New distribution underscores Local Bounti's customer-centric approach and commercial momentum

Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it has received a two-year award from a large multinational retailer (the "Retailer") to supply Local Bounti's living butter lettuce product to 13 of the Retailer's distribution centers from Local Bounti's California and new Texas facilities. This award underscores Local Bounti's commitment to providing high-quality, fresh produce to consumers nationwide.

"This new award with a large multinational retailer is a prime example of the demand for fresh, sustainable, locally grown produce and the unmet need for capacity that we are addressing with our expanded footprint across the southern U.S.," commented Craig Hurlbert, CEO of Local Bounti. "By methodically aligning our capacity with specific customer demand, we are able to offer unique and high-quality products that differentiate us in the market. Importantly, this award is the direct result of our customer-centric approach, ensuring that every capacity decision we make directly connects to and supports our retail partners' needs."

This award is a direct result of the strategic discussions the Company has been having with new and existing customers. By working closely with retail partners, Local Bounti ensures that each facility is optimized for specific products that meet customer distribution plans. This approach is allowing the Company to maximize synergies across its growing footprint and customer network, driving performance and accelerating the path to positive adjusted EBITDA1, which is anticipated to occur during the second quarter of 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.