Bion and Kimmeridge sign MOU to explore ammonia recovery at RNG facility; ROFR on 10M shares at premium

BION ENVIRONMENTAL TECHNOLOGIES INC

• MOU with Kimmeridge Energy Management to evaluate JV for Bion's Ammonia Recovery System at a large RNG facility.
• Kimmeridge gets Right of First Refusal to purchase up to 10 million Bion shares at a premium to market price (amount redacted).
• Cost sharing: FEL-1 engineering study split 50-50 (up to $75k total); sample production costs (~$8k/week) covered by Kimmeridge.
• Active development of potential RNG facility could commence in Q2 2026 if JV proceeds.
• MOU non-binding except for cost sharing, ROFR, confidentiality, and IP provisions.