Northstar Clean Technologies (ROOF) investor relations material

Executive summary

• First commercial facility constructed, commissioned, and ramping up, producing high-quality asphalt products and demonstrating technological viability.

• Achieved key commissioning milestones at the Calgary Empower Facility, including successful operation of both water-based and hydrocarbon-based processes, producing high-quality asphalt exceeding required specifications.

• Received a second Canadian patent for proprietary asphalt reprocessing technology, extending protection until 2042 and strengthening competitive position in waste-to-value industry.

• Expansion plans for Hamilton, U.S. locations, and Delta, BC are progressing, with permitting and funding initiatives underway.

• Continuous improvement and lessons learned from the first facility are being integrated into future projects to enhance efficiency and reduce lead times.

Financial highlights

• No product revenues generated in Q2 2025; comprehensive loss of $3.13 million, up from $1.38 million year-over-year due to increased personnel and operational preparation costs.

• CapEx decreased to $1.9 million from $4.1 million year-over-year as Calgary facility construction neared completion; capital expenditures totaled $1.95 million in Q2 2025 and $6.03 million for the first half.

• $3.9 million received from Emissions Reduction Alberta for milestone achievement.

• Working capital deficit of $1.7 million at quarter-end, with $1.5 million in convertible debentures due within 12 months.

• Net cash used in operating activities was $918,205 for Q2 2025 and $3.26 million for the first half of 2025.

Outlook and guidance

• Targeting ERA commissioning milestone and operational target of 80 tons per day by year-end.

• Plans to ramp up to full single-shift capacity (150 tons/day) and eventually 24/7 operation, dependent on feedstock.

• Expansion to Hamilton and U.S. sites prioritized, with ongoing portfolio development for additional facilities.