Mr. Christian Milau reports

CARBON STREAMING ANNOUNCES BOARD AND MANAGEMENT CHANGES

Carbon Streaming Corp. has made the following changes to its board of directors and senior management. The changes follow recent constructive discussions between the board and certain of the company's shareholders, led by Marin Katusa.

Justin Cochrane and Maurice Swan have resigned as directors of the company. Continuing as directors are Candace MacGibbon, Alice Schroeder and Jeanne Usonis.

Christian Milau, Marcel de Groot and Olivier P. Garret have joined the board of Carbon Streaming. Mr. Milau has also been appointed interim chief executive officer of the company. Mr. Garret has been appointed as chair of the board. Mr. Garret will chair all committees of the board other than the audit committee and compensation committee. Mr. de Groot has been appointed as chair of the audit committee, and Ms. Schroeder will continue as chair of the compensation committee. Bios for the new board members appear at the end of this release.

Before Mr. Milau, Mr. de Groot and Mr. Garret joined the board, Carbon Streaming agreed to acquire Blue Dot Carbon Corp., a private company led by Mr. Milau, for a total purchase price of $2.5-million (U.S.) to be paid in common shares of Carbon Streaming. Mr. de Groot is a member of the board of directors of Blue Dot.

The number of shares to be issued as consideration to Blue Dot shareholders will be settled 30 days after this announcement, using a 30-day volume-weighted average price to calculate the number of shares, with a maximum consideration price of 75 cents per share. Closing of this transaction is expected in July, 2024, and is subject to any customary stock exchange or regulatory approvals. The acquisition of Blue Dot was approved by the board upon the unanimous recommendation of the special independent committee of the board, of which Ms. MacGibbon and Ms. Schroeder are members. Mr. Katusa facilitated the negotiation between Carbon Streaming and Blue Dot. Mr. Katusa is not a shareholder of Blue Dot, and no fees, in cash or in kind, were paid in connection with this transaction.

Blue Dot has an equity investment in a carbon project developer and certain option rights to invest in future removals (reforestation) projects of its partners. Blue Dot and its founders also have long-standing relationships with a number of Carbon Streaming shareholders, as well as carbon investors and major corporations investing in the carbon markets.

Mr. Milau said: "I am pleased to be joining Carbon Streaming and welcome Olivier and Marcel, who are also strong advocates for the impact Carbon Streaming and the sector can make on carbon emissions and the transition towards a lower carbon emission future. We are all investors in the carbon finance sector, think like owner managers, and have a focus on capital allocation and management while the sector recovers from a challenging few years. We want to thank shareholders for their support during the dramatic pullback in the carbon markets and Carbon Streaming's share price in recent years. It hasn't been an easy ride. I look forward to working with the Carbon Streaming team, local stakeholders, partners and shareholders to recover and enhance the value in the assets, move the company towards positive operating cash flows, and execute on the project pipeline. I have hands-on experience evaluating, financing and executing on small to large projects in many remote regions of the world. In support of this strategy to assist with improving cash flows and support the recovery of the share price, I commend the board in agreeing to receive its fees in options with no cash fees to be paid. We will also conduct a search for a permanent CEO for the company with a preferred focus on experience in carbon and growth companies, with multiple stakeholder groups and strong corporate governance."

Mr. Cochrane will continue as president of Carbon Streaming, reporting to Mr. Milau. Conor Kearns will continue as chief financial officer of the company. As part of the transition agreed to between the company and certain of Carbon Streaming's shareholders, Mr. Cochrane and Mr. Kearns have amended their employment arrangements with Carbon Streaming. Pursuant to their amended employment arrangements, Mr. Cochrane and Mr. Kearns will continue as employees of the company, at their current compensation levels, to Dec. 31, 2024, and any outstanding equity awards issued to Mr. Cochrane and Mr. Kearns will vest to that date. Mr. Cochrane and Mr. Kearns have agreed to waive any change of control entitlements under their employment agreements with the company and have agreed to relinquish any outstanding equity awards that have not vested by Dec. 31, 2024.

Mr. Garret stated: "On behalf of Carbon Streaming and all its shareholders and other stakeholders, I want to thank the board and management for supporting a smooth transition of the company during challenging times. I look forward to working with the new board, and Christian, in selecting a permanent CEO, enhancing cash management as the company moves towards break-even, and focusing on maximizing shareholder returns, including a review of existing investments and the pipeline of projects. We will work hard to provide stakeholders with value and transparency on projects, contracts and compensation as we move forward."

Ms. Usonis said: "On behalf of Carbon Streaming, I want to thank Justin and Conor for their leadership as the company grew over these past few years and for agreeing to amend the terms of their employment agreements. I also want to recognize Maurice, outgoing chair of the board, for his many contributions to the board and his commitment to Carbon Streaming. We wish him all the best in his future endeavours."

Mr. Katusa has agreed to provide financial and technical advice to the board on a continuing basis at no cost to the company. Mr. Katusa will not receive any fees, options or any other form of remuneration in return for his assistance to Carbon Streaming.

To afford the company the time required to issue its management information circular reflecting changes to the board and senior management, the board has agreed that the company's annual and special meeting of shareholders will not proceed on June 18, 2024, as previously scheduled. The board will set and announce a new meeting date, and an updated notice of meeting and record date will be filed on SEDAR+.

Mr. Garret

Mr. Garret is a successful business executive and turnaround agent with experience working across a dozen different industries. In his capacity as chief executive officer or chief restructuring officer, he has led the growth and restructuring of companies in the financial industry and defence industry, as well as a variety of manufacturing and service businesses.

For the past 16 years, Mr. Garret has launched and led the growth of five financial research and publishing companies, one gold bullion company, four resource funds, and two real estate funds. Mr. Garret earned an MBA from the Amos Tuck School at Dartmouth in 1989 and a master in business management from the University of Paris-IX in 1983.

Mr. Milau

Mr. Milau is CEO of Blue Dot, a private carbon credit financing company. He has also led a number of gold and copper mining companies through growth from single asset to large multinational, multibillion-dollar New York Stock Exchange-listed groups with the highest standards of environment, social and governance implementation. Companies he has led, or for which he has been part of the senior management team, include Equinox Gold, True Gold Mining, Endeavour Mining and New Gold. He is currently a non-executive director of two junior energy metal exploration companies, Arras Minerals and Copper Standard Resources. Mr. Milau holds a bachelor of commerce degree from the University of British Columbia and is a chartered professional accountant.

Mr. de Groot

Mr. de Groot is a co-founder and the president of Pathway Capital Ltd. Pathway Capital partners with successful mining entrepreneurs to launch new ventures. Examples of such ventures include Peru Copper (acquired by Chinalco), Equinox Gold and Solaris Resources. Mr. de Groot has over 25 years of experience in providing strategic support to both private and public companies within the resource industry. He is currently a director of Sandbox Royalties and Copper Standard Resources.

Mr. de Groot holds a bachelor of commerce degree from the University of British Columbia and is a chartered professional accountant.

About Carbon Streaming Corp.

Carbon Streaming aims to accelerate a net-zero future. It pioneered the use of streaming transactions, a proven and flexible financing model, to scale high-integrity carbon credit projects to advance global climate action and additional United Nations Sustainable Development Goals. This approach aligns its strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability, and positions it as a trusted source for buyers seeking high-quality carbon credits.

The company's focus is on projects that have a positive impact on the environment, local communities and biodiversity, in addition to their carbon reduction or removal potential. The company has carbon credit streams and royalties related to over 20 projects around the world, including high-integrity removal and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.

We seek Safe Harbor.