Mr. Vincent Narang reports

GREEN RISE FOODS ANNOUNCES RECORD FULL YEAR 2024 FINANCIAL RESULTS, 2025 CROP UPDATE AND CHANGE OF REGISTERED OFFICE

Green Rise Foods Inc. has released its consolidated financial results for the year ended Dec. 31, 2024.

The complete consolidated financial statements and associated management's discussion and analysis (MD&A) are available under the company's profile at SEDAR+.

Selected highlights for the year-ended Dec. 31, 2024:

• Year-over-year revenue increase of 14.3 per cent to $30.3-million;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the year increased to $6.1-million versus $2.8-million for the year ended Dec. 31, 2023;
• The company is current and on schedule with all of its mortgage obligations and in compliance with all its banking requirements.

2025 crop update:

• The 2025 season is progressing well and on schedule. The company's greenhouse staff are working together to produce exceptional quality produce.
• Management continues to focus on lowering input costs and managing the company's natural gas, biologicals and fertilizers procurements.

"The people of Green Rise completed a transformational year. The company produced record profits in 2024 and expects to increase profitability without any further capital expenditures in 2025. We continue to work very closely with our distribution partner, Mastronardi Produce Ltd., the owner of the 'Sunset' brand, to select and plant varieties that optimize taste, quality and nutrition to meet consumer demands. We have made critical operational changes and intend to add strategic hires to maximize efficiencies. Two thousand twenty-five is starting off well. I am very excited about this year and look forward to updating our progress in our next market update," said Vincent Narang, the company's chief executive officer.

Change of registered office

The company has moved its registered office from 47 Colborne St., suite 301, Toronto, Ont., M5E 1P8, Canada, to 199 Bay St., Commerce Court West, suite 4000, Toronto, Ont., M5L 1A9, Canada, with effect from today's date.

About Green Rise Foods Inc.

Green Rise uses its wholly owned 89 acres of Controlled-Environment Agriculture Greenhouses to produce high-quality fresh produce under the Sunset brand for Mastronardi Produce Ltd., the company's distribution partner. Green Rise is proud to be an environmentally sustainable investment providing bee-pollinated, high-quality fresh products to meet the growing consumer demand for locally grown fresh produce.

We seek Safe Harbor.