Ms. Miriam Tuerk reports

CLEAR BLUE TECHNOLOGIES ANNOUNCES BOARD OF DIRECTORS RESIGNATION

Clear Blue Technologies International Inc. has provided a board of directors update.

The company announces that Steve Parry and Jane Kearns have resigned from the company's board of directors. Both Ms. Kearns and Mr. Parry have been key advisers and contributors to the company since the foundation of the company. The company thanks them for their service and wishes them well in their future endeavours. Directors Miriam Tuerk, Mark Windrim and John Tuerk will continue to serve on the company's board of directors.

Additionally, as has been previously disclosed by the company, Clear Blue has benefited from several research and development (R&D) grants (as announced on Sept. 22, 2022). As part of those grants, the company commits to investing certain expenditures in R&D and receives payment in the form of grants and interest free loans to assist in this critical investment in the company's green energy and AI (artificial intelligence) technologies.

The company counts on these funds as part of its planning and cash flow management. At this time, the company has been advised that a large grant payment the company is supposed to receive will be delayed and no payment date is certain. This delay is impacting the ability of the company to raise additional financing in the short term. As a result, the company is experiencing cash flow difficulties and may be unable to make certain payments on time. Although the company is attempting to find alternative sources of funding and is also undertaking certain restructuring steps designed to improve the company's cash position, there can be no assurances that additional funding will be obtained and if restructuring goals are not achieved, the company may not be able to continue as a going concern.

"While we are committed to addressing these challenges and we are working with our stakeholders, we must be transparent about our current financial situation," said Miriam Tuerk, chief executive officer of Clear Blue. "We are exploring all available options to enhance our liquidity, including cost-cutting measures, potential financing alternatives and strategic partnerships."

The company is actively working with financial advisers to evaluate its options and is committed to keeping shareholders and stakeholders informed of any significant developments.

About Clear Blue Technologies International Inc.

Clear Blue Technologies International, the leader in smart power, was founded on a vision of delivering clean, managed, wireless power to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices and other mission-critical systems.

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