Mr. Paul Antoniadis reports

GOOD NATURED PRODUCTS INC. ANNOUNCES COST REDUCTIONS IN ITS INDUSTRIAL BUSINESS GROUP

Good Natured Products Inc. has begun a cost reduction process to address declining revenue in the petroleum-based portion of its industrial business group. This revenue segment originated as part of the company's acquisitions of Integrated Packaging Films in 2020 and Ex-Tech Plastics in 2021.

In connection with this process, management made the difficult decision to eliminate a number of positions dedicated to the production and distribution of legacy petroleum-based industrial products. These actions, although always challenging, are expected to result in approximately $1.2-million in annualized payroll reductions.

"I want to recognize the persistent efforts by many members of our team who have battled through incredible macroeconomic challenges the last few years," said Paul Antoniadis, chief executive officer of Good Natured. "The industrial manufacturing capability remains an essential part of our integrated supply-chain model that provides our packaging business group with plant-based rollstock. The announcement today is designed to lower our operating cost structure to meet current industrial demand levels, improve profitability, and to ensure our core packaging business group remains highly competitive in the market."

About Good Natured Products Inc.

Good Natured is passionately pursuing its goal of becoming North America's leading Earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products that use more renewable materials, less fossil fuels and no chemicals of concern.

Good Natured offers over 400 products and services through wholesale, direct-to-business and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the company is focused on making plant-based products more readily accessible to people to create meaningful environmental and social impact.

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