information is included in the company’s Report on Form 8-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC), available in the Investors section of the company’s website under SEC Filings. Revenues Sales of Zola coconut water unit volumes increased 18% and also benefitted from a price increase that went into effect at the beginning of the year. However, reported revenues decreased $100,000, or 8%, during the first quarter of 2026 compared to the same period in 2025, driven primarily by a revenue reserve release of approximately $193,000 in 2025. Operating Expenses Total operating expenses increased by $1.2 million during the first quarter of 2026 compared to the same period in 2025 due to the $750,000 gain on sale of the company’s reduced gluten and oxidative stability patent portfolios and $1.0 million gain related to the change in fair value of contingent consideration liability in the first quarter of 2025. Cost of revenues increased $18,000, or 3%, during the first quarter of 2026 compared to the same period in 2025 driven primarily by the increase in Zola sales volume, which increased product costs and freight expenses. Selling, general, and administrative expenses decreased by $559,000 during the first quarter of 2026 compared to the same period in 2025, driven primarily by the absence of M&A fees and lower employee costs in the first quarter of 2026. Net Loss (Income) Attributable to Common Stockholders Net loss attributable to common stockholders for the first quarter of 2026 was $4.4 million, or $2.11 per share, a $7.0 million decrease from the $2.6 million net income, or $1.90 per share, for the first quarter of 2025. The decrease was primarily driven by the loss relating to the company’s January 2026 warrant inducement offer transaction of $2.9 million and other loss of $1.5 million, in addition to the $750,000 gain on sale of the company’s reduced gluten and oxidative stability patent portfolios and $1.0 million gain related to the change in fair value of contingent consideration liability in the first quarter of 2025. About Arcadia Biosciences, Inc. Since 2002, Arcadia Biosciences (Nasdaq: RKDA) has been innovating high-value, healthy ingredients to meet consumer demands for healthier choices. With its roots in agricultural innovation, Arcadia cultivates next-generation wellness products. For more information, visit www.arcadiabio.com. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future results of operations concerning the company and its products, including, but not limited to, statements relating to Zola products and sales, the company’s growth, cash position, operating costs, financial performance, evaluation of possible strategic alternatives and transactions, and the impact on shareholder value. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements are only predictions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results anticipated by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks set forth in filings that the company makes with the Securities and Exchange Commission from time to time, including in Arcadia’s Annual Report on Form 10-K for the year ended December 31, 2025 (the 2025 Form 10-K), and other filings that the company makes with the SEC. Forward-looking statements concerning anticipated future activities also assume that the company has sufficient funding to continue its operations and planned activities, which may not be the case. As described in greater detail in the 2025 Form 10-K and in the company’s Quarterly Report on Form 10-Q for the period ended March 31, 2026, the company will require additional funding in the near future to continue its operations and planned activities. There are no assurances that required funding will be available at all or will be available in sufficient amounts or on reasonable terms. The company may seek to raise additional funds through equity or debt financings, through transactions involving its other assets, or through other transactions. Any sale of additional equity securities could result in dilution to company stockholders. Reported results should not be considered as an indication of future performance. Forward-looking statements made in this press release speak only as of the date hereof, and except as required by law, Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements or to reflect events or circumstances arising after the date of this press release. Arcadia Biosciences Contact: T.J. Schaefer [email protected]

-- Zola® revenues increase 17% year-over-year -- -- Arcadia and Roosevelt Resources terminate proposed business combination -- -- Exercise of preferred investment options yields $2.1 million gross proceeds -- DALLAS, March 26, 2026 (GLOBE NEWSWIRE) -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative wellness products, today released its financial and business results for the fourth quarter and full year of 2025. “At the end of 2025, we received a termination notice from Roosevelt Resources related to the Securities Exchange Agreement concerning a proposed business combination, signed in December 2024.” said T.J. Schaefer, CEO of Arcadia. Schaefer continued, “After receiving this news, we took steps to improve our balance sheet by entering into definitive agreements for the immediate exercise of certain outstanding preferred investment options, resulting in gross proceeds of approximately $2.1 million to Arcadia. We intend to use these proceeds, along with our other assets, to continue growing our Zola® coconut water brand while we evaluate strategic alternatives. “In 2025, Zola sales growth continued to outpace the coconut water category. At the same time, we reduced our SG&A expenses by approximately 27%, and our net cash used in operating activities declined by 49% in 2025 compared to 2024,” Schaefer added. Certain previously reported financial information has been reclassified to conform to the current year presentation. Reclassifications are related to the presentation of the financial results of our former GoodWheat™ brand as discontinued operations. The financial information above and narrative that follows relate to continuing operations unless stated otherwise. More detailed financial statements are included in the Form 8-K filed today, available in the Investors section of the company’s website under SEC Filings. Revenues Revenues decreased by $315,000, or 26%, during the fourth quarter of 2025 compared to the same period in 2024 in part due to lower Zola sales and higher