Exhibit 99.2 The Future of Breeding™ C h a n g i n g t h e S c a l e o f Tr a i t D e v e l o p m e n t Pr o p o s e d N A S DA Q T i c ke r : C B U S A p r i l 2 0 2 3
The Market Opportunity Addressing the Crisis in Farming Productivity
Breeding is How Seed Co’s Develop Traits The Industry: Seed Co’s Develop Traits and Charge Trait Fees for Productivity Gains. A Seed Company’s Success depends on it continually Improving Its Traits. Conventional Breeding Has Severe Scale & Time Limitations 3
Gene Editing Changes the Scale High Throughput Gene Editing Systems that Operate as an Extension of Conventional Breeding Trait Development in a Fraction of the Time of Conventional Breeding “Nature Identical” Traits Traits from Trait Machine that Cibus are conventional breeding like. Bio-Mfg. Standards Pharma Standard Quality Control & Assurance. High Throughput Gene Editing System “Timebound, Predictable & Reproducible Breeding System. RTDS 4
Addresses the Pressing Need From Climate Change Crisis due to Rapidly Changing Environment for Diseases, Pests & Resources Billions of Acres Globally Being Impacted by Common Global Challenges Gene Editing is Virtually the Only Tool that Can Address Climate Challenges at Scale 5
Leader in Gene Editing in Agriculture Overview
Key Management Team Greg Gocal, PhD Rory Riggs Peter Beetham, PhD CHIEF SCIENTIFIC OFFICER CHIEF EXECUTIVE CHIEF OPERATING OFFICER EXECUTIVE VICE PRESIDENT OFFICER PRESIDENT CHAIRMAN CO-FOUNDER CO-FOUNDER CO-FOUNDER Noel Sauer, PhD Wade King, MD Rosa Cheuk Kim, JD SENIOR VICE PRESIDENT CHIEF FINANCIAL SENIOR VICE PRESIDENT HEAD OF R&D OFFICER LEGAL 7 7 7
Cibus, Calyxt Merger Brings Together Pioneers See: Cibus.com for Announcement & Details https://www.Cibus.com/press-release.php Merger Combines Key Technologies in Ag. Gene Editing Productivity Traits Sustainable Ingredients Gene Edited Plants Plants, Microorganisms Oil Seeds Cereals Yarrowia Plant Cell Matrix (Both) (Both) (Cibus) (Calyxt) 8
The Future of Breeding™ Background FOUNDED EMPLOYEES 2001 ~200 Products & Technology HEADQUARTERS San Diego, CA Products 1) Productivity Traits Commercial Progress Productivity traits that make crops more adaptable to the environment, have - Pipeline of 6 Productivity Traits increased yields or require less chemicals. st - In Q1 2023 Shipped 1 Traits to 2) Sustainable Ingredients Customers for Commercialization Renewable products or materials that st that don’t negatively impact the environment - Completing 1 Gene Editing during production, use, or disposal. Production Facility - Collaboration with P&G for Technology Sustainable Ingredients Non-GMO* Gene Editing OVER 400 ISSUED OR PENDING PATENTS *See Slide 11. 9 9
Technology & Business RTDS®/Trait Machine™ - Revolutionary Breeding Platform Business Model - Tech. Extension of Conventional Breeding/Trait Development 10
RTDS/Trait Machine: Proprietary, Non-GMO High Throughput Gene Editing System that Operates as an Extension of Conventional Breeding Trait Development in a Fraction of the Time! Gene Editing Trait Technology GMO Trait Technology Direct Editing without Genetic Modification Integrating Foreign DNA/Transgene Integrating Foreign DNA/Transgene Note: The above charts show the difference between GMO Trait Technology and RTDS’s trait technology. These differences are central to a global regulatory movement to regulate Gene Editing similarly to traditional breeding. In the US, South America and certain key markets, RTDS technology is separated from GMO regulations and instead, regulated similarly to conventional breeding.
