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CAROL STREAM, Ill., July 9, 2024 – The Fresh Factory B.C. Ltd. (TSXV: FRSH) (FRA: Q4Z) (“The Fresh Factory” or the “Company”), a mission-driven company for fresh, clean-label, and better-for-you food and beverage brands, today announced the signing of a new lease agreement for a state-of-the-art 56,000-square-foot facility located in Downers Grove, Illinois. This strategic expansion is expected to significantly enhance The Fresh Factory’s production capabilities and streamline its operations, positioning the Company for future growth.

“This new facility marks the next step forward in expanding our footprint to build the infrastructure for tomorrow’s food and beverage needs,” said Bill Besenhofer, CEO and co-founder of The Fresh Factory. “It allows us to bring on more equipment, increase vertical integration, and set the stage for our next phase of growth.”

The new facility, located at 3600 Lacey Rd, Downers Grove, just 12 miles from the Company’s Carol Stream production facility, will feature significant enhancements, including an anticipated 200 pallet positions for frozen storage, 1,000 pallet positions for refrigerated storage, and 1,800 pallet positions for dry storage. Additionally, it will feature more than 12,000 square feet of production space and modern, spacious office areas designed to support increased administrative functions.

Figure 1: The Fresh Factory’s new facility located at 3600 Lacey Rd, Downers Grove, Illinois.

With the addition of the new facility, completed in 2019, The Fresh Factory now features a large space with ceilings up to 36 feet high. The Company plans to build an R&D lab and a customer-experience center to foster collaboration. The new facility is expected to be fully operational in Q4 2024.

“We are excited about the opportunities this new space provides,” added Besenhofer. “It will not only allow us to increase our production capacity but also support innovation and strengthen our customer relationships through enhanced collaboration spaces.”

This expansion aligns with The Fresh Factory’s commitment to providing honest, clean-label food for all, reinforcing its position as a leader in the fresh, clean-label, and better-for-you food and beverage market.

About The Fresh Factory B.C. Ltd.

The Fresh Factory is a vertically integrated company focused on accelerating the growth of the fresh, clean-label, plant-based food and beverage brands of tomorrow. The Fresh Factory owns or partners with emerging brands in the plant-based space to develop, manufacture, and sell products made from fresh produce and recognizable ingredients. It operates from its centrally located manufacturing facility near Chicago, serving customers across the United States. As a public benefits corporation, The Fresh Factory is ESG-focused, driven to make a lighter, greener impact on the environment and a stronger, positive impact on local communities and the food system as a whole. Learn more about The Fresh Factory at www.thefreshfactory.co and find The Fresh Factory on social media at Instagram, Twitter, and LinkedIn.

Contacts

Bill Besenhofer
CEO and Co-founder
1-877-495-1638
info@thefreshfactory.co

Susan Xu
Media and Investor Relations
1-877-495-1638
healthyinvestors@thefreshfactory.co

Forward-Looking Statements

This news release contains “forward-looking statements” or “forward-looking information” (collectively referred to hereafter as “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, including statements about the Company’s new product offerings, its ability to execute on its goals, general macro and micro economic impacts of inflation on the business and operation of the Company, the timing pertaining to these goals and receipt of applicable consents and approvals, and Company’s business prospects, future trends, plans, and strategies. In some cases, forward-looking statements are preceded by, followed by, or include words such as “may”, “will,” “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “proposes”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, “anticipate” or the negative of those words or other similar or comparable words. Although the management of the Company believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that a forward-looking statement herein will prove to be accurate. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting its industry, can be found in the final long-form prospectus of the Company dated November 10, 2021, and the Company’s continuous disclosure record available on SEDAR+ at www.sedarplus.ca. Such cautionary statements qualify all forward-looking statements made in this news release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.