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SavorEat Ltd.

Regulatory Filings Sep 3, 2023

7035_rns_2023-09-03_9fcf6392-bf46-4431-b325-5720c2726042.pdf

Regulatory Filings

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This is an English translation of the Company's immediate report in Hebrew that was published on September 3, 2023 [Reference no.: 2023-01-102228] (the "Hebrew Version"). This English version is only for convenience purposes. This is not an official translation and has no binding effect. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

סבוריט בע"מ SAVOREAT LTD. (the "Company")

3 September 2023

To To www.isa.gov.il www.tase.co.il

The Israeli Securities Authority The Tel Aviv Stock Exchange Ltd.

Dear Sir and Madam,

Re: Completion of Regulatory and Standardization Procedures for the 'Robot Chef' System (Type 1.1) Designated for the US Market

The Company is honored to report that the Company's 'Robot-Chef' System (Type 1.1) designated for commercial operation in the US market, has successfully passed the required standardization tests and obtained the necessary regulatory approvals for the commencement of marketing and commercial exposure activity1 planned to take place in cooperation with the Sodexo Group2 for the American's universities segment (the "System", "Exposure Activity", and "Sodexo", respectively) already during this month (September).

Simultaneously, the Company has prepared all main aspects for the Exposure Activity, which as stated is expected to begin already during this September at the universities in Denver, Colorado, USA (the "Sites" or the "(US) Universities"), which is the beginning of the academic school year.

The process for obtaining the approvals necessary to operate the System began towards the end of 2022 in Israel and Denver, and after a series of tests and inspections that the System went through, including safety tests, EMC3 tests, UL and NSF Field Evaluation, 4 the Denver Department of Public Health & Environment, confirmed the completion of standard tests and the System's compliance with the regulatory requirements that were required to operate the System as part of the Exposure Activity on the Sites.

To the best of the Company's knowledge, System's UL compliance confirmation is on a federal level, so it would allow the Company to utilize it (and in the future to apply for such regulation and

1 See also the Company's immediate report, dated August 18, 2022, filed with the MAGNA [reference number 2022-01- 105523], incorporated herein by reference.

2 The Company entered into a cooperation agreement with Sodexo Operations LLC in August 2021 (the "Cooperation Agreement" and "Sodexo", respectively). Sodexo is a public company which shares are listed for trading on various stock exchanges around the world, and is the 18th largest employer in the world, ranked as one of the three largest companies in the world in the field of integrated service management and catering services for businesses, health organizations, educational institutions, government, and leisure institutions in 80 countries.

3 An Electro Magnetic Compatibility test designed to ensure System's ability to operate as designed in an electromagnetic environment including that System does not emit electromagnetic interference beyond the standard limits.

4 This refers mainly to UL and NSF international recognized standards bodies.

standardization approvals more easily) in other US states.

Obtaining the necessary approvals was one of the Company's main goals for 2023 and considered a significant milestone in penetrating the US market, one which paves the way for the expansion of its commercial activities throughout the US.

About the 'Robot-Chef' System (Type 1.1)

The Company's Type 1.1 'Robot-Chef System is an advanced digital production system, which includes various improvements compared to the previous version as well as various updates designed to meet the demands of the US market in various aspects, including in regard to output capabilities, ease of operation, adjusted supply voltages (electricity) specific to the USA, regulatory and standardization requirements, and more. This System is intended for the Company's commercial exposure activities in the US market, as part of the collaboration with the Sodexo Group at universities in Denver, Colorado, USA, and it successfully passed the tests and inspections and received the necessary approvals.

About the Plant-Based Meat Substitute Products

Among the products expected to be available as part of the commercial Exposure Activity on the sites: a plant-based hamburger and a plant-based breakfast sausage patty (the "Food Products").

About SavorEat Ltd.

SavorEat is developing an advanced digital plant-based meat substitutes production system, the purpose of which is to provide the consumer with a personalized eating experience 'on-site', which is as similar as possible (in taste and texture) to eating meat that originates from the animal.

Forward-looking Statements Cautionary Clause

The information and assessments as stated above, in connection with the completion of the regulatory and standardization procedures for the System, the start date of the Exposure Activity, the advantages inherent in obtainment of the regulatory approvals re Company's future applications in other US states and the successful and continued commercial penetration in other US states, including the continuation of marketing activity, Systems deployment and commercial operation in the target markets, completion of regulatory procedures in other target markets and/or US states, commercial acceptance of type 1.1 or 2.0 Systems and/or further commercial activities in the US and/or other target markets, the ability to continue the Company's core activities in the coming period, and including schedules, dates, forecasts, deadlines, estimates, intentions and/or plans of the Company in connection with said information and assessments, include "forward-looking information", as the term is defined under the Israeli Securities Law, the realization of which is highly uncertain and may not materialize and/or will not materialize in full or as desired and/or materialize in a manner that is materially different from what was initially expected, inter alia due to unexpected factors beyond the Company's control, including changes in market conditions and/or competitive and business environments, non-acceptance of the System and/or the Food Products by the various target audiences in the US and/or failure of the System and/or the Food Products to penetrate the relevant markets and/or reach the relevant audiences, additional or other requirements by regulatory authorities in connection with the development, use and marketing of the System and/or the Food Products, requirement to continue research and/or development regarding the Company's Food Products and/or System (including the need to return to the characterization and/or design stages of the system), unexpected obstacle on the part of the Company and/or its business partners that will not allow penetration procedures at the desired time and/or to the desired extent and/or within the designated schedules (or will cause a postponement, delay or cancellation), failure to obtain the required financing for the Company's continuing operations as scheduled or planned as well as the realization of any of the Company's risk factors, as specified in section 1.33 of the Annual Report.

Respectfully,

SavorEat Ltd.

Approved for reporting on behalf of the Company by: Racheli Vizman, CEO and Director

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