Mr. Marc Aneed reports

EAT WELL GROUP REPORTS FOURTH QUARTER AND FULL-YEAR 2021 FINANCIAL RESULTS

Eat Well Investment Group Inc. has released its fourth quarter and full-year 2021 financial results.

Eat Well 2021 highlights:

• Acquired all outstanding shares of Belle Pulses Ltd. and Sapientia Technology LLC and a 51-per-cent majority equity interest in Pata Foods (doing business as Amara Organic Foods), creating the foundation for Eat Well's plant-based food investment platform;
• Total Eat Well assets at the company's fiscal year-end, including its portfolio companies, increased 1,082 per cent from $5,043,430 at Nov. 30, 2020, to $59,627,414 at Nov. 30, 2021;
• Raised $33.5-million of debt from a leading Canadian institution and completed two subsequent event equity financings of $5.1-million and $5,018,000;
• Bolstered the company's board of directors and expanded the company's senior management team with additional expertise in plant-based food investing, consumer packaged goods investing and strong governance, bringing in over 150 years of collective experience;
• Built an exceptional advisory board with proven leaders from across the globe, with significant consumer product backgrounds and experience in plant-based food innovation, technology and commercialization.

Portfolio company highlights:

• As reported in the Belle Pulses, Sapientia Technology and Amara Organic Foods unaudited financial statements for the 12-month period ended Dec. 31, 2021, Eat Well's portfolio companies generated combined revenues of $57,936,019 in 2021.
• On a combined basis, Belle Pulses, Sapientia and Amara generated positive net earnings of $1,478,420 in the face of challenging geopolitical conditions, a heightened inflationary environment, adverse weather conditions, multiple waves of COVID-19 and a global supply chain crisis.
• Belle Pulses expects improved margin performance in 2022 due to normalizing supply chains and improvement with COVID-19-related restrictions, plus strong global demand, intensified by the Russian/Ukrainian conflict disrupting pulse supply overseas.
• Sapientia launched its first white-labelled protein twists with Federated Co-Op stores in Western Canada, rolling out across 350 stores beginning in December, 2021, with continuing discussions to increase store count by another several hundred stores. The protein twists were recognized as a finalist in the Canadian Grand Prix new product awards.
• For fiscal year 2021, Amara achieved revenue gains of 320 per cent over 2020, led by its successful toddler melts product launch across North American retail.
• Amara Organic Foods continues to expand its reach to new consumers, ending the year with approximately 6,000 total points of distribution across North American retail across highly strategic retail, including Walmart Canada, Sobeys, HEB, Loblaw and more.
• The company reiterates 2022 revenue guidance for its investee companies of $90-million to $110-million with bottom line profitability of the combined investments expected to improve throughout the calendar year.

Since the close of Eat Well's three plant-based investments, the portfolio companies have continued to execute on their respective growth plans. Belle Pulses was able to navigate through multiple COVID-19- and supply-chain-related challenges, Sapientia launched multiple flavours of its first white-label products with Federated Co-Op, and Amara continued to expand its distribution and presence across some of the largest bricks and mortar and e-commerce stores in North America, eclipsing 6,000 total distribution points.

Outlook

"We have laid a strong foundation within the Eat Well Group investment platform, and we are very enthusiastic about the trajectory of our portfolio," commented Marc Aneed, the company's director, president and chief executive officer. "The global plant-based foods market continues to rapidly expand as consumers make healthier decisions for themselves and their families. Our portfolio companies are well positioned to capture global pulse demand and accelerate the scale of their better-for-you consumer products for years to come," continued Mr. Aneed.

The importance of high-quality, transparent and sustainably produced agricultural products and pulse crops has become critical on a global scale. Eat Well's investments are well positioned to take their fundamental propositions to the next level and continue to fuel the world's plant-based consumption needs. Portfolio investments will continue to drive capacity, innovation, scale, distribution and fiscal discipline.

The company's previously announced interest in pursuing a listing on U.S. public markets, including a potential Nasdaq or New York Stock Exchange listing, continues to progress as opportunities are being explored with Roth Capital.

About Eat Well Investment Group Inc.

Eat Well is a publicly traded investment company primarily focused on high-growth companies in the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well's management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries, and maintains a current investment mandate on the health/wellness industry. The team has financed and invested in early-stage venture companies for greater than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns.

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