Positive Regulatory Momentum Global Movement to Approve Gene Editing Similar to Conventional Breeding The Driving Force is the Climate The EU is a Key Driver - The European Union has announced that in Q2 2023, they will release their proposals for new gene editing regulations. - EU represents > 100 MM acres 12
Trait Machine Represents a Step Change in Breeding This is the Future of Breeding! 1– Prototyping Runs: Accelerates Development & Proof of Concept 2– Production Runs: Accelerates Speed to Market. Trait Machine Trait Machine directly Once a trait is developed, Trait Machine accelerates accelerates prototyping or edits a customer’s time to commercialization. testing of different traits. elite germplasm. 13
Business Model: Traditional Trait Distribution Model: Traits Distributed in Seeds by Seed Co’s Seed Co’s Pay Royalties to Cibus for IP Related to Traits WHO TURN TO TURN TO Farmers Seed Companies Plant Trait Developers Challenged by the impacts of Seed germplasm & crop specific Develop productivity traits and Environment & Climate change productivity traits drive crop license Trait IP to Seed Co’s. performance and competition. Seed Co’s pay Trait Co’s Royalties Farmers pay Seed Co’s trait fees for IP associated with Traits within total cost charged for seed. and/or germplasms. 14 14
Royalty Revenue Model Industry: Long History of Trait Licensing & Royalty Payments Royalties (Trait Fees) based on “Value Per Acre” Trait Fees NA & SA Trait Market $2.1B Soybean ➢ Accessible Acres ~400 MM $1.0B ➢ Trait Fee Acres Cotton Major Crops 2020 Est. > 300 MM Trait Fees (NA & SA) $0.4B ➢ Avg. Trait Fee/Acre by Crop Canola $10-$15/Acre Current Market (Weeds & Insects) ~$8 B ~400 MM Acres $0.2B ➢ Est. 2020 Trait Fees Other > $8 Billion $4.1B Corn (1) Source: Company estimates, BCG, FDA.gov., AgbioInvestor 2021. (2) 2020 Traits fees are predominantly for GMO-based traits in North & South America 15 15 Note: See slide 25 regarding data assumptions in this presentation. 15 Trait Fee Pricing is based on Trait Specific Economics
Cibus Pipeline 16
Cibus has Developed a Broad Initial Trait Pipeline Cibus Pipeline Indicative of Productivity Advantage of RTDS Addressable TRAIT ACRES for Canola, Rice, Soybean 6 Traits: 4 of the 6 Apply to Multiple Crops ~250 MM Acres Note: Slide 25 for data sources & assumptions. Acres based on Canola, Rice, Soybean in N.A.,S.A., EU Trait Fees or Royalties Are Per Acre Estimates 17 17 17
Initial Commercial Model Initial Trait Machine Platforms: Canola, Rice & Soybean First Traits in Canola & Rice have Transferred to Customers Addressable Acres: ~250 MM* Canola Rice Soybean MM MM MM TAM: TAM: 46 ACRES 11 ACRES TAM: 190 ACRES Soybean Traits Traits Traits 5 3 4 Lead Customer: Nuseed Lead Customer: Nutrien Lead Customer: GDM Traits Fees (est.) Traits Fees (est.) Traits Fees (est.) ~$5-$15 ~$5-$15 ~$10-$30 Note: Trait Fees or Royalties Are Per Acre Estimates . Acres based on Canola, Rice, Soybean in N.A.,S.A., EU 18
st Lead 1 Trait: PSR: Pod Shatter Reduction - Canola/WOSR Initial Trait Acres ~15 MM POD Shatter Reduction Commercial Progress: Developed & Transferring Sheaths or pods shatter in rain/high winds, causing yield losses of 10% or more. Customers 10 PSR reduces pod shatter . Est. Acres for and associated seed losses ~15 MM Initial Customers Est. Trait Fees $5-$10 Strengthens sheath 1st Transfers Q1 2023 PSR: That holds oil seeds. Note: Slide 25 for data sources & assumptions. Acres based on Canola, Rice, Soybean in N.A.,S.A., EU Trait Fees or Royalties Are Per Acre Estimates 19 19 Photo credit to the Canola Council of Canada
st Our 1 Blockbuster Trait Sclerotinia White Mold Resistance - Canola, Soybean Est. Trait Fees Acres ~80 MM, Exp. Royalties > $500 Million Major Crops Canola/ Soybean Sclerotinia Resistance Sclerotinia WOSR Resistance Builds plant’s defense mechanisms Est. Trait to prevent Sclerotinia from infecting ~30 MM ~50 MM Fee Acres and colonizing Soybean, Canola or Winter Oilseed Rape plants. ~$5-$10 Est. Trait Fee ~$5-$10 . Direct benefit from improved yields, reducing fungicide cost Molecular Confirmation Yes Yes and their applications. Green House Confirmation 2023 NA 2024 NA Field Validation (Est.) Note: Slide 25 for data sources & assumptions. Acres based on Canola, Rice, Soybean in N.A.,S.A., EU Trait Fees or Royalties Are Per Acre Estimates 20 20 Photo credit to the Canola Council of Canada
