Nodal Exchange and IncubEx Collaborate to Expand the Largest Suite of Environmental Futures and Options with New REC and California Compliance Offset Contracts

Nodal Exchange and IncubEx announced today the pending launch of two new renewable energy certificates (REC) futures related to the PJM REC markets and a new California Compliance Offset futures contract.

These first-of-their-kind contracts further expand the world's largest exchange-listed suite of environmental products on Nodal Exchange, which tops more than 100 environmental futures and options contracts. The new physically-delivered futures contracts are planned for launch on Nodal Exchange on Friday, May 26th, pending regulatory review, include:

• California Carbon Offset Zero (CCO-0) with Direct Environmental Benefits (DEBS) Futures: This contract delivers greenhouse gas reduction or avoidance emissions of air pollutants offsets with Direct Environmental Benefit ("DEBS") to the State of California issued by the California Air Resources Board via the California Compliance Instrument Tracking System Service (CITSS).
• Virginia Compliance Renewable Energy Certificate (REC) Futures: delivers RECs from the PJM Generation Attribute Tracking System (PJM GATS) based on the Renewable Energy requirements specified in Virginia's Renewable Portfolio Standard statute.
• PJM Quad-Qualified Renewable Energy Certificate Futures: delivers RECs issued by PJM GATS qualified across the Class 1/Tier1 requirements in each of the states of Pennsylvania, New Jersey, Maryland, and Virginia.

The new products are based on market feedback and complement contracts listed on California Carbon Allowances and Offsets. The Virginia and PJM Quad-Qualified contracts on Nodal expand the broadest set of PJM-related REC futures and options.

"These products further expand the comprehensive PJM REC suite and California compliance suite listed on Nodal Exchange," said Dan Scarbrough, President and COO of IncubEx. "PJM-related contracts represent the broadest product group and the largest amount of open interest among the environmental markets on Nodal. The California Carbon DEBs Offset contract is a first of its kind tool for entities managing risk and optimizing their compliance obligations in the California carbon market. We're pleased to work with Nodal on expanding the product offering."

"The product growth and recent records in volume and open interest across the environmental markets suite illustrate how Nodal is continuing to meet customer needs across the environmental, power and natural gas markets," said Paul Cusenza, CEO of Nodal Exchange. "We will continue to listen to customers to provide the products and services they want and need."

ABOUT NODAL

Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world's largest sets of electric power and environmental futures and options contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC. For more information, please visit www.nodalexchange.com.

ABOUT INCUBEX

IncubEx is an incubator for products, services and technology solutions in environmental markets with partners and stakeholders to design and develop new financial markets, technologies and trading solutions in global environmental, climate risk, and related commodity markets. The company collaborates with the European Energy Exchange (EEX) and its U.S. subsidiary, Nodal Exchange on environmental products and operates The Voluntary Climate Marketplace (TVCM). The IncubEx team is led by former key executives from Climate Exchange, which pioneered exchange-listed environmental futures and options contracts and CCX, the world's first and only voluntary, but legally binding greenhouse gas emission reduction and trading program. IncubEx, a privately held company founded in 2016 with offices in Chicago and London, is uniquely positioned to capture these opportunities globally with its partners. For more information, please visit https://theincubex.com/.