Justin Cochrane Files Statements of Defence and Counterclaim in Excess of $35 million Against Carbon Streaming Corporation, Marin Katusa and Directors

TORONTO, Sept. 17, 2025 /CNW/ - Justin Cochrane ("Mr. Cochrane") announced today that he has filed a Statement of Defence and Counterclaim (the "Defence") in response to the lawsuit initiated by Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) ("Carbon Streaming").

Mr. Cochrane is one of the founders of Carbon Streaming and its former Chief Executive Officer. As particularized in the Defence, Cochrane was ousted from the organization and terminated effective December 31, 2024.

Mr. Cochrane firmly rejects the unfounded allegations made by Carbon Streaming. His Defence alleges that there is a lengthy and complex history of bad faith conduct which was perpetrated against him by Carbon Streaming at the direction of the company's Chief Executive Officer, Marin Katusa ("Mr. Katusa") and his business associates.

Key Points of the Defence:

• The allegations of breach of fiduciary duty, misrepresentation, and unjust enrichment are wholly without merit and are easily refuted by the company's own documentary records.
• At all material times, Mr. Cochrane carried out the duties of his employment honestly, in good faith, and in order to achieve legitimate business objectives on behalf of Carbon Streaming. Further, Carbon Streaming and its Board of Directors had prior knowledge of any business decisions executed by Mr. Cochrane and it approved those decisions at the time.
• Mr. Katusa made false and misleading statements to his subscribers at Katusa Research in an effort to gain greater control over Carbon Streaming and pursue his own personal agenda.
• As the result of a personal vendetta, Mr. Katusa deliberately targeted Mr. Cochrane and sought to drive him out of the organization after he refused to acquiesce to Katusa's unreasonable demands.

Counterclaim Highlights:

• Mr. Cochrane has filed a counterclaim in excess of $35,500,000 against Carbon Streaming and some of its current Board members in their personal capacities – namely Mr. Katusa, Olivier Garrett ("Mr. Garrett"), Alice Schroeder ("Ms. Schroeder") and Marcel de Groot ("Mr. de Groot"). The Counterclaim defendants have been sued jointly and severally.
• The Counterclaim asserts that Mr. Katusa abused his position of power at Carbon Streaming to advance his personal agenda, marginalize former executives, and divert corporate opportunities.
• Mr. Katusa, Mr. Garrett, Ms. Schroeder and Mr. de Groot engaged in a coordinated campaign of oppressive and bad faith conduct against Mr. Cochrane in order to advance their own self-serving interests. The primary purpose of this campaign was to shroud Mr. Cochrane in controversy and to cause damage to his professional reputation through the pursuit of abusive and bad faith litigation.
• The Counterclaim seeks damages for conspiracy, interference with economic relations, loss of competitive advantage, and other damages arising from the bad faith conduct described in the pleadings.

Statement from Justin Cochrane:

"The claims filed by Carbon Streaming are baseless and misleading. The record will show that all of our decisions were reviewed and approved by the Board, and that we consistently acted with the best interests of the company's shareholders in mind. This litigation is an unfortunate attempt by Mr. Katusa and other members of the Board to silence and discredit us, but we are confident the truth will prevail in court."

Mr. Cochrane will vigorously defend this action and will pursue his counterclaim through the Ontario Superior Court of Justice.

SOURCE Mathers McHenry and Co.

For further information, please contact: Jennifer Mathers McHenry, 647-420-1230, [email protected] Or Devin Jarcaig, 647-420-1234, [email protected]