An anonymous director reports

ANAERGIA ANNOUNCES CLOSING OF FIRST TRANCHE OF THE STRATEGIC INVESTMENT

Anaergia Inc. has closed the first tranche of its previously announced equity investment of $40.8-million from Marny Investissement SA with the issuance of 31.25 million units of the company for gross proceeds of $12.5-million, immediately following entry by the parties into an amendment agreement.

Each unit consists of one subordinate voting share of the company and one-fifth of one subordinate voting share purchase warrant of the company. Each whole warrant entitles the holder to purchase one additional subordinate voting share at an exercise price of 80 cents for a period of three years following the date hereof.

In connection with the closing of the first tranche of the strategic investment, Ronen Kantor, a nominee of Marny, has been appointed to the company's board of directors to fill the vacancy created by the resignation of Alan Viterbi. The company would like to sincerely thank Mr. Viterbi for his service and contributions to the company.

Pursuant to the amendment agreement, the remainder of the strategic investment is now expected to close as follows: (i) the second tranche of 34 million units for gross proceeds of $13.6-million will close no later than March 15, 2024; and (ii) the third tranche of 36.75 million units for gross proceeds of $14.7-million will close no later than March 15, 2024. The closing of second and third tranches remain subject to a limited number of customary conditions.

Please refer to the company's news releases dated Dec. 18, 2023, Jan. 2, 2024, Jan. 19, 2024, and Jan. 25, 2024, for more information with respect to the strategic investment.

About Anaergia Inc.

Anaergia was created to eliminate a major source of greenhouse gases (GHGs) by cost-effectively turning organic waste into renewable natural gas (RNG), fertilizer and water through the use of proprietary technologies. With a record of delivering innovative projects, Anaergia is uniquely positioned to provide solutions to today's most pressing resource recovery challenges using a broad portfolio of proven technologies and multiple project delivery methods. Anaergia is one of the world's only companies with a proprietary portfolio of end-to-end solutions that integrate solid waste processing as well as waste water treatment with organics recovery, high-efficiency anaerobic digestion, RNG production, and recovery of fertilizer and water from organic residuals. The combination of these technologies enhances carbon-negative biogas, clean water and natural fertilizer production, utilizes a minimized footprint, and lowers waste and waste water treatment costs and GHG emissions.

We seek Safe Harbor.