Mr. Craig Goodwin reports

NATURALLY SPLENDID ANNOUNCES APPLICATION FOR MANAGEMENT CEASE TRADE ORDER

Naturally Splendid Enterprises Ltd. has made an application to the British Columbia and Alberta securities commissions to approve a temporary management case trade order (MCTO) under National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults, which, if granted, will prohibit trading securities by the company by the chief executive officer and interim chief financial officer of the company until such time as the required filings (defined herein) and all continuous disclosure requirements have been filed by the company, and the MCTO has been lifted.

During the period in which the MCTO is effective, the general public, who are not insiders of the company, will continue to be able to trade in the company's listed securities. The MCTO application has been made but there is not guarantee or assurance that the MCTO will be granted. The company expects that it will be unable to file its audited financial statements for the financial year ended Dec. 31, 2022, and the related management's discussion and analysis and interim chief executive officer and chief financial officer certificates for this period before June 30, 2023, the filing deadline.

The company's failure to file its required filings by the filing deadline is due in part to the company lacking the resources to complete the audit of the financial statements for the financial year ended Dec. 31, 2022, and the related management's discussion and analysis, while liquidating certain manufacturing equipment no longer required and proceeding with a strategic restructuring of operations as previously announced.

The company anticipates that it will be in a position to remedy the default by filing the required filings on or about June 30, 2023. The MCTO will be in effect until the required filings are filed.

During this MCTO, all management, officers and directors of the company will be prohibited from trading in the company's securities pursuant to the company's blackout procedures.

Naturally Splendid chief executive officer J. Craig Goodwin reports, "We are working towards completing the filing on or before the June 30, 2023, deadline and will continue to update our shareholders of the status of the audited financials periodically."

About Naturally Splendid Enterprises Ltd.

Naturally Splendid is a plant-based food company that distributes nutritious and delicious plant-based products. Naturally Splendid has an exclusive 10-year manufacturing and distribution agreement for Canada with a division of Australia's largest plant-based food manufacturer, Flexitarian Foods Pty. Ltd.

The company launched Plantein plant-based foods, a line of delicious plant-based meat alternatives for the rapidly growing plant-based market. The company's history includes launching, functional foods under brands such as Natera Sport, Natera Hemp Foods, CHII and Elevate Me. NSE has also developed proprietary technologies for the extraction of healthy omega 3 and 6 oils, as well as a protein concentrate from hemp.

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