Calgary Scale Up

Highlights:

• First commercial scale-up facility for the Company
• Located 4km from City of Calgary SE Landfill
• Expect to commission in Q4 2024 and enter into commercial operations following completion of commissioning
• Long-term 5+ year 100% offtake with McAsphalt Industries, a wholly owned subsidiary of Colas Canada (subsidiary of Colas SA)
• Entered into Contribution Agreement with Emissions Reduction Alberta (ERA) for $7.1M in project-level government grants
• Secured $8.75M in senior secured project debt from Business Development Bank of Canada (BDC)
• Front-end Engineering Design (FEED) completed in Q1 2022
• Completed detailed engineering design in H1 2024
• Independent Life-cycle Assessment (LCA) completed with 60% CO2e savings
• Targeting 150-200 tonnes per day of processing capacity
• Municipal tipping fee: $113/tonne - link here (as of Dec 2022)

Benefits of Calgary:

• Strategic center of Canada's energy transition economy, including emissions reduction, carbon reduction, alternative feedstocks and recycling
• Strong provincial, municipal, and community support for emissions reduction projects
• Co-location with engineering expertise (e.g. BBA) and skillset (materials handling and hydrocarbon processing)
• Co-location with Canada's major asphalt industry producers, intermediaries, and buyers
• Abundance of highly skilled labour for engineering, materials handling and hydrocarbon processing

Calgary Facility Offtake Partner:

• Northstar has a 5-year take-or-pay agreement with Colas subsidiary McAsphalt Industries in Calgary for 100% of the liquid asphalt to be produced at the Company’s Empower Calgary Facility.
• Read more about the agreement here: Northstar Announces Execution of Definitive Offtake Agreement With Colas Canada's Subsidiary McAsphalt Industries for 100% of Liquid Asphalt Production from Empower Calgary Facility

About McAsphalt Industries Ltd.

For over 50 years, McAsphalt has been the industry's top asphalt expert, offering asphalt products and services from over 27 strategically located terminals across Canada. For more information visit https://mcasphalt.com/

About Colas

The Colas companies in Canada are part of the Colas Group, a world leader in the construction, recycling, and maintenance of transportation infrastructure. Colas, along with their subsidiaries like McAsphalt, are major leaders in the industrial products space, making environmental concerns a priority in their business. For more information visit https://www.colas.com/en