Mr. Greg Clarkes reports

REGEN III WORKING WITH NORTHERN TRUST FOR DEVELOPMENT OF VOLUNTARY CARBON CREDIT ECOSYSTEM

ReGen III Corp. has participated in the development of a voluntary carbon credit ecosystem developed by Northern Trust (NTRS). Leveraging private-ledger digital blockchain technology, the platform aims to provide carbon removal/reduction project developers with a fully automated ecosystem to manage the end-to-end life cycle of carbon credits with purchasers.

"We are proud to have worked with Northern Trust, an innovator in securities servicing, and selected leading project developers to help deliver its initial minimum viable product (MVP). We look forward to leveraging the platform to connect with institutional buyers of voluntary carbon credits," stated Greg Clarkes, chief executive officer of ReGen III.

Justin Chapman, global head of digital assets and financial markets at Northern Trust, said: "We are grateful to ReGen III and our other project developers for helping us reach this successful MVP milestone, which lays the foundation for the development of an industrywide voluntary carbon credit ecosystem, providing confidence and transparency through the life cycle of a carbon credit transaction."

Northern Trust's ecosystem utilizes private-ledger digital blockchain technology to connect institutional buyers with carbon credit suppliers that are focused on solutions to reduce greenhouse gases, including carbon dioxide. The fully digital platform allows purchasers to transact carbon credits directly with project developers and retire these against their carbon footprint.

Northern Trust plans further development of its platform, including the first official live transaction, in late 2023.

About ReGen III Corp.

ReGen III is a clean technology company commercializing its patented ReGen technology to recycle used motor oil (UMO) into high-value Group III base oils. With a focus on creating sustainable solutions that generate better environmental outcomes and compelling economics, the company's ReGen process is expected to reduce CO2e (carbon dioxide equivalent) emissions by 82 per cent as compared with virgin-crude-derived base oils combusted at end of life.

In 2022, ReGen III completed FEL-2 (front-end loading) and value engineering for the company's 5,600-barrel-per-day UMO Texas recycling facility, where world-class engineering, construction and licensed vendor teams -- including Koch Project Solutions LLC, PCL Industrial Management Ltd., Koch Modular Process Systems and Duke Technologies -- are providing detailed design, construction, commissioning and start-up services.

Operating in an underserved segment of the base oil market, ReGen III aims to become the world's largest producer of sustainable Group III base oil.

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