Local Bounti to Mark Opening of New High-Tech Controlled Environment Agriculture Facility in Mount Pleasant, Texas with Ribbon Cutting Ceremony

-Expected to create approximately 50 jobs in the Mount Pleasant area -Innovative CEA facility combines vertical and greenhouse technologies to grow sustainable produce year-round using less water and land

Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today it will hold a ribbon cutting ceremony on Tuesday, June 18, 2024 from 1:00 to 4:00 pm local time to mark the official opening of its latest state-of-the-art controlled environment agriculture (CEA) facility in Mount Pleasant, Texas. Members of the Company's management team will be joined by industry leaders, local officials, and members of the community at this invitation-only event.


"We are proud to unveil our latest cutting-edge CEA facility in Mount Pleasant, Texas," said Craig Hurlbert, Chief Executive Officer of Local Bounti. "Powered by our innovative and patented Stack & Flow Technology®, this state-of-the-art greenhouse will bolster our rapidly expanding capacity across the U.S. to help meet customer demand in Texas and further support our distribution across the Southern United States. This facility represents another significant milestone for Local Bounti and an opportunity for the local Mount Pleasant economy through job creation. Our commitment to sustainable agriculture and community engagement remains steadfast, and we're excited to make a positive impact in Mount Pleasant and the surrounding region."

The facility is expected to generate approximately 50 jobs throughout the Titus County region and will focus on growing and selling Local Bounti's living green butter lettuce in addition to its greenhouse fresh line of packaged leafy greens. Varieties include spring mix, butter lettuce, romaine crisp, green leaf, and additional blends.

"The City of Mount Pleasant is delighted to welcome Local Bounti to our community," said Nathan Tafoya, Executive Director of the Mount Pleasant Economic Development Corp. "Local Bounti's commitment to being an active part of the local area, generating new jobs, and operating with sustainable and environmentally-friendly practices represents a major investment in Mount Pleasant's future prosperity. We look forward to partnering with Local Bounti as they help drive economic growth and diversification in our city through their innovative agricultural operations."

The Texas facility spans across six acres and began shipping this month. The addition of the new facility fortifies Local Bounti's distribution to directly service local retail distribution centers and provides additional capacity to meet existing demand from the Company's direct relationships with blue-chip retail customers.

Local Bounti's patented Stack & Flow Technology seamlessly blends the advantages of vertical and greenhouse cultivation, setting the stage for a new era in sustainable agriculture. With a focus on maximizing efficiency, the Texas facility boasts significantly higher yields while utilizing less water, land, and pesticides compared to traditional farming methods. This commitment to sustainability aligns with Local Bounti's mission to revolutionize the agricultural landscape and reduce its environmental impact.

About Local Bounti
Local Bounti is redefining indoor farming with an innovative method - its patented Stack & Flow Technology® - that significantly improves crop turns, increases output and improves unit economics. Local Bounti operates advanced indoor growing facilities across the United States, servicing approximately 13,000 retail doors. Local Bounti grows healthy food utilizing a hybrid approach that integrates the best attributes of controlled environment agriculture with natural elements. Local Bounti's sustainable growing methods are better for the planet, using 90% less land and 90% less water than conventional farming methods. With a mission to 'bring our farm to your kitchen in the fewest food miles possible,' Local Bounti's food is fresher, more nutritious, and lasts longer than traditional agriculture. To find out more, visit localbounti.com or follow Local Bounti on LinkedIn for the latest news and developments.

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