DGB N : DGB announces operational Q2 update

Press Release

DGB announces operational Q2 update

5 July 2022 | 07:00h CET

Dutch Green Business Group N.V. ("DGB" or "the Group") (Euronext: DGB: NL0009169515), a leading carbon project developer and ecosystem restoration company, proudly announces its operational Q2 update. With a project pipeline of over 16,8 million tonnes of carbon ofsets, DGB is already ahead of its outlook for 2022 and on pace to deliver on its strategic and operational objectives for the year.

DGB is a project developer for nature-based projects to originate high-integrity verifed emission reduction carbon credits ("VERs"). VERs are voluntary emission reductions, carbon ofsets or carbon credits. VERs are a reduction in greenhouse gas emissions ("GHG") from a project that is independently audited. Each VER represents one metric tonne of carbon dioxide emissions.

Selwyn Duijvestijn, DGB's Chief Executive Ofcer, stated: "Our goal is to help nature fourish and prosper. Carbon credits provide a great opportunity to fnance unique nature-based solutions. The demand for credits is fundamentally proven and backed through legislation by nearly every country globally. Global megatrends drive the demand for carbon credits and underpin our growth opportunities. DGB investors appreciate this market dynamic and the signifcant opportunity it presents."

Q2 2022 Highlights

Carbon markets & pricing:

• Carbon markets are rapidly expanding. There is near-universal consensus from governments and private companies that the market needs to grow to match global net-zero needs. The current average index price for Nature-BasedCarbon Ofset Creditin the voluntary carbon markets is $8,29, and there is a premium for high-quality ofsets.
• Global consultancy frm EYpublished a reportstating the price of voluntary carbon ofsets will likely triple between now and 2035 and could rise as much as six times. EY expects prices to rise between $80 to $150 per tonne of CO2 by 2035 and increase further towards the $150 to $200 price range by 2050.
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• The project pipeline of the Group now consists of over 16.9 million tons of carbon credits ready for oftake agreements, a growth of +22,5% since the 13,8 million tons of carbon of last quarter and a growth rate of +603,6% YoY, making DGB the most prominent project developer of carbon credits in The Netherlands.

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Oftake agreements & Sales:

• DGB focuses on scaling its operations and fnancing the projects by entering into long-term oftake agreements for carbon credits to be verifed later in 2022 and the coming years. This is an essential part of its carbon credit sales and distribution strategy.
• A long-term oftake agreement is a legal contract in which a buyer agrees to purchase a set amount of carbon credits at set price points at a set time, usually several years into the future. Long-term oftake agreements give DGB predictability as to how many carbon credits intend to be sold, the revenue generated by a project in the future, and bring in cash fow.
• In Q3 2021, DGB entered into its frst binding carbon credit oftake agreements, according to which DGB committed to ofsetting carbon emissions for various customers.
• In Q1,DGB completed its frst substantial oftake agreementfor Verifed Emission Reduction worth €1.1m with a major international energy company, contributing to its revenue in 2022. In Q2, DGB signed additional binding carbon credit oftake agreements with various customers bringing the total for 2022 to 156.572 carbon credits.

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Project milestones & Financing:

• In Q2, DGB launched a new €2.0 million capital raise via a placement of green bonds. Investors will receive a return of 8% per annum, and the bonds have a maturity of 4 years. The interest is paid quarterly in arrears. € 500.000 is now subscribed for. The Board of Directors is delighted with these indications of support for this green bond raise as it refects investors' shared confdence in the business.
• In Q2, DGB invited investors and corporate buyers in a tender process on fve of its projects:
• • DGB Hongera AR Project Kenya - 7 million credits over its 30-year project lifetime (approximately 225,00 carbon credits per annum).
  • Hongera Energy Efcient Cookstove Project Kenya - 1.8 million credits over its 6-year project lifetime (approximately 300,00 carbon credits per annum).

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• • DGB Sawa AR Project Cameroon - 1.8 million credits over its 6-year project lifetime (approximately 300,00 carbon credits per annum).
  • Sawa Cookstove Project Cameroon - 1.8 million credits over its 6-year project lifetime (approximately 300,00 carbon credits per annum).
  • DGB Cameroon Aforestation Project - 5.1 million credits over its 30-year project lifetime (approximately 175,00 carbon credits per annum).
• DGB expects to receive investment proposals in Q3 2022 and icanclose transactions to fnance its current project pipeline going forward.

Sales & distribution network:

• DGB works closely with its customers to drive more sustainable operations serving people and the planet. DGB helps assess the environmental risk to businesses and outlines the opportunities for investment in an ever-growing ESG- sector.
• To boost the number of oftake agreements and fnance its project pipeline, DGB in Q2 expanded its sales and distribution network further. DGB is working with ESG consultants and environmental advisory frms in the Netherlands and United

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Kingdom.

• DGB's carbon calculator CO2.expert enables SME clients to measure their carbon footprint and ofer recommendations on how to address it. The calculator has already been well received by the Company's clients and has seen strong user growth in 2022. In Q2, DGB welcomed 50 new customers to the platform.
• DGB's retail brand Corekees has grown signifcantly since DGB's investment. After the EUR 500.000 Series, a fnancing round last year, the retail investment platform saw a 195% increase in the number of trees planted and a 118% increase in the total number of recurring investors through its monthly subscription model. DGB acts as a cornerstone investor in the Corekees brand for further platform development and international growth in Europe.

GreenTech Solutions:

• DGB has increased its software development team in Q2 but delayed the launch of its cloud-based online biodiversity credits platform to the second half of 2022.
• DGB continued the development of its range of GreenTech Solutions, highlighted onbiodiversity.space

Outlook:

• The outlook for DGB is robust, driven by increasing global demand for carbon credits and an expanding project pipeline.
• With a project pipeline of over 16,8 million tonnes of carbon ofsets, DGB is already ahead of its outlook for 2022 and on pace to deliver on its strategic and

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