Mr. Gilles Gagnon reports

CEAPRO EXTENDS EXCLUSIVE INTERNATIONAL SUPPLY AND DISTRIBUTION AGREEMENT WITH LEADING GLOBAL PROVIDER OF ACTIVE INGREDIENTS, SYMRISE

Ceapro Inc. has signed an amendment to its long-term agreement with German-based multinational, Symrise AG, for the distribution and commercialization of Ceapro's high-value active ingredients to major key international players in the cosmetic market. The three-year agreement, signed on Jan. 1, 2022, will now extend until Dec. 31, 2026.

Under the agreement, Symrise is guaranteed to purchase minimum annual volumes of Ceapro's high-value active ingredients. Financial terms of the agreement were not disclosed.

"We are very pleased to extend our supply and distribution agreement and reaffirm our strong relationship with long-time partner Symrise. Given the changes and new trends in the marketplace, this agreement not only provides additional security for our ongoing cosmeceuticals base business but will also enable continued development and offering of new products, like a new powder formulation of oat beta glucan, on which both organizations have worked over the last months. Such developments are critical to maintain leadership positions and navigate through economical challenges while responding to more demanding customers. We are one more time delighted for the vote of confidence towards our company and especially for the recognition of the quality and uniqueness of Ceapro's products," said Gilles Gagnon, president and chief executive officer of Ceapro.

"Ceapro and Symrise have a long-standing relationship in product development that has benefited both companies over the years," added Timothy Kenny, global president, cosmetic ingredients, Symrise. "We believe this renewed commitment is an important milestone in our continued collaboration and this agreement further secures a strong foundation for the future. We are equally looking forward to making it successful in creating value."

About Ceapro Inc.

Ceapro is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and active ingredients from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical and therapeutics products for humans and animals. The company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug delivery solutions.