Mr. Michael Saxon reports

TAAT PROVIDES UPDATE ON PLANNED AUSTRIA LAUNCH AND NASDAQ CAPITAL MARKET APPLICATION, AS WELL AS CORPORATE UPDATE FOR FIRST HALF OF CALENDAR 2023

TAAT Global Alternatives Inc. has provided an update with respect to its planned launch of TAAT in Austria, as well as the company's application to list its common shares on the Nasdaq Capital Market.

As a result of a review by the B.C. Securities Commission, it is issuing the following press release to update its disclosure.

Update regarding planned launch of TAAT in Austria

In a press release dated Nov. 5, 2021, the company announced that it had finalized its first commercial order for the planned launch of the TAAT product in Austria. Although there was significant interest from adult smokers in addition to retail and wholesale partners in the Austrian market, the company elected to suspend this launch indefinitely on account of the financial and marketing resources that would be required to facilitate a successful launch for the sake of prioritizing its continuing rollouts in existing markets at the time.

Update regarding application for listing on the Nasdaq Capital Market

In a press release dated April 23, 2021, the company announced that it had submitted its initial application for its common shares to be listed on the Nasdaq Capital Market. At the time, the company's management had reached the conclusion that all requirements as stipulated by the Nasdaq Stock Market for listing on the Nasdaq Capital Market were sufficiently met. However, it was not possible for the application to move forward, and as such, the company elected to suspend its application for listing its common shares on the Nasdaq Capital Market.

Furthermore, the company provides the following corporate update regarding its performance and activities during the first half of the 2023 calendar year.

In an effort to improve the company's financial health, management has undertaken a reorganization of its subsidiaries based in Las Vegas, Nev., which includes migrating certain production and fulfilment duties to third party service providers and reducing staff to mitigate overhead expenses. Additionally, management is reviewing marketing initiatives for its product lines (TAAT and Jayvees) to increase sales with greater cost-efficiency.

The company's subsidiary, Adco Distributors Inc., continues to perform well, and has recently introduced new non-traditional and high-margin products to its customer base, including the Jayvees product line.

TAAT chief executive officer Michael Saxon commented: "By reorganizing the company's subsidiaries, we have been able to reduce our capital and labour burdens, which can allow the company to continue operations in the future. Much of our production was already outsourced to the east coast of the United States, which has proved to be a beneficial configuration for the company's operations. We look forward to providing an update with our fiscal [second quarter] 2023 financials in the near future, as well as updates regarding any other potential material developments."

About TAAT Global Alternatives Inc.

TAAT is a vertically integrated consumer product and distribution company, generating more than $90-million in overall gross revenue annually. TAAT is strategically expanding its product categories, including tobacco and reduced-risk alternatives, hemp, kratom, and other emerging consumer packaged goods segments. TAAT has facilities to include a processing plant in Nevada, as well as a distribution centre in Canton, Ohio, leveraging existing retail shelf space and pipelines into national wholesale channels.

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