SavorEat : The company’s board decided to focus the company’s activities until the end of the first half of 2024 mainly on the development of the ‘robot-chef’ system, consequences

This is the English translation of the company’s immediate report in Hebrew published on December 18, 2022. [Reference no.: 2022-01-151951] (“Hebrew versionThis English version is used for convenience only. This is not an official translation and is not binding. The preparation of this document requires reasonable care and skill, and no translation perfectly reflects the Hebrew version. In the event of any conflict between the Hebrew version and this translation, the Hebrew version shall prevail.

We hereby wish to renew our Board of Directors on December 14, 2022.

Until the first half of 2024, we have decided to focus primarily on developing our own “robot chef” system.1 while adopting the necessary budget

Change(“decision) This is actually the main

research and development procedures related to the design and manufacture of unique formulations for existing and/or new products;2 It is necessary at this stage to realize the business model.

3

Subject to the decision, during the above period, we will primarily

(-) Completion of production of several “Robot Chef” systems

(Version 1.1) US market qualified (includes compliance with US regulations and standards); (-)

Completion of the development steps for an advanced commercial version of the system

(version 2.0); (-) Start and completion of planned commercial release of version

1.1 We built a system jointly with Sodexo at a university in Denver, USA. (-) conducting commercial exposure activities in Israel (through existing and/or additional cooperation);

We believe that the aforementioned decisions will allow us to more effectively utilize our existing resources to complete the development of the commercial version of Robot, version 2.0.

1 For more information on our “Robot Chef” system, please refer to Section A (Description of Our Business) of our Periodic Report 2021, published on MAGNA Delivery Systems on March 9, 2022 See 1.18. March 17, 2022), Reference No. 2022-01-027778](“annual report“), also see Section 1,18 Update (Updated Description of Company’s Business) in Chapter A of the Company’s Median Report for the First Half of 2022, published in MAGNA on 25 August 2022 .reference number 2022-01-108571](“every six monthsreport”), both of which are incorporated herein by reference.

1. For more information on our proprietary formulations, see Section 1.10 of our Annual Report and Semiannual Report, which is included herein by reference.
2. For more information on our business model, please refer to Section 1.30 of our Annual Report, which is incorporated herein by reference.

Chef’s system is intended to be ready for commercial marketing and production (scale-up) through existing and/or new partners in Q2 or Q3 2024.

The decision was accompanied by headcount reductions, cuts in senior management salaries, and cuts in other business unit activities. This is intended to reduce the company’s current costs, but also allows for increased sales. costs, anticipated increases in company inputs, market conditions and inflation;Four We believe this decision, which focuses on reducing operating expenses while minimizing the impact on our core activities, will allow us to continue our core business and create business collaborations, which will allow us to We believe it can bring even more significant value.

In addition to the above, the planned commercial rollout of the Version 1.1 system in Denver, USA has been delayed due to the system’s need to meet US regulatory standards. The company and its consultants say the standardization process will be completed by the end of the first quarter of his 2023, after which planned disclosures will begin.

About SavorEat

SavorEat creates smart robotic chefs that digitally create, prepare, and cook sophisticated, sustainable, plant-based cuisine to consumers’ exact specifications through advanced digital technology (including advanced 3D printing technology). We have developed a platform to use. The platform allows consumers to order meat-free products based on size, texture, nutritional profile and doneness preference. Your order will be ready in minutes. No human contact at all.

PositiveStatement Note– The above information and assessments relate to the decision to focus the company’s activities in the next period, the ability of the company to achieve the set of goals determined in the next period, the benefits and consequences of the decision.our activities and business development, our ability to continue our core activities in the future, the success of continuing existing collaborations and/or creating new collaborations, reaching the stage of commercialization of the system in a defined manner and date; Such information and The company’s intentions and/or plans in connection with the valuation include “forward-looking information” because the realization of the Israeli securities laws is highly uncertain and may not materialize, fully or hopefully. may not materialize and/or materially differ from reality

Four For our most recent financial results, please refer to our semi-annual financial statements included in our semi-annual report. This includes research reports by our independent auditors and our “going concern” notes contained therein.

the originally anticipated, inter alia, unexpected deterioration of local and/or global market conditions (and/or they persist for a longer period than anticipated), the consequences of commercial exposure and/or due to dissatisfaction development, lack of consent from existing and/or new partners to enter into additional agreements and/or new agreements (respectively), from entities and/or third parties necessary for the commercialization of the Company’s technology; failure to obtain regulatory approval for, failure to obtain necessary funding for the purpose of continuing to promote the development and marketing of our technology to the extent necessary at the time; increased competition in the market for the viability of continuing the development of technology and production of cur substitutes for our technology and products, as specified in Section 1.33 of the Annual Report Technology and/or substitute products, and rental of products (and others) through the realization of our risk factors.

Respectfully,

Saver Eat Co., Ltd.

I am authorized to report on behalf of the Company by:

Racheli Vizman, CEO and Director