oExtraordinary general meeting of Kalera shareholders (the "Kalera Special
Meeting") and extraordinary general meeting of Agrico shareholders (the "Agrico
Special Meeting" and, together with the Kalera Special Meeting, the "Special
Meetings") to approve the proposed business combination of Kalera and Agrico
expected to be held on June 27, 2022.

oRecord date for the Kalera Special Meeting is June 6, 2022 (the "Kalera Record
Date"); Record date for the Agrico Special Meeting is May 12, 2022 (the "Agrico
Record Date" and, together with the Kalera Record Date, the "Record Dates").

oKalera shareholders as of June 6, 2022 voting by proxy should submit their vote
by June 22, 2022.

oAgrico shareholders as of May 12, 2022 voting by proxy should submit their vote
by 10:00 a.m., Eastern Time on June 25, 2022.

oKalera has waived the minimum cash closing condition.  

oDespite the waiver of the condition, if the minimum cash condition is not
satisfied upon the consummation of the business combination, Agrico's sponsor
promote will be proportionately forfeited as outlined in the Sponsor Support
Agreement.

oUpon closing of the business combination, the ordinary shares and warrants of
the combined company will be listed on Nasdaq under the ticker symbols "KAL" and
"KALWW", respectively.


Orlando, Florida and Grand Cayman, Cayman Islands, May 16, 2022 - Kalera AS
("Kalera") (EURONEXT GROWTH OSLO: KAL) and Agrico Acquisition Corp. ("Agrico")
(NASDAQ: RICO) announced today that the U.S. Securities and Exchange Commission
("SEC") has declared effective the registration statement on Form S-4 of Kalera
Public Limited Company (as amended, the "Registration Statement"), which
includes a proxy statement/prospectus in connection with the Kalera Special
Meeting and the Agrico Special Meeting to consider matters related to the
previously announced proposed business combination of Kalera and Agrico.

Additionally, Kalera today announced that it has set a meeting date of June 27,
2022 for the Kalera Special Meeting and a record date of June 6, 2022, and
Agrico today announced that it has set a meeting date of June 27, 2022 for the
Agrico Special Meeting and a record date of May 12, 2022.

"We are pleased that the SEC has declared the Kalera registration statement
effective, and we are ready to move forward with the consummation of the
business combination," said Curtis McWilliams, Interim CEO and incoming Chair of
Kalera's board of directors. "Since the announcement, a significant amount of
capital has been raised. The board has made the decision to go ahead and waive
the minimum cash closing condition to provide our shareholders assurances of the
opportunity, if approved, to close the merger and transfer to the more liquid
NASDAQ exchange."


Kalera Shareholder Vote
Kalera's shareholders of record at the close of business on the Kalera Record
Date are entitled to vote their Kalera ordinary shares at the Kalera Special
Meeting.

The Kalera Special Meeting will take place on June 27, 2022, at the time as set
out in the proxy and voting card in relation to the Kalera Special Meeting, and
will be conducted via live webcast at the following link:
https://arendt.webex.com/arendt/j.php?MTID=m6bd2433f97b2ee5d2e7055d6a4c88fff. 


Agrico Shareholder Vote
Agrico's shareholders of record at the close of business on the Agrico Record
Date are entitled to vote their Agrico ordinary shares at the Agrico Special
Meeting. 

The Agrico Special Meeting will take place at 10:00 a.m., Eastern Time, on June
27, 2022 and will be held at the offices of Maples and Calder (Cayman) LLP at
121 South Church Street, Ugland House, Grand Cayman, Cayman Islands and
virtually at the following link:
https://www.cstproxy.com/agricoacquisition/2022.

In connection with the Agrico Special Meeting, Agrico shareholders that wish to
exercise their redemption rights must do so no later than 5:00pm Eastern Time on
June 23, 2022 (two (2) business days prior to the Agrico Special Meeting) by
following the procedures as specified in the definitive proxy statement/
prospectus for the Agrico Special Meeting. There is no requirement that
shareholders affirmatively vote for or against the business combination at the
Agrico Special Meeting in order to redeem their shares for cash. 