deductions. In addition, the fourth quarter of 2024 included $55,000 in sales of GLA oil that were absent in 2025. Revenues for the full year of 2025 decreased $187,000, or 4%, compared to 2024 despite an increase in Zola sales primarily due to $756,000 in sales of GLA oil in 2024 that were absent in 2025. Zola revenues increased $701,000, or 17%, compared to 2024 primarily driven by an increase in distribution resulting in higher sales volume. Operating Expenses Cost of revenues decreased by $118,000, or 14%, during the fourth quarter of 2025 compared to the same period in 2024 primarily due to lower Zola sales. Cost of revenues increased $135,000, or 5%, during 2025 compared to 2024 driven by a 17% increase in Zola sales, which increased product costs and freight expenses. Cost of revenues for 2024 also included a write-down of $154,000 related to hemp and GoodWheat seed. Selling, general, and administrative (SG&A) expenses decreased by $1.1 million and $2.6 million for the fourth quarter and full year of 2025 compared to the same periods in 2024, respectively, primarily driven by operating costs and employee related costs in 2024 that were absent in 2025. Other operating expenses increased by $1.2 million for the full year 2025 compared to 2024 driven by a $4.0 million gain related to the asset sale to Corteva in 2024 that was offset by a $750,000 gain related to the asset sale to Bioceres as well as a gain of $2.0 million associated with the reduction of the company’s contingent liability in 2025. Net Loss Attributable to Common Stockholders Net loss attributable to common stockholders for the fourth quarter of 2025 was $1.4 million, or $0.97 per share, compared to $4.1 million, or $2.98 per share, for the same period in 2024. The improvement in net loss attributable to common stockholders for the fourth quarter of 2025 compared to the same period in 2024 was primarily driven by the decrease in SG&A expenses as well as the change in the estimated fair value of common stock warrant and option liabilities. Net loss attributable to common stockholders for 2025 was $2.3 million, or $1.71 per share, compared to $7.1 million, or $5.17 per share, for 2024. The improvement in net loss attributable to common stockholders for 2025 compared to 2024 was primarily driven by the decrease in SG&A expenses, a gain of $2.3 million related to the Above Food common stock, and the change in the estimated fair value of common stock warrant and option liabilities. About Arcadia Biosciences, Inc. Since 2002, Arcadia Biosciences (Nasdaq: RKDA) has been innovating high-value, healthy ingredients to meet consumer demands for healthier choices. With its roots in agricultural innovation, Arcadia cultivates next-generation wellness products. For more information, visit www.arcadiabio.com. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future results of operations concerning the company and its products, including, but not limited to, statements relating to the company’s growth, cash position, operating costs, financial performance, and the impact on shareholder value. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements are only predictions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results anticipated by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks set forth in filings that the company makes with the Securities and Exchange Commission from time to time, including in Arcadia’s Annual Report on Form 10-K for the year ended December 31, 2025 (the 2025 Form 10-K), and other filings that the company makes with the SEC. Forward-looking statements concerning anticipated future activities also assume that the company has sufficient funding to continue its operations and planned activities, which may not be the case. As described in greater detail in the 2025 Form 10-K, the company will require additional funding in the near future to continue its operations and planned activities. There are no assurances that required funding will be available at all or will be available in sufficient amounts or on reasonable terms. The company may seek to raise additional funds through equity or debt financings, through transactions involving its other assets, or through other transactions. Any sale of additional equity securities could result in dilution to company stockholders. Reported results should not be considered as an indication of future performance. Forward-looking statements made in this press release speak only as of the date hereof, and except as required by law, Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements or to reflect events or circumstances arising after the date of this press release. Arcadia Biosciences Contact: T.J. Schaefer [email protected]

-- Zola® year-to-date revenues increase 26% year over year -- -- Arcadia gross profit margins exceed 30% for 11th straight quarter -- -- Arcadia cash balance declines by only $257K to $1.1M -- DALLAS, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative wellness products, today released its financial and business results for the third quarter of 2025. “We are very pleased with our performance for the third quarter of 2025.” said T.J. Schaefer, CEO of Arcadia. “Zola® coconut water revenues were flat year-over-year in the third quarter as we overlapped the initial sell-in to Zola’s largest customer during the third quarter of 2024. However, on a year-to-date basis, Zola coconut water revenues have grown 26% and more than offset $700,000 in GLA sales in 2024 that did not occur in 2025. Additionally, our gross margins have now exceeded 30% for eleven consecutive quarters, SG&A expenses are at an all-time low and our cash management exceeded our expectations. “In addition to our strong operating performance, we continue to own 2.7 million shares of Above Food Ingredients Inc. stock as a partial repayment of the $6 million principal amount of the note receivable related to the sale of GoodWheatTM assets in the second quarter of 2024 and are pursuing resolution of the remaining outstanding balance. “Our pending business combination with Roosevelt Resources is still in progress,” Schaefer continued, “but uncertainty exists regarding the timing due to several factors including the ongoing federal government shutdown that went into effect over a month ago. We continue to monitor events closely, but the shutdown is obviously a situation that is outside of our control.” Arcadia Biosciences, Inc. Financial Snapshot (Unaudited) ($ in thousands) Certain previously