Mr. Ryan Jackson reports

CIELO ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

Cielo Waste Solutions Corp., further to a news release dated Jan. 16, 2024, has received approval from the TSX Venture Exchange for its one-for-15 share consolidation. The consolidation will be effective at market open on Jan. 29, 2024. There is no change to the company's name, and the company will continue to trade under the symbol CMC on the exchange.

The company's new Cusip will be 17178G302, and ISIN will be CA17178G3026.

As a result of the consolidation, the number of outstanding common shares of the company will be reduced from 1,699,540,548 to 113,302,703, subject to rounding adjustments. No fractional postconsolidation shares will be issued, and no cash will be paid in lieu of fractional postconsolidation common shares. In the case of fractional shares resulting from the consolidation, fractions of a share will be rounded down to the next whole share.

The exercise or conversion price and/or the number of shares issuable with respect to any of the company's outstanding convertible securities will be proportionately adjusted following the consolidation, including, but not limited to, the company's warrants trading on the exchange under the symbol CMC.WT (which symbol will remain unchanged) and the Cusip 17178G112 (which CUSIP will remain unchanged), to be adjusted such that 15 warrants will be exercisable for one postconsolidation common share of the company for $1.35.

Upon the consolidation becoming effective, letters of transmittal will be sent by mail to registered shareholders of the company for use in transmitting their share certificates to the company's registrar and transfer agent, Olympia Trust Company, in exchange for new certificates. Upon return of a properly completed letter of transmittal, together with preconsolidation certificates, new certificates will be issued at no charge to registered shareholders. Common shares held in uncertificated form by non-registered shareholders will be converted through brokerage accounts at the consolidation ratio.

About Cielo Waste Solutions Corp.

Cielo Waste Solutions is fuelling renewable change with a mission to be a leader in the wood waste-to-fuels industry by using environmentally friendly, economically sustainable and market-ready technologies. The company's process and technology do not use food as feedstock as it is proudly advancing its non-food-derived model based on its exclusive licence in Canada for patented enhanced-biomass-to-liquids (EBTL) and biomass-gas-to-liquids (BGTL) technologies and related intellectual property, along with an exclusive licence in the United States for creosote and treated wood waste, including abundant railway tie feedstock. Cielo has assembled a diverse portfolio of projects across geographic regions and secured the ability to leverage the expertise of proven industry leaders. Cielo is committed to the goal of producing renewable fuels from wood waste that contribute to a cleaner fuel source and generating positive returns for its shareholders. The company's shares are listed on the TSX Venture Exchange (TSX-V) under the symbol CMC as well as on the OTC Markets under the symbol CWSFF.

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