Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 3

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 3
---
 million (approximately $0.6 million).

In July 2022, Canonic received the Israeli Ministry of Economy
approval to be included in “ Smart money” grants program for marketing operations in Germany. The maximum grant amount from
this program is approximately $85 thousand. Canonic undertook to pay royalties of 3% of yearly revenues above approximately $284 thousand
derived from the operation in Germany, up to 100% of the grants received. As of December 31, 2024, Canonic received approximately $42
thousand for marketing expenses in Germany. Since Canonic has ceased its activities during the first half of 2024 and no economic benefits
are expected from the marketing operations in Germany, the grant receipts were recognized as a reduction of the related marketing expenses
during 2024.

In February 2024, Lavie Bio received the Israeli Ministry of Economy
approval to be included in the “ Smart money” grant program for initial exporting in Canada. The maximum grant amount from
this program is approximately $83 thousand. Lavie Bio undertook to pay royalties of 3% of yearly revenues above approximately $276 thousand
derived from the operation in Canada, up to 100% of the grants received (linked to The Consumer Price Index) and can choose to apply the
program retroactively from August 2023. As of December 31, 2024, Lavie Bio received approximately $78 thousand for marketing expenses
in Canada incurred until December 31, 2024.

In 2020, AgPlenus obtained IIA approval to receive a grant
for its first-year program for development of novel herbicides. The total approved budget was NIS 3.1 million (approximately $1.0
million).

We entered into agreements with certain of our Israeli subsidiaries
in the framework of which they were granted permission to use our technology and related know how, which was funded by the IIA. Evogene
remains responsible to the IIA for the obligations regarding such IIA funding.

BIRD Grants

We have received two BIRD grants, covering the following programs:
(i) a joint development program with DuPont-Pioneer (now Corteva) of research and development improvements to soybean rust resistance,
which the Company has repaid in full; and (ii) a joint research and development program with Marrone Bio Innovations, or MBI, for discovery
of novel modes of biological action for insect control, which the Company has decided to withdraw from.

Under the