reported financial information has been reclassified to conform to the current year presentation. Reclassifications are related to the presentation of the financial results of our former GoodWheatTM brand as discontinued operations. The financial information above and narrative that follows relate to continuing operations unless stated otherwise. More detailed financial information is included in the company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC), available in the Investors section of the company’s website under SEC Filings. Revenues Revenues decreased $235,000, or 15%, during the third quarter of 2025 compared to the same period in 2024 due to $217,000 in sales of GLA oil in 2024 that were absent in 2025. In addition, Zola third quarter sales in 2024 had the benefit of an incremental $165,000 driven by the initial sell-in to a large customer. Revenues increased $128,000, or 3%, and consisted entirely of Zola coconut water sales during the first nine months of 2025 compared to the same period in 2024. Zola revenues increased $820,000, or 26% during the first nine months of 2025 compared to the same period in 2024. This was primarily driven by an increase in distribution resulting in higher sales volume. The company did not implement any price increases during 2024 or 2025. Revenues for the first nine months of 2024 included $701,000 from sales of GLA oil that were absent in 2025. Operating Expenses Cost of revenues decreased $148,000, or 14%, during the third quarter of 2025 compared to the same period in 2024 driven by a write-down of $154,000 related to hemp and GoodWheat seed in 2024. There was no such write-down of inventory in 2025. Cost of revenues for the same period in 2024 included $18,000 from GLA oil. Cost of revenues increased by $253,000, or 12%, and consisted primarily of Zola coconut water costs during the first nine months of 2025 compared to the same period in 2024. Zola cost of revenues increased $472,000, or 25% during the first nine months of 2025 compared to the same period in 2024 driven by a 26% increase in Zola sales. Cost of revenues for the first nine months of 2024 included $64,000 of costs from GLA oil as well as a write-down of $154,000 related to hemp and GoodWheat seed. SG&A decreased by $671,000 and $1.6 million during the third quarter and first nine months of 2025, respectively, compared to the same periods in 2024, driven primarily by operating costs and employee related costs in 2024 that were absent in 2025. Other operating expenses (income) increased by $1.2 million during the first nine months of 2025 compared to the same period in 2024. This was driven by a $4.0 million gain on the sale of RS durum wheat patents to Corteva that occurred in 2024, compared to a $2.8 million gain recognized in 2025 related to the agreement with Bioceres Crop Solutions Corp to transfer rights related to reduced gluten and oxidative stability patents, as well as the agreement with Bioseed Research India to terminate the license agreement for certain intellectual property. Credit Loss and Common Stock Received On May 1, 2025, Arcadia delivered a notice to Above Food Corp. to exercise a stock election option provided for in the Above Food Promissory Note related to the sale of GoodWheat assets in May 2024. The notice indicated that pursuant to the provisions of the Promissory Note, the number of shares issuable was approximately 3.5 million shares of common stock of Above Food Ingredients Inc. (ABVE), satisfying the final $2 million installment payment obligation under the Promissory Note. In June 2025, ABVE issued approximately 2.7 million shares to Arcadia, partially satisfying the stock election, and the company believes approximately 800,000 shares relating to the company's stock election notice remain issuable. Additionally, the first payment of principal and accrued interest under the Promissory Note was due on May 14, 2025, and as of September 30, 2025, had not been paid. As such, Arcadia recognized a credit loss of $4.7 million for the remaining outstanding principal amount, accrued interest, and other related receivables that would remain after fulfillment of the stock election. Net Income / Loss Attributable to Common Stockholders Net income attributable to common stockholders for the third quarter of 2025 was $856,000, or $0.63 per share, a $2.5 million improvement from the $1.6 million net loss, or $1.18 per share, for the third quarter of 2024. The improvement in net income attributable to common stockholders for the third quarter of 2025 compared to the same period in 2024 was primarily driven by other income of $1.7 million related to an unrealized gain of the same amount on the ABVE common stock. Net loss attributable to common stockholders for the first nine months of 2025 was $1.0 million, or $0.73 per share, a $2.0 million improvement from the $3.0 million net loss, or $2.18 per share, for the first nine months of 2024. The improvement in net loss attributable to common stockholders for the first nine months of 2025 compared to the same period in 2024 was primarily driven by the $4.7 million credit loss related to the note receivable from Above Food recognized during the first nine months of 2025, partially offset by the $4.0 million gain on the sale of RS durum wheat patents to Corteva that occurred during the first nine months of 2024. Conference Call In light of the ongoing transaction with Roosevelt Resources and the related registration statement on Form S-4 (initially filed with the SEC on February 14, 2025, and amended July 31, 2025), the company will not hold a conference call to discuss third quarter results. About Arcadia Biosciences, Inc. Since 2002, Arcadia Biosciences (Nasdaq: RKDA) has been innovating high-value, healthy ingredients to meet consumer demands for healthier choices. With its roots in agricultural innovation, Arcadia cultivates next-generation wellness products. For more information, visit www.arcadiabio.com. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the company and its products, including statements relating to the company’s growth, cash position, operating costs, financial performance, commercialization of products, strategic transactions, our ability to obtain sufficient funding required to continue our operations and planned activities, our ability to obtain the stockholder approvals required to complete the proposed business combination transaction with Roosevelt Resources, LP and to satisfy the closing conditions contained in the agreements relating to the transaction, the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the proposed business combination transaction, and the anticipated timing of the closing of the proposed business combination transaction with Roosevelt Resources. 