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Monsanto and Pairwise Announce R&D Collaboration to Accelerate Innovation in Agriculture with Gene Editing

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Partners' Leading Expertise And The Potential Of Base Editing To
Fuel Advancement

Monsanto Company (NYSE:MON) and Pairwise Plants (Pairwise), an
agricultural startup, have announced a collaboration to advance
agriculture research and development by leveraging gene-editing
technology. Under the agreement, Pairwise will work in corn, soybeans,
wheat, cotton and canola crops exclusively with Monsanto. The companies
bring unparalleled expertise and complementary intellectual property
(IP) to a strategic alliance expected to drive new and needed solutions
to help farmers produce better harvests, protect crops from evolving
threats, and conserve resources in the face of mounting environmental
challenges.

Under the companies' collaboration and licensing agreement, Monsanto
would contribute $100 million to access and develop Pairwise IP in row
crop applications, including an option to commercialize products
resulting from the research collaboration.

"Part of Monsanto's commitment to delivering new technologies to farmers
is recognizing other innovators we can work with to accelerate
solutions," said Dr. Robb Fraley, Monsanto chief technology officer. "We
are excited to be collaborating with the pioneers in gene editing at
Pairwise to build on the robust body of research driven by our in-house
team."

Pairwise is focused on finding new ways to address global food
challenges through a world-class collective of gene-editing and
agriculture thought leaders, along with access to foundational
gene-editing IP. Pairwise has licensed programmable base editing
technology from Harvard University and will be developing new
gene-editing applications that Pairwise and Monsanto will apply in their
research. Pairwise also plans to develop its own new crop varieties
while collaborating with other agriculture and consumer food companies.

"My co-founders and I believe the technologies we have each been
developing can have a profound impact in plant agriculture and will
speed innovation that is badly needed to feed a growing population amid
challenging conditions created by a changing climate," said Pairwise
founder J. Keith Joung. "Base editing technology has the potential to
have an enormous impact on the speed and precision with which plant
scientists can improve crops, giving researchers the ability to make
single nucleotide changes at a precise location in the genome
efficiently."

Pairwise recently closed a $25 million Series A financing co-led by
premier venture capital firm Deerfield Management and Monsanto Growth
Ventures, the venture capital arm of Monsanto, which are each minority
shareholders. The company will be led by Dr. Tom Adams, incoming chief
executive officer, and Dr. Haven Baker, chief business officer, with
founders Drs. David Liu (professor and researcher at Harvard University
and the Broad Institute, and a Howard Hughes Medical Institute
Investigator), Feng Zhang (Broad Institute/MIT) and J. Keith Joung
(Massachusetts General Hospital/Harvard Medical School), each a
preeminent expert and inventor of gene-editing technologies.

"Human health care has long pioneered gene-related treatments,
successfully advancing responses to our most systemic disease
challenges. Pairwise and our partners believe the same is possible for
agriculture," said Dr. Baker, Pairwise chief business officer. "Gene
editing can play a critical role in addressing global food challenges
through collaboration across companies worldwide."

For more information on Pairwise, visit www.pairwiseplants.com.

About Monsanto Company

Monsanto is committed to bringing a broad range of solutions to help
nourish our growing world. We produce seeds for fruits, vegetables and
key crops - such as corn, soybeans, and cotton - that help farmers have
better harvests while using water and other important resources more
efficiently. We work to find sustainable solutions for soil health, help
farmers use data to improve farming practices and conserve natural
resources, and provide crop protection products to minimize damage from
pests and disease. Through programs and partnerships, we collaborate
with farmers, researchers, nonprofit organizations, universities and
others to help tackle some of the world's biggest challenges. To learn
more about Monsanto, our commitments and our more than 20,000 dedicated
employees, please visit Monsanto.com.
Follow our business on Twitter® at twitter.com/MonsantoCo.

About Pairwise

Driven by the belief that food should be healthy, affordable, convenient
and sustainable, Pairwise brings together leaders in agriculture and
technology to harness the transformative potential of genome editing to
address our food system's needs. We are working to develop new varieties
of crops, and to partner with food and agriculture companies who seek to
put nutritious food on tables across the globe. From developing novel
genome editing tools to leveraging the natural genetic diversity of
plants and creating robust partnerships and collaborations, we are
working to address the biggest challenges facing the future of food.
Join us.

Cautionary Statements Regarding Forward-Looking Information:
Certain
statements contained in this release are "forward-looking statements,"
such as statements concerning the company's anticipated financial
results, current and future product performance, regulatory approvals,
business and financial plans and other non-historical facts, as well as
the pending transaction with Bayer Aktiengesellschaft ("Bayer"). These
statements are based on current expectations and currently available
information. However, since these statements are based on factors that
involve risks and uncertainties, the company's actual performance and
results may differ materially from those described or implied by such
forward-looking statements. Factors that could cause or contribute to
such differences include, among others:
risks related to the
pending transaction between the company and Bayer, including the risk
that the regulatory approvals required for the transaction may not be
obtained on the anticipated terms or time frame or at all, the risk that
the other conditions to the completion of the transaction may not be
satisfied, the risk that disruptions or uncertainties related to the
pending transaction could adversely affect the company's business,
financial performance and/or relationships with third parties, and the
risk that certain contractual restrictions during the pendency of the
transaction could adversely affect the company's ability to pursue
business opportunities or strategic transactions; continued competition
in seeds, traits and agricultural chemicals; the company's exposure to
various contingencies, including those related to intellectual property
protection, regulatory compliance and the speed with which approvals are
received, and public understanding and acceptance of our biotechnology
and other agricultural products; the success of the company's research
and development activities; the outcomes of major lawsuits, including
potential litigation related to the pending transaction with Bayer;
developments related to foreign currencies and economies; fluctuations
in commodity prices; compliance with regulations affecting our
manufacturing; the accuracy of the company's estimates related to
distribution inventory levels; the levels of indebtedness, continued
availability of capital and financing and rating agency actions; the
company's ability to fund its short-term financing needs and to obtain
payment for the products that it sells; the effect of weather
conditions, natural disasters, accidents, and security breaches,
including cybersecurity incidents, on the agriculture business or the
company's facilities; and other risks and factors detailed in the
company's most recent periodic report to the SEC. Undue reliance should
not be placed on these forward-looking statements, which are current
only as of the date of this release. The company disclaims any current
intention or obligation to update any forward-looking statements or any
of the factors that may affect actual results.

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