Zefiro helped fund and provide input on Isometric's new Orphaned Well Plugging Protocol, now open for public consultation

Once finalized, the protocol is expected to put Zefiro back in the business of originating carbon credits, incremental to record fiscal 2026 revenue of US$42.5 million

Isometric's customers include Microsoft, Boeing and JPMorgan Chase, and NYSE parent Intercontinental Exchange recently joined its US$50 million Series A

According to MSCI, capital committed to carbon credits hit a record US$22 billion in 2025, and the market could be worth US$60 billion to US$270 billion by 2050

Bradford, Pennsylvania--(Newsfile Corp. - November 2, 2026) - Zefiro Methane Corp. (CBOE CA: ZEFI) (FSE: Y6B) (OTCQB: ZEFIF) (the "Company", "Zefiro", or "ZEFI"), a North American environmental services company specializing in methane abatement and the plugging of orphaned and end-of-life oil and gas wells, today announced that it has provided support for the upcoming launch of a new carbon credit methodology for plugging orphaned oil and gas wells in the United States and Canada. The Orphaned Well Plugging ("OWP") Protocol, developed by carbon registry Isometric, is nearing completion and, once finalized, is expected to once again give Zefiro the ability to originate carbon credits from the same type of well-plugging work it performs today.

Isometric counts some of the world's best-known companies among its customers, including Microsoft, Boeing, JPMorgan Chase and Anglo American. The London-based certification company began in carbon removal and has since expanded into industrial emissions, energy, fuels and materials. Isometric says it serves more than 200 projects worldwide and has been contracted to certify more than 16 million tonnes. In September 2026, Intercontinental Exchange, Inc., the parent company of the New York Stock Exchange, joined Isometric's Series A financing. The two companies plan to combine Isometric's certification technology with ICE's market infrastructure and data capabilities.

Isometric released the draft OWP Protocol on October 15, 2026, opening a 30-day public consultation period that ends November 14, 2026. The protocol sets out requirements for projects that permanently plug leaking orphaned wells to stop methane from escaping into the atmosphere. Credits are based on a direct, on-site measurement of each well's methane leak before plugging, projected over a 20-year crediting period using a conservative decline rate, with a permanence check 12 to 18 months after plugging and a portion of credits withheld until the well is confirmed sealed. To be eligible, a project must show that a well is orphaned, is not scheduled for plugging by a public program, and would not have been plugged without carbon finance. Further details are available in Isometric's announcement.

Zefiro's Supporting Role

The OWP Protocol was developed by Isometric's Science Team and reviewed by members of Isometric's Science Network of more than 500 academic experts. Zefiro's role was that of an external contributor as it was one of three orphaned well project developers that part-funded the protocol's development, and it provided expert input drawn from its field operations and carbon market experience. As Isometric noted in its announcement, funding does not influence a protocol's requirements, and credits are issued only where an independent, accredited auditor has confirmed that a project is compliant.

Zefiro's input was provided by Sam Jennings, the Company's Director of Carbon Operations, and Tina Reine, its Chief Commercial Officer. Mr. Jennings is a second-generation petroleum landman with two decades of experience at Shell, ConocoPhillips, Marathon and Devon. Ms. Reine, who leads Zefiro's activities in the voluntary carbon markets, has worked in environmental markets since 2007. She helped build out environmental markets divisions at JPMorgan and NextEra Energy, previously served as Director of Commercialization for the carbon offset market at World Kinect Energy Services, and holds an MBA from Columbia Business School.

In Isometric's announcement, Mr. Jennings commented: "We appreciate Isometric's work to advance carbon finance for orphaned well plugging and welcome this public consultation. Credible methane credits depend on measurable, verifiable reductions grounded in field measurements of actual leakage and defensible projections of future emissions. A framework that combines scientific rigor with the practical requirements of financing and delivering well-plugging projects can help attract the investment needed to plug more leaking orphaned wells."

Carbon Credit Track Record and Market Opportunity

Zefiro brings a proven track record to this market. The Company completed the first-ever sale of carbon offsets originated under the American Carbon Registry's orphaned well methodology, delivering credits to institutional buyers including Mercuria Energy America, LLC and EDF Trading, transactions that resulted from commercialization efforts led by Ms. Reine. Once the OWP Protocol is finalized, Zefiro expects to resume originating carbon credits, drawing on the same crews, rigs and in-house methane measurement capabilities it deploys every day for its government and private-sector customers.

The protocol arrives as institutional buyers are committing record levels of capital to carbon credits. According to MSCI, capital committed and deployed into the global carbon credit market reached a record US$22 billion in 2025, including US$14.2 billion from corporate buyers, more than triple the prior year, while the value of offtake agreements nearly tripled to US$12.3 billion. Buyers are also paying a growing premium for quality. Looking ahead, MSCI estimates the carbon credit market could be worth US$5 billion to US$20 billion by 2030 and US$60 billion to US$270 billion by 2050.

Any revenue Zefiro generates from carbon credits would be in addition to its existing revenue base, which reached a record US$42.5 million in fiscal 2026, ended June 30, 2026, an increase of 31.1% from fiscal 2025. Because the OWP Protocol applies only to orphaned wells that are not scheduled for plugging by a public program and would not be plugged without carbon finance, carbon-financed projects would add to, rather than displace, the government-funded and private-sector work that drives Zefiro's business today.

Management Commentary

Zefiro Chief Executive Officer Catherine Flax commented: "Zefiro helped demonstrate that institutional buyers will pay for methane reductions from plugged orphaned wells, and we are pleased to support Isometric's work on a protocol grounded in direct field measurement. For our shareholders, the opportunity is additive. Carbon finance gives us a way to plug orphaned wells that no public program is scheduled to address, using the same crews and equipment that already serve our government and private-sector customers."

