Exercise of Warrants of Willow Biosciences Inc. By Tuatara Capital Fund II, L.P.

/NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./

CALGARY, AB, March 4, 2021 /CNW/ - Pursuant to the early warning requirements of applicable Canadian securities laws, Tuatara Capital Fund II, L.P. ("Tuatara") reports that, on March 1, 2021, it acquired 1,000,000 common shares ("Common Shares") in the capital of Willow Biosciences Inc. ("Willow") through its exercise of warrants in the capital of Willow ("Warrants").

The Warrants were previously acquired on October 29, 2020, and were exercised at a price of $0.85 per Warrant (the "Warrant Exercise").

Immediately prior to the Warrant Exercise, Tuatara held: (a) 25,048,476 Common Shares; and (b) Warrants exercisable for a total of 5,609,695 Common Shares, representing 25.9% (on a non-diluted basis) and 24.1% (on a fully diluted basis) of the voting securities of Willow.

Following the Warrant Exercise, Tuatara holds: (a) 26,048,476 Common Shares; and (b) Warrants exercisable for a total of 4,609,695 Common Shares, representing 21.1% (on a non-diluted basis) and 21.0% (on a fully diluted basis) of the voting securities of Willow.

Tuatara acquired the Common Shares for investment purposes and may, in the future, increase or decrease its ownership of securities of Willow, directly or indirectly, from time to time depending upon, among other things, the business and prospects of Willow and future market conditions.

For further details regarding the exercise of Warrants described above, see the Early Warning Report dated March 4, 2021 available on Willow's SEDAR profile.

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS NEWS RELEASE, PLEASE CONTACT:

Tuatara Capital Fund II, L.P.
655 Third Avenue, 8^th Floor
New York, NY 10017
Attention: Al Foreman
Telephone : [phone]

Willow's head office is located at:

Willow Biosciences Inc.
150, 2250 Boundary Road
Burnaby, BC
V5M 3Z3

SOURCE Tuatara Capital Fund II, L.P.