Ms. Hamutal Yitzhak reports

ELSE FURTHER PENETRATES CANADIAN MARKET WITH LEADING RETAIL PHARMACY CHAIN LISTING OF READY-TO-DRINK PRODUCT

Else Nutrition Holdings Inc.'s ready-to-drink (RTD) kids nutritional shakes are expected on the shelves of a leading retail pharmacy chain, with locations across Western Canada, during the first quarter of 2024. This early and noteworthy listing expands Else's penetration within the Canadian market and demonstrates the brand's growing appeal among consumers.

This regional retail leader, known for its extensive reach in British Columbia and Alberta, already carries a vast range of Else Nutrition products and now offers an ideal platform for Else's nutritious RTD products. The listing accentuates the shared objective of both Else and the retailer in delivering quality, wholesome products to Canadian families. With 79 locations across Western Canada, this retail partner's strategic reach makes Else's RTD kids nutritional shakes in chocolate and vanilla immediately accessible in a core region, and marks a key milestone in making plant-based nutrition more accessible to Canadian households.

"We are thrilled to once again partner with a powerhouse retail chain that aligns with our vision of providing families with high-quality, nutritious and sustainable options. This collaboration significantly propels our mission of making plant-based nutrition readily available to a broader Canadian audience," said Hamutal Yitzhak, chief executive officer and co-founder of Else Nutrition.

The company also announces that it has agreed to amend the exercise price and expiry date of an aggregate of 2,857,142 common share purchase warrants of the company. The warrants were originally issued on June 29, 2022, pursuant to an offering of units of the company. Each warrant may be exercised to acquire a common share of the company at a price of $1.25 per share until June 29, 2027. Pursuant to the amendment, the warrants may be exercised at 48.5 cents per share until Nov. 21, 2028. Other than the foregoing, no other substantive amendments to the terms of the warrants are contemplated. The holder of the warrants is an arm's-length investor in the company. The warrants may not be exercised for any shares that would result in the holder exceeding ownership of 9.9 per cent of the issued common shares. The warrant amendment is subject to the approval of the Toronto Stock Exchange.

About Else Nutrition Holdings Inc.

Else Nutrition is a food and nutrition company in the international expansion stage focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formulas. Since launching its plant-based complete nutrition for toddlers, made of whole foods, almonds, buckwheat and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth.

We seek Safe Harbor.