Zefiro Chief Commercial Officer Tina Reine added: "I've worked in environmental markets for nearly two decades, and today's buyers are clear about what they want, credits they can measure, verify and defend. Credits from plugged orphaned wells, grounded in direct field measurement of methane that would otherwise keep leaking, meet that standard. When blue-chip companies rely on Isometric's certification and the parent company of the New York Stock Exchange invests in its growth, that is a strong signal of where institutional demand is heading. Our team has already originated and delivered orphaned well credits to institutional buyers, and the OWP Protocol is the opening we have been preparing for."

Marketing Services Agreement

The Company has re-engaged Apaton Finance GmbH ("Apaton") of Hanover, Germany, creator of the Company's successful Hazard Below Documentary, to provide marketing services, including online articles, digital and email marketing, a video interview and an investor conference presentation, directed primarily at the European market. The agreement is effective October 29, 2026, has an expected term of approximately 12 months and provides for a cash fee of €24,167 per month plus applicable taxes. No securities will be issued as compensation. To the Company's knowledge, Apaton is arm's length to the Company and does not hold any securities of the Company.

About Zefiro Methane Corp.

Zefiro Methane Corp. (CBOE CA: ZEFI) (FSE: Y6B) (OTCQB: ZEFIF) is a North American environmental services company specializing in methane abatement and the plugging of orphaned and end-of-life oil and gas wells. Through operating subsidiary Plants & Goodwin, Inc., a third-generation well services company with a 50-plus-year operating history, Zefiro is vertically integrated across the well lifecycle of measurement and monitoring, plugging and abandonment, site restoration, and carbon credit origination, serving government and private-sector customers across 15 U.S. states. For more information, visit zefiroglobal.com.

Notice Regarding References to Zefiro Entities

In this press release, the standalone name/term "Zefiro" collectively refers to both (i) Zefiro Methane Corp. (incorporated in the province of British Columbia, Canada) and (ii) Subsidiaries of Zefiro Methane Corp. unless explicitly stated or otherwise implied by the context. Likewise, first-person linguistic mechanisms such as "We", "Our", and "Us" also collectively refer to Zefiro Methane Corp. and its subsidiaries unless explicitly stated or otherwise implied by the context.

For instances in which a precise entity must be identified, the exact legal name of the entity in question will generally be stated (e.g., "Zefiro Methane Corp." would refer to this entity only and not any of its subsidiaries).

This convention is used only for convenience to facilitate simple and plain-language disclosures to investors, and a comprehensive overview of Zefiro Methane Corp.'s subsidiaries that are collectively referred to with the "Zefiro" name/term can be found in the Company's most recent MD&A, which can be accessed on SEDAR+ at www.sedarplus.ca/.

Forward-Looking Statements

This news release may contain forward-looking information and forward-looking statements within the meaning of applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements are based on the current expectations, estimates, projections, beliefs, and assumptions of management of the Company as of the date of this news release. Forward-looking statements may be identified by words such as "anticipates," "expects," "intends," "plans," "believes," "estimates," "may," "will," "should," "could," "potential," and similar expressions, although not all forward-looking statements contain such words. These statements include, without limitation, expectations concerning the Company's operational outlook, the development, finalization, implementation, and anticipated benefits of carbon credit methodologies and protocols, the Company's ability to originate, verify, certify, and commercialize carbon credits, potential carbon credit revenues and market opportunities, demand for environmental services, business opportunities, and future operations, subject to applicable independent verification and certification requirements. Such statements are based on assumptions considered reasonable by management, including the anticipated finalization and implementation of applicable or proposed carbon credit protocols, the Company's ability to identify and develop eligible projects, obtain necessary approvals, consents, operating rights, and financing, satisfy applicable measurement and verification requirements, secure independent certification, and the absence of material adverse changes in economic, regulatory, or carbon market conditions.

Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, many beyond the Company's control, that could cause actual results to differ materially from those expressed or implied. These factors include, without limitation: (i) adverse economic and market conditions; (ii) changes in carbon credit markets, pricing, demand, policies, regulations, or environmental programs; (iii) delays, modifications, or failure to finalize or implement carbon credit methodologies or protocols, including the possibility that final requirements differ materially from those currently anticipated; (iv) uncertainty regarding the Company's ability to identify eligible projects, secure necessary rights and financing, and satisfy applicable eligibility, additionality, measurement, verification, and permanence requirements; (v) delays, limitations, or failure in the validation, verification, certification, issuance, sale, or monetization of carbon credits; (vi) operational, technical, environmental, permitting, labor, and equipment-related risks affecting project execution or costs; (vii) financing, liquidity, and working capital requirements; and (viii) reliance on carbon registries, independent auditors, customers, contractors, suppliers, and other third parties. Additional risks are described in the Company's management's discussion and analysis, annual information form, and other continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These risks are not exhaustive. Although management considers its assumptions reasonable, there can be no assurance that anticipated results or events will occur as expected or at all. Readers should not place undue reliance on these statements, which speak only as of the date of this news release. The Company undertakes no obligation to publicly update or revise them, except as required by applicable law.

Also, this news release may include market and industry data obtained from publicly available sources and other third-party sources believed by the Company to be reliable. The Company has not independently verified all such information, including the underlying reports, methodologies, assumptions, or projections, and makes no representation or warranty as to its accuracy or completeness.

This news release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Zefiro Methane Corp., nor shall it form the basis of or be relied upon in connection with any investment decision.

Statement Regarding Third-Party Investor Relations Firms

Disclosures relating to investor relations firms retained by Zefiro Methane Corp. can be found under the Company's profile on SEDAR+ at www.sedarplus.ca/.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320219

Source: Zefiro Methane Corp.