Mr. Christian Milau reports

CARBON STREAMING INITIATES CLAIMS IN CONNECTION WITH THE RIMBA RAYA PROJECT

On Oct. 16, 2024, Carbon Streaming Corp. initiated arbitration proceedings and an Ontario court action to enforce its legal and contractual rights under the Rimba Raya purchase and sale agreement (as defined herein). The company had previously indicated that it would be evaluating all legal avenues to enforce its legal and contractual rights under the Rimba Raya PSA, the strategic alliance agreement (as defined herein) and related agreements. Initiating the arbitration proceedings and the Ontario court action are an important step in preserving the company's legal and contractual rights.

The company delivered a notice of arbitration to Infinite-Earth Ltd. and PT Infinite Earth Nusantara, the operators of the Rimba Raya project, in accordance with the purchase and sale agreement between the company and Infinite-Earth dated July 30, 2021, as amended on Feb. 28, 2023 (the Rimba Raya PSA); a notice of arbitration to the shareholders of Infinite-Earth in accordance with the strategic alliance agreement between the company and the shareholders of Infinite-Earth dated July 30, 2021, as amended on Nov. 17, 2021 (the SAA); and issued a notice of action in the Ontario Superior Court of Justice seeking declaratory relief against the principals of Infinite-Earth and their related entities.

The dispute between the company, Infinite-Earth and the principals of Infinite-Earth arises out of acts and omissions that the company alleges are improper and in breach of the Rimba Raya PSA, the SAA and related agreements.

On April 26, 2024, the company announced that it was informed that PT Rimba Raya Conservation, the local concession holder for the Rimba Raya project, had its forest utilization business licence (the concession licence) revoked by the Indonesian government's Ministry of Environment and Forestry (MOEF). On May 15, 2024, the company announced its financial results for the three months ended March 31, 2024, and determined the fair value of the Rimba Raya PSA to be nil. On July 11, 2024, the court reached a decision on the claim filed by PT Rimba against the MOEF before the State Administrative Court of Jakarta challenging the MOEF's revocation of the concession licence and declared the MOEF's revocation of the concession licence to be void. The MOEF subsequently appealed the Court of Jakarta's decision, and, on Sept. 30, 2024, the Court of Jakarta upheld its decision. The MOEF has until Friday, Oct. 18, 2024, to initiate an appeal to overturn the decision to the Supreme Court of Jakarta.

For a comprehensive discussion regarding the risks, assumptions and uncertainties that could further impact the Rimba Raya project and the Rimba Raya PSA, including, without limitation, concerning the legal status of the concession licence and the Rimba Raya PSA, investors are urged to review the section of the company's management discussion and analysis for the three months ended June 30, 2024, dated as of Aug. 12, 2024, entitled "Strategy and Outlook -- Indonesia Update," the section of the company's annual information form dated as of March 27, 2024, entitled "Risk Factors," and the press releases dated April 26, 2024, May 15, 2024, and May 21, 2024, copies of which are available on SEDAR+.

About Carbon Streaming Corp.

Carbon Streaming aims to accelerate a net-zero future. The company 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 the company's strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability and positions Carbon Streaming 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, reduction and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.

We seek Safe Harbor.