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Maple Leaf Green World Inc
Symbol MGW
Shares Issued 27,477,394
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Maple Leaf Green World's Gao resigns as finance VP

2026-05-22 16:50 ET - News Release

Subject: News Release PDF Document

File: Attachment Press Release - 05-22-2026 Maple Leaf Announces Officer Changes and Reconstitution of Audit Committee.pdf

Maple Leaf Green World Inc. Announces Officer Change and Reconstitution of Audit Committee

For Immediate Release May 22, 2026

Calgary, Alberta May 22, 2026 Maple Leaf Green World Inc. (CSE: MGW | OTC: MGWFF) (the "Company" or "Maple Leaf") announces a change to its officers and the reconstitution of its audit committee (the "Audit Committee"). These changes follow the Company's news release of May 20, 2026, in which the Company announced the appointment of Mr. Louis Kin Man Sing as an independent director, effective May 19, 2026.

Officer Change Mr. Winston Wentong Gao has resigned as the Company's Vice President, Finance and Public Relations, effective May 21, 2026. Mr. Gao will continue to serve as a director of the Company in a non-management (non-executive) capacity. Mr. Gao remains a non-independent director for the purposes of National Instrument 52-110 Audit Committees ("NI 52-110").

Reconstitution of Audit Committee In connection with the appointment of Mr. Sing, the Board of Directors reconstituted the Audit Committee. Mr. Raymond Lai resigns from the Audit Committee but continues to serve as President, Chief Executive Officer, Chairman and a director of the Company. Mr. Sing was appointed to the Audit Committee, which now comprises Mr. Thomas West (Chair), Mr. Louis Kin Man Sing and Mr. Winston Wentong Gao. The Board has determined that each of Mr. West and Mr. Sing is "independent", and that Mr. Sing is "financially literate", within the meaning of NI 52-110.

None of the three members of the Audit Committee is an executive officer, employee or control person of the Company or an affiliate of the Company. Accordingly, the reconstituted Audit Committee complies with the majority requirement of section 6.1.1(3) of NI 52-110 applicable to venture issuers.

The foregoing changes were undertaken as part of the Company's ongoing efforts to remediate its continuous disclosure record and to seek revocation of the failure-to-file cease trade order (the "FFCTO") issued by the Alberta Securities Commission on May 6, 2025.

Update on Cease Trade Order Revocation The Company has continued to advance its efforts to obtain revocation of the FFCTO. The Company has filed its audited annual financial statements, management's discussion and analysis and related certifications for the year ended December 31, 2025, together with a standalone Statement of Executive Compensation (Form 51-102F6V), and has been responding to the continuous disclosure review comments of the Alberta Securities Commission. The Company has also addressed the audit committee composition matter described above and has satisfied outstanding regulatory filing and participation fees. As such, the Company has requested Alberta Securities Commission to revoke the FFCTO accordingly.

About Maple Leaf Green World Inc. Maple Leaf Green World Inc. is a development-stage issuer incorporated under the laws of the Province of Alberta, with common shares listed on the Canadian Securities Exchange (CSE: MGW). Maple Leaf is focused on green and environmentally friendly business initiatives and aims to contribute to a more sustainable future. Forward-Looking Information This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding the composition of the Board and Audit Committee, the Company's continuous disclosure remediation, and the anticipated revocation of the FFCTO. Forward- looking information reflects management's current expectations and is based on assumptions and subject to risks and uncertainties that may cause actual results to differ materially, including the risk that the FFCTO is not revoked or that required regulatory steps are not completed. Except as required by law, the Company undertakes no obligation to update any forward-looking information, whether as a result of new information, future events or otherwise.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the matters described in this release.

For further information, please contact:

Maple Leaf Green World Inc. Raymond Lai President and Chief Executive Officer Email: rlai@mlgreenworld.com

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