Forward Looking Statement

DISCLAIMER

This confidential presentation of Else Nutrition Holdings Inc. (“Else”) is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell or issue, or subscribe for any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This confidential presentation is not, and under no circumstances is to be construed as, a prospectus, advertisement, or prospectus offering of securities. This confidential presentation is for the confidential use of only those persons to whom it is transmitted or provided by Else. By their acceptance of this confidential presentation, recipients agree that they will not transmit, reproduce or make available to any person, other than to their professional advisors, this confidential presentation or any of the information contained herein.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain information included in this confidential presentation, including any information as to future financial or operating performance and other statements that express expectations or estimates of future performance, constitute “forward-looking statements”. Forward-looking statements can be identified by words such as: “will be”, “forecast” “future,” “beyond”, “potential”, “planned” “will” or variations of such words and phrases or similar references to future periods. Forward-looking statements in this document include, but are not limited to, statements with respect to the growth rate of the infant formula market; the projected market value of organic baby food worldwide in 2025; the number of countries for which patents will be granted; the characteristics of Else’s potential product portfolio; the completion of Pre-Production scale up runs and the timing thereof; the completion of first commercial production and the timing thereof; the launch of a new website and e-store and the timing thereof; the creation of the new product lines in the Functional Foods and Whole Meal Snacks product categories, and the depictions.

and descriptions of such products; the completion of Licensing Agreements for the Dairy Product Substitutes and Whole Meal Snacks product categories, and the depictions and descriptions of such underlying products; and the planned expansion into North American and international markets. Forward-looking statements are necessarily based upon a number of estimates and assum-ptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Furthermore, forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual financial results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements, and the forward-looking statements are not guarantees of future performance.

Factors, assumptions and risks that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, consumer demand for Else’s products, whether the Else current and future products achieve commercialization, including completing the scale-up and, for certain products, regulatory approval, protecting the patents for the baby formula and further IP maintenance, receiving the necessary regulatory approvals to market and distribute the Else products, uncertainty regarding material changes in laws and regulations, including consumer protection and food regulations, retention of key personnel of Else involved in the production, testing and sale of the baby formula, the activities of competitors, and all related matters, including successful integration of the Golden Heart business, Else’s ability to expand into global markets, general economic and political conditions and other more detailed risks, uncertainties and assumptions set out under the heading “Risk Factors” in Else’s filing statement, which is available on www.sedar.com under the issuer profile of Else. Except as required by law, Else disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Readers are cautioned not to put undue reliance on these forward-looking statements, and not to use this document as their sole source for decision making. Readers are encouraged to seek additional information and independent advice. This confidential presentation contains information that is subject to change without notice and is based on publicly available information, internally developed data, and information obtained by Else from third parties, including but not limited to market data and to the biographies of individuals serving as advisors to Else. Else believes such information to be accurate but has not independently verified such information. To the extent such information is obtained from third-party sources, there is a risk that the assumptions made and conclusions drawn by Else based on such representations are not accurate. No warranties or representations can be made as to the origin, validity, accuracy, completeness, currency or reliability of the information. Else disclaims and excludes all liability (to the extent permitted by law), for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information in this confidential presentation, its accuracy, completeness or by reason of reliance by any person on any of it. This confidential presentation should not be construed as legal, financial or tax advice to any individual. The information contained in this confidential presentation is not directed to persons or entities resident in the United States and does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation, unless otherwise exempt from United States securities legislation. Any forward-looking statement made in this confidential presentation, including orally, is based only on information currently available as of the date on which it is made.