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, the risks set forth in filings that the company makes with the Securities and Exchange Commission from time to time, including in Arcadia’s Annual Report on Form 10-K for the year ended December 31, 2024 as amended, the registration statement on Form S-4 initially filed with the SEC on February 14, 2025 and amended July 31, 2025, and other filings that the company makes with the SEC. These forward-looking statements speak only as of the date hereof, and except as required by law, Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements. No Offer or Solicitation As previously reported on a Report on Form 8-K filed by the company with the SEC, on December 4, 2024, the company, Roosevelt Resources, LP, a Texas limited partnership, and certain other parties entered into a Securities Exchange Agreement (as the same may be amended, the Exchange Agreement) providing for the combination of the two companies in an all-stock transaction. Under the terms of the Exchange Agreement, at the closing of the transactions contemplated by the Exchange Agreement, Arcadia will issue to the partners of Roosevelt shares of Arcadia common stock in exchange for all of the equity interests in Roosevelt. This press release, including the information contained herein, is not intended to and does not constitute (i) a solicitation of a proxy, consent or approval with respect to any securities or in respect of the proposed transaction or (ii) an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, no offer will be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction. Additional Information for Stockholders In connection with the proposed transaction, Arcadia intends to file relevant materials with the SEC and previously filed a Registration Statement on Form S-4 that includes a preliminary proxy statement/prospectus, with the SEC on February 14, 2025, and filed a pre-effective amendment to the Registration Statement on July 31, 2025. After the Registration Statement is declared effective by the SEC, Arcadia intends to mail a definitive proxy statement/prospectus to the stockholders of Arcadia relating to a meeting of stockholders to consider matters relating to the proposed transaction and other matters. This press release is not a substitute for the proxy statement/ prospectus or the Registration Statement or for any other document that Arcadia may file with the SEC and send to Arcadia’s stockholders in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF ARCADIA ARE URGED TO CAREFULLY AND THOROUGHLY READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY ARCADIA WITH THE SEC, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ARCADIA, ROOSEVELT, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS. Investors will be able to obtain free copies of the Registration Statement and proxy statement/prospectus, as each may be amended from time to time, and other relevant documents filed by Arcadia with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Arcadia will be available free of charge from Arcadia’s website at www.arcadiabio.com under the “Investors” tab. In addition, investors and stockholders should note that Arcadia communicates with investors and the public using its website. Stockholders are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transactions. Participants in the Proxy Solicitation Arcadia, Roosevelt and their respective directors, partners and certain of their officers and other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from Arcadia’s stockholders in connection with the proposed transactions. Information regarding the officers and directors of Arcadia is included in Arcadia’s most recent Annual Report on Form 10-K, as amended, filed with the SEC, including any information incorporated therein by reference, its definitive proxy statement for its 2024 annual meeting filed with the SEC on May 16, 2024, and in the Registration Statement initially filed with the SEC on February 14, 2025 and as amended July 31, 2025, and any amendments thereto as filed with the SEC. Additional information regarding such persons, as well as information regarding Roosevelt’s directors, managers and officers and other persons who may be deemed participants in the proposed transaction, will be set forth in the Registration Statement and proxy statement/prospectus, and any amendments thereto, and other materials, when they are filed with the SEC in connection with the proposed transaction. Free copies of these documents may be obtained from the sources indicated above. Arcadia Biosciences Contact: T.J. Schaefer [email protected]

-- Arcadia revenues increase 11% year over year driven by 24% growth in Zola® -- -- Arcadia receives 2.7 million shares of stock in ABVE -- -- Arcadia eliminates $1M in liabilities -- DALLAS, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative wellness products, today released its financial and business results for the second quarter and first half of 2025. “We are very pleased with our performance for the second quarter of 2025,” said T.J. Schaefer, CEO of Arcadia. “While our total revenues have increased 11% compared to the second quarter of 2024, Zola® coconut water revenues have grown 24% and once again surpassed the performance of the category. Our gross margins have now exceeded 30% for ten straight quarters, while our underlying operating expenses remain low, even with almost $700,000 in transaction fees this quarter. “In addition to our strong operating performance, we received 2.7 million shares of stock in Above Food Ingredients Inc. as a partial repayment of the $6 million principal amount of the note receivable related to the sale of GoodWheat™ assets in the second quarter of 2024, and we continue to pursue repayment of the remaining outstanding balance. We have also completed the exit from our legacy businesses following the agreement with Bioseed Research India, which resulted in the elimination of the remaining $1 million in contingent liabilities, bringing the total to $2 million of liabilities that have been eliminated year-to-date. “Our pending business combination with Roosevelt Resources continues to move forward,” Schaefer continued. “We recently