As announced previously, the business combination is to be effected through a
newly created holding company, Kalera Public Limited Company ("Kalera PLC").
Upon the consummation of the business combination, Agrico will become a
wholly-owned subsidiary of Kalera PLC and, if Agrico is solvent at such time,
its voluntary winding-up is expected to commence and its business is expected to
be discontinued except to the extent necessary to facilitate the winding-up. The
legacy business of Kalera will be operated by Kalera PLC. Kalera PLC's ordinary
shares and warrants are expected to be traded on Nasdaq under the new symbols
"KAL" and "KALWW", respectively. At the closing of the business combination,
each Agrico unit will separate into its components consisting of one Agrico
ordinary share and one half of one warrant and, as a result, will no longer
trade as a separate security.

The Record Dates determine the holders of Kalera and Agrico's ordinary shares
entitled to vote at the Special Meetings, and at any adjournment or postponement
thereof, whereby shareholders will be asked to approve and adopt the business
combination, and such other proposals as disclosed in the definitive proxy
statement/prospectus included in the Registration Statement and related
convening notice. If the business combination and other proposals are approved
by Kalera and Agrico shareholders, Kalera and Agrico anticipate closing the
business combination shortly after the Special Meetings, subject to the
satisfaction or waiver (as applicable) of all other closing conditions. Kalera's
officers and directors and certain other shareholders, who collectively own
approximately 45% of the outstanding Kalera ordinary shares, have agreed to vote
their shares in favor of the business combination.

Investors who hold Kalera's ordinary shares in "street name", which means that
the shares are held in an account at a brokerage firm or bank, and unless
otherwise specified in the relevant convening notice, may either contact their
broker, bank or nominee to ensure that votes related to the shares they
beneficially own are properly counted, or use the proxy and voting card as
instructed by Kalera, together in the latter case with a share certificate
certifying the number of shares recorded in the relevant account on the Kalera
Record Date. If they wish to attend the Kalera Special Meeting and vote, they
must contact their broker, bank or other nominee to obtain a legal proxy and
instructions on the procedures to be followed. Kalera recommends that its
shareholders wishing to vote at the Kalera Special Meeting log in at least 15
minutes before the Kalera Special Meeting start time. Kalera encourages its
shareholders entitled to vote at the Kalera Special Meeting to vote their shares
via proxy in advance of the Kalera Special Meeting by following the instructions
on the proxy card. 

Investors who hold Agrico's ordinary shares in "street name", which means that
the shares are registered in the name of their broker, bank or other agent,
should contact their broker, bank or other agent to ensure that votes related to
the shares they beneficially own are properly counted. In this regards, they
must instruct their broker, bank or other agent how to vote the shares they
beneficially own in accordance with the voting instruction form they receive
from their broker, bank or other agent. If they wish to attend the Agrico
Special Meeting and vote, they must contact their broker, bank or other agent to
obtain a legal proxy and instructions on the procedures to be followed.
Beneficial investors who own their investments through a bank or broker and wish
to attend the meeting will need to contact Continental Stock Transfer & Trust
Company to receive a control number at least 48 hours before the Agrico Special
Meeting.


Waiver of Minimum Cash Condition
Kalera also announced today that it waived the minimum cash closing condition.
The minimum cash condition provides that, after the holders of Agrico shares
have exercised their redemption rights and assuming the payment of all
transaction expenses, the aggregate amount of cash proceeds received or
available to Kalera at or prior to the consummation of the business combination
in respect of debt or equity financing and the amount in the trust account must
equal $100 million in order for Kalera to be required to consummate the business
combination. 

Despite the waiver of the condition, if the minimum cash condition is not
satisfied upon the consummation of the business combination, Agrico's sponsor
promote will be proportionately forfeited as outlined in the Sponsor Support
Agreement.


About Kalera
Kalera is a vertical farming company headquartered in Orlando, Florida. Kalera
uses technology to ensure that more people around the world have access to the
freshest, most nutritious, and cleanest products available. It has spent several
years optimizing plant nutrient formulas and developing an advanced automation
and data acquisition system with Internet of Things, cloud, big data analytics
and artificial intelligence capabilities. Kalera currently operates farms in the
US (in Orlando, Florida; Atlanta, Georgia; Houston, Texas and Denver, Colorado),
as well as in Kuwait. Additional farms are under development. More information
is available at www.kalera.com.


