An anonymous director reports

SHIFTCARBON - FAILURE-TO FILE CEASE TRADE ORDER UPDATE

Shiftcarbon Inc. (formerly Tracesafe) has provided an update to its shareholders and investing public on the status of the failure-to-file cease trade order issued under Multilateral Instrument 11-103 -- Failure-to-File Cease Trade Orders in Multiple Jurisdictions.

As previously announced on April 28, 2023, the company anticipated a delay in the filing of its financial statements, the accompanying management's discussion and analysis for the year ended Dec. 31, 2022, and CEO (chief executive officer) and CFO (chief financial officer) certifications of the annual filings for the year ended Dec. 31, 2022.

The Ontario Securities Commission (OSC) issued a failure-to-file cease trade order (FFCTO) on May 5, 2023, due to delays in filing the annual filings in accordance with regulations.

The company wishes to reassure shareholders that it is working hard to address the present situation and anticipates that it will complete the annual filings on or before May 31, 2023.

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

About Shiftcarbon Inc.

Shiftcarbon provides an innovative platform for carbon accounting, offsets and MRV (measurement, reporting and verification) automation. Businesses can use Shiftcarbon Measure to view a complete picture of their carbon emissions, without the need to hire external consultants or use manual calculations. Shiftcarbon Offset provides enterprises with powerful application programming interfaces that allow customers to embed carbon offsets into their business.

Shiftcarbon also operates TraceSafe, a leading IoT (Internet of Things) cloud platform. The solution uses sensor technology to deliver precise and timely information, powering safer and smarter enterprise environments. With a presence across North America, Asia and Europe, TraceSafe is trusted by leading organizations in health care, hospitality, construction, events, education and government.

We seek Safe Harbor.