filed an amendment to the initial Form S-4 registration statement to provide responses to comments received from the SEC and to provide updated financial information through the first quarter of 2025 for both Arcadia Biosciences and Roosevelt Resources.” Certain previously reported financial information has been reclassified to conform to the current year presentation. Reclassifications are related to the presentation of the financial results of our former GoodWheat™ brand as discontinued operations. The financial information above and narrative that follows relate to continuing operations unless stated otherwise. More detailed financial information is included in the company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC), available in the Investors section of the company’s website under SEC Filings. Revenues Revenues increased $149,000, or 11%, and consisted entirely of Zola coconut water sales during the second quarter of 2025 compared to the same period in 2024. Zola revenues increased $280,000 or 24% during the second quarter of 2025 compared to the same period in 2024 primarily driven by higher sales volume. Revenues for the second quarter of 2024 included $130,000 from sales of GLA oil. Revenues increased $362,000, or 16%, and consisted entirely of Zola coconut water sales during the first half of 2025 compared to the same period in 2024. Zola revenues increased $846,000, or 47% during the first half of 2025 compared to the same period in 2024 driven by increased distribution and higher sales volume. Revenues for the six months ended June 30, 2024, included $484,000 from sales of GLA oil. Arcadia did not implement any price increases during 2024 or the first half of 2025. Operating Expenses Cost of revenues increased $191,000, or 30%, during the second quarter of 2025 compared to the same period in 2024, and they consisted entirely of Zola coconut water costs. Zola cost of revenues increased $204,000, or 33% during the second quarter of 2025 compared to the same period in 2024. Cost of revenues for the same period in 2024 included $13,000 from GLA oil. Cost of revenues increased by $402,000, or 36%, and consisted entirely of Zola coconut water costs during the first half of 2025 compared to the same period in 2024. Zola cost of revenues increased $448,000, or 42% during the first half of 2025 compared to the same period in 2024. Cost of revenues for the same period in 2024 included $46,000 from GLA oil. SG&A decreased by $560,000 and $884,000 during the second quarter and first half of 2025 compared to the same periods in 2024 driven by operating costs and employee related costs in 2024 that were absent in 2025. Other operating expenses increased by $3.0 million during the second quarter of 2025 compared to the same period in 2024. This was driven by a $4.0 million gain on the sale of RS durum wheat patents to Corteva that occurred during the second quarter of 2024 and was absent in 2025. This was partially offset by a $1.0 million gain from the elimination of a contingent liability that occurred in the second quarter of 2025 and was the result of the agreement with Bioseed Research India to terminate the license agreement for certain intellectual property. Other operating expenses increased by $1.3 million during the first half of 2025 compared to the same period in 2024. This was driven by a $4.0 million gain on the sale of RS durum wheat patents to Corteva that occurred during the second quarter of 2024 and was absent in 2025. This was partially offset by $1.75 million in gains that occurred in the first half of 2025 and were related to the agreement with Bioceres Crop Solutions Corp to transfer rights related to reduced gluten and oxidative stability patents. The gain from 2024 was also partially offset by a $1.0 million gain from the elimination of a contingent liability that occurred in the first half of 2025 and was the result of the agreement with Bioseed Research India to terminate the license agreement for certain intellectual property. Credit Loss and Common Stock Received On May 1, 2025, Arcadia delivered a notice to Above Food Corp. to exercise a stock election option provided for in their Promissory Note related to the sale of GoodWheat assets in the second quarter of 2024. The notice indicated that pursuant to the provisions of the Promissory Note, the number of shares issuable was approximately 3.5 million shares of common stock of Above Food Ingredients Inc. (ABVE), satisfying the final $2 million installment payment obligation under the Promissory Note. Subsequently, ABVE issued approximately 2.7 million shares to Arcadia, partially satisfying the stock election, and the company believes approximately 800,000 shares relating to the company's stock election notice remain issuable. Additionally, the first payment of principal and accrued interest under the Promissory Note was due on May 14, 2025, and as of June 30, 2025, had not been paid. As such, Arcadia has recognized a credit loss of $4.5 million to establish a reserve for the principal amount, accrued interest, and other related receivables that would remain after fulfillment of the stock election. Net Loss Attributable to Common Stockholders Net loss attributable to common stockholders for the second quarter of 2025 was $4.5 million, or $3.26 per share, a $5.5 million reduction from the $1.1 million net income, or $0.78 per share, for the second quarter of 2024. The reduction in net income attributable to common stockholders for the second quarter of 2025 compared to the same period in 2024 was primarily driven by the $4.5 million credit loss related to the note receivable from Above Food recognized during the second quarter 2025, partially offset by the $4.0 million gain on the sale of RS durum wheat patents to Corteva that occurred during the second quarter of 2024. Net loss attributable to common stockholders for the first half of 2025 was $1.9 million, or $1.36 per share, a $497,000 increase from the $1.4 million net loss, or $1.00 per share, for the first half of 2024. The increase in net loss attributable to common stockholders for the first half of 2025 compared to the same period in 2024 was primarily driven by the $4.5 million credit loss related to the note receivable from Above Food recognized during the first half of 2025, partially offset by the $4.0 million gain on the sale of RS durum wheat patents to Corteva that occurred during the second quarter of 2024. Conference Call In light of the ongoing transaction with Roosevelt Resources and the recently filed Registration Statement (initially filed with the SEC on February 14, 2025, and amended July 31, 2025), the company will not hold a conference call to discuss second quarter results. About Arcadia Biosciences, Inc. Since 2002, Arcadia Biosciences (Nasdaq: RKDA) has been innovating high-value, healthy ingredients to meet consumer demands for healthier choices. With its roots in agricultural innovation, Arcadia cultivates next-generation wellness products. For more information, visit www.arcadiabio.com. