Following Successful Year Nepra Foods Issues Letter from CEO

VANCOUVER, BC / ACCESSWIRE / January 5, 2022 / Nepra Foods Inc. ("Nepra") (CSE:NPRA)(FSE:2P6.F)(OTC PINK:NPRFF), creator of nutritious plant-based and allergen-free food, is pleased to share a letter to shareholders from CEO David Wood.

Dear Fellow Shareholders,

This past year has been an exceptional and transformational year for Nepra Foods. We continued to build on our track record of revenue growth for the 5^th year in a row, with a 150% year-on-year growth, which was facilitated by an expansion of our production and office space in January. We also completed an oversubscribed initial public offering (IPO) in September, which allows us to further expand our business and develop exciting new product verticals.

Building from last year's success, we will be adding two new revenue streams which are synergistic with our underlying wholesale ingredient business. The first of which will be our consumer-packaged plant-based high-protein frozen meals into both traditional and natural retail channels with our PROPASTA^TM line. The second will be to market our semi-finished meal components such as textured plant proteins, plant-based cheeses, high protein pastas, and blended dry mixes into the institutional foodservice market including restaurant chains, schools, and hospitals. These products utilize the same input materials, allowing for rapid scaling and providing further economies of scale through the synergy with our underlying ingredient business. A systemic shift in consumer preferences and market trend towards healthier eating, including more plant-based and sustainable meal options, puts us at the forefront of this movement and marks this as an ideal time to grow into these markets.

Our underlying wholesale ingredient business continues to show aggressive year-over-year growth in 2022. While the industry, in general, has been plagued by logistical challenges and heightened costs, Nepra Foods' supply chains have proven to be resilient and largely unimpacted. While pricing pressure at the wholesale level is expected to continue to rise this year, we have been able to mitigate this given the proprietary nature of our ingredients which allows us to pass on the increases through to our customers and maintain our margins. This year we will also be adding several new specialty ingredients to our imported line of starches, plant proteins, and fibers which are designed to solve specific problems for our industrial food-producing customers and initial responses have been highly positive. As such, we anticipate these new products will play a substantial role in driving significant growth.