Mr. Kip Underwood reports

BURCON ACHIEVES FIRST COMMERCIAL PRODUCTION OF PEA PROTEIN

Burcon NutraScience Corp. has completed a successful first commercial production run of its next-generation PeazazzC pea protein at its Galesburg facility in Illinois, United States.

"The successful start-up of our Galesburg facility marks a key operational milestone in Burcon's commercial scale-up," said Kip Underwood, Burcon's chief executive officer. "In less than 90 days since commissioning, our team has brought next-generation protein production on-line, enabling us to meet accelerating customer demand and unlock scalable revenue opportunities."

Burcon remains on track to achieve key operational and financial milestones through 2025/2026. The company anticipates the following revenue targets:

• $1-million to $3-million in revenue for calendar year 2025;
• $10-million-plus in revenue for calendar year 2026;
• Positive cash flow projected to be achieved in calendar year 2026.

With commercial production now underway and ramping through the second half of 2025, Burcon is actively progressing customer supply agreements that will support long-term recurring revenue. The Galesburg facility provides meaningful capacity to scale production and positions the company to execute its growth plan, expand market penetration, and drive long-term enterprise value.

Share consolidation

Burcon announces it has consolidated its issued and outstanding common shares at a ratio of 20 preconsolidation shares to one postconsolidation share.

The shares are expected to commence trading on the TSX on a postconsolidation basis at the start of trading on June 11, 2025. The company's name and trading symbol will remain the same after the consolidation.

Peter H. Kappel, Burcon's chairman of the board, commented: "We are confidently advancing our strategic plan, and the consolidation marks a key step in optimizing our capital structure and unlocking long-term value for shareholders. This initiative is designed to attract new investors, improve the marketability of our common shares and position Burcon for future growth."

The consolidation has been approved by the board of directors of Burcon and by shareholders of the company pursuant to the share consolidation authorizing resolution approved at the company's most recent annual general and special meeting of shareholders held on Sept. 18, 2024. As discussed in greater detail in the management information circular of the company dated Aug. 1, 2024, the board believes that implementing the consolidation is in the best interests of the company as it could lead to increased interest by a wider audience of potential investors and result in less volatility resulting in a more efficient market for the common shares. The board also regularly evaluates other opportunities to increase the company's access to capital markets and the consolidation could allow the company to access other exchanges that have minimum listing requirements.

No fractional shares will be issued under the consolidation. The holdings of any shareholder who would otherwise be entitled to receive a fractional share as a result of the consolidation shall be rounded up to the next higher whole number if the fraction is 0.5 or greater and rounded down to the next lower whole number if the fraction is less than 0.5. The consolidation will not affect any shareholder's percentage ownership in the company other than by the minimal effect of the aforementioned elimination of fractional shares, even though such ownership will be represented by a smaller number of shares. Instead, the consolidation will reduce proportionately the number of shares held by all shareholders. There were 253,761,444 common shares of Burcon outstanding prior to the consolidation.

Shareholders who hold uncertificated shares (including shares held through a brokerage account and/or not represented by a physical share certificate), will have their holdings electronically adjusted by the company's transfer agent or by their brokerage firms, banks, trust or other nominees. Such shareholders do not need to take any additional actions to exchange their preconsolidation shares for postconsolidation shares. Letters of transmittal are being mailed to all registered shareholders holding share certificates with instructions on how to exchange existing share certificate(s) for new share certificate(s). A copy of the letter of transmittal will also be available on the company's profile on SEDAR+.

The company's new Cusip number for the postconsolidation shares will be 120831300 and its new ISIN number is CA1208313009.

The exercise price and number of common shares issuable upon the exercise of Burcon's outstanding warrants will be proportionately adjusted to reflect the consolidation in accordance with the terms of such securities.

About Burcon NutraScience Corp.

Burcon is a global technology leader in high-performance plant-based proteins for the food and beverage industry. The company's commercial ingredients offer superior taste, texture and functionality -- ideal for formulators seeking next-generation protein solutions. Backed by over two decades of innovation, Burcon holds an extensive patent portfolio covering novel proteins derived from pea, canola, soy, hemp, sunflower and other plant sources. As a key player in the rapidly growing plant-based market, Burcon is committed to sustainability and to creating best-in-class protein solutions that are better for people and the planet.

We seek Safe Harbor.