North BAY Debt Settlement Update

Suite 615 - 800 West Pender Street, Vancouver, BC V6C 2V6

Telephone: 604.669.3143 Fax: 604.669.3107

Email: [email protected] Web: www.earthworksinc.com

TSX-V: EWK

OTCQB: EAATF

News Release

January 22, 2026

NORTH BAY DEBT SETTLEMENT UPDATE

Earthworks Industries Inc. (the “Company”) in a News Release dated November 20, 2025,

disclosed that North Bay Corporation (North Bay) had agreed that it would accept shares of the

Company equal to 10% of the then issued shares in full settlement of the debt then owing to it

by the Company and its subsidiary, Cortina Integrated Waste Management Inc.

It has now been settled that the debt was a U.S. dollar amount which has been converted to CDN

$5,112,564. It has also been calculated that to give North Bay 10% of the issued shares of the

Company, the number of shares to be issued is 13,146,057 at a deemed price of $0.39 per share.

The Company has applied to the TSX Venture Exchange to accept the Agreement to issue the said

number of shares to cancel the North Bay debt.

For further information, contact:

Earthworks Industries Inc.

David Atkinson

President/CEO

604-669-3143

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Vent ure

Exchange) accepts responsibility for the adequacy or accuracy of this News Release.