Earnings release
Page 1
Northstar Reports Second Quarter 2026 Results, Achieves ERA Milestone 4, and Provides Production Update; Webcast Today CALGARY , AB – September 1 , 2026 – Northstar Clean Technologies Inc. ( TSXV: ROOF, OTCQB: ROOOF ) (“Northstar” or the “ Company”) is pleased to announce its financial and operating results for the three - and six-month period ended June 30, 2026. Selected financial and operational information is set out below and should be read in conjunction with the Company’s June 30, 2026 financial statements and the related management ’s discussion and analysis, which are available for review at www.sedarplus.ca or the Company ’s website at www.northstarcleantech.com. “Given Northstar’s clear strateg ic focus for 2026 on production and operations at the Calgary facility, achieving ERA’s Milestone 4 production targets is an important accomplishment for Northstar and a significant step forward in the ramp-up of Empower Calgary. It reflects the progress we have made in moving the facility toward sustained commercial operations and gives us further confidence in the capability of our technology and facility. During June, processing exceeded 100 tonnes per day and reached a peak of more than 120 tonnes per day . Processing activity occurred toward the end of Jun e, resulting in only modest liquid asphalt sales being recognized during Q2. Since quarter-end, we have continued to advance the facility, achieving record processing volumes during the first three weeks of July and a new peak processing rate of more than 160 tonnes per day, in addition to delivering on the ERA production milestone,” said Aidan Mills, President & CEO of Northstar. “While these peak processing rates are encouraging and demonstrate the capability of our technology, our focus remains on achieving reliable, sustained production rather than maximizing short-term peak throughput. As part of that effort we made the decision in July to pause processing and fast -track a portion of our previously planned winter upgrades to address reliability issues identified during the ramp- up and to perform maintenance on certain parts of the plant . Those upgrades were commissioned in August and maintenance has now been completed. We expect that the plant will be resume operations imminently,” continued Mr. Mills. “ The experience gained through each stage of the Calgary ramp-up continues to strengthen our understanding of the facility and inform both ongoing optimization and the engineering of future Northstar facilities.” Q2 2026 Highlights • April 2026: Northstar Closes Final Tranche of US$10 Million Private Placement
Page 2
Highlights Subsequent to Q2 2026 • July 2026: Northstar Exceeds 120 Tonnes per Day (“tpd”) Processing Rate and Completes Liquid Asphalt Sales to McAsphalt • August 2026: Northstar Awarded New Patent from the USPTO for Proprietary Asphalt Shingle Reprocessing Technology • September 2026: Northstar Achieves Emissions Reduction Alberta (“ERA”) Milestone 4 Emission Reduction Alberta Northstar is pleased to announce that it has successfully achieved ERA Milestone 4 sustained production target following ERA’s technical team approval in late August. The Company expects to receive the ERA grant associated with Milestone 4 in the near future, subject to the applicable project holdback. All remaining project holdbacks, totaling approximately $708,000, are expected to be released following the filing of the final project report, which will be completed after the facility upgrades scheduled this winter. Empower Calgary Update During the second quarter of 2026, Northstar continued the ramp- up of its Empower Calgary facility. Processing rates exceed 100 tpd during June and reached peak processing rate of more than 120 tpd. As meaningful processing activity occurred primarily toward the end of the quarter, liquid asphalt sales recognized during Q2 2026 were modest. Following quarter-end, Empower Calgary achieved record processing volumes during the first three weeks of July, including a new peak processing rate of more than 160 tpd. While these peak rates demonstrate the processing capability of the facility, Northst ar remains focused on achieving reliable and sustained production rather than maximizing short-term peak throughput. In July, the Company paused processing activities to fast- track a portion of upgrades that had previously been planned for the winter and to perform maintenance on certain areas of the facility. The decision was also made to address reliability issues identified during the ongoing ramp-up and support the Company’s objective of achieving more consistent and sustained operations. The accelerated upgrades were commissioned in mid-August, with maintenance completed in late August. The Empower Calgary facility is expected to return to normal operations in the coming days.
Page 3
The operating experience and data generated through the ramp-up of Empower Calgary continue to inform ongoing optimization of the facility and are being incorporated into the engineering and design of future Northstar facilities. Financial Results For the quarter ended June 30, 2026, the Company reported revenue of $208,873 and gross profit of $54,019 compared to revenue of $142,487 and gross profit of $194,780 for the quarter ended June 30, 2025. The decrease in gross profit is mainly attributable to $132,779 in grant funding received from ERA and allocated to Cost of Sales in Q2 2025. The Company reported a loss and comprehensive loss of $ 3,047,197 for the quarter ended June 30, 2026 compared to a loss and comprehensive loss of $ 3,130,135 for the quarter ended June 30, 2025. As at June 30, 2026, the Company had cash and cash equivalents of $6,163,685 (June 30, 2025 - $2,041,421). Investor Webcast The Company will host a virtual investor webcast to discuss these financial results and to provide an operational update this morning, Tuesday, September 1, 2026, at 06:30 MDT / 08:30 EDT. Details are provided below. Title: Northstar Clean Technologies Q2 2026 Interim Results and Operational Update Date: Tuesday, September 1, 2026 Time: 06:30 MDT / 08:30 EDT Registration: https://us06web.zoom.us/webinar/register/4217876024238/WN_o4Cj72KFT- SpTzqqLbdaNA Approximately two hours after the Q&A session has ended, an archived version of the webcast will be available via the webcast URL above. About Northstar Northstar is a Canadian waste to value technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over -crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems while also extrac ting aggregate, limestone and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its four primary components for reuse/resale with its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar’s mission aims at leading the recovery and reprocessing of asphalt shingles in North America that would otherwise be sent to landfill addressing numerous stakeholder objectives.
Page 4
For further information about Northstar, please visit www.northstarcleantech.com. On Behalf of the Board of Directors, Aidan Mills President & CEO, Director Northstar Investor Relations Inquiries: Kin Communications Phone: 604 684 6730 Email: ROOF@kincommunications.com Cautionary Statement on Forward-Looking Information Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. This press release may contain forward‐looking information within the meaning of applicable securities legislation, which forward‐looking information reflects the Company’s current expectations regarding future events. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “aim”, “focus”, “continues” or similar expressions. Forward- looking statements in this press release include statements conc erning: ( i) the Company’s plans for its inaugural commercial facility in Calgary, including with respect to resumption of operations at such facility; (ii) the Company’s strategic priorities, development plans and expected future activities; (iii) the Company’s ability to execute its business plans; (iv) the expected timing of receipt of ERA grant payments; and (v) the expected release of holdbacks related to ERA grant payments and the satisfaction of conditions precedent to such release. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including: risks related to factors beyond the control of the Company; inability of the Company to execute on its business plans; the Company may require additional financing which may not be obtainable or on favourable terms; regulatory approvals, filings or other requirements may impact the timing and terms of the Company’s plans; economic uncertainty; and the risks and uncertainties which are more fully described under the heading “Risk Factors” in the Company’s annual and quarterly management’s discussion and analysis and other filings with the Canadian securities regulatory authorities under the Company’s profile on SEDAR+. No assurance can be given that any of the events anticipated by the forward- looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward‐looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
Page 5
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward- looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, est imated, expected or aimed. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward- looking statements except as otherwise required by applicable law.