Corn & Wheat Platforms Soon Timeline: Wheat Trait Machine Platform Expected by Yearend 2024, Corn Platform Expected by Yearend 2025 Addressable TRAIT ACRES Two Cibus Multi-Crop Traits Applicable to Corn and Wheat for All 5 Major Crops * Acres based on Corn and Wheat in N.A..,S.A., EU ~530 MM Acres Note: See slide 25 for data sources & assumptions. Acres based on Canola, Rice, Soybean in N.A.,S.A., EU Trait Fees or Royalties Are Per Acre Estimates 21 21 21
Our Focus: Multi-Crop Blockbusters ➢ Traits that Address >100 MM Acres - Massive Impact of Global Farming Productivity ➢ Expected Traits Royalties: $5 to $15 - Massive Economic Opportunity Target Areas Sustainable Ingredients Resistance Traits Efficiency Traits PLANT OUTPUTS CLIMATE CHANGE Renewable products that don’t Addressing the impacts of climate negatively impact the environment such as drought & weather during production, use, or disposal. NUTRIENT PROCESSING Able to better process available nutrients. Reduces fertilizer needs. PROCESS OUTPUTS Replacing inputs or process materials AGRONOMY that negatively impact the environment. Physiological traits that improve yields and farmability 22 22
Building Blocks: Blockbuster Crop Platforms Trait Machine Enables Stacking Multiple Traits in a Specific Crop With Multiple Stacked Traits, Individual Crops can be Blockbusters . st Canola is Cibus’ 1 Crop Platform, Royalty Potential > $1B Est. Cibus Trait Acres Est. Trait Royalty Pod Shatter (PSR) 25 MM $5-$10/Acre Sclerotinia Resistance 30 MM $5-$10/Acre Herbicide Tolerance #2 20 MM $5-$10/Acre Canola Herbicide Tolerance #1 15 MM $5-$10/Acre OSR ~46 MM Acres Nutrient Use Efficiency 46 MM $10-$15/Acre Note: Slide 25 for data sources & assumptions. Sclerotinia, HT#2, HT#1 & NUE (in dark gray) are Multi-Crop Traits Acres based on Canola in N.A., Europe Photo credit to the Canola Council of Canada 23 23 23
Business Strategy: ➢ Build Crop Specific Trait Machine Platforms for all 5 Major Crops ➢ Build a Family of Blockbusters Directed at Farming Productivity/Sustainability Trait Fees $2.1B Soybean The Underlying Scale of Traits Major Crops $1.0B NA&SA ➢ Major Traits are Applicable Cotton ~400 MM Acres 2020 Est. to and Across Multiple Crops (Note: EU Approval will Trait Fees $0.4B ➢ Trait Royalties are Paid for Each add ~100 mm acres) by Crop Canola Trait for its Specific Economics ~$8 B $0.2B ➢ Est. 2020 Trait Fees Across Other Multiple Crops: ~ $8 Billion See slide 25 regarding data assumptions in this presentation. $4.1B rd Current 3 party trait market is primarily GMO traits. Corn (1) Source: Company estimates, BCG, FDA.gov., AgbioInvestor 2021. (2) 2020 Traits fees are predominantly for GMO-based traits in North & South America * See slide 21 regarding data assumptions in this presentation. 24 24 Trait Fee Pricing is based on Trait Specific Economics 24
Disclaimer Securities Law Matters Acreage Data This presentation has been prepared by Cibus Global, LLC (the Company ), and the Company This presentation has 2 available acreage calculations: TAM-Total Accessible Acres and Trait is responsible for its contents. It shall not constitute an offer, nor a solicitation of an offer, of Fees Acres. These are based on the company’s estimate of total hybrid acres available in: the sale or purchase of securities, nor shall any securities of the Company be offered or sold, North America, South America & Europe for each crop. European acres are not currently in any jurisdiction in which such an offer, solicitation or sale would be unlawful. Neither the accessible. These acres depend on a favorable outcome of the current EU Parliamentary Securities