Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 4

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 4
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 MBI BIRD program, the grant for the joint development
will be repaid: (a) from revenues received for the licensing of products developed under the project; (b) from revenues generated from
sales of products developed under the project; (c) from proceeds received from the outright sale of the technology developed under the
project; (d) if we and our partner have concluded the development of a product within the period of development defined under each of
the programs; or (e) if within 60 months from the original grant date we and MBI did not conclude the development of a product but nevertheless
decide to continue the project. In each such case, the repayment will be in an amount of up to 150% of the total grant received, depending
on the timing of the repayment.

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CIIRDF Grant

The CIIRDF grant that we have received was also provided to us
as part of a previous joint project of ours with Saskatchewan Wheat Pool Inc., operating under the name of Viterra, to develop canola
with improved yield and abiotic stress tolerance. This grant will be repaid from income resulting from the commercialization of a product
developed pursuant to the grant project, at a rate of 2.5% of royalties on sales of such product, in an amount up to 100% of the total
grant received. Alternatively, we may repay the grant as royalties of 2.5% of the income we receive from licensing the product developed
pursuant to the grant. Payment of such royalties is not required if commercial revenues are not generated as a result of the project.

EU Grant

In early 2016, a grant application for a consortium for research in photosynthesis in
which we participate within the EU Horizon 2020 Program for Research and Innovation was confirmed. The consortium’s research program
is focused on an innovative approach to modulate photosynthesis related pathways aiming to improve photosynthetic efficiency. Beyond us,
the consortium includes academic institutions such as the Max Planck Institute of Molecular Plant Physiology and the Institute of Terrestrial
Microbiology, the Weizmann Institute of Science, and the Imperial College of Science, Technology and Medicine. Overall, we received a
total amount of €0.9 million for our participation in the consortium during the five-year project. In March 2023, a follow up grant
of a €1.2 million was confirmed by the Horizon EIC 2022 program to support the creation of oil-se