Borealis Foods receives Nasdaq delisting notice for MVLS below $35M

Borealis Foods Inc.

• Received Nasdaq notice on July 2, 2026 for failing minimum $35M MVLS over 30 consecutive business days.
• Also fails alternative listing standards under Nasdaq Rules 5550(b)(1) and 5550(b)(3).
• Has 180-day compliance period until December 29, 2026 to regain compliance.
• To regain compliance, MVLS must close at $35M+ for at least 10 consecutive business days.
• If not regained, common shares and warrants subject to delisting; company evaluating options.