Burcon Announces Shareholder Meeting Results and Updates Commercial Guidance

Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) ("Burcon" or the "Company"), a global technology leader in plant-based protein innovation, today announced the results of its Annual General and Special Meeting of Shareholders (the " Meeting ") and provided an update to its commercial guidance.

All of the six nominees set out in Burcon's amended and restated management proxy circular dated September 4, 2026 proposed by management for election to the board of directors at the Meeting were elected to the board. Each director elected will hold office until the conclusion of the next annual general meeting of shareholders of Burcon or until his successor is elected or appointed, unless his office is earlier vacated in accordance with Burcon's articles or with applicable law.

Shareholders of the Company also approved the appointment of KPMG LLP as auditors of the Company and the resolutions related to the Company's private placement of convertible debentures (the " Convertible Debenture Financing "). Disinterested shareholder approval was obtained in connection with a certain resolution in relation to the Convertible Debenture Financing. The Company has filed a report of voting results setting out the full details of the voting results for each resolution passed at the Meeting on the SEDAR+ website at www.sedarplus.ca.

With the required shareholder approvals received, Burcon intends to proceed with the previously announced Convertible Debenture Financing for aggregate principal proceeds of up to $21 million, subject to final approval of the Toronto Stock Exchange (the " TSX ") and satisfaction of the remaining closing conditions.

Burcon is updating its previously announced commercial guidance and now expects: At least $6 million in revenue for calendar year 2026; An annualized revenue run rate of at least $10 million exiting calendar year 2026; Continued expansion in customer demand and the commercial pipeline; and Positive cash flow to be achieved in calendar year 2027.

The revised outlook for calendar year 2026 reflects the timing of Burcon's production ramp and the additional equipment, infrastructure and process improvements required to support increasing commercial volumes. Production ramp timing primarily reflects solutions Burcon implemented to enhance reliability of the manufacturing platform and its decision to accelerate investments to support those solutions and scalability of the platform as its business grows. Customer demand and commercial activity continue to expand, and Burcon believes the investments being made in its production platform will enable the Company to more effectively convert this growing demand into revenue as additional capacity comes online.

As previously disclosed, a significant portion of the capital being raised in the Convertible Debenture Financing is intended to support investments in production capability, infrastructure, maintenance programs, and production efficiency at the Galesburg production facility. These investments are expected to improve overall plant reliability and position Burcon to support increasing customer demand at greater scale.

"Our customer demand and commercial pipeline continue to expand, strengthening our confidence in the opportunity ahead," said Kip Underwood, Chief Executive Officer of Burcon. "The adjustment to our 2026 outlook reflects the timing of our production ramp and the in...