About Agrico
Agrico is a blank check company incorporated on July 31, 2021 as a Cayman
Islands exempted company for the purpose of effecting a merger, share exchange,
asset acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While Agrico may pursue an acquisition
opportunity in any industry or sector, Agrico intends to focus on agricultural
technology targets in agriculture, horticulture, and aquaculture that aim to
improve yield, efficiency or profitability in the production, processing,
distribution, provision of capital, or consumption of outputs, inputs, data,
technology or other services. For more information, please visit www.agrico.co. 


No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of
an offer to buy any securities, or a solicitation of any vote or approval, nor
shall there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.


Important Information and Where to Find It
In connection with the transaction, Agrico and Kalera PLC have filed and will
file relevant materials with the SEC, including a Form S-4 registration
statement filed by Kalera PLC on April 21, 2022 and amended on May 9, 2022 and
May 13, 2022 (the "S-4"), which includes a prospectus with respect to Kalera
PLC's securities to be issued in connection with the proposed business
combination and a proxy statement (the "Proxy Statement") with respect to Agrico
and Kalera's shareholder meetings at which such shareholders will be asked to
vote on the proposed business combination and related matters. Before making any
voting or investment decision, investors and security holders of Agrico and
Kalera are urged to carefully read the entire registration statement and proxy
statement/prospectus, and any other relevant documents filed with the SEC, as
well as any amendments or supplements to these documents, because they contain
important information about the proposed transaction. The documents filed with
the SEC may be obtained free of charge at the SEC's website at www.sec.gov, from
Agrico's website at https://www.agrico.co/ and from Kalera's website at
https://www.Kalera.com/.


Participants in the Solicitation
Agrico, Kalera and certain of their respective directors and executive officers
may be deemed to be participants in the solicitation of proxies from
shareholders, in favor of the approval of the merger. Information regarding
Agrico's and Kalera's directors and executive officers and other persons who may
be deemed participants in the solicitation may be obtained by reading the
registration statement and the proxy statement/prospectus and other relevant
documents filed with the SEC. Free copies of these documents may be obtained as
described above.


Forward-Looking Statements
This communication includes certain statements that are not historical facts but
are forward-looking statements for purposes of the safe harbor provisions under
the applicable securities laws. Forward-looking statements generally are
accompanied by words such as "believe," "may," "will," "estimate," "continue,"
"anticipate," "intend," "expect," "should," "would," "plan," "predict,"
"potential," "seem," "seek," "future," "outlook," and similar expressions that
predict or indicate future events or trends or that are not statements of
historical matters.
These forward-looking statements include, but are not limited to, statements
regarding the terms and conditions of the proposed business combination and
related transactions disclosed herein, the timing of the consummation of such
transactions, assumptions regarding shareholder redemptions and the anticipated
benefits and financial position of the parties resulting therefrom. These
statements are based on various assumptions and/or on the current expectations
of Agrico or Kalera's management. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as and must not be
relied on by any investor or other person as, a guarantee, an assurance, a
prediction or a definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will differ from
assumptions. Many actual events and circumstances are beyond the control of
Agrico and/or Kalera. These forward-looking statements are subject to a number
of risks and uncertainties, including but not limited to general economic,
financial, legal, political and business conditions and changes in domestic and
foreign markets; the amount of redemption requests made by Agrico's public
shareholders; changes in the assumptions underlying Kalera's expectations
regarding its future business; the effects of competition on Kalera's future
business; and the outcome of judicial proceedings to which Kalera is, or may
become a party.

If the risks materialize or assumptions prove incorrect, actual results could
differ materially from the results implied by these forward-looking statements.
There may be additional risks that Kalera and Agrico presently do not know or
currently believe are immaterial that could also cause actual results to differ
materially from those contained in the forward-looking statements. In addition,
forward-looking statements reflect expectations, assumptions, plans or forecasts
of future events and views as of the date of this communication. Kalera and
Agrico anticipate that subsequent events and developments will cause these
assessments to change. However, while Kalera and/or Agrico may elect to update
these forward-looking statements at some point in the future, each of Kalera and
Agrico specifically disclaims any obligation to do so, except as required by
applicable law. These forward-looking statements should not be relied upon as
representing Kalera's or Agrico' (or their respective affiliates') assessments
as of any date subsequent to the date of this written communication.
Accordingly, undue reliance should not be placed upon the forward-looking
statements.


For investor inquiries, please contact:
Eric Birge
ir@kalera.com
313-309-9500

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