News Releases

CEO Sunny Trinh set to speak on a panel entitled “The Argument for High-Integrity Carbon Markets”

VANCOUVER, BC, February 26, 2024 – DevvStream Holdings Inc. (“DevvStream” or the “Company”) (Cboe CA: DESG) (OTCQB: DSTRF) (FSE: CQ0), a leading carbon credit project co-development and generation firm specializing in technology-based solutions, today announced that CEO Sunny Trinh has been invited to speak at a high-level special session convened by the United Nations Science-Policy-Business Forum on the Environment (“UNSPBF”), entitled “The Argument for High-Integrity Carbon Markets.” The event is scheduled to take place in Nairobi, Kenya on February 27, in the context of the 6^th Session of the United Nations Environment Assembly (“UNEA-6”) set for later this year.

The high-level panel will run for 1 hour in a moderated, rapid-fire format, including an open floor segment, and will focus on addressing issues related to greenwashing and the need for clearer guidelines on credit quality and claims. Participants will also explore the role of the private sector in driving accountability and integrity in carbon markets, as well as the need for clearer global standards and consistent guidelines to bolster market confidence and integrity. The session will culminate in a series of one-on-one meetings to develop concrete action plans. A report of proceedings will be produced by the Earth Negotiations Bulletin / International Institute for Sustainable Development (IISD).

Other panelists include:

• H.E. José Duarte Cordeiro, Minister for the Environment and Climate Action, Portugal
• Hon. Soipan Tuya, Cabinet Secretary, Ministry of Environment, Climate Change and Forestry, Kenya
• Jenni Pitko, Member of Parliament, Finland
• Prof. Zhang Li, Director, Green Inclusive Carbon Neutrality Center
• Philippe Zaouati, CEO, Mirova
• Gabriel Labbate, Co-chair of the Expert Panel, Integrity Council for the Voluntary Carbon Market
• Tracy Lane, Associate Director, KPMG East Africa

Event details can be accessed at the following link: https://un-spbf.org/special-session-of-the-un-science-policy-business-forum-at-unea6/programme/#partTwo.

“I’m honored to have the opportunity to represent DevvStream on the global stage and look forward to engaging with leaders on the important topic of ensuring integrity and restoring confidence in carbon markets,” said Mr. Trinh. “Transparency, accountability, and measurability are the pillars of DevvStream’s mission to democratize access to carbon markets, and that is a major reason why we have focused our attention on technology-based carbon offsetting solutions. Moving forward, in order to unlock the full potential of carbon credits as a valuable tool for meeting decarbonization goals, it is critical that we restore confidence in carbon markets through an industry-wide commitment to transparency.”

Through DevvStream’s Carbon Management and Carbon Investment platforms, the Company is focused on the co-development and generation of technology-based carbon offset credits, in partnership with governments and corporations worldwide, across voluntary and compliance markets. These programs leverage a systematic approach to the process of generating high quality technology-based carbon credits by partnering with project owners to either directly invest as a co-developer or execute project design, documentation, and certification efforts and associated costs in exchange for a substantial portion of multi-year carbon credit streams. Typical projects incur ongoing management and administrative costs during the contract term and generate recurring streams of carbon credits. Through a curated, technology-focused approach to the implementation of green technology projects, DevvStream aims to democratize access to carbon markets while helping governments and corporations worldwide meet their sustainability goals.

The interactive session will be featured as part of a full-day agenda in support of UNEA-6 and is intended to inform ministerial consultations held by Member States on the topic of carbon markets. Participants will include representatives from the business sector, governments, scientific institutions and civil society leaders.

About DevvStream

Founded in 2021, DevvStream is a leading authority in the use of technology in carbon project development. The Company’s mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health. With a pipeline of over 140 technology-based projects worldwide, DevvStream makes it simple for corporations and governments to address their net-zero goals while generating premium carbon credits in the process. DevvStream takes a programmatic approach to evaluating project opportunities, and co-develops projects spanning energy-efficient buildings, facilities and homes, industrial facilities, LED systems, EV charging stations, and technologies to seal oil wells. The Company’s end-to-end proprietary solution removes the risk and complexity from every step, allowing organizations to move from project ideation to credit monetization with ease. The result is a multi-year stream of carbon credit revenue that transforms sustainability into a financial investment. In addition, for organizations that need help to offset their most difficult-to-reduce emissions, we also provide premium carbon credits for purchase.

On September 13, 2023, DevvStream and Focus Impact Acquisition Corp (Nasdaq: FIAC) (“Focus Impact”) announced that they have entered into a definitive business combination agreement for a business combination that would result in the combined company (DevvStream) to be listed on the Nasdaq Stock Market under the ticker symbol “DEVS”. On December 11, 2023, DevvStream announced the filing of a registration statement on Form S-4 with the U.S. Securities and Exchange Commission, which contains a preliminary proxy statement/prospectus in connection with the proposed business combination between DevvStream and Focus Impact (the “Business Combination”). Upon closing, the Business Combination is expected to result in DevvStream being the first publicly traded carbon credit company on a major U.S. stock exchange.

Disclaimer

Certain statements in this news release may be considered forward-looking statements. Forward-looking statements are statements that are not historical facts and generally relate to future events or DevvStream’s future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. These forward-looking statements, including, without limitation DevvStream’s expectations with respect to future performance and anticipated financial impacts of the Agreement and Business Combination are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DevvStream and its management, are inherently uncertain and subject to material change. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any subsequent definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against Focus Impact, DevvStream, the combined company or others; (3) the inability to complete the Business Combination due to the failure to obtain approval of the stockholders of Focus Impact and DevvStream or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations; (5) the ability to meet Nasdaq’s or another stock exchange’s listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Focus Impact or DevvStream as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that Focus Impact, DevvStream or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) estimates of expenses and profitability and underlying assumptions with respect to stockholder redemptions and purchase price and other adjustments; (12) various factors beyond management’s control, including general economic conditions and other risks, uncertainties and factors set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Registration Statement on Form S-4 that includes a proxy statement and prospectus of Focus Impact (as amended, the “Registration Statement”), filed with the SEC on December 4, 2023, and other filings with the SEC; and (13) certain other risks identified and discussed in DevvStream’s Annual Information Form for the year ended July 31, 2023, and DevvStream’s other public filings with Canadian securities regulatory authorities, available on DevvStream’s profile on SEDAR at www.sedarplus.ca.

These forward-looking statements are expressed in good faith, and DevvStream believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and DevvStream is not under any obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in DevvStream’s public filings with Canadian securities regulatory authorities. This news release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in DevvStream and is not intended to form the basis of an investment decision in DevvStream. All subsequent written and oral forward-looking statements concerning DevvStream, the proposed transaction or other matters and attributable to DevvStream or any person acting on DevvStream’s behalf are expressly qualified in their entirety by the cautionary statements above.

On Behalf of the Board of Directors,

Sunny Trinh, CEO

DevvStream Media Contacts
DevvStream@icrinc.com and info@fcir.ca
Phone: (332) 242-4316