Northstar Clean Technologies Inc. announced that Northstar and TAMKO Building Products LLC (together, the "Parties") have extended the Memorandum of Understanding ("MOU") exclusivity period from three years to four years and added a fourth facility to the Northstar development plan in the United States ("US"). As previously announced by the Company on July 31, 2023, TAMKO agreed to invest USD 10.0 million as part of the Strategic Investment, composed of Phase 1 of USD 6.4 million of preferred shares at CAD 0.29 per preferred share ("Phase 1"), and Phase 2 of USD 3.6 million in two tranches of Convertible Debentures, each totaling USD 1.8 million ("Phase 2"). As a result of the acceleration, Tranche 1 of USD 1.8 million has now been completed following the Company's completion of ERA Milestone 1 (detailed engineering design) rather than Milestone 3 (Commissioning).

Tranche 2, scheduled to be completed following the Company's completion of Milestone 4, remains unchanged. As part of the Strategic Investment, the Parties executed the MOU that included exclusivity for three years and an undertaking for Northstar to develop three facilities in the US from which TAMKO would offtake liquid asphalt and aggregate. As part of the acceleration, the Parties have revised the existing MOU to extend exclusivity to TAMKO by one additional year to four years and to include a fourth US facility, at the mutual option of both parties.