Mr. Paul Antoniadis reports

GOOD NATURED PRODUCTS INC. ANNOUNCES UPDATE TO COST REDUCTION INITIATIVE

Building on Good Natured Products Inc.'s previously announced industrial cost reductions, additional steps have been taken by the company, with further savings to be realized.

The company has completed corporate cost reductions in a variety of functional areas, including wages and selling, general and administrative expenses, which are expected to result in annualized savings of approximately $1.8-million. When combined with the previously announced industrial cost reductions, annualized savings in aggregate are expected to total approximately $3-million. The company has taken these actions to better manage its cost structure against macroeconomic conditions that remain challenging and have impacted demand in the industrial business sector and led to some volatility in order flow and timing of new customer onboarding. The company estimates it will incur approximately $450,000 in one-time expenses associated with these reductions.

"We have carefully reviewed each functional capability to ensure we have the right resources in the right places to effectively serve our customers," stated Paul Antoniadis, chief executive officer of Good Natured. "This capability review will better position the company to manage its resources and may highlight additional areas for efficiency improvements."

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 fuel 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.