Recent Updates — AFRI

Forafric Global PLC has executed a non-binding letter of intent to acquire 100% of the share capital of AL NASR Industries & Systems. The target is a recently established industrial platform in Morocco dedicated to developing projects in the defense sector, including minority stakes in two companies with licenses for defense product manufacturing plants under Moroccan Law No. 10-20. The proposed acquisition constitutes a related party transaction as AL NASR is controlled by the same ultimate beneficial owner as Forafric Global. Expected closing is targeted for Q4 2026, subject to due diligence, definitive agreements, board approval, and regulatory authorizations. Forafric Global PLC operates in strategic transition, expanding from food security into defense and energy sectors.