Dr. Andrew Benedek Reports Ownership of Multiple Voting Shares of Anaergia Inc.

CARLSBAD, Calif., March 17, 2022 /CNW/ - Dr. Andrew Benedek announced today that he will acquire beneficial ownership of 32,222,369 multiple voting shares (the "Multiple Voting Shares") of Anaergia Inc. ("Anaergia"), representing 100% of the Multiple Voting Shares and approximately 55% of the total issued and outstanding Multiple Voting Shares and subordinate voting shares of Anaergia (collectively, the "Shares") (as reported in Anaergia's management's discussion and analysis dated November 11, 2021), effective as of March 17, 2022. The Multiple Voting Shares that will be beneficially owned by Dr. Benedek represent approximately 83% of the voting power attached to all of the Shares (as reported in Anaergia's management's discussion and analysis dated November 11, 2021).

The Multiple Voting Shares were initially issued to NEO International Investments Ltd. ("NEO") pursuant to certain reorganization transactions completed in connection with the initial public offering of Anaergia completed on June 23, 2021. The Multiple Voting Shares will be transferred to Dr. Benedek effective March 17, 2022 pursuant to a private agreement with NEO for no cash consideration.

The Multiple Voting Shares are being acquired by Dr. Benedek for investment purposes. Subject to applicable law and other agreements to which he is party, Dr. Benedek may from time to time in the future acquire or dispose of securities of Anaergia.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires that an early warning report be filed under Anaergia's profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Hani El-Kaissi, Chief Financial Officer of Anaergia (tel: [phone]; email: [email protected]). Anaergia's head office is located at 4210 South Service Road, Burlington, Ontario, L7L 4X5.

Dr. Benedek is the Executive Chairman and Chief Executive Officer of Anaergia. His address is 705 Palomar Airport Road, Suite 200, Carlsbad, California, 92011.

SOURCE Andrew Benedek

A copy of such report may be obtained by contacting Hani El-Kaissi, Chief Financial Officer of Anaergia (tel: [phone]; email: [email protected])