Planet Based issues 5.71M debt shares to Baron

Mr. David Eaton reports BARON GLOBAL FINANCIAL CANADA LTD. EARLY WARNING REPORT Baron Global Financial Canada Ltd., a company of which David Eaton is a director, filed an early warning report in connection with the acquisition of 5,714,285 subordinate voting shares in the capital of Planet Based Foods Global Inc. on Aug. 28, 2025, in settlement of outstanding indebtedness. Prior to the acquisition, the acquiror did not hold any securities of the issuer, but its director, Mr. Eaton, owned 214,200 subordinate voting shares in the issuer, representing a negligible voting interest in the issuer. Upon completion of the acquisition, the acquiror beneficially held and/or had control over an aggregate of 5,714,285, representing approximately 16.14 per cent (or 16.66 per cent including Mr. Eaton's personal holdings) of the issued and outstanding subordinate voting shares of the issuer. The shares were acquired for the purpose of settling a bona fide debt in the aggregate amount of $300,000 owing by the issuer to the acquiror. The director of the acquiror, Mr. Eaton, is an insider of the issuer by virtue of his appointment as a director of the issuer. Subject to compliance with applicable securities laws, the acquiror may, from time to time and depending on market and other conditions, acquire additional shares and/or other equity, debt, or other securities or instruments of the issuer in the open market or otherwise, and reserves the right to dispose of any or all of the securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities. This press release is issued pursuant to the early warning requirements of National Instrument 62-104 and National Instrument 62-103, which also require a report to be filed with securities regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters. A copy of the early warning report has been filed and is available under the issuer's SEDAR+ profile.