Mr. Ash Guglani reports

NEXE ANNOUNCES STOCK OPTION GRANT

Nexe Innovations Inc. has granted to certain directors, officers, employees and consultants of the company 1,865,000 options to purchase up to an aggregate of 1,865,000 common shares of the company for a period of five years from June 2, 2023, at an exercise price of 40 cents per option share, being the closing price of the common shares of the company on the TSX Venture Exchange on June 1, 2023. The options will vest in three equal instalments with one-third vesting six months from the grant date, one-third vesting 12 months from the grant date and the remaining one-third vesting 18 months from the grant date, all on the terms of the stock option plan of the company dated Dec. 15, 2020, as most recently amended on March 30, 2022, and in accordance with the policies of the exchange.

The grant was implemented at the recommendation of the compensation committee of the company.

Following the grant, a total of 3,192,538 common shares of the company remain issuable under the plan.

About Nexe Innovations Inc.

Nexe Innovations is a leader in innovative compostable materials technology based in British Columbia, Canada. The first product developed by Nexe Innovations is one of the only patented, fully compostable, single-serve coffee pods for use in existing major single-serve coffee machines.

We seek Safe Harbor.