Mr. Anthony Longo reports

AEGIS BRANDS ANNOUNCES CEO TRANSITION UPDATE

Further to Aegis Brands Inc.'s news release dated May 28, 2026, Steven Pelton will be stepping down as president and chief executive officer and director of Aegis Brands, effective immediately, to pursue another professional opportunity. The board of directors thanks Mr. Pelton for his leadership and contributions to the company and wishes him continued success in his future endeavours.

As previously announced, the board is actively engaged in the search process for a new CEO. During this process, the board has determined that, given the depth and experience of the company's executive leadership team, an executive management committee comprising Melinda Lee, chief financial officer, Chris Fountain, chief operating officer, and Tara Ramsay, vice-president, people, will continue to lead the day-to-day operations, support franchisees, drive guest satisfaction and execute Aegis' strategic priorities under the oversight of the board of directors.

"The board has full confidence in our leadership team and their ability to ensure operational continuity while we conclude our search for the next CEO," said Anthony Longo, chair of the board of directors.

About Aegis Brands Inc.

Aegis Brands owns and operates the St. Louis Bar & Grill brand and holds the master franchise for the Sweet Jesus ice cream brand in Canada. Aegis is focused on growing its portfolio through strategic partnerships, disciplined expansion and operational excellence.