Mr. Mischa Zajtmann reports

EVERGEN INFRASTRUCTURE ANNOUNCES MECHANICAL COMPLETION AT FRASER VALLEY BIOGAS

The mechanical phase of Evergen Infrastructure Corp.'s Fraser Valley biogas renewable natural gas expansion project has been completed.

The Fraser Valley biogas RNG expansion project commenced construction in third quarter 2022, with a scope that included improvements to the feedstock processing system, installation of a new RNG upgrader and the commissioning of a third anaerobic digester. The upgrades will remove processing bottlenecks, provide enhanced flood protection, improve environmental controls, and increase operational reliability to double the processing and recovery capacity of RNG to bring the production capacity of the facility to approximately 160,000 gigajoules of RNG per year.

The mechanical completion phase signifies the finalization of construction of all major equipment and systems. The project remains on budget with a total expected cost of approximately $12-million.

"We are very pleased to announce the significant milestone of the Fraser Valley biogas RNG expansion project reaching mechanical completion for Evergen's second RNG expansion project," said Mischa Zajtmann, chief executive officer of Evergen. "Our dedicated project team will now shift their focus to the installation of the new control system and commissioning of the facility expansion to achieve RNG production from the new upgrader expected in December, 2023."

The Fraser Valley biogas RNG expansion project is expected to provide significant increases to revenue, net income, and earnings before interest, taxes, depreciation and amortization through the increased RNG production and improvements in RNG pricing upon the execution of a new long-term offtake agreement.

About Evergen Infrastructure Corp.

Evergen, Canada's renewable natural gas infrastructure platform, is combatting climate change and helping communities contribute to a sustainable future. Headquartered on the west coast of Canada, Evergen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of renewable natural gas, waste to energy and related infrastructure projects. Evergen is focused on Canada, with continued growth expected across other regions in North America and beyond.

We seek Safe Harbor.