Carbon Streaming Announces Financial Results for the Three and Six Months Ended June 30, 2025

Executive Summary

• Carbon Streaming Corporation reported financial results for the three and six months ended June 30, 2025, achieving its best quarterly operating cash flow and lowest operating expenses since inception.
• The Company settled disputes regarding the Rimba Raya Stream and Magdalena Bay Blue Carbon Stream in July 2025, receiving cash proceeds, cancelling shares, and retaining certain future rights.
• The Company filed a statement of claim against former executives and board members to recover financial harm and is actively pursuing legal remedies for arrears on the Amazon Portfolio Royalty and termination issues with the Sustainable Community Stream.

Key Details

• Financial Performance (Q2 2025 vs Q2 2024):
  • Cash Position: Ended quarter with $37.1 million in cash and no corporate debt.
  • Operating Loss: $1.8 million (vs. $3.0 million in Q2 2024).
  • Net Loss: $1.3 million (vs. $2.8 million in Q2 2024).
  • Adjusted Net Income: $0.6 million (vs. adjusted net loss of $1.7 million in Q2 2024).
  • Settlements Generated: $259 thousand in cash from carbon credit streaming/royalty agreements (vs. $507 thousand in Q2 2024).
  • Upfront Deposits Paid: $nil (vs. $4.4 million in Q2 2024).
• Financial Performance (Six Months Ended June 30, 2025):
  • Operating Loss: $3.1 million (vs. $39.8 million in 2024).
  • Net Loss: $2.1 million (vs. $38.5 million in 2024).
  • Adjusted Net Income: $0.1 million (vs. adjusted net loss of $3.2 million in 2024).
• Portfolio Updates & Legal Actions:
  • Rimba Raya Stream: Settled with InfiniteEARTH on July 24, 2025. Terms include $0.7 million cash received, cancellation of 4,539,180 common shares by InfiniteEARTH principals, termination of all contracts, and dismissal of arbitration/civil claims.
  • Magdalena Bay Blue Carbon Stream: Settled with MarVivo on July 24, 2025. Counterparties abandoned the project; Company retained rights for seven years if reactivated and secured mutual release.
  • Amazon Portfolio Royalty: Counterparties in arrears on minimum payments. Company issued Notice of Dispute in August 2025 against Future Carbon International LLC. Outstanding amounts accrue interest at 11.8% per annum.
  • Sustainable Community Stream: Arbitration initiated against Will Solutions Inc. in Q2 2025 following termination in Q3 2024 due to non-compliance. Will Solutions filed a counterclaim in July 2025, which Company considers without merit.
  • Citadelle: Settled lawsuit in June 2025. Company received $0.2 million in cash (full and final resolution) for return of $0.3 million upfront funding plus 12% annualized return.
  • Feather River Reforestation Stream: Mast notified Company in July 2025 it no longer expects to complete the project. Fair value written down to $nil; no cash flow anticipated.
• Operational Changes:
  • Reduced full-time salary recipients from 24 at start of 2024 to 3 by June 2025.
  • CEO receives no salary; CFO receives part-time salary; cash-settled director fees eliminated.
  • Filed lawsuit in Ontario Superior Court of Justice in April 2025 against former executives, directors, consultants, and associated entities.
  • Progressed removal of U.S. legend from 2021 financing securities to broaden trading access.

Notable Quotes

• Marin Katusa, CEO: “In the second quarter of 2025, Carbon Streaming continued to make significant progress in improving financial sustainability, achieving its best quarterly operating cash flow and lowest quarterly operating expenses since the Company began operations, while continuing to evaluate strategic alternatives.”
• Marin Katusa, CEO: “Our priority in 2025 is to continue maximizing value from our existing portfolio while exploring all strategic options to enhance shareholder value, including acquisitions, divestments, corporate transactions, and strategic partnerships.”