Mr. Benoit Veilleux reports

CHARBONE HYDROGEN ANNOUNCES Q3 FINANCIAL HIGHLIGHTS

Charbone Hydrogen Corp. has released its financial highlights for the nine-month period ended Sept. 30, 2023.

Highlights:

• Well executed tightening of spendings, refocusing of activities and reorganizing of administration expenses resulted in a decrease of $1,070,476 of general and administrative expenses ($1,948,336 in 2023 compared to $3,018,812 in 2022).
• Increase of revenues by $212,680 ($212,680 in 2023 compared to $nil in 2022) generated from the Wolf River acquisition on December 1, 2022.
• The net cash position on September 30, 2023 was a cash of $63,991 in comparison with indebtedness of $28,467 at December 31, 2022:
  • The Company less usage of cash from operating activities, disbursing only $1,055,201 in 2023 compared to $2,970,703 in 2022.
  • The Company has closed tranches of private financings for aggregate proceeds amounting to $758,420 and Units for debt settlement of $516,061.
  • The Company received advances' reimbursements of $318,648 from key management personnel.
  • The Company also obtained an additional $282,323 in 2023 from Finexcorp financing agreement converted on September 30, 2023, to secured convertible debentures at a deemed price of $0.10 for a total of $300,000.

" The management team resilience and the refocused business plan are the main factors bringing Charbone in a better position to deploy its updated financing plan to complete its first project at Sorel-Tracy (Quebec, Canada), which is under construction and planned to be in production in the first semester of 2024 , said Benoit Veilleux, Chief Financial Officer and Corporate Secretary of Charbone , 'and to continue the development and the deployment of a network of up to 15 facilities in Canada and the United States for the production and distribution of renewable hydrogen by 2028 . "

About Charbone Hydrogen Corporation

Charbone is a green hydrogen group established in North America. The company's strategy is to develop modular and expandable hydrogen facilities and regional hubs. Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial, commercial and mobility users.

We seek Safe Harbor.