Carbon Streaming Corporation announced that it has entered into a carbon credit streaming agreement (the Stream Agreement) with a subsidiary of Restoration Bioproducts LLC (Restoration Bioproducts) to support construction of a biochar production facility in Virginia (the Project). Biochar, short for biological charcoal, is produced by heating organic feedstocks in a limited oxygen atmosphere, resulting in a very stable form of carbon that prevents the release of greenhouse gases into the atmosphere for centuries, making it valuable for sequestration purposes. CO2 Removal Certificates (CORCs) are expected to be verified under independent standard Puro.earth, the leading standard for Biochar projects.

Investment Highlights: This is the Company's first carbon stream on a biochar carbon removals project, providing diversification across a new project type. This is the Company's first carbon stream located in the United States, furthering geographic diversification. Carbon Streaming will receive and sell 100% of the CORCs generated by the Project, with ongoing payments to Restoration Bioproducts for each CORC sold under the Stream Agreement.

The Project is expected to remove over 161,000 tonnes of CO2 equivalent emissions (“tCO2e”) over the 25-year project life and generate an equivalent number of CORCs. CORCs from other Puro.earth projects are currently selling above US$125/CORC as of April 2022. With the signing of the Stream Agreement, Carbon Streaming is making an initial upfront cash investment of US$0.6 million, with additional milestone payments of US$0.75 million to be paid over the term of the Stream Agreement.

Impact Highlights: The Project is expected to reduce biomass waste and prevent the associated release of carbon dioxide and methane emissions into the atmosphere equivalent to an estimated 6,500 tCO2e per year. It is anticipated that the majority of biochar generated by the Project will be used in agricultural applications to deliver soil enhancement through increased water and nutrient retention and ammonia reduction. The production process generates clean energy that reduces reliance on traditional lower efficiency sources and offers cost savings that contribute to increased community employment.

The Project is expected to be a significant employer in the local community. Closing of the Stream Agreement is subject to customary conditions with closing anticipated to occur within a week.