Announcement PDF RNS Number : 3830I BSF Enterprise PLC 16 June 2026 16 June 2026 BSF Enterprise PLC Paris Auction Operational Update & Platform Strategic Progress BSF Enterprise PLC (LSE: BSFA; OTCQB: BSFAF), a biotech platform company driving an industrial bio- sustainable future through its advanced tissue engineering subsidiaries, provides an operational update and commercial clarification following the public auction of the world's first T-Rex Leather™ handbag at the Hôtel Drouot auction house in Paris. Key Highlights: ● Proof of Structural Capability: The fabrication and craftsmanship of the Enfin Levé T-Rex Leather™ handbag successfully validated the structural integrity and physical performance of the Company's proprietary Advanced Tissue Engineering Platform (ATEP™). ● Transition to Private Sale: Public bidding reached €150,000, falling short of the historical reserve price. The piece has been withdrawn from public auction and is transitioning to a private sale process targeting parties that expressed interest at the auction, institutional collectors, museums, and high-net- worth individuals. ● Acceleration of Tier-1 Commercial Dialogues: The high global visibility of the Paris exhibition has generated an acceleration of inbound interest from multi-billion-dollar enterprise partners, specifically across global automotive interiors and premium performance sportswear brands evaluating material integration. ● Diversified Revenue Streams Unaffected: The core value of BSF remains heavily insulated by parallel commercial trajectories across cell culture media additives (City-Mix™ and CytoBoost™ sales pipelines) and imminent advanced medtech clinical corneal repair milestones (Kerato Ltd). A System Validation, Not an End-Consumer Asset The Board notes that recent market sentiment surrounding the public auction has conflated a specialised, museum-grade technical demonstration with the Company's broader commercial output. The primary objective of the T-Rex Leather™ project was never to establish BSF as a consumer fashion retailer, but rather to subject our scaffold-free, computational biology platform to the most extreme manufacturing stress- test possible. To successfully construct a high-performance luxury asset requiring deep structural density, complex stitching, and industrial tanning from synthesized, extinct DNA sequences represents total proof-of-concept validation for our engineering biology systems. Commercial Inbound & Platform Scale While public auction bidding closed at €150,000, the visibility generated has significantly de-risked our material science vertical. BSF is currently advancing technical evaluations with major international corporations, including: 1. A Global Sportswear Leader: Steps towards evaluating the performance and branding characteristics of our ATEP™ sheets for next-generation performance footwear applications. 2. A Tier-1 Automotive Manufacturer: Discussing technical feasibility studies on the scalability of our bio-synthetic hide for bespoke, sustainable vehicle upholstery. Crucially, our underlying business model for LGL relies on eventual high-volume industrial supply, licensing agreements, and the sale of automated bioreactor infrastructure to these mass-market verticals, rather than the sale of one artisan luxury accessory. Strong Balance Sheet and Multi-Asset Insulation Supported by our recently announced £1 Million interest-free Convertible Loan Note with Indigo Capital, BSF remains thoroughly funded to scale operations across our three distinct, high-growth subsidiaries without placing reliance on single-product events: ● Lab-Grown Leather (LGL): Capitalising on our newly achieved A4-sized tannable skin milestones and active B2B corporate assessment pipelines. ● 3D Bio-Tissues (3DBT): Scaling commercial supply agreements for our cellular nutrition enhancers (City-Mix™ and CytoBoost™ Revive) with international partners like SeaWith, driving near-term commercial revenue. ● Kerato Limited: Progressing toward veterinary and clinical safety targets for our tissue-engineered corneal repair solutions, capturing a vital footprint in the advanced MedTech space. The Board is confident that our multi-pillar structure limits risk while multiplying value-inflection milestones, ensuring parent PLC shareholders remain exposed to an expansive industrial IP engine rather than a single consumer luxury asset. Dr. Che Connon, CEO of BSF Enterprise, commented: "The Paris auction was a public display of an incredible engineering feat: turning abstract, ancient genetic information into a dense, beautifully structured, physical material via our scaffold-free platform. While the public auction bidding didn't meet our historic reserve, the commercial validation we required has been emphatically achieved. The multi-billion-dollar automotive and footwear giants currently considering our materials aren't interested in buying a handbag at auction; they are interested in licensing the platform architecture that created it. BSF is treating biology as software, and our industrial trajectory remains firmly on track." - ENDS - Engage with the BSF Enterprise management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://bsfenterprise.com/link/yV0Dgr For further enquiries, please visit www.bsfenterprise.com or contact: BSF Enterprise PLC Geoff Baker - Chairman Che Connon - CEO & Director We encourage all investors to share questions on this announcement via our investor website. https://bsfenterprise.com/s/a1f22b Bowsprit Partners John Treacy James Sheehan +44 (0)203 883 4430 ISIN of the Ordinary Shares is GB00BHNBDQ51. SEDOL Code is BHNBDQ5. Subscribe to our news alert service: https://bsfenterprise.com/s/bb9f43 About BSF Enterprise PLC BSF Enterprise PLC (LSE:BSFA) develops and commercialises cutting-edge tissue-engineered solutions, including lab-grown leather (via LGL), cultivated meat, and corneal repair technologies. By leveraging its proprietary scaffold-free ATEP™ platform, BSF delivers sustainable, high-performance alternatives to conventional materials, targeting global markets where provenance, ethics, and performance are increasingly prized by consumers and brands alike. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END UPDVELFFQQLZBBX