Mr. Sean Black reports

HAPPY BELLY FOOD GROUP'S IQ FOOD CO. ANNOUNCES THE SIGNING OF A 5-UNIT TERM SHEET IN CALGARY, ALBERTA

Further to Happy Belly Food Group Inc.'s news release on March 5, 2026, announcing the securing of iQ Food Co.'s first real estate location in Western Canada, Happy Belly has signed a five-unit term sheet for the development of iQ restaurants in Calgary, Alta. Under the agreement, a multiunit franchisee will work with Happy Belly to bring five net-new iQ restaurants to Calgary and the surrounding area, representing the next step in establishing a meaningful footprint for iQ in the Alberta market. Its first signed franchise location will be in downtown Calgary's The Core Shopping Centre on Stephen Avenue, with a fall 2026 opening planned. The signing further supports iQ's expansion beyond Ontario, aligning with Happy Belly's national expansion strategy, and advances the company's continued execution against its organic growth pipeline. iQ is a premium healthy-eating quick-service restaurant (QSR) concept known for its vibrant menu of nourishing, clean-eating dishes, including healthy bowls, smoothies, sandwiches, soups and salads, crafted to satisfy a wide range of tastes and lifestyles.

"Calgary is a compelling, health-forward market with strong customer fundamentals and a growing appetite for premium healthy-eating concepts, making it an ideal fit for iQ's positioning," said Sean Black, chief executive officer of Happy Belly Food Group. "This agreement reflects our disciplined approach to expansion as we build density around high-quality real estate that supports consistent daily demand and attractive unit economics.

"The momentum behind iQ continues to validate both the strength of the concept and our execution. With area development agreements across Alberta, Ontario and British Columbia totalling 80 committed units, we are building the foundation to scale iQ into a nationally recognized brand and drive sustained expansion in Canada's most attractive urban markets.

"Our focus remains on accelerating growth through organic development and targeted acquisitions. With a growing pipeline of restaurants across Canada, iQ continues to strengthen Happy Belly's broader portfolio of 686 contractually committed retail franchise locations across multiple emerging brands, spanning various stages of development, construction and operation. Our disciplined, predictable growth engine is delivering measurable results as we expand our brands across Canada and the U.S., creating long-term value for shareholders.

"We are just getting started," added Mr. Black.

About iQ Food Co.

iQ is a flagship brand in Canada's premium healthy-eating market and is strategically located in urban and central business districts. iQ serves a variety of delicious and wholesome food options such as healthy bowls, smoothies, sandwiches, soups and salads, along with other flavourful clean-eating dishes that the whole family can enjoy. iQ caters to thousands of health-conscious customers from local businesses, while expanding into catering services to service an even greater audience in downtown densely populated areas. This strategy has fostered strong brand recognition and a loyal customer base driven by word of mouth and, most importantly, satisfied customers.

Franchising

For franchising inquiries, please see Happy Belly's website or contact the company at hello@happybellyfg.com.

About Happy Belly Food Group Inc.

Happy Belly Food Group is a leader in acquiring and scaling emerging food brands. The company's portfolio includes Heal Wellness, Rosie's Burgers, Yolks Breakfast, Via Cibo Italian Street Food, iQ Food Co. and others.

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