Closed on $10 Million Convertible Note and Amended Credit Facility with $10 Million Principal Debt Reduction

Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it secured $10 million through the issuance of a convertible note with an existing investor. In conjunction with this agreement, the Company also amended its existing credit facility to reduce the principal balance by $10 million.

"We are pleased to have the continued support of our financing partners to fuel our future success," said Kathleen Valiasek, President, CEO, and CFO of Local Bounti. "This additional capital provided by an existing strategic investor, combined with the incremental debt reduction from our amended credit agreement, reinforces our balance sheet, positioning us well for continued operational strength ahead."

The convertible note has a 5-year maturity date from issuance and 6.0% annual interest rate that is payable in kind. As part of the transaction, the Company will issue a warrant to purchase up to 550,000 shares of common stock to the investor, with an exercise price of $0.125 per share. The full terms of the convertible note, warrant and debt reduction are set forth in the Company's Current Report on Form 8-K. The remaining terms of the Company's senior debt facility remain consistent with the restructured agreements entered into on March 31, 2025

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 'revolutionize agriculture, ensuring accessibility to fresh, sustainable, locally grown produce and nourishing communities everywhere for generations to come,' 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.