File: '\\swfile\EmailIn\20240709 130033 Attachment ELM 2024-07-XX Teresa Sun resign final.docx'

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FOR IMMEDIATE RELEASE

Element Lifestyle Announces Board Change

July XX, 2024 - VANCOUVER, BC - Element Lifestyle Retirement Inc. ("Element" or the "Company") (TSXV- ELM), announces that Ms. Teresa Sun has resigned as a Director and Corporate Secretary of the Company effective July 3, 2024.

Element CEO, Michael Diao, comments, "Teresa has been with the Company since it went public in 2015. She was involved in virtually all facets of developing our flagship project Opal by Element. We thank her for all of her efforts and wish her the best in the future."

About Element Lifestyle Retirement

Element was established in June 2013 in Vancouver, British Columbia. It is in the business of providing specialized development expertise and flexible, innovative management services for senior retirement communities. The core business of Element is the development and management of third party assets in the "senior retirement community" space. Element aspires to be one of the most respected senior living specialists in North America, emphasizing the "Continuum-of-Lifestyles" model, which encompasses a smooth, seamless transition for seniors from independence to assisted living to complex care. The management team of Element has over 20 years of experience developing and operating retirement communities.

ON BEHALF OF THE BOARD

ELEMENT LIFESTYLE RETIREMENT INC.

"Michael Diao"

Chief Executive Officer and Director

Telephone: (604) 676-1418

www.ElementLiving.com

Forward-looking Statement Caution

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to development of Element's business, including statements regarding timing of site excavation, timing for applying for building permit, assessing opportunities and advancing the Company's plans. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks associated with Element's business as disclosed in the Company's most recently filed MD&A. The statements in this news release are made as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.