Mr. Paul Kania reports

SOL GLOBAL PROVIDES INTERIM UNAUDITED FINANCIALS FOR THE SECOND QUARTER ENDED MAY 2023

SOL Global Investments Corp. has released its unaudited financial results for the second quarter ended May 31, 2023. The Company is also pleased to present a general operational update regarding its assets and investments. All figures in this press release are in Canadian dollars, unless otherwise indicated.

Unaudited Six-Month Period Ended ResultsFor the six-months period ended May 31, 2023, the Company recorded a net loss of ($12.2) million vs. six-months period ended May 31, 2022, net loss of ($161.1) million. This represents a favourable change of $148.9 million. For the three-months period ended May 31, 2023, the Company recorded a net loss of ($1.2) million vs the three-months period ended May 31, 2022, net loss of ($86.7) million. This represents a favourable change of $85.5 million.Total loss from investments totalled ($9.4) million for the six-month period ended May 31, 2023, compared to loss of ($177.3) million for the six-month period ended May 31, 2022. This represents a favourable change of $167.9 million between periods. Total income from investments totalled $2.8 million for the three-month period ended May 31, 2023, compared to a loss of ($96.2) million for the three-month period ended May 31, 2022. This represents a favourable change of $99.0 million between periods. The unaudited Net Asset Value ("NAV") per share is equal to $0.89 at May 31, 2023, vs. $3.43 at May 31, 2022.

"SOL's focus on operating efficiency has helped navigate this period of uncertainty," said Paul Kania, CFO and Interim CEO. "We continue to see our portfolio companies operate well in this environment, and coupled with our cost cutting efforts, we feel SOL has built a great foundation."

Portfolio Highlights for Q2 2023

Damon Motors Inc. ("Damon"), a global technology company in urban mobility, continued to build its order book throughout the quarter, approaching a total order book of $100M to date globally, with the potential of exceeding $250M through international partnerships, including its partnership with Latin America's Auteco Mobility. Additionally, it entered a partnership with Indika Energy, Indonesia's leading diversified energy company, as a means of penetrating the largest two-wheeled vehicle market in the world. To fulfil its large order book, Damon has leased a 108,000 square foot plant in Surrey, British Columbia as it prepares to scale manufacturing to produce its flagship HyperSport electric motorcycle. Visit www.damon.com.

Kiwi Campus Inc. ("Kiwibot"), a robotic last-mile delivery service, announced a deal worth $10 million on February 22, 2023, with Swiss-based Kineo finance to invest in their fleet of autonomous robots. Prior to the deal, Kiwibot signed a $20 million contract with food services giant, Sodexo, to deploy more than 1,200 delivery "Kiwibots" across 50 college campuses in the US. Sodexo is a global food services and facilities company in more than 80 countries that operates in college campuses across the United States. It is operating more than 550 robots in 29 locations across the United States as well as in Dubai. Kiwibot also signed an agreement for an additional 1,200 robots with Careem in Dubai for last-mile food delivery services. Careem is Uber's food delivery service in the Middle East. Visit www.kiwibot.com.

Tevva Motors Ltd. ("Tevva"), a UK-based designer and manufacturer of zero-emission medium-duty trucks with an innovative combination of battery electric and hydrogen fuel-cell range extender technology, is currently launching large-scale commercial production of its fully electric 7.5-ton truck. On March 9, 2023, Tevva secured government plug-in truck grant (PITrG) eligibility for its 7.5-ton battery-electric truck, making it the only battery-electric truck from a British manufacturer to qualify for the award. The grant pays for 20% of the purchase price, representing a pounds sterling16,000 reduction in the total cost of ownership. On April 19, 2023, Tevva, in partnership with ZF, integrated a regenerative braking system into its 7.5-ton battery-electric truck, which recuperates up to four times more energy than conventional systems, enhancing the truck's range. This advancement, achieved by adapting ZF's Electronic Brake System to Tevva's vehicle control unit, reduces brake wear and tear, leading to efficient brake management and lower overall cost of ownership. Visit www.tevva.com.

Onet Global Inc. ("Navier"), a long-range, high-speed electric hydrofoiling boat manufacturer is beginning production on its 30-foot, all-electric Navier 30 model for direct consumer sales. In 2023, Navier announced the start of its pilot program with San Francisco Water Taxi. It will be deploying boats to ferry people around the Bay Area as a demonstration of how smaller hydrofoil craft can help reduce traffic congestion in coastal cities at a fraction of the cost and with much lower emissions than large ferries. Navier also received investments from Global Founders Capital and Google co-founder, Sergey Brin. Visit www.navierboat.com.

