Mr. Jeff Swainson reports

SIMPLY SOLVENTLESS FILES Q1 2026 FINANCIALS AND PROVIDES UPDATES ON TIMING OF FILING Q2 2026 FINANCIALS, MANAGEMENT CEASE TRADE ORDER, PRIVATE PLACEMENT AND DEBT SETTLEMENT

Simply Solventless Concentrates Ltd. has filed on SEDAR+ its financial statements for the quarter ended March 31, 2026, the related management's discussion and analysis, and the related CEO (chief executive officer) and CFO (chief financial officer) certificate (collectively, the Q1 financials), which are available on Simply Solventless's SEDAR+ profile. Simply Solventless also announces that it intends to file its financial statements for the quarter ended June 30, 2026, the related management's discussion and analysis and related CEO and CFO certificates by Aug. 31, 2026.

As previously announced, Simply Solventless entered into a restructuring process on Feb. 27, 2026. See the latest update in the following news release: CCAA Proceedings and Restructuring, dated July 28, 2026, which outlines the expected outcomes of the restructuring, including total estimated debt reductions of up to $19.9-million, and total estimated total cost reductions of up to $7.1-million per year.

Should Simply Solventless close the restructuring prior to Sept. 30, 2026, the initial impacts of the restructuring will be in Simply Solventless's financial statements and related management's discussion and analysis for the period ending Sept. 30, 2026 (Q3 2026).

MCTO update

On Aug. 21, 2026, the Alberta Securities Commission (the ASC), Simply Solventless's principal regulator, approved an extension of the previously announced management cease trade order (MCTO) under National Policy 12-203 -- Management Cease Trade Orders (NP 12-203) to Aug. 28, 2026. The filing of the Q1 financials was the last item creating a default under NP 12-203, and while Simply Solventless is unable to provide assurance as to when the MCTO will be revoked, it expects that the MCTO will be revoked in approximately two full business days.

Pursuant to the MCTO, management of SSC may not trade in securities of Simply Solventless until such time as the MCTO is revoked. The MCTO does not affect the ability of other shareholders of Simply Solventless to trade in securities of Simply Solventless. SSC confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as the MCTO remains in place.

Simply Solventless confirms that (a) there have been no failures by the company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203; (b) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default announcements; and (c) there is no other material information concerning the affairs of SSC that has not been generally disclosed. SSC will issue required biweekly updated regarding the MCTO until it is revoked.

Update on private placement and shares for debt settlement

Simply Solventless also announces the extension of its previously announced non-brokered private placement of up to 20 million units of Simply Solventless at a price of five cents per unit for aggregate gross proceeds of up to $1.0-million and settlement of up to $3.0-million convertible debentures of Simply Solventless and up to $1.6-million of promissory notes of the company in units at a price of five cents per unit. In addition, the conversion price of any debentures not settled in units will be amended from $1.00 per share to $0.15 per share and the exercise price of the common share purchase warrants issued with the debentures will be amended from $1.20 per share to 25 cents per share.

As of the date hereof, Simply Solventless has received subscriptions for $500,000 of units in the financing and elections to convert an aggregate principal amount of $2.2-million of debentures. The deadline to elect to convert debentures was July 31, 2026.

Each unit comprises one common share of Simply Solventless and one common share purchase warrant of Simply Solventless, with each warrant being exercisable for one common share of Simply Solventless at a price of 10 cents per share for a period of two years from the issuance date. The expiry date of the warrants is subject to acceleration if the volume-weighted average trading price of the common shares of Simply Solventless on the TSX Venture Exchange exceeds 18 cents for at least five consecutive trading days. All securities issued under the financing and debt settlement will be subject to a hold period expiring four months and one day from the date of issuance.

Simply Solventless expects to use the net proceeds of the financing for final restructuring professional fees, Humble pre-CCAA excise taxes, CRA excise deposits and general working capital. Simply Solventless expects to close the financing, debt settlement and debenture amendment concurrently on or before Sept. 30, 2026. Simply Solventless will provide any new information regarding timing as it becomes available.

Closing of the financing, debt settlement and debenture amendment are subject to the approval of the TSX Venture Exchange.

Further details of the financing, debt settlement and debenture amendment are available in Simply Solventless's news release dated July 28, 2026.

About Simply Solventless Concentrates Ltd.

Simply Solventless is a public company incorporated under the Business Corporations Act (Alberta). Simply Solventless's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers.

We seek Safe Harbor.