Mr. Jonathan Or reports

BEYOND OIL SIGNS U.S. DISTRIBUTION AGREEMENT WITH OIL SOLUTIONS GROUP

Further to a news release disseminated on March 17, 2022, Beyond Oil Ltd. has entered into a definitive distribution agreement with Oil Solutions Group Inc. The distribution agreement gives Oil Solutions Group the rights and licence to market and sell Beyond Oil's product to its restaurant customers in the United States.

Oil Solutions Group, based in Texas and Georgia, U.S., is a pioneering company providing cutting-edge oil management solutions with high-quality filtration products. With over 35 years of experience, it is nationally recognized as a leader in extending oil life for the food-service industry. Thousands of its satisfied customers, including multinational chains, have saved millions of dollars and oil pounds, benefiting from value-added best practices that enhance product quality and sales. Oil Solutions Group's best-in-class filtration products include the patented Masterfil reusable filters, with 0.5-micron depth filtration media, and the state-of-the-art Armadillo filter machine, designed for easy cleaning and service. Oil Solutions Group's expert team, with over 145 years of food service experience, assists in maximizing return on investment and optimizing oil life compliance.

Howard Wixson, president of Oil Solutions Group, comments: "Throughout the past year, during numerous demos conducted by both companies in the U.S., Canada and Israel, we closely monitored Beyond Oil's product development. As a national market leader, we have extensive experience in selling and using competing products over the years. We have been on the lookout for a solution like Beyond Oil, and we are pleased to introduce this innovative product to our valuable customer base and beyond."

"We are excited to have Oil Solutions Group as our first U.S. distributor to introduce our ground-breaking product to the U.S. food market," said Jonathan Or, chief executive officer and co-founder of Beyond Oil. "Integrating Beyond Oil's product into Oil Solutions Group's offerings will bring forth cost-savings and heightened sustainability to the entire food industry. Their team of experts with over 145 years of food service experience makes them an ideal partner for us, allowing us to reach their vast base of existing customers while also engaging new ones. This partnership is a win-win for both parties, enabling us to offer a truly unique value proposition to the market. Together, we aspire to revolutionize the fried food landscape, providing consumers with a healthier and higher-quality experience."

Distribution agreement

The distribution agreement became effective on July 31, 2023, and establishes Oil Solutions Group as the first non-exclusive distributor of Beyond Oil's product in the U.S. food service market. Under the terms of the distribution agreement, Oil Solutions Group will market, distribute and sell Beyond Oil's product to its existing and prospective customers in the United States, and will also be responsible for providing training and support services to such customers. Beyond Oil and Oil Solutions Group have agreed to co-ordinate on joint marketing efforts under the distribution agreement. The initial term of the distribution agreement is for one year, but will renew for an additional term of three years upon the parties executing a renewal agreement before the expiry of the initial term.

Product highlights:

• Frying oils recovery: Extensive testing indicates that the Beyond Oil product extends the usable life of frying oil, improves product quality and reduces frying oil costs. As a preferential adsorbent, the product reduces and prevents the formation of harmful components such as total polar materials (TPM), trans fats, acrylamide, polycyclic aromatic hydrocarbons (PAHs) and other impurities, ensuring frying oil stays fresh and fried food tastes fantastic.
• One of a kind: To the company's knowledge, Beyond Oil has developed a unique solution that can absorb the free fatty acids (FFA) and TPMs generated in frying oil, together with other harmful components and undesired off-flavours, colours and odours.
• Patent protected: The company also has a portfolio of registered and patent-pending solutions that extend the shelf life of produced and used vegetable oils.
• Potential cost savings: One of Beyond Oil's unique value propositions is that it can dramatically lower costs for quick-service restaurants by significantly extending the useful life of the oil while meeting food quality and safety requirements. For more information on how the Beyond Oil product extends the life of frying oil, see the company's news release dated Dec. 12, 2022.
• Distribution ready: The company received a non-objection letter from the U.S. Food and Drug Administration (FDA) in March, 2022, on the basis that all the Beyond Oil product ingredients meet food-grade specifications of the FDA. In May, 2022, Beyond Oil received a non-objection letter from Health Canada and a National Sanitation Foundation certification. Beyond Oil is legally permitted to sell its product into the Israeli market according to the processing-aid and filtering-aid regulations.

How the Beyond Oil product works

The Beyond Oil product integrates into the existing filtration systems of both commercial and industrial fryers. The combination of active filtration by the powder, and passive filtration by the filter media and filtration machine, ensures the best results by removing other degradation particles. The powder remains on the filter media and creates an additional layer which provides the microfiltration benefit.

About Beyond Oil Ltd.

Beyond Oil develops and manufactures an innovative, proprietary and patented product designed to extend the life of frying oil while preserving the oil's quality and nutritional value. The unique product integrates into the existing filtration systems of both commercial and industrial fryers, reducing oil costs, helping create healthier food, decreasing waste and increasing sustainability.

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