Bon Natural Life to implement 1-for-25 reverse stock split

Bon Natural Life (BON) will effect a 1-for-25 reverse stock split of its authorized, issued and outstanding Class A ordinary shares, par value 0.1c per share. The Reverse Stock Split will become effective at 12:01a.m., Eastern Time, on May 19. At such time, each 25 issued and outstanding Class A ordinary shares will automatically be reclassified into one new Class A ordinary share. All fractional shares will be rounded up. The Split will not alter any stockholder’s percentage interest in the company’s equity. Bon’s Class A ordinary shares will continue to trade on Nasdaq under the existing symbol “BON” and will begin trading on a split-adjusted basis when the market opens on May 19, 2025. The new CUSIP number for the Class A ordinary shares following the Reverse Stock Split will be G14492204. The Split is primarily intended to bring the company into compliance with the $1.00 minimum bid price requirement in order to maintain its listing on Nasdaq. Immediately following the Reverse Split, authorized share capital will increase to 1M Class A ordinary shares, par value 2.5c per share; 5M Class B ordinary shares, par value 0.1c per share; and 50M preference shares, par value 0.1c per share. The conversion rate of Class B ordinary shares will be convertible to Class A ordinary shares on a 1:25 basis.