Mr. Mark Lotz reports

ASCENT PROVIDES BI-WEEKLY STATUS REPORT

Ascent Industries Corp. has provided this default status report pursuant to National Policy 12-203 -- Cease Trade Orders for Continuous Disclosure Defaults.

As announced in its press release dated March 12, 2020, the company's principal securities regulator, the British Columbia Securities Commission, granted a management cease trade order effective as of March 11, 2020, under NP 12-203. Upon exiting from its Companies' Creditors Arrangement Act proceedings on March 6, 2020, the company had not filed the following continuous disclosure documents prior to the filing deadlines prescribed under National Instrument 51-102 -- Continuous Disclosure Obligations: (i) its audited annual financial statements for the year ended Dec. 31, 2018, including the related management discussion and analysis, and accompanying chief executive officer and chief financial officer certifications; and (ii) its interim financial statements for the three-month period ended March 31, 2019, and related management discussion and analysis, and accompanying CEO and CFO certifications; (iii) its interim financial statements for the three-month period ended June 30, 2019, and related management discussion and analysis, and accompanying CEO and CFO certifications; and (iv) its interim financial statements for the three-month period ended Sept. 30, 2019, and related management discussion and analysis, and accompanying CEO and CFO certifications.

The company reports that there have been no material changes to the information contained in its last biweekly default status report dated March 20, 2020. Furthermore, there is no other material information concerning the affairs of the company that has not been generally disclosed. The company confirms that, since its last biweekly default status report dated March 20, 2020, there have been no failures by it in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203.

The company is required to make the annual filings and interim filings on or before April 30, 2020. The company is also working to complete the audit for 2019 and to make the 2019 annual filing together with the annual filings and interim filings. The company is required to file biweekly default status reports in accordance with NP 12-203 until such time that as the defaults in filing the annual filings and interim filings are remedied. The MCTO does not affect the ability of shareholders to trade their securities.

About Ascent Industries Corp.

The company's operations currently include facilities in the United States.

We seek Safe Harbor.