Mr. Aidan Mills reports

NORTHSTAR ANNOUNCES 2023 FINANCIAL RESULTS

Northstar Clean Technologies Inc. has filed its 2023 audited annual financial statements and management's discussion and analysis for the year ended Dec. 31, 2023 on the company's profile at SEDAR+. These documents are also available on the company's website.

Aidan Mills, president, chief executive officer and director of Northstar, stated: "Two thousand twenty-three and 2024 have represented a transformational time for the Northstar business. In 2023, the company delivered on a number of critical objectives for the business including: executing a five-year asphalt offtake agreement for the Empower Calgary facility with McAsphalt, a subsidiary of Colas SA, one of the largest global asphalt companies; receiving an Emissions Reduction Alberta circular economy award of $7,088,000 in non-repayable government grants; securing both debt financing for the Empower Calgary facility of $8.75-million from BDC; and a corporate strategic investment from Tamko Building Products, a major U.S. shingle manufacturer, for $10-million (U.S.). The support from major strategic customers, coupled with secured funding, engineering design work and project derisking from the company's pilot facility, enabled us to commence detailed design engineering and place orders for essential long-lead equipment items in the second half of 2023."

Mr. Mills continued: "The first four months of 2024 have also been marked by significant developments for the business. With feedstock supply contracts from Iko Industries Ltd. and Ecco Recycling & Energy Corp., we have secured all our required Empower Calgary facility commissioning volume, the majority of our operating feedstock supply and significant potential upside for the Empower Calgary facility production. We have also completed Empower Calgary facility detailed engineering design and commenced the fabrication phase for the project. The validation of this critical step by both Alberta Innovates and Emissions Reduction Alberta, supported by their recent respective payments of $100,000 and $1.34-million, is a major milestone for the Empower Calgary facility. Lastly, along with Tamko, our strategic partner, we have identified Tamko's asphalt shingle manufacturing plant in Frederick, Md., as the first location for supply for Northstar in the United States."

Q4 2023 highlights:

• October, 2023 -- commenced detailed engineering design for the Empower Calgary facility;
• November, 2023 -- placed orders for three major long-lead equipment items for the Empower Calgary facility, totalling $3.3-million in value;
• November, 2023 -- announced a private placement of convertible debenture units for up to $3.5-million;
• December, 2023 -- announced the closing of the first tranche of the convertible debenture unit private placement for gross proceeds of $2.26-million;
• December, 2023 -- announced a chief financial officer transition and appointed Christopher Park to serve as the company's interim CFO.

Subsequent to Q4 2023:

• January, 2024 -- announced a five-year manufacturing waste asphalt shingle supply agreement with Iko Industries Ltd. for the Empower Calgary facility;
• January, 2024 -- received the first delivery of asphalt shingles from Iko at the Empower Calgary facility;
• February, 2024 -- announced closing of final tranche of oversubscribed private placement, totalling over $3.6-million;
• April, 2024 -- Received ERA approval for grant funding milestone following completion of detailed engineering design;
• April, 2024 -- Northstar and Tamko select Tamko's Frederick, Md., plant as first U.S. supply location;
• April, 2024 -- received $1.34-million from ERA in grant funding following approval of the first milestone of completing detailed engineering design;
• April, 2024 -- announced a three-year asphalt shingle supply agreement with Ecco Recycling & Energ for the Empower Calgary facility and further landfill supply study for Ecco Recycling's construction and demolition landfill in Calgary, which has an estimated 500,000 tonnes of potential shingle supply;
• April, 2024 -- received the first delivery of asphalt shingles from Ecco Recycling at the Empower Calgary facility.

The company will host a virtual investor webcast to discuss these financial results and to provide a business update to the investment community on Tuesday, April 30, 2024, at 2 p.m. PDT/5 p.m. EDT. Details are provided below.

Title: Northstar Clean Technologies 2023 annual financial results

Date: Tuesday, April 30, 2024

Time: 2 p.m. PDT/5 p.m. EDT

Approximately two hours after the question-and-answer session has ended, an archived version of the webcast will be available on-line.

About Northstar Clean Technologies Inc.

Northstar is a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar has developed a proprietary design process for taking discarded asphalt shingles, otherwise destined for already overcrowded landfills, and extracting the liquid asphalt for use in new hot mix asphalt, shingle manufacturing and asphalt flat roof systems, and aggregate and fibre for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale at its first commercial scale-up facility in Calgary, Alta. As an emerging innovator in sustainable processing, Northstar's mission is to be the leader in the recovery and reprocessing of asphalt shingles in North America, extracting the recovered components from asphalt shingles that would otherwise be sent to landfill.

We seek Safe Harbor.