Steakholder Foods Shares Letter from CEO Arik Kaufman

Core Insights - Steakholder Foods Ltd. has made significant progress in its commercialization strategy, securing purchase orders for its SH™ product lines, which are expected to establish recurring revenue streams in the near term [2][10] - The company received notable recognition at the Plant-Based World Expo in London, winning three prestigious awards for its products, which validates its technology and market position [3][6] - Strategic partnerships have been formed to enhance market presence, particularly in the U.S., with a focus on tailored product development and building a robust supply chain [4][8] Commercial Progress - The company secured its first purchase order from Bondor Foods for SH™ – Fish premix blends and from Wyler Farm for SH™ – Beef premix blend, leading to the launch of the "Whaat Meat?! by Steakholder" product line [2] - These agreements are crucial for establishing recurring revenue streams, anticipated to materialize soon [2] Market Validation - Steakholder Foods received three awards at the Plant-Based World Expo, including a Gold Award for its Salmon Patty, a Silver Award for its Fish Kebab, and a Bronze Award for its Beef Alternative, showcasing the market validation of its products [3][6] Infrastructure Development - The company opened its first full-scale Demonstration Center, showcasing its MX200 and HD144 printers, allowing potential partners to experience its technology firsthand [3] Strategic Partnerships - The company has strengthened its global presence through partnerships, including a collaboration with UMAMI Bioworks in Singapore for cultivated seafood development and an agreement with Vegefarm Co. Ltd. in Taiwan for 3D printing technology [7] - A U.S. market entry initiative has been launched, led by Saar Bracha, focusing on establishing partnerships with food manufacturers and distributors [4][8] Financial Management - The company maintains a disciplined approach to financial management while investing in strategic growth initiatives, positioning itself to generate revenue as partnerships mature [10] Looking Ahead - Despite challenges in 2024, the company is focused on growth in 2025, with expectations that current partnerships will begin generating revenue soon [11]