Mr. David Rokoss reports

OSTROM RECEIVES MANAGEMENT CEASE TRADE ORDER RELATED TO FILING OF FINANCIAL STATEMENTS AND MD&A

The British Columbia Securities Commission has issued to Ostrom Climate Solutions Inc. a management cease trade order (MCTO) under National Policy 12-203 -- Management Cease Trade Orders, as the company was not able to file its annual consolidated financial statements and accompanying management's discussion and analysis, and related chief executive officer and chief financial officer certificates for the financial year ended Dec. 31, 2022 (collectively, the annual filings), within the 120-day period prescribed for the filing of such documents under Parts 4 and 5 of National Instrument 51-102 and Part 4 of National Instrument 52-109. In the normal course of the current audit, it was made known to the company that staffing limitations being faced by the company resulted in the auditor not having sufficient time to complete the audit. The company expects that the annual filings will be filed on or before June 1, 2023.

During the period in which the MCTO is effective, the company will comply with the alternative information guidelines set out in NP 12-203, including the issuance of biweekly default status reports, in the form of news releases, and the general investing public, who are not insiders of the company, will continue to be able to trade in the company's listed common shares. The company's CEO and CFO will not be able to trade the company's common shares until such time as the annual filings have been filed by the company and the MCTO has been revoked.

The company's board of directors and its management confirm that they are working expeditiously with the auditor to meet the company's obligations.

The company confirms that there is no other material information concerning the affairs of the company that have not been generally disclosed as of the date of this news release and that there are no insolvency proceedings against it as of the date of this news release.

About Ostrom Climate Solutions Inc.

Ostrom Climate specializes in advisory, technology and project investment services applied to sustainable commodities and ecological assets, with a primary focus on carbon. It helps organizations understand, reduce and offset their climate impact, and provides its customers with a multidisciplinary approach to managing risk, enhancing asset performance and securing commercial returns. While managing climate change risk, the company improves livelihoods and sustainability in project regions. Based out of Vancouver, B.C., Ostrom's team has a global reach. It has worked with over 200 leading business organizations.

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