Mr. George Lunick reports

PEARL RIVER ANNOUNCES FILING OF AMENDED AND RESTATED INTERIM FINANCIAL STATEMENTS

Pearl River Holdings Ltd. has filed amended and restated financial statements for the interim period ended June 30, 2023, to correct an error discussed below.

The presentation currency for the financial statements of Pearl River is the Chinese yuan renminbi, and the financial statements also include certain applicable Canadian-dollar conversion amounts. Following the filing of the financial statements for the interim period ended June 30, 2023, management of Pearl River discovered that the column on the condensed interim consolidated statement of operations showing the Canadian-dollar-equivalent amount for the three months ended June 30, 2023, had not been updated from the 2022 amounts. For clarity, all of the amounts in Chinese yuan renminbi were correct.

The impact of the changes to the amended financial statements is highlighted in the attached table.

The amended financial statements are available under Pearl River's profile on SEDAR+. The amended financial statements replace and supersede the previously filed original interim financial statements. Such previously filed interim financial statements for the period ended June 30, 2023, should be disregarded.

About Pearl River Holdings Ltd.

Through its subsidiaries, Pearl River has a principal business of manufacturing and distributing plastic products in China, Australia and the United States.