Core Scientific, Inc. ("Core Scientific"), a large bitcoin miner and hosting platform has presented a plan to emerge from Chapter 11 Bankruptcy after entering in November 2022. Following operational improvements and a sustained increase in the price of bitcoin, Core Scientific has returned to profitability. The Company, through an external investment vehicle, has exposure to secured convertible notes in Core Scientific and currently expects a full recovery in the value of its holdings. Visit www.corescientific.com.

Simply Better Brands Corp. ("SBBC") announced on May 30, 2023, record first quarter sales of $24.6 million, with 203% growth capturing channel, category, and innovation in clean-ingredient food, next generation skincare, and plant-based wellness. On February 22, 2023, SBBC announced the successful closing of a $2 million second tranche to fully complete its $7 million non-brokered private placement offering of units at a price of $0.25 per unit. It is anticipated that the net proceeds of the offering will be used for new product development, channel expansion, debt reduction, and general working capital purposes. Visit www.simplybetterbrands.comSBBC 2023 Outlook:Expected consolidated net sales to exceed $80 million.Expected gross margin as a percentage of net sales to be between 58% and 60%Jones Soda Co. ("Jones Soda") announced on May 4, 2023, its Q1 2023 results. Gross margin expanded by 200 basis points as Jones Soda continued to gain market share in its core soda business with the addition of new partners across its distribution channels. Visit www.jonessoda.com. First Quarter 2023 Financial Summary vs. Year-Ago QuarterRevenue was $3.9 million compared to $4.5 million.Net loss improved to $1.4 million, or $(0.01) per share, compared to a net loss of $1.7 million, or $(0.02) per share.Adjusted EBITDA was approximately $(1.1) in both quarters.

House of Lithium UpdateHouse of Lithium Ltd. ("House of Lithium") is the Company's electric mobility platform and climate tech focused subsidiary. It continues to advance towards its previously announced planned public listing while closely monitoring market conditions. The Company is confident that House of Lithium is poised for significant growth given the long-term tailwinds for the electric mobility and climate technology industries as the world continues to electrify to support the transition to lower-emission transportation and energy. Its portfolio companies have performed well and are growing rapidly.

Real Estate UpdateProgress continues to be made towards the proposed development at 2400-2500 North Miami Avenue in the Wynwood neighbourhood of Miami. A third-party appraisal of the property conducted by Colliers International estimated the market value as-is at US$65 million. The fair market value of the Company's position as of May 31, 2023, is $20.8 million. The project includes total floor area of 936,573 square feet and a total residential unit count of 542 apartments, including a mix of unit types ranging from Studios to 2+ Bedrooms with 196 units under 650 square feet and 346 units that exceed 650 square feet. The project is designed to incorporate a wide array of indoor and outdoor amenities, reflecting the unique scale and culture of the Wynwood area. The prime location of the site provides residents with immediate access to beautifully landscaped parks, a variety of indoor and outdoor dining options including food halls, and top-tier shopping destinations. Visit www.livwrk.com.

About SOL Global Investments Corp.

SOL Global is a diversified international investment and private equity holding company engaged in the small and mid-cap sectors. The Company's investment partnerships range from minority positions to large strategic holdings with active advisory mandates. The Company's primary business segments include Retail (QSR & Hospitality), Technology (with a focus on Clean-Tech and Electric Vehicles), Esports and Gaming, and New Age Wellness.

CONTACT INFORMATIONSOL Global Investments Corp.Paul Kania, Interim CEO, CFOPhone: (212) 729-9208Email: info@solglobal.com

For media inquiries, please contact: Angela Trostle Gorman AMW PR P: 212.542.3146 E: SOLGlobal@amwpr.com

Non-IFRS Financial Measures

This press release includes references to net asset value, which is a financial measure that does not have a standardized meaning prescribed by IFRS. Net asset value is calculated as the value of total assets less the value of total liabilities at a specific date. The Company believes this non-IFRS measure does not only provide management with comparable financial data for internal financial analysis but also provides meaningful supplemental information to investors. In particular, management believes this financial measure can provide information useful to its shareholders in understanding the performance of the Company and may assist in the evaluation of its business relative to that of its peers. Investors are cautioned that this non-IFRS measure should not be construed as an alternative to the measurements calculated in accordance with IFRS as, given the non- standardized meaning, it may not be comparable to similar measures presented by other issuers.

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