An anonymous director reports

ANAERGIA ANNOUNCES COMPLETION OF THE SECOND TRANCHE OF THE STRATEGIC INVESTMENT

Anaergia Inc. has closed the second tranche of the previously announced equity investment of $40.8-million (the strategic investment) from Marny Investissement SA, through a wholly owned subsidiary, Marny Holdco Inc., with the issuance of 34 million units of the company for gross proceeds of $13.6-million.

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 until Feb. 2, 2027.

In connection with the closing of the second tranche of the strategic investment, Assaf Onn, a nominee of Marny Holdco, has been appointed to the company's board of directors to fill the vacancy created by the resignation of Douglas Fridrik Parkhill. The company would like to sincerely thank Mr. Parkhill for his service and contributions to the company.

Dr. Andrew Benedek agreed to convert one-third of all multiple voting shares of the company held by him into subordinate voting shares on a one-for-one basis in accordance with Anaergia's constating documents with the closing of each tranche of the strategic investment. With the closing of the second tranche of the strategic investment, Dr. Benedek now holds approximately 40.8 per cent of the voting rights attached to the subordinate voting shares and multiple voting shares (on a non-diluted basis), and approximately 37.8 per cent of the voting rights attached to the subordinate voting shares and multiple voting shares (on a partially diluted basis). Marny Holdco owns and controls approximately 39.4 per cent of the voting rights attached to the subordinate voting shares and multiple voting shares (on a partially diluted basis), and approximately 43.9 per cent of the voting rights attached to the subordinate voting shares and multiple voting shares (on a partially diluted basis), assuming the exercise in full of the warrants.

Please refer to the company's news releases dated Dec. 18, 2023, Jan. 2, 2024, Jan. 19, 2024, Jan. 25, 2024, Feb. 2, 2024, March 13, 2024, and March 28, 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.