Klimat X Developments Inc. announce the appointment of Abayomi Akinjide to the Board. Mr. Akinjide is a Partner and Co-Leader of the Global Energy and Climate Group in the London office of the law firm Fasken. His practice is global and he is recognised as an expert on Africa, a continent where Klimat X is actively developing a pipeline of carbon credit projects.

Mr. Akinjide is dual qualified in England and Wales and Nigeria. In addition to his global practice, he is an expert in Nigerian corporate and oil and gas law and has published various legal materials in Nigeria and has spoken at seminars on matters relating to the Nigerian legal system. He has substantial experience in complex cross-border mergers and acquisitions, financings, private equity transactions, drafting commercial agreements, advising on joint ventures and many other legal issues.

He has a strong understanding of financial markets and is a skilled negotiator, dealing with both transaction counterparties and regulators. He has advised a number of clients, including banks, brokers, private equity sponsors and corporates. The Corporation also announces that Chris Colborne resigned from the board of directors of the Corporation, effective as of the date of this press release.

The Corporation and Mr. Colborne have also mutually decided to terminate Mr. Colborne's employment relationship with the Corporation, effective as of the date of this press release. Previously, Mr. Colborne held the position of Chief Financial Officer with the Corporation. The Corporation announced it has secured the services of Matt Roma as CFO and Corporate Secretary.

Matthew Roma is a Charter Professional Accountant (CPA) and the CEO of RW Global Consulting Corp., a private company providing corporate finance, accounting and capital advisory services to private and public companies. In this role, Mr. Roma serves as a director and/or officer to a number of venture public companies in the natural resource and technology sectors. Mr. Roma articled at Deloitte LLP, where he specialized in assurance and advisory services for publicly listed companies based both in Canada and the United States.

The Corporation and Mr. Colborne have also mutually decided to maintain Mr. Colborne's involvement through a consulting relationship with the Corporation, effective as of the date of this press release, to aid the Corporation in transition. The Corporation would like to thank Mr. Colborne for his service and wishes him well in his future endeavors. Grant of Stock Options On October 14, 2022, Klimat X granted an aggregate of 1,550,000 incentive stock options to purchase common shares of the Corporation to certain directors pursuant to the Corporation's equity incentive plan.

The Options are exercisable as a price of $0.20 per Common Share and have an expiry date of five years from the date of grant, being October 14, 2022.