New Risk • Jun 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.6m free cash flow). Negative equity (-CA$1.7m). Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$14.7m market cap, or US$10.4m). Announcement • May 28
Cielo Waste Solutions Corp. Provides Update on British Columbia SAF Project, Renames It Project Nahoonai, and Integrates Carbon Capture and Storage Cielo Waste Solutions Corp. had provided an update on its flagship sustainable aviation fuel ("SAF") project located in British Columbia, which has been renamed Project Nahoonai, and confirmed the integration of carbon capture and storage ("CCS") into the project design to deliver a SAF product with what the Company expects to be the lowest carbon intensity profile of any commercial-scale SAF project currently advancing in North America. The Company’s British Columbia SAF project, previously referred to as Project Nexus, has been renamed Project Nahoonai. The name is a Dakelh word selected in consultation with, and approved by, the Lheidli T’enneh First Nation, on whose traditional territory the project is being developed. Project Nahoonai is a commercial-scale SAF project that does not rely on food-derived feedstocks such as corn, soy, canola, or used cooking oils. The project is intended to convert sustainable forestry residues, including harvest, mill, and forestry residuals, together with used railway ties and other waste woody materials, into a high-value, low-carbon transportation fuel. Project Nahoonai is being designed with integrated CCS, capturing the biogenic CO2 generated during the conversion process and permanently storing it. The result will be a carbon-negative SAF product positioned as a compliance fuel under British Columbia’s Low Carbon Fuel Standard ("LCFS") and Canada’s Clean Fuel Regulations ("CFR"). Under the LCFS and CFR, each tonne of CO2 captured and permanently stored generates additional credit value, materially strengthening the project’s economics relative to conventional SAF pathways. Prince George offers a competitive advantage that few SAF locations in North America can match in management’s view, with concentrated sawmill and pulp infrastructure, an established forestry workforce, year-round rail and highway access, and proximity to deep-water export through the Port of Prince Rupert. Announcement • Apr 17
Cielo Waste Solutions Corp. Appoints Kaush Rakhit as Director Cielo Waste Solutions Corp. announced that in connection with the closing of the acquisition of certain proprietary project development and evaluation assets from CDL Biofuels Ltd., Kaush Rakhit has been appointed to the board of directors of the Company. 