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the company and its products, including statements relating to the company’s growth, cash position, operating costs, financial performance, commercialization of products, strategic transactions, our ability to obtain sufficient funding required to continue our operations and planned activities, our ability to obtain the stockholder approvals required to complete the proposed business combination transaction with Roosevelt and to satisfy the closing conditions contained in the agreements relating to the transaction, the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the proposed business combination transaction, and the anticipated timing of the closing of the proposed business combination transaction with Roosevelt Resources. 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, the risks set forth in filings that the company makes with the Securities and Exchange Commission from time to time, including in Arcadia’s Annual Report on Form 10-K for the year ended December 31, 2024 as amended, the registration statement on Form S-4 initially filed with the SEC on February 14, 2025 and amended July 31, 2025, and other filings that the company makes with the SEC. These forward-looking statements speak only as of the date hereof, and except as required by law, Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements. No Offer or Solicitation As previously reported on a Report on Form 8-K filed by the company with the SEC, on December 4, 2024, the company, Roosevelt Resources, LP, a Texas limited partnership, and certain other parties entered into a Securities Exchange Agreement (as the same may be amended, the Exchange Agreement) providing for the combination of the two companies in an all-stock transaction. Under the terms of the Exchange Agreement, at the closing of the transactions contemplated by the Exchange Agreement, Arcadia will issue to the partners of Roosevelt shares of Arcadia common stock in exchange for all of the equity interests in Roosevelt. This press release, including the information contained herein, is not intended to and does not constitute (i) a solicitation of a proxy, consent or approval with respect to any securities or in respect of the proposed transaction or (ii) an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, no offer will be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction. Additional Information for Stockholders In connection with the proposed transaction, Arcadia intends to file relevant materials with the SEC and previously filed a Registration Statement on Form S-4 that includes a preliminary proxy statement/prospectus, with the SEC on February 14, 2025, and filed a pre-effective amendment to the Registration Statement on July 31, 2025. After the Registration Statement is declared effective by the SEC, Arcadia intends to mail a definitive proxy statement/prospectus to the stockholders of Arcadia relating to a meeting of stockholders to consider matters relating to the proposed transaction and other matters. This press release is not a substitute for the proxy statement/ prospectus or the Registration Statement or for any other document that Arcadia may file with the SEC and send to Arcadia’s stockholders in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF ARCADIA ARE URGED TO CAREFULLY AND THOROUGHLY READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY ARCADIA WITH THE SEC, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ARCADIA, ROOSEVELT, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS. Investors will be able to obtain free copies of the Registration Statement and proxy statement/prospectus, as each may be amended from time to time, and other relevant documents filed by Arcadia with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Arcadia will be available free of charge from Arcadia’s website at www.arcadiabio.com under the “Investors” tab. In addition, investors and stockholders should note that Arcadia communicates with investors and the public using its website. Stockholders are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transactions. Participants in the Proxy Solicitation Arcadia, Roosevelt and their respective directors, partners and certain of their officers and other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from Arcadia’s stockholders in connection with the proposed transactions. Information regarding the officers and directors of Arcadia is included in Arcadia’s most recent Annual Report on Form 10-K, as amended, filed with the SEC, including any information incorporated therein by reference, its definitive proxy statement for its 2024 annual meeting filed with the SEC on May 16, 2024, and in the Registration Statement initially filed with the SEC on February 14, 2025 and as amended July 31, 2025, and any amendments thereto as filed with the SEC. Additional information regarding such persons, as well as information regarding Roosevelt’s directors, managers and officers and other persons who may be deemed participants in the proposed transaction, will be set forth in the Registration Statement and proxy statement/prospectus, and any amendments thereto, and other materials, when they are filed with the SEC in connection with the proposed transaction. Free copies of these documents may be obtained from the sources indicated above. Arcadia Biosciences Contact: T.J. Schaefer [email protected]

Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Zola coconut water sales increased by 90% year over year, driven by a 70% increase in new distribution. Arcadia Biosciences Inc (NASDAQ:RKDA) achieved a 16% reduction in operating expenses year over year. The company successfully monetized its intellectual property, receiving $750,000 in cash and eliminating a $1 million contingent liability. Arcadia Biosciences Inc (NASDAQ:RKDA) maintained gross margins above 30% for nine consecutive quarters. The pending business combination with Roosevelt Resources is progressing and expected to be completed by the end of the summer. Gross margin rate decreased from 52% in Q1 2024 to 43% in Q1 2025. The timeline for launching new product innovations has been delayed due to the pending business combination with Roosevelt. Total cash decreased from $4.2 million at the start of the year to $3.2 million by the end of Q1. The process for the business combination with Roosevelt Resources is taking longer than anticipated. Arcadia Biosciences Inc (NASDAQ:RKDA) no longer expects to receive any license or royalty fees from its wheat-related intellectual property. Warning! GuruFocus has detected 5 Warning Signs with RKDA. Q: Can you quantify the successes in expanding the Zola distribution pipeline and discuss the potential for further expansion this year? A: TJ Schaeffer, CEO: The pipeline is about half of our current distribution, approximately 3,500 stores. We've added new accounts and distributors, but these are not yet reflected in our reported numbers. Q: Will the new accounts and distribution successes impact the 2025 financials, or is it more of a 2026 event? A: TJ Schaeffer, CEO: Most of the awards we are looking towards will impact 2025, although there is typically a delay before products hit the shelves. Q: Regarding the remaining legacy ag biotech patent, is there any commercial value, or is it similar to the patent returned from Bioseries? A: TJ Schaeffer, CEO: There is potential commercial value, but not for Arcadia. It is licensed to a third party, and we are exploring options to allow them to commercialize while alleviating us of future liabilities. Q: Do you expect to receive the $2.5 million initial payment for the note receivable within the second quarter? A: Mark Kawakami, CFO: Yes, it is scheduled for receipt in Q2. Q: What is the impact of the 10% baseline tariff on your financial results? A: TJ Schaeffer, CEO: We expect little to no impact on Q2 results due to identified cost savings opportunities that offset the tariff's impact. We have developed mitigation plans if needed. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.

-- Revenues increase 22% year over year driven by 90% growth in Zola® -- -- Arcadia sells patents for $750K and eliminates $1M in liabilities -- -- Roosevelt agreement amended to provide greater certainty regarding exchange ratio -- DALLAS, May 08, 2025 (GLOBE NEWSWIRE) -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative, plant-based health and wellness products, today released its financial and business results for the first quarter of 2025. The company has scheduled a conference call at 2:00 p.m. Eastern time (11:00 a.m. Pacific time) to discuss first-quarter results and key strategic achievements. “The momentum we experienced in the second half of 2024 has continued into 2025, and we are very pleased with our first quarter results,” said T.J. Schaefer, CEO of Arcadia. “Zola® coconut water continues to thrive and significantly outperform the category, with sales increasing 90% and distribution growing 70% year-over-year. Our gross margins have now exceeded 30% for nine straight quarters, and our operating expenses are near their lowest level in 10 years, even with half a million dollars in transaction fees. “In addition to our strong brand performance, we also made significant progress exiting our legacy business by monetizing our intellectual property, selling select patents for $750,000, eliminating $1 million in liabilities, and streamlining operations ahead of the pending business combination with Roosevelt Resources. “Our business combination with Roosevelt continues to move forward. We recently amended our exchange agreement with Roosevelt to establish a fixed equity share ratio of 90%/10% between the Roosevelt partners and Arcadia stockholders, respectively, providing a greater level of ownership certainty post-transaction for Arcadia’s stockholders,” Schaefer stated. “The amendment also extends the anticipated timeline for the exchange transaction, which we believe is on track to be completed towards the end of the summer, subject to approval by the company's stockholders.” Certain previously reported financial information has been reclassified to conform to the current year presentation. Reclassifications are related to the presentation of the financial results of our former GoodWheatTM brand as discontinued operations. The financial information above and narrative that follows relate to continuing operations unless stated otherwise. More detailed financial information is included in the company's Report on Form 8-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC), available in the Investors section of the company’s website under SEC Filings. Revenues Revenues increased $213,000, or 22%, and consisted entirely of Zola coconut water sales during the first quarter of 2025 compared to the same period in 2024. Zola revenues increased $567,000, or 90% during the first quarter of 2025 compared to the same period in 2024. This was primarily driven by an increase in distribution resulting in higher sales volume. The company did not implement any price increases during 2024 or the first quarter of 2025. Revenues during the first quarter of 2024 included $354,000 from GLA oil. Operating Expenses Operating expenses decreased $1.9 million during the first quarter of 2025 compared to the same period in 2024, primarily driven by decreases in selling, general and administrative expenses (SG&A) and other operating expenses, offset by an increase in cost of revenues. Cost of revenues increased by $211,000, or 45%, and consisted entirely of Zola coconut water costs during the first quarter of 2025 compared to the same period in 2024. Zola cost of revenues increased $244,000, or 56% during the first quarter of 2025 compared to the same period in 2024 driven by the increase in Zola unit sales. Cost of revenues during the first quarter of 2024 included $33,000 from GLA oil. SG&A decreased by $324,000, or 16%, during the first quarter of 2025 compared to the same period in 2024 driven by operating costs and employee related costs in 2024 that were absent in 2025. Other operating expenses decreased by $1.9 million during the first quarter of 2025 compared to the same period in 2024 due to the $750,000 gain on sale of our reduced gluten and oxidative stability patent portfolios in March 2025, and $1.0 million gain related to the change in fair value of contingent consideration liability. Net Loss