The Fresh Factory Reports Fiscal 2023 Results with Record Annual Total Billed Revenue of $23.7M

• The Company reported a record full-year billed revenue of $23.7M (CAD $32.5M), representing a year-over-year increase of 16.7% from 2022.
• The Company recorded its highest-ever quarterly billed revenue of $6.5M (CAD $8.9M), compared to the previous quarterly record of $5.9M (CAD $7.9M) achieved in Q4 2022, or a 10.2% increase.
• December 2023 had the highest-billed monthly revenue in Company history at $2.4M (CAD $3.3M).
• The Company achieved an adjusted EBITDA of +$0.1M (CAD +$0.1M ) in Q4 2023, marking it the second consecutive quarter of positive performance.
• On October 5, 2023, the Company began trading on the TSX Venture Exchange ("TSXV") and concurrently was delisted from the Canadian Securities Exchange ("CSE"). Following listing on the TSXV, the Company commenced a Normal Course Issuer Bid ("NCIB").
• The Company expanded its full-time employees by 9.0% in 2023 to support its continued growth.

CAROL STREAM, IL / ACCESSWIRE / April 30, 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, reports financial results for the fourth quarter and fiscal year ending December 31, 2023 ("Q4 2023" and "Fiscal 2023," respectively).

Bill Besenhofer, Chief Executive Officer and co-founder of The Fresh Factory, commented: "2023 was a record year for us, with the highest yearly, quarterly (Q4 2023), and monthly (December 2023) total billed revenue in our history. Our entire team demonstrated outstanding growth and resilience, setting new benchmarks in revenue, operational performance, and throughput. Since going public two years ago, we have nearly doubled our revenue and unit volume. We continued to increase operational performance and were adjusted EBITDA-positive for the last two quarters of the year. The next marker is EBITDA-positive, and the longer-term goal still remains net Income positive. We come into 2024 with very strong momentum as our continued commitment to delivering quality products and optimizing operational efficiencies help set this year up for success. We will continue investing in our manufacturing capabilities and our team to help drive profitable growth."