Mr. Ryan Jackson reports

CIELO PROVIDES UPDATE ON PROPOSED ACQUISITION AND ANNOUNCES INVESTOR SUMMIT PRESENTATION

Cielo Waste Solutions Corp. has provided an update to its previously announced binding letter of intent dated Feb. 9, 2026, with Canadian Discovery Ltd. (CDL), as previously announced on Feb. 10, 2026, in respect of Cielo's proposed acquisition of certain proprietary project development and evaluation assets. The company has entered into an amendment to the LOI dated March 25, 2026.

The company is also pleased to announce that its chief executive officer, Ryan C. Jackson, will participate in a webcast presentation at the Lytham Partners 2026 Industrials & Basic Materials Investor Summit on April 1, 2026. Additional details are provided below.

Amendment terms

The LOI originally contemplated the closing of the proposed acquisition to occur prior to March 31, 2026; however, due to certain administrative matters, including customary preclosing structuring steps to be completed by CDL as contemplated by the LOI, the parties have agreed that a short period of additional time is required to complete the process. As a result, the outside date has been extended to April 15, 2026. The amendment also clarifies that CDL will remain responsible for the seller's obligations unless and until a subsidiary entity is formed and becomes the seller under the definitive asset purchase agreement.

Based on the positive progress of the parties' due diligence process, which is nearing completion, and the parties' continued alignment, including the identification of potential synergies that support future growth and development initiatives, Cielo and CDL have agreed to eliminate the escrow previously contemplated for a portion of the consideration shares. As a result, all consideration shares are expected to be issued on closing, subject to applicable statutory resale restrictions and an aggregate 12-month hold period from closing, as contemplated by the LOI.

The proposed acquisition remains subject to, among other things, finalization and execution of a definitive asset purchase agreement (APA), satisfaction of customary closing conditions, and receipt of all required corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

Additional details regarding the proposed acquisition are available in the company's press release dated Feb. 10, 2026.

Cielo to participate in the Lytham Partners 2026 Industrials & Basic Materials Investor Summit

The company will participate in a webcast presentation at the Lytham Partners 2026 Industrials & Basic Materials Investor Summit, taking place virtually on Wednesday, April 1, 2026. The webcast will take place at 11 a.m. ET on Wednesday, April 1, 2026, and can be accessed by visiting Lytham Partners' website. A replay will also be available on Lytham Partners' website.

About Cielo Waste Solutions Corp.

Cielo Waste Solutions is a clean fuels infrastructure and project development company focused on advancing waste-derived feedstocks into sustainable aviation fuel and other low-carbon energy products. Through the Nexus platform, Cielo is advancing its initial development project in British Columbia while systematically building a scalable pipeline of clean fuels projects across North America and select international markets, leveraging strategic feedstock relationships, proven third party technologies and internally developed project development capabilities.

Cielo's shares are listed on the TSX Venture Exchange under the symbol CMC and on the OTCQB under the symbol CWSFF.

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