Attributable to Common Stockholders Net income attributable to common stockholders for the first quarter of 2025 was $2.6 million, or $1.90 per share, a $5.0 million improvement from the $2.4 million net loss, or $1.78 per share, net loss for the first quarter of 2024. The improvement in net income attributable to common stockholders for the first quarter of 2025 compared to the same period in 2024 was primarily driven by the $750,000 gain on sale of our reduced gluten and oxidative stability patent portfolios in March 2025, $1.0 million gain related to the change in fair value of contingent consideration liability, and the $1.9 million gain related to the change in fair value of common stock warrant and option liabilities. Conference Call and Webcast The company has scheduled a conference call for 2:00 p.m. Eastern time (11:00 a.m. Pacific time) to discuss first-quarter results and key strategic achievements. Interested participants can join the conference call using the following options: An audio-only webcast of the conference call will be available, with a link posted in the Investors section of Arcadia’s website at www.arcadiabio.com. To join the live call, please register here, and a dial-in number and unique PIN will be provided. Following completion of the call, a recorded replay will be available in the Investors Section of the company’s website. About Arcadia Biosciences, Inc. Since 2002, Arcadia Biosciences (Nasdaq: RKDA) has been innovating high-value, healthy ingredients to meet consumer demands for healthier choices. With its roots in agricultural innovation, Arcadia cultivates next-generation wellness products. For more information, visit www.arcadiabio.com. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the company and its products, including statements relating to the company’s growth, cash position, operating costs, financial performance, commercialization of products, strategic transactions and expected business combination transaction with Roosevelt Resources. 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, the risks set forth in filings that the company makes with the Securities and Exchange Commission from time to time, including in Arcadia’s Annual Report on Form 10-K for the year ended December 31, 2024, registration statement on Form S-4 initially filed with the SEC on February 14, 2025, and other filings. These forward-looking statements speak only as of the date hereof, and except as required by law, Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements. No Offer or Solicitation As previously reported on a Report on Form 8-K filed by the company with the SEC, on December 4, 2024, the company, Roosevelt Resources, LP, a Texas limited partnership (Roosevelt), and certain other parties entered into a Securities Exchange Agreement (Exchange Agreement) providing for the combination of the two companies in an all-stock transaction. Under the terms of the Exchange Agreement, at the closing of the transactions contemplated by the Exchange Agreement, Arcadia will issue to the partners of Roosevelt shares of Arcadia common stock in exchange for all of the equity interests in Roosevelt. This press release, including the information contained herein, is not intended to and does not constitute (i) a solicitation of a proxy, consent or approval with respect to any securities or in respect of the proposed transaction or (ii) an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, no offer will be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction. Additional Information for Stockholders In connection with the proposed transaction, Arcadia intends to file relevant materials with the SEC and previously filed a Registration Statement on Form S-4 (Registration Statement) that includes a preliminary proxy statement/prospectus, with the SEC on February 14, 2025. After the Registration Statement is declared effective by the SEC, Arcadia intends to mail a definitive proxy statement/prospectus to the stockholders of Arcadia. This press release is not a substitute for the proxy statement/ prospectus or the Registration Statement or for any other document that Arcadia may file with the SEC and send to Arcadia’s stockholders in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF ARCADIA ARE URGED TO CAREFULLY AND THOROUGHLY READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY ARCADIA WITH THE SEC, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ARCADIA, ROOSEVELT, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS. Investors will be able to obtain free copies of the Registration Statement and proxy statement/prospectus, as each may be amended from time to time, and other relevant documents filed by Arcadia with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Arcadia will be available free of charge from Arcadia’s website at www.arcadiabiosciences.com under the “Investors” tab. In addition, investors and stockholders should note that Arcadia communicates with investors and the public using its website (www.arcadiabio.com) where anyone will be able to obtain free copies of the proxy statement/prospectus and other documents filed by Arcadia with the SEC. Stockholders are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transactions. Participants in the Proxy Solicitation Arcadia, Roosevelt and their respective directors, partners and certain of their officers and other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from Arcadia’s stockholders in connection with the proposed transactions. Information regarding the officers and directors of Arcadia is included in Arcadia’s most recent Annual Report on Form 10-K, as amended, filed with the SEC, including any information incorporated therein by reference, its definitive proxy statement for its 2024 annual meeting filed with the SEC on May 16, 2024, and in the Registration Statement initially filed with the SEC on February 14, 2025, and any amendments thereto as filed with the SEC. Additional information regarding such persons, as well as information regarding Roosevelt’s directors, managers and officers and other persons who may be deemed participants in the proposed transaction, will be set forth in the Registration Statement and proxy statement/prospectus, and any amendments thereto, and other materials, when they are filed with the SEC in connection with the proposed transaction. Free copies of these documents may be obtained from the sources indicated above. Arcadia Biosciences Contact: T.J. Schaefer [email protected]