Orlando, FL April 15, 2022 - Kalera AS ("Kalera" or the "Company") (Euronext
Growth Oslo: KAL, Bloomberg: KSLLF), one of the preeminent leafy green vertical
farming companies and a leader in plant science for producing high-quality
produce in controlled environments, today announced that it has secured a
ten-year, $30 million Senior Secured Credit Facility with Farm Credit of Central
Florida ("FCCF" or "Farm Credit") to support capital expenditures and working
capital needs of the Company across the entire United States. The credit
facility was entered into by Kalera Inc. a United States based wholly owned
subsidiary of Kalera AS. 

"With access to capital provided by Farm Credit, the Company has both
strengthened its financial position and improved its capital structure, with $20
million in available funds for capital expenditures under a Term Loan, and $10
million to support general corporate and working capital purposes under a
Revolving Loan. We consider Farm Credit to be an outstanding long-term financing
partner for our US growth plans" said Fernando Cornejo, Chief Financial Officer
of Kalera. "We are now in an excellent position to execute on our objectives for
the first half of 2022, whilst moving towards an expected June completion of our
merger with Agrico that will deliver Kalera a US Nasdaq listing, immediate
additional financing, and improved long-term funding opportunities".

"With this financing, Kalera continues to advance the Controlled Environment
Agriculture (CEA) industry toward a greater focus on enhancing local agriculture
across the United States with a key focus on health and safety practices through
its indoor agriculture technology" said Brock Overbaugh, Vice President and Sr.
Agribusiness Relationship Manager, Farm Credit of Central Florida/ACA.

The Credit Agreement has a term of 120 months and includes standard terms and
conditions customary in secured financing transactions of this nature. 


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