Mr. Avtar Dhaliwal reports

MODERN PLANT-BASED FOODS ANNOUNCES UPDATE ON 2 FOR 1 SHARE CONSOLIDATION

Modern Plant Based Foods Inc. has arranged a share consolidation of its issued and outstanding share capital on a basis of one postconsolidated share for every two preconsolidated shares. No fractional shares will be issued, with any fraction of a share being rounded down to the nearest whole number.

As a resulting of the share consolidation, the outstanding shares of the company will be reduced to approximately 7,351,814 shares instead of the previous announced 4,173,814 shares.

The shares are planned to be trading on a share-consolidated basis and with a new Cusip number on July 31, 2026. The name of the company and symbol will not change.

Trading on a consolidated basis:  July 31, 2026

Record date:  July 31, 2026

New Cusip No.:  607677309

New ISIN (international securities identification number):  CA6076773093

The company's proposed share consolidation will be subject to the approval of the Canadian Securities Exchange.

About Modern Plant Based Foods Inc.

Modern Plant Based Foods is a Canadian food company based in Vancouver, B.C., that offers a portfolio of plant-based products, including meat and dairy-free alternatives, soups, and vegan snacks. Modern Plant Based Foods takes a holistic approach to plant-based living and understands the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste. Modern Plant Based Foods wants people to feel good about the food they eat, which is why the company is deliberate in choosing ingredients free of soy, gluten, nuts and GMOs (genetically modified organisms). Modern Plant Based Foods' mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using natural plant-based ingredients.

We seek Safe Harbor.