• Including UHP-LO soybean meal significantly reduces feed costs while maintaining performance

ST. LOUIS / May 07, 2024 / Business Wire / Benson Hill, Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), an ag tech company unlocking the natural genetic diversity of plants, recently completed a feeding trial with industry leader Perdue Farms to demonstrate the value of incorporating soybean meal derived from Benson Hill’s Ultra-High Protein, Low Oligosaccharide (UHP-LO) soybeans into broiler diets.

Results confirm that the inclusion of UHP-LO soybean meal throughout all phases of broiler production delivered a significant reduction in feed costs while maintaining performance, reflecting the higher protein and metabolizable energy inherent in Benson Hill’s proprietary soybean genetics.

“Our ongoing work with Perdue and other leading poultry producers opens up opportunities for diversifying soy options in animal feed and shows the benefits our seed innovations can deliver,” said Deanie Elsner, Chief Executive Officer of Benson Hill. “These positive results validate more than 20 years of soybean breeding for quality traits, further enhanced by our CropOS^® technology platform, enabling us to offer an innovative soybean meal option to an already established market.”

As previously announced, Benson Hill’s UHP-LO soybean varieties demonstrate novel attributes for animal feed rations, enabling broadacre expansion of Benson Hill’s proprietary soybeans. Previous research identified three key product attributes of UHP-LO soy that uniquely position it for adoption by animal companies, soybean processors, and farmers. These key attributes are higher protein levels, lower anti-nutritional factors, and competitive yields.

“We’re encouraged by these latest results,” said Randy Mitchell, Vice President of Nutrition and Research at Perdue. “We look forward to partnering with Benson Hill to further evaluate this value-added soybean meal derived from their proprietary soybean genetics in our commercial operations.”

“Trial results indicate there is enough value in soybean meal derived from Benson Hill UHP-LO soybeans to drive large-scale adoption by poultry producers,” says Dr. Roy Brister, Ph.D., an independent animal nutrition and strategic poultry advisor with more than four decades of experience in the poultry industry. “Now is the time for the industry to build on this exciting innovation.”

About Benson Hill

Benson Hill moves food forward with the CropOS^® platform, a cutting-edge food innovation engine that combines data science and machine learning with biology and genetics. Benson Hill empowers innovators to unlock nature’s genetic diversity from plant to plate, with the purpose of creating nutritious, great-tasting food and ingredient options that are both widely accessible and sustainable. More information can be found at bensonhill.com or on X, formerly known as Twitter, at @bensonhillinc.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance and may be identified by words such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” or similar words. These forward-looking statements are based upon assumptions made by the Company as of the date hereof and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements include, among other things, statements regarding: the anticipated commercial and nutritional benefits of the Company’s UHP-LO soybean meal, including any expectation that the findings associated with the recent trial can be repeated or improved upon in the future, including in broadacre application; the potential adoption of UHP-LO by poultry producers or other animal companies, soybean processors, or farmers; potential strategic partnership and licensing opportunities; current projections and assumptions regarding the Company’s business and the industries and markets in which the Company currently operates or plans to operate, including the broadacre animal feed market; expectations regarding the Company’s ability to serve a broadacre strategy through partnerships and licensing; and management’s strategy and plans for growth. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: risks associated with the failure to realize the anticipated commercial or nutritional benefits of the Company’s UHP-LO soybeans; risks that the benefits validated by the recent trial may not be able to be repeated or improved upon in the future, including in broadacre application; risks associated with the accuracy and repeatability of feeding trials generally; risks associated with the Company’s ability to generally execute on its business strategy, including its transition to an asset-light business model to serve broadacre animal feed markets in a timely manner with sufficient liquidity; risks relating to acreage acquisition and leveraging a broadacre strategy; risks associated with developing and maintaining successful strategic partnership and licensing relationships in an asset-light business model, and maintaining relationships with customers and suppliers; risks associated with changing industry conditions and consumer preferences; risks associated with the effects of global and regional economic, agricultural, financial and commodities market, political, social and health conditions; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our filings with the SEC, which are available on the SEC’s website at www.sec.gov. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. There may be additional risks about which the Company is presently unaware or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company expressly disclaims any duty to update these forward-looking statements, except as otherwise required by law.