Mr. Joe Abbandonato reports

IMAFLEX ANNOUNCES DEPARTURE OF CFO

Giancarlo Santella, chief financial officer, is leaving Imaflex Inc. to pursue other career opportunities in a new industry. Mr. Santella will continue to serve as chief financial officer until his departure, which is planned for June 9, 2023.

During Mr. Santella's tenure, Imaflex achieved significant milestones, including strong growth and a solid financial foundation. "On behalf of the board of directors and Imaflex team, I would like to thank Giancarlo for his valuable contributions, dedication and leadership," said Joe Abbandonato, president and chief executive officer of Imaflex. "We wish him well in his future endeavours."

"It has been an exciting journey over the past 12 years with Imaflex and I am proud of what we have accomplished," commented Mr. Santella. "I am grateful for the opportunities, support and valuable experiences I have gained during my tenure. The business is in a position of strength and has great potential. As such, now is the right time for a new challenge."

Imaflex has initiated a comprehensive search process for Mr. Santella's successor. The corporation remains committed to ensuring a smooth transition and finding a candidate who can build on the corporation's achievements and drive further growth.

In the interim, John Ripplinger, vice-president, corporate affairs, will also assume the responsibilities of the chief financial officer role. "John has worked extensively with Giancarlo over the past six years, making him well positioned to maintain the financial stability and strategic initiatives of Imaflex," commented Mr. Abbandonato. "I thank him for taking on this mandate until a successor for Giancarlo is appointed."

Mr. Ripplinger has over 25 years of experience working in such areas as strategic planning, financial planning and analysis, budgeting and reporting, and corporate affairs, working predominantly for blue-chip companies. He holds an MBA from McGill University.

About Imaflex Inc.

Founded in 1994, Imaflex is focused on the development and manufacturing of innovative solutions for the flexible packaging space. Concurrently, the corporation develops and manufactures films for the agriculture industry. The corporation's products consist primarily of polyethylene (plastic) film and bags, including metalized plastic film, for the industrial, agricultural and consumer markets. Headquartered in Montreal, Que., Imaflex has manufacturing facilities in Canada and the United States. The corporation's common stock is listed on the TSX Venture Exchange under the ticker symbol IFX.

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