Mr. Eric Ronsse reports

MERCANTO HOLDINGS ANNOUNCES BOARD CHANGE AND PROVIDES NORMAL COURSE ISSUER BID UPDATE

Steve Saviuk has resigned from Mercanto Holdings Inc.'s board of directors, effective Oct. 8, 2026, and is focusing on his other business ventures.

Mr. Saviuk joined the board in April, 2021, when the company became a public issuer, and chaired its audit committee throughout his tenure. Drawing on more than 30 years in venture capital and public-company leadership, he helped guide the company through its transition to the public markets and was a steady source of advice on issuer requirements, continuous disclosure, financial reporting and governance best practices. He gave generously of his time and experience.

The board thanks Mr. Saviuk for his contributions and his collegiality over the past five years. He will be missed, and the board wishes him every success in his future endeavours.

Normal course issuer bid update

Since its normal course issuer bid commenced on July 15, 2026 (the NCIB), the company has purchased a total of 163,000 common shares through Raymond James Ltd. as at Sept. 30, 2026, at a weighted average price of 12.35 cents per share (excluding commissions), for aggregate consideration of approximately $20,130. All shares are purchased for cancellation. Up to 2,688,771 common shares remain available for purchase under the NCIB, which will terminate no later than July 14, 2027.

The company intends to continue purchasing shares opportunistically under the NCIB and may increase the pace of its purchases, depending on market conditions, the trading price of its shares and its cash position. All purchases are made through the facilities of the TSX Venture Exchange in accordance with its policies and applicable securities laws, and are funded from working capital.

Fiscal 2026 results

The company expects to report its audited results for the year ended July 31, 2026, by the end of November, 2026.

About Mercanto Holdings Inc.

Mercanto Holdings is a Quebec-based house of cannabis and wellness brands. Through its wholly owned subsidiary Teonan Biomedical Inc., a Health Canada standard processing licence holder, the company develops, manufactures and markets Nordique Royale (hash and vape cartridges), Velada (capsules, hash and prerolls) and Le P'tit Snack (edibles), sold through provincially authorized retailers, primarily in Quebec.

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