Bon Natural Life (BON) Announces Effectiveness of 1:25 Reverse Share Split

Bon Natural Life Limited (Nasdaq: BON) (“BON” or the “Company”), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, announced today that it will effect a 1-for-25 reverse stock split ("Reverse Stock Split") of its authorized, issued and outstanding Class A ordinary shares, par value $0.001 per share. The Reverse Stock Split will become effective at 12:01a.m., Eastern Time, on May 19, 2025. At such time, each 25 issued and outstanding Class A ordinary shares will automatically be reclassified into one new Class A ordinary share. Proportional adjustments will be made to outstanding equity awards, warrants and convertible notes, and to the number of shares issued and issuable under the Company's stock incentive plans and certain existing agreements. No fractional shares will be issued in connection with the Reverse Stock Split. All fractional shares will be rounded up. The Reverse Stock Split will affect all Class A holders uniformly and will not alter any stockholder's percentage interest in the Company's equity.

Bon’s Class A ordinary shares will continue to trade on The Nasdaq Capital Market 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 Reverse Stock 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. There is no guarantee the Company will meet the minimum bid price requirement.

Immediately following the Reverse Split our authorized share capital will increase to 1,000,000,000 Class A ordinary shares, par value $0.025 per share; (ii) 50,000,000 Class B ordinary shares, par value $0.001 per share; and (iii) 50,000,000 preference shares, par value $0.001 per share.

In addition to the Reverse Split and increase in authorized shares, the conversion rate of the Class B ordinary shares, which are currently convertible to Class A ordinary shares on a one-to-one (1:1) basis, will be convertible to Class A ordinary shares on a one-to-twenty-five (1:25) basis (the “Variation of Class Rights”).

The Reverse Split, Variation of Class Rights, and increase in authorized shares was approved by our shareholders at their April 15, 2025 extraordinary general meeting and was accomplished by way of an amendment to our charter documents filed on April 28, 2025.

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