Mr. Sunny Gurnani reports

PLANT VEDA ANNOUNCES DELAY IN FILING OF ANNUAL FINANCIAL STATEMENTS AND MD&A

Plant Veda Foods Ltd. has determined that it will not be able to file its annual audited financial statements for the years ended Dec. 31, 2023, and Dec. 31, 2022, and its related management's discussion and analysis, and chief executive officer and chief financial officer certifications, in respect of the foregoing, by the prescribed filing deadline of April 29, 2024, while it obtains a valuation report in respect of the company's previously announced acquisition of all of the issued and outstanding shares of Nora's Non-Dairy Ltd. and its auditor conducts additional audit procedures in connection with the acquisition, and wishes to avoid prejudicing shareholders in the event that it is unable to do so.

The company has made an application to the British Columbia Securities Commission for a temporary management cease trade order (MCTO) under National Policy 12-203, Management Cease Trade Orders, which would restrict all trading in securities of the company, whether direct or indirect, by the chief executive officer of the company and the chief financial officer of the company. The issuance of an MCTO does not generally affect the ability of persons who are not directors, officers or other insiders of the company to trade in securities of the company.

The company is anticipating receipt of the second tranche of a temporary loan within 30 days, which it intends to use to pay for the costs that it will incur in connection with the preparation of the valuation report and the annual financial statements. Thereafter, the company intends to work towards the completion of the annual disclosure documents as expeditiously as possible and anticipates that it will be a position to remedy the default by filing the annual disclosure documents on or about June 29, 2024. The MCTO will be in effect until the annual disclosure documents are filed and the company intends to satisfy the provisions of the alternative information guidelines under NP 12-203 until that time.

About Plant Veda Foods Ltd.

Plant Veda has a mission to accelerate humanity's shift to a plant-based lifestyle. The company remains clear in its goals: to improve the environment and humanity's overall health through plant-based consumption. The company has succeeded in creating award-winning plant-based dairy alternatives, continuing to shake up the dairy-free market by creating unique, one-of-a-kind products that leave its customers forgetting about dairy all together.

We seek Safe Harbor.