Mr. Kip Underwood reports

BURCON ANNOUNCES SHAREHOLDER MEETING RESULTS AND UPDATES COMMERCIAL GUIDANCE

Burcon NutraScience Corp. has released the results of its annual general and special meeting of shareholders and provided an update to its commercial guidance.

Annual general and special meeting results

All of the six nominees set out in Burcon's amended and restated management proxy circular dated Sept. 4, 2026, proposed by management for election to the board of directors at the meeting were elected to the board. Each director elected will hold office until the conclusion of the next annual general meeting of shareholders of Burcon, or until his successor is elected or appointed, unless his office is earlier vacated in accordance with Burcon's articles or with applicable law.

The results of the voting on the election of the directors are provided in the attached table.

Shareholders of the company also approved the appointment of KPMG LLP as the auditor of the company and the resolutions related to the company's private placement of convertible debentures. Disinterested shareholder approval was obtained in connection with a certain resolution in relation to the convertible debenture financing. The company has filed a report of voting results setting out the full details of the voting results for each resolution passed at the meeting on SEDAR+.

With the required shareholder approvals received, Burcon intends to proceed with the previously announced convertible debenture financing for aggregate principal proceeds of up to $21-million, subject to final approval of the Toronto Stock Exchange and satisfaction of the remaining closing conditions.

Updated commercial guidance

Burcon is updating its previously announced commercial guidance and now expects:

• At least $6-million in revenue for calendar year 2026;
• An annualized revenue run rate of at least $10-million exiting calendar year 2026;
• Continued expansion in customer demand and the commercial pipeline;
• Positive cash flow to be achieved in calendar year 2027.

The revised outlook for calendar year 2026 reflects the timing of Burcon's production ramp and the additional equipment, infrastructure and process improvements required to support increasing commercial volumes. Production ramp timing primarily reflects solutions Burcon implemented to enhance reliability of the manufacturing platform and its decision to accelerate investments to support those solutions and scalability of the platform as its business grows.

Customer demand and commercial activity continue to expand, and Burcon believes the investments being made in its production platform will enable the company to more effectively convert this growing demand into revenue as additional capacity comes on line.

As previously disclosed, a significant portion of the capital being raised in the convertible debenture financing is intended to support investments in production capability, infrastructure, maintenance programs and production efficiency at the Galesburg production facility. These investments are expected to improve overall plant reliability and position Burcon to support increasing customer demand at greater scale.

"Our customer demand and commercial pipeline continue to expand, strengthening our confidence in the opportunity ahead," said Kip Underwood, chief executive officer of Burcon. "The adjustment to our 2026 outlook reflects the timing of our production ramp and the investments required to reliably support that growing demand. While this shifts the timing of revenue we previously anticipated, we expect to exit 2026 at a significantly higher revenue run rate and believe the investments we are making today position Burcon to support continued commercial growth as we move into 2027."

Burcon continues to advance the commercialization of its differentiated pea, fava and canola protein portfolio. The company believes its growing commercial activity, combined with planned investments in its production platform, positions Burcon to capture increasing demand for high-performance protein ingredients.

About Burcon NutraScience Corp.

Burcon is a global technology leader in plant-based proteins for food and beverage applications. The company has developed a portfolio of high performance protein ingredients, including Peazzaz pea proteins, FavaPro fava proteins and Puratein canola proteins, and is focused on commercializing its technologies through manufacturing partnerships and growing customer adoption worldwide.

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