Mr. Philip Linton reports

DEVERON ANNOUNCES IMPLEMENTATION OF COST OPTIMIZATION PROGRAM

Deveron Corp. has implemented another phase of its cost optimization program. In a continued effort to prioritize profitable fertility-related field services execution and focus, Deveron has implemented $1.5-million in cost savings mainly through the reduction of field staff and ancillary support costs within the company's carbon business unit. The company expects to achieve annual run rate savings totalling approximately $2.4-million when combined with the previous $900,000 of cost synergies announced on Nov. 21, 2023.

"Over the previous 24 months, we expanded our field teams to serve the carbon fieldwork volumes that our customers forecasted," commented David MacMillan, Deveron's president and chief executive officer. "We have been early leaders in non-traditional agriculture soil testing products, but now we have refocused our resources to better match our capacity with volumes. With these cost adjustments, the company has better aligned its network capacity with profitable service regions and its core fertility business. With a focused strategy to build an integrated service offering for our customers, we believe there will be many further opportunities to deliver increasing soil volumes to the labs, creating significant operating leverage for the business ahead."

About Deveron Ltd.

Deveron is an agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes. The company employs a digital process that leverages data collected on farms across North America to drive unbiased interpretation of production decisions, ultimately recommending how to optimize input use. The company's team of agronomists and data scientists build products that recommend ways to better manage fertilizer, seed, fungicide and other farm inputs. Additionally, Deveron has a national network of data technicians who are deployed to collect various types of farm data, from soil to drone, that build a basis of the company's best-in-class data layers. Deveron's focus is the United States and Canada, where one billion acres of farmland are actively farmed annually.

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