Above Food Expects FY25 Audited Results By January 2026; Reaffirms FY26 Profitability Ahead Of Palm Global Merger

Above Food Ingredients Inc. (NASDAQ:ABVE) ("Above Food" or the "Company") is pleased to confirm that it expects to report its audited financial results for the fiscal year ended January 31, 2025 before the end of January 2026, thereby satisfying all applicable Nasdaq reporting requirements and paving the way for the next phase of the Company's transformative merger with Palm Global. This timing follows the Company's update of December 12, 2025 and reflects the additional technical procedures required to fully capture - and audit - the substantial value created through the Company's comprehensive restructuring initiatives. Above Food reiterates that a significant portion of the audit work has already been completed. Furthermore, there are no known audit issues, no disagreements with its auditors, and no matters of contention that could impede completion. The timing of the filing is solely attributable to the scale and complexity of the work undertaken.

The Company confirms that it has received the customary Staff Determination Letter from The Nasdaq Stock Market LLC ("Nasdaq") regarding Listing Rule 5250(c)(1) in connection with the filing of its Form 20-F. In accordance with standard procedure, the Company has requested the usual 180-day extension, which is expected to be reviewed and granted by the Hearings Panel within 30 to 45 days. As Above Food expects to file its audited financial results on Form 20-F within January 2026 and thereby regain full compliance well ahead of the extension period, the Company does not anticipate that a hearing will be required.

As referenced previously, during the fiscal year ended January 31, 2025, Above Food completed the restructuring of its legacy business, including associated write-offs, clean-ups, and the removal of non-core or non-performing assets. As a result, the Company benefits from a significantly strengthened and streamlined balance sheet for the fiscal year ended January 31, 2026, positioning Above Food for sustainable growth, improved capital efficiency, and enhanced strategic flexibility.

The Company is also pleased to reaffirm that it expects to deliver exceptionally strong profitability for the fiscal year ending January 31, 2026. Above Food reiterates that its previously announced profit target will be met or exceeded, reflecting the benefits of the restructuring, continued operational discipline, and robust performance of the business.

Above Food's merger partner, Palm Global, is fully apprised of and supportive of this process, and the Company is pleased to report that the planned merger is expected to proceed to final closing very shortly after the filing of the results. The significance of this transaction is profound. Palm Global's rapidly expanding digital-currency and real-world asset-tokenization ecosystem - combined with the considerable value of the gold and metals-based assets on its balance sheet - is positioned to deliver transformative growth and unlock shareholder value on a scale far beyond Above Food's current valuation. The merger represents a highly value-accretive catalyst for the Company, marking the beginning of an exciting new chapter of scale, profitability, and global market leadership.