Forafric Global lodges LOI to acquire AL NASR

Proposed acquisition would position AL NASR as Forafric Global's industrial defense platform GIBRALTAR--()--October 07, 2026-- Forafric Global PLC (Nasdaq: AFRI) ("Forafric" or the "Company") today announced the execution of a letter of intent ("LOI") for the acquisition of 100% of AL NASR Industries & Systems ("ALIS" or "AL NASR"). AL NASR is a recently established industrial platform in Morocco, dedicated to developing projects in the defense sector. Its portfolio includes minority stakes in two companies that are developing two defense product manufacturing plants in Morocco. Both companies have been granted a license under Moroccan Law No. 10-20, which permits operating in this highly regulated sector. A compelling strategic opportunity The proposed acquisition, when completed, would mark a significant step in Forafric Global's strategy. It would enable the Company to position itself in a strategic industrial sector, in alignment with Morocco's efforts to develop a national defense industry. Proposed transaction terms and next steps -- Scope: Acquisition of 100% of the share capital of AL NASR. -- Expected closing: Q4 2026. AL NASR is controlled by the same ultimate beneficial owner as Forafric Global. The proposed acquisition therefore constitutes a related party transaction. Completion of the transaction remains subject to, among other factors, the completion of due diligence, the negotiation and execution of definitive agreements, and additional approval by the Company's Board of Directors based of the final terms. It is also subject to the receipt of any required regulatory approvals and authorizations. There can be no assurance that negotiations will result in a definitive agreement or that the proposed transaction will be completed. About Forafric Global PLC Forafric Global PLC (Nasdaq: AFRI) is a company in strategic transition, expanding from its food security roots into Defense and Energy. Following the divestment of a majority stake in its historical Moroccan food business, the Company is refocusing its strategy on Defense. In this sector, it is building a portfolio of projects through investments and partnerships, with the objective of progressively moving from minority to majority positions. Forafric continues to operate in Food Security through its West African operations and is developing selected opportunities in Energy. The Company is committed to disciplined capital allocation and long-term shareholder value. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "propose," "potential," "believe," "expect," "estimate," "plan," "intend," "will," "would," "could," "s