Happy Belly Food Group's Yolks Breakfast Signs 10 Unit Area Development Agreement in Atlantic Canada

Toronto, Ontario--(Newsfile Corp. - April 24, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada is pleased to announce the signing of an area development agreement for the provinces of Nova Scotia, New Brunswick, P.E.I, Newfoundland and Labrador (together the "Atlantic Provinces"). The contractual agreement will deliver 10 new locations of Yolks Breakfast ("Yolks"), a boutique restaurant brand serving delicious breakfast, brunch and lunch. With this addition, our emerging brand portfolio now has 531 units under development agreements, clearly setting the path forward for several years of predictable organic growth for Happy Belly.

Yolks 1

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"Leveraging the strong franchising interest in British Columbia and Alberta, together with our area development agreements established in Ontario and Quebec, we look forward to expanding Yolks into a leading national brand. By incorporating 4 additional provinces and securing 10 more units under development, our rollout now totals 61 contractually committed Yolks Breakfast units across 8 provinces. Our plan is to have Yolks become a recognized national brand in every province across Canada," said Sean Black, Chief Executive Officer of Happy Belly.

"This strategic move sets the course for growth of our Yolks brand over the coming years, as we continue to focus on delivering organic development in our backyard and expand our national footprint. We believe our multi branded portfolio will continue to deliver strong results and help us continue to secure some of the best available real estate in the country."

Yolks 2

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"This is another step forward in our mission to becoming a predictable and disciplined growth company. We are working to actively expand this pipeline significantly in 2025 & 2026 with our disciplined approach to growth. It is key for us to continue selecting the right franchise partners along with the right real estate to achieve our development goals for the brands."

"Establishing our presence in Atlantic Canada affirms that our accelerated franchising program and business model are well-suited for our emerging brands, as demonstrated by our organic growth across the portfolio. With breakfast remaining one of the fastest-growing restaurant sectors, we are sustaining our aggressive expansion strategy. Our proven model continues to generate substantial interest from prospective franchisees. As our plans advance, we look forward to sharing details about our initial real estate locations. Our overarching strategy has consistently focused on developing and growing emerging brands within the food sector. With the continued rollout of our franchising initiative, we anticipate these new locations will significantly contribute to the company's revenue and profitability."

We are just getting started.

Yolks 3

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About Yolks Breakfast
Chef Steve Ewing is a strong proponent of breakfast - it's his favourite meal of the day - which is why its so important to him and why he takes so much care and puts so much effort into its menu. Not only are the eggs free-range, but the bacon is local and the hollandaise isn't some quickie version, but the real deal, just one fast whisking away from le Cordon Bleu. Even the Dijon is made in-house!

Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a dynamic multi-branded restaurant company focused on acquiring and scaling emerging food brands across Canada. With a robust portfolio of brands Happy Belly is dedicated to delivering quality, efficiency, and exceptional customer experiences nationwide.

Happy Belly Food Group

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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

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