Calgary, Alberta--(Newsfile Corp. - August 26, 2024) - Green Impact Partners Inc. (TSXV: GIP) ("GIP" or the "Company") is pleased to provide a summary of its second quarter 2024 results and key highlights to date.

Highlights

Finalized Carbon Credit Pathways for the Future Energy Park: In July 2024, the Company finalized the carbon credit pathways under the Alberta Technology Innovation and Emissions Reduction program for the Future Energy Park. In addition, as part of ongoing development activities, GIP has also successfully finalized agreements to sequester the biogenic CO2 from the facility. With these two major milestones now complete, the Future Energy Park will continue to advance through the next stages of the debt and equity financing process.

Close of Colorado JV Investment Tax Credits ("ITCs") for Gross Proceeds of $28.9 Million: The Colorado JV closed the Purchase and Sale Agreement for the ITCs for total sales proceeds of $28.9 million (US$21.1 million). GIP received a net distribution from the Colorado JV of $17.8 million (US$13.0 million) after the replenishment of the debt service reserve account for the Colorado JV. With completion of this transaction and receipt of the net proceeds, GIP's total net capital investment for its 50% interest in the Colorado JV is $6.7 million (US$4.9 million).

Colorado JV Sites Producing Gas Commercially: The two Colorado JV facilities are producing and selling gas commercially. During the second quarter of 2024, the local utility worked to resolve their technical issues and are now able to accept gas production in the pipeline system for the second facility. In addition, the Company, as operator of the Colorado JV, continues to work with the Engineering, Procurement and Construction Contractor on optimizing the equipment and related processes to achieve consistent, targeted production.

"I am pleased with the progress we have made in the first half of the year on the Future Energy Park, particularly with commercial agreements, completing offtake arrangements, engineering and design, procurement and construction contracts and schedules," said Jesse Douglas, Chief Executive Officer. "Projects of this magnitude require a team that is relentless in its approach, and I am confident in our team's ability as we move to the next phase of arranging project debt and equity so that we can start construction."

FINANCIAL HIGHLIGHTS

1 See Non-IFRS Measures below
2 To ensure consistency, the prior period Adjusted EBITDA has been amended from previously presented Adjusted EBITDA to adjust for the Company's portion of the Colorado JV's interest expense, interest rate swaps, depreciation and other finance costs.

Revenue: Revenues increased by $2.0 million for the three months ended June 30, 2024, but decreased by $3.2 million for the six months ended June 30, 2024, compared to the same period in the prior. The volume of Energy Product Optimization Services decreased for both the three and six months ended June 30, 2024, compared to the same periods in the prior year. However, for the three months ended June 30, 2024, the revenue decline was more than offset by higher commodity prices compared to the same period in 2023. For the six months ended June 30, 2024, the increase in commodity prices only partially offset the revenue decrease.

Adjusted EBITDA: Adjusted EBITDA increased by $1.3 million for the three months ended June 30, 2024, and by $0.4 million for the six months ended June 30, 2024, compared to the same periods in the prior year. These increases were primarily driven by the factors discussed above, along with reduced utility costs, which were more in line with historical averages, and lower selling, general and administration expenses. However, these gains were partially offset by higher salaries and wages due to increased staffing levels. The improvement in the six-month period was lower than that for the three-month period due to costs incurred for a well workover at one of the Company's facilities in the first quarter.

For a more detailed discussion on GIP's results for the three and six months ended June 30, 2024, please see the Company's financial statements and management's discussion & analysis ("MD&A"), which are available at: and on the Company's SEDAR+ page at .

About Green Impact Partners

Green Impact Partners is forging a path towards a sustainable future by turning waste into renewable energy. With a focus on renewable natural gas (RNG) and bio-energy projects, our mission is to acquire, develop, construct, and operate facilities that not only produce energy but also play an important role in waste reduction and lowering emissions. Our comprehensive approach spans the entire project life cycle, from idea generation through construction to ongoing operations. In addition to our RNG and bio-energy projects, GIP maintains a current portfolio of water and solids treatment and recycling facilities in Canada, alongside a solids recycling business in the United States.

Traded on the TSX Venture Exchange under the symbol GIP, Green Impact Partners invites you to join us in our journey. For more information about GIP, please visit .

Non-IFRS Measures

EBITDA is defined as earnings before interest, taxes, depreciation, and amortization. EBITDA is a non-IFRS measure, calculated by adding back the impacts of income tax, finance costs, depreciation and amortization to net income (loss) for the period. Net income (loss) is the most directly comparable IFRS financial measure. EBITDA does not have a standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures provided by other issuers. Management believes EBITDA is an important performance metric that measures recurring cash flows before changes in non-cash working capital.

Adjusted EBITDA is defined as EBITDA adjusted for certain non-operating, non-recurring and non-cash items. Adjusted EBITDA is used by management to evaluate the earnings and performance of the Company before consideration of capital, financing and tax structures. Net income (loss) is the most directly comparable IFRS financial measure. Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures provided by other issuers. Prior period Adjusted EBITDA has been calculated and presented in accordance with the current period calculation and presentation.

Management believes that in addition to net income (loss), Adjusted EBITDA is a useful supplemental measure to enhance investors' understanding of the results generated by the Company's principal business activities prior to consideration of how those activities are financed, how the results are taxed, how the results are impacted by non-cash charges, and charges that are irregular in nature or not reflective of the Company's core operations. Management calculates these adjustments consistently from period to period. Adjusted EBITDA is used by management to determine the Company's ability to service debt and finance capital expenditures. Management believes that Adjusted EBITDA as a measure is indicative of how the fundamental business is performing.

Cautionary Statements

This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. When used in this release, such words as "would", "will", "anticipates", believes", "explores" and similar expressions, as they relate to GIP, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of GIP with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause GIP's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: the impact of general economic conditions in Canada and the United States, inflation and trailing effects of the COVID-19 pandemic; industry conditions including changes in laws and regulations and/or adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, in Canada and the United States; volatility of prices for energy commodities; change in demand for clean energy to be offered by GIP; competition; lack of availability of qualified personnel; obtaining required approvals of regulatory authorities, in Canada and the United States; ability to access sufficient capital from internal and external sources. Many of these risks are beyond the control of GIP. For a more fulsome list of risk factors please see GIP's December 31, 2023 year end Management Discussion and Analysis. Forward-Looking statements included in this news release should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such forward-looking statements.

In particular, this news release contains forward-looking statements pertaining to but not limited to the following: timing and ultimate closing of debt and equity initiatives for the Future Energy Park; timeline of construction and ultimate completion of the Future Energy Park. Readers are encouraged to review and carefully consider the risk factors pertaining to GIP described in the Company's annual MD&A for the year ended December 31, 2023, which is accessible on GIP's SEDAR+ issuer profile at . The forward-looking statements contained in this release are made as of the date of this release, and except as may be expressly be required by law, GIP disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Management of GIP has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide shareholders with a more complete perspective on GIP's current and future operations and such information may not be appropriate for other purposes. GIP's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits GIP will derive therefrom.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.