Planet Based Foods Global Inc. has entered into a loan agreement for total proceeds of CAD 200,000 with an arm's length party on December 1, 2023. Pursuant to the Loan Agreement, the Loan is secured against the assets of the Company and will bear interest at a rate of 10% per annum, payable by the Company to the Lender monthly until full repayment for a term of three months. Upon maturity of the Loan, all outstanding principal and interests shall be payable on February 28, 2024, unless extended in writing by mutual agreement of the Lender and the Company.

The Company may repay the Loan in full at any time prior to the end of the Term.