Mr. Brent Charleton reports

ENWAVE SIGNS TECHNOLOGY EVALUATION AND LICENSE OPTION AGREEMENT WITH SOLVE SOLUTIONS LTDA OF BRAZIL

EnWave Corp. has signed a technology evaluation and licence option agreement with Solve Solutions Ltda., a Brazilian food company with a strategic focus on producing premium dried fruit, vegetable and snack products. Solve Solutions markets and sells its products to private label and consumer food brands and manufacturers both in Brazil and other export markets. During the term of the TELOA, Solve Solutions will hold an exclusive option to license EnWave's Radiant Energy Vacuum (REV) drying technology to produce select fruits, vegetables and cheese snack products in the country of Brazil.

Solve Solutions trialled REV technology at the company's innovation centre located in Delta, Canada, prior to committing to this next phase of product development and market testing. Solve Solutions will rent a 10-kilowatt REV machine for use at its facility in the state of Santa Catarina, Brazil, which will enable expedited development of premium dried products for their target customers. If the trial is successful, Solve Solutions has the option to acquire the 10 kW REV machine. The rental period for the machinery is for a minimum of three months, and a maximum of six months.

This agreement is the first TELOA signed by EnWave with a Brazilian food manufacturer.

About Solve Solutions Ltda.

Solve Solutions is a food manufacturing business held under Troyes Participacoes SA, a holding company that manages various enterprises in diversified industries. Solve Solutions will serve as a new dehydrated food company to further diversify the group's business portfolio. Solve Solutions has identified a market opportunity in Brazil to supply premium dried fruit, vegetable and cheese ingredients to other food manufactures and CPG (consumer-packaged goods) brands currently underserviced by existing suppliers of air dried and freeze-dried products. The initial dried product offerings include, but are not limited to, strawberry, pineapple, mango, banana, beet, carrot, ginger and cheese snack products. Solve Solutions expects to complete construction of its production facility in calendar Q1 2024, and complete commissioning of the 10 kW REV machine within Q2.

About EnWave Corp.

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, B.C., EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV) technology, and transformed an innovative idea into a proven, consistent and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality and cost.

With more than 50 royalty-generating partners spanning 26 countries and five continents, EnWave's licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company's patented technology, licensed machinery and expert guidance.

EnWave's strategy is to sign royalty-bearing commercial licences with food producers that want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improving product taste, texture, colour and nutritional value.

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