Mr. Simon Springett reports

GLG LIFE TECH CORPORATION CONFIRMS TSX DELISTING REVIEW AND DISCUSSION WITH TSX VENTURE EXCHANGE FOR LISTING CONTINUITY

The Toronto Stock Exchange has commenced a delisting review of GLG Life Tech Corp., effective April 2, 2024. The TSX is providing the company a 120-day window in which to remedy several long-standing deficiencies, including the company's financial condition and/or operating results and the company's share price and market capitalization.

At this time, the company cannot provide any assurance that it will be able to remedy the deficiencies identified by the TSX within the 120-day window or thereafter. Even if the company is successful in its debt restructuring plans, there is no guarantee that this will be sufficient to address the TSX's financial concerns. Further, even if those concerns were adequately addressed, there is no guarantee that the company's share price, trading activity or market capitalization would improve sufficiently to avoid continued TSX concern in those areas.

The company confirms that it has been in contact with the TSX Venture Exchange regarding an application for a listing on the TSX-V to maintain trading continuity in the event that the company is delisted from the TSX. While the company is applying for a listing on the TSX-V, there is no guarantee that such a listing application will be successful, or that another market for the company's securities will be available if the company is delisted from the TSX.

Additionally, the company's board of directors is exploring other potential options that ultimately could prove to be in the best interests of the company's shareholders and stakeholders. These include possible paths to taking the company private, including, but not limited to, consideration of the possible benefits of a reverse takeover (RTO) transaction with a private company seeking to go public. The company clarifies that, to date, there have been no discussions with any specific companies in this regard and that an RTO transaction or other go-private event is, at this stage, only a hypothetical consideration.

In the meantime, the company looks forward to working with its auditor to complete and file its 2023 annual financial results and audit thereof. The company continues to actively operate and pursue growth in its natural sweetener business. The company further continues to actively work on improving its balance sheet and operating cash flows in order to bring the company to a more secure financial footing.

About GLG Life Tech Corp.

GLG Life Tech is a global leader in the supply of high-purity zero-calorie natural sweeteners, including stevia and monk fruit extracts used in food, beverages and dietary supplements. GLG's vertically integrated operations, which incorporate its fairness to farmers program and emphasize sustainability throughout, cover each step in the stevia and monk fruit supply chains including non-GMO (genetically modified organism) seed and seedling breeding, natural propagation, growth and harvest, proprietary extraction and refining, and marketing and distribution of the finished products. Additionally, to further meet the varied needs of the food and beverage and supplement industries, GLG's Naturals+ product line enables it to supply a host of complementary ingredients reliably sourced through its supplier network in China.

We seek Safe Harbor.