and Exchange Commission nor any state securities commission has approved or process. They are shown to show the potential increase in available acres if the EU were to disapproved of the transactions contemplated hereby or determined if this presentation is pass the proposed legislation. The EU is expected to address these changes in 2023. truthful or complete. Any representation to the contrary is a criminal offense. Intellectual Property “Cibus,” “RTDS,” “Rapid Trait Development System,” “FALCO,” “SU Canola,” “Nucelis,” “ASAP,” Forward Looking Statements “A Different Breed,” “Trait Machine,” “Inspired by Nature,” “Driving Sustainable Agriculture,” This presentation contains forward-looking statements that involve risks and uncertainties. “Reshaping Crop Protection,” “Reinventing Trait Development”, “Timebound & Predictable”, These forward-looking statements relate to, among other things, the expected timetable for “Driving Trait & Breeding Innovation”, “Future of Breeding”, the Cibus logo and other development of certain crop traits and our future financial performance, including our trademarks or service marks of Cibus appearing in this presentation are the property of Cibus. operations, economic performance, financial condition, prospects and other future events. Trade names, trademarks and service marks of other companies that appear are the property These forward-looking statements are only predictions and are largely based on our current of their respective holders and do not imply a relationship with, or endorsement or expectations. These forward-looking statements appear in a number of places in this sponsorship of us, by these other companies. Solely for convenience, trademarks and trade Presentation. In addition, a number of known and unknown risks, uncertainties and other names in this presentation appear without the ™ and ® symbols, but any such failure to factors could affect the accuracy of these statements. These risks may cause our actual results, appear should not be construed as indicating that their respective owners will not assert their levels of performance or achievements to differ materially from any future results, levels of rights with respect thereto. Cibus has over 400 patents issued or filed. activity, performance or achievements expressed or implied by these forward- looking statements. Company Data & Projections Industry and Market Data 1. Developed means validated field trials (Canola PSR, rice HT1, HT3); Advanced development Information about market and industry statistics contained in this presentation is included means editing process underway with known edit targets. Beginning Development means based on information available to the Company that it believes is accurate in all material early stage of initial edits. respects. It is generally based on academic and other publications that are not produced for 2. TAM, Addressable Markets and Trait Fee Acres company estimates based on industry sources. purposes of securities offerings or economic analysis. The Company has not reviewed or There can be no assurance that Trait Fee Acres can be achieved. included data from all sources, and the Company cannot assure potential investors of the 3. Trait Machine Platforms are operational in canola and rice. Soybean is expected to be accuracy or completeness of the data included in this presentation. Forecasts and other operational in H2 2023. forward-looking information obtained from these sources, including estimates of future market size, revenue and market acceptance of products and services, are subject to the same 4. Est. Royalties are calculation of Trait Fee Acres times expected Trait Fee qualifications and the additional uncertainties accompanying any forward-looking statements. rd 3 Party Data 1. Trait Fee information are 2020 estimates based on data from Agbioinvestor, US Gov., BCG and 3rd party consultants. Traits are predominantly GMO traits. 2. Corteva, 2018 Trait Royalties are from Corteva public disclosure. 25 25