Mr. James McInnes reports

ODD BURGER REPORTS RECORD THIRD QUARTER REVENUE AND FILES THIRD QUARTER FINANCIALS AND MANAGEMENT DISCUSSION AND ANALYSIS

Odd Burger Corp. has released its financial results for its third quarter ended June 30, 2023.

James McInnes, co-founder and chief executive officer, stated: "We are very proud of our third-quarter results, where we recorded a record quarterly revenue of $860,020, an increase of 14.8 per cent from the previous quarter this year and a 9.2-per-cent increase from Q3 2022. We have worked hard on improving the efficiency of our operations, which resulted in our lowest quarterly loss in two years and a strong gross profit margin of $234,256, or 27.7 per cent of sales. Currently, Odd Burger has 15 additional locations under construction in Canada, with three new locations expected to open soon. In addition to the growth in our restaurant division, Odd Burger is also launching a retail product line, which is expected to be available at all Odd Burger locations and select retailers across Canada starting in September, 2023. Our financial results demonstrate tremendous progress on our path towards profitability, and our operations are expected to keep improving as we add more franchise locations and new revenue streams."

Summary of quarterly results

An attached table sets forth unaudited selected financial information for each of the past eight quarters.

About Odd Burger Corp.

Odd Burger is a chain of company-owned and franchised vegan fast-food restaurants, as well as a food technology company that manufactures and distributes a proprietary line of plant-based protein and dairy alternatives to its locations. Odd Burger restaurants operate as smart kitchens, which use state-of-the-art cooking technology and automation solutions to deliver a delicious food experience to customers craving healthier and more-sustainable fast food. With small-store footprints optimized for delivery and takeout, advanced cooking technologies, competitive pricing, a vertically integrated supply chain, and healthier ingredients, Odd Burger is revolutionizing the fast-food industry by creating guilt-free fast food.

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