An anonymous director reports

ODD BURGER ANNOUNCES DELAY IN FILING OF ANNUAL FILINGS AND APPLIES FOR EXTENSION

As a result of delays in the completion of its audit, Odd Burger Corp. will be unable to meet the filing deadline of Jan. 29, 2024, for filing of the following continuous disclosure documents (collectively, the annual filings):

• The company's annual audited financial statements for the year ended Sept. 30, 2023, as required by Section 4.2 of National Instrument 51-102 -- Continuous Disclosure Obligations;
• The company's management discussion and analysis for the year ended Sept. 30, 2023, as required by Section 5.1(2) of NI 51-102; and
• The certification of the annual filings for the year ended Sept. 30, 2023.

The delay is a result of the resignation of Ted Sehl as chief financial officer of the company due to medical reasons, as announced on Jan. 5, 2024. MNP LLP, the company's auditor, has recently advised the company that, due to the cessation of duties by Mr. Sehl, it may be unable to complete its audit of the annual financial statements by Jan. 29, 2024. The company expects that MNP will be in a position to complete the audit by Feb. 29, 2024, with the annual filings to be completed as soon as possible thereafter.

In response to the annual filings delay, the company has applied to the Ontario Securities Commission for a management cease trade order (MCTO) under National Policy 12-203 -- Management Cease Trade Orders that will prohibit the management of the company from trading in the securities of the company until such time as the annual filings are filed. No decision has yet been made by the Ontario Securities Commission on this application. The Ontario Securities Commission may grant the application and issue the MCTO, or it may impose an issuer cease trade order if the annual filings are not filed in a timely fashion.

The company continues to work to complete the company's annual financial statements, and expects to file the annual filings by March 29, 2024, and will issue a news release once the annual filings have been filed. Odd Burger has made all efforts, and allocated all available resources to the preparation, completion and filing of the annual filings. The company's auditor has also made significant efforts to complete its audit of the annual financial statements. Until the company files the annual filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the company to issue biweekly default status reports, in the form of news releases, for so long as the annual filings have not been filed.

Until the company has filed the annual filings, members of the company's management and other insiders are subject to an insider trading blackout policy, as per its internal insider trading policy that is consistent with the principles in Section 9 of National Policy 11-207 -- Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on Aug. 29, 2023, of the company's interim financial reports for the period ended June 30, 2023. There are no insolvency proceedings involving the company.

About Odd Burger Corp.

Odd Burger is a franchised vegan fast-food restaurant chain and food technology company that manufactures a proprietary line of plant-based protein and dairy alternatives. Its manufactured products are distributed to Odd Burger restaurant locations through its food service line and also sold at grocery retailers through its consumer packaged goods (CPG) line. 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 technology, competitive pricing, a vertically integrated supply chain, along with healthier ingredients, Odd Burger is revolutionizing the fast-food industry by creating guilt-free fast food that can be enjoyed at its restaurant locations or at home through its CPG line.

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