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TUT Fitness Announces Share Consolidation

Vancouver, BC. – May 3, 2024 – TUT Fitness Group Inc. (“TUT” or the “Company”) (TSX.V:GYM) announces that its Board of Directors has approved the implementation of the consolidation of its issued and outstanding common shares on the basis of ten (10) old shares for one (1) new share (the “Consolidation”), subject to approval by the TSX Venture Exchange. Neither the Company’s name nor its trading symbol will change in connection with the Consolidation. The Consolidation is expected to become effective on or about May 8, 2024.

As a result of the Consolidation, the 36,605,349 common shares which were previously issued and outstanding are reduced to approximately 3,660,536 shares. No fractional shares will be issued under the Consolidation; if a shareholder becomes entitled to receive a fraction of a common share, such fractional shares, if less than one-half, will be rounded down to zero and, if equal to or greater than one-half, will be rounded up to one and added to the number of shares held by such shareholder.

The new CUSIP number will be 90109P204 and the new ISIN number will be CA90109P2044 for the post Consolidation shares.

ON BEHALF OF THE BOARD OF DIRECTORS OF
TUT FITNESS GROUP INC.
“Robert Smith”
Robert Smith, CEO
Contact: robs@tutfitnessgroup.com

Forward-looking Statements: This news release may contain certain statements that may be deemed “forward-looking statements”.

All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding the timing of the Company’s annual filings. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.