Mr. Avtar Dhaliwal reports

PONTUS PROTEIN PROVIDES UPDATE ON STATUS OF FINANCIAL STATEMENTS

Pontus Protein Ltd. is providing an update to its previously announced management cease trade order (MCTO) granted by the British Columbia Securities Commission (BCSC) under National Policy 12-203 (Management Cease Trade Orders).

Pursuant to the MCTO, the Company's CEO, Avtar Dhaliwal, and the Company's CFO, Andy Wu, may not trade in securities of the Company until such time as the Company files its annual audited financial statements, annual management's discussion and analysis and related certifications for the year ended November 30, 2022 (collectively, the "Required Documents"), and the BCSC revokes the MCTO.

The MCTO does not affect the ability of other shareholders to trade their securities.

The Company has not yet filed the Required Documents, however Pontus is working diligently with its auditors and expects that the Required Documents will be filed as soon as possible.

The delay in filing the required documents is in connection with sale of the Company's Aquaponics business and recent changes to both the management and the auditors of the Company.

Pontus also confirms that it intends to satisfy the provisions of NP 12-203 and issue bi-weekly default status reports for so long as they remain in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by Pontus to remedy the default, particulars of any failure by the Company to fulfill these provisions, any subsequent defaults of Pontus requiring a default announcement and any other material information concerning the affairs of the Company not previously disclosed.

About Pontus Protein Ltd.

This is our future - the future of farming; Pontus Protein Ltd. is a Vancouver-based agricultural food and technology company focused on creating and acquiring the best technology. Highly sophisticated, AI-engineered robots, combined with our proprietary vertical farming and a commitment to sustainability. Our intellectual property optimizes efficiency for a shorter growing time and high productivity. We deliver healthy, affordable foods and nutrients into every diet in a closed, controlled environment avoiding all pesticides and GMOs.

We seek Safe Harbor.