Nutritional Growth Solutions Ltd. announced that the number of Walmart stores which NGS products are stocked in has been increased from 409 to 465 stores, representing an increase of 56 stores, with products to become available in the additional stores from May 2023. The increase in the number of stores follows NGS' continued strong performance in the Growing Up Milk Category, with the Company now achieving a Sales Velocity (number of units sold per store per week) of 1.2 in over 84% of Walmart stores and 0.96 across all stores, significantly exceeding expectations. The Company remains strongly focused on expanding its US business with newly appointed CEO, Steve Turner, driving the next stage of growth.

NGS aims to increase revenues in the US by further increasing Walmart Sales Velocity through continued execution of a strategic and targeted North American marketing campaign, with further increases in Sales Velocity likely to organically result in an increase in the total number of Walmart stores in which NGS products are stocked. The Company will also continue to work with its US sales, distribution and marketing partners to gain further retail distribution in the US, and NGS expects other major US retailers to leverage off the proven sales through Walmart. A new NGS product, Happy Tummies, which has been developed in collaboration with the merchant team of Walmart, is to be stocked in stores in Quarter 3/Quarter 4 of the 2022 Calendar Year, and the Company will continue to work with the Walmart buyers to identify future opportunities for further product development.