Bon Natural Life Limited Appoints Wallace Lee as New Chief Financial Officer

XIAN, China, April 25, 2023 (GLOBE NEWSWIRE) — 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, is pleased to announce the appointment of Mr. Wallace Lee as Chief Financial Officer (CFO), effective April 17, 2023. Mr. Lee succeeds Zhenchao Li, who stepped down from the role of CFO after a 4-year career with the Company, effective April 17, 2023.

“We welcome Wallace Lee into BON’s executive leadership team.” Commented Richard Hu, “Wallace brings exceptional financial, strategic, and operational experience both from multiple industry sectors and experience as a public company CFO. His broad expertise will be pivotal in BON’s continued growth as an industry leading Nutraceutical company. We look forward to leveraging his deep finance and industry knowledge as we execute on our strategic and financial goals.”

Mr. Wallace Lee is a certified public accountant and Chartered Global Management Accountant with over 16 years of experience including financial reporting, M&A transactions, due diligence, audit, tax, and management accounting. He received his B.S. in Business Administration from University of Houston in 2001. Most recently, Mr. Lee served as the Vice President of Finance at Ruanyun Edi Technology, Inc. Prior to Ruanyun Edi, Mr. Lee served as Chief Financial Officer of China SXT Pharmaceuticals, Inc. (Nasdaq: SXTC), and Finance Securities & Operation Director of Wanda Sports Group Holding Limited (Nasdaq: WSG).

“I am honored to join BON’s strong leadership team during this exciting period of growth, and to help drive the growth from both domestic and international markets,” said Wallace Lee. “As CFO, I look forward to leading BON’s financial operations to position the Company for continued success, and create long term shareholder value.”

“It has been an honor serving BON for 4 years,” said Zhenchao Li. “I welcome Wallace to BON and look forward to supporting his success as BON’s CFO. His exceptional background and experience will be invaluable to BON as we move forward through the next phases of growth.”

About Bon Natural Life Limited

The Company focuses on the manufacturing of personal care ingredients, such as plant extracted fragrance compounds for perfume and fragrance manufacturers, natural health supplements such as powder drinks and bioactive food ingredient products mostly used as food additives and nutritional supplements by their customers. For additional information, please visit the Company’s website at www.bnlus.com.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the natural, health and personal care market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

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