DevvStream Corp and Fayafi Investment Holding Sign MoU to Explore Creation of “Fayafi x DevvStream Green Ventures” to Accelerate Global Sustainability Investments (Form 8-K)

DevvStream Corp and Fayafi Investment Holding Sign MoU to Explore Creation of "Fayafi x DevvStream Green Ventures" to Accelerate Global Sustainability Investments

Proposed capital-light joint venture aims to unlock high-impact decarbonization and energy transition opportunities

CALGARY, Alberta, May 7, 2025 - DevvStream Corp. (Nasdaq: DEVS) ("DevvStream" or the "Company"), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced that it has signed a Memorandum of Understanding ("MoU") with Fayafi Investment Holding ("Fayafi"), one of the UAE's most forward-thinking and diversified investment platforms. The agreement outlines the intent to launch Fayafi x DevvStream Green Ventures, a global joint venture designed to accelerate investment in decarbonization and climate infrastructure projects worldwide.

Fayafi x DevvStream Green Ventures is expected to combine DevvStream's operational and technical expertise with Fayafi's capital resources, institutional network, and ESG-focused investment strategy. The platform would focus on identifying, funding, and scaling a pipeline of environmental projects across high-growth regions. Firm agreements are expected in Q2 2025, with initial project deployments targeted for Q3/Q4 2025. The initial funding commitment is expected to be $100 million, with the potential to scale significantly based on project performance and capital deployment efficiency.

"Fayafi x DevvStream Green Ventures is envisioned as a purpose-built platform to meet the needs of climate and energy transition investment in a changing world," said Carl Stanton, Chairman of DevvStream. "Fayafi, as a strategic and financial partner, represents an ideal counterpart to help us scale quickly and responsibly, providing significant upside to DevvStream investors."

Bobby Campbell, the Chief ESG Investment Officer for Fayafi Investment Holding added, "This MoU marks an important step toward the future of climate finance. We believe in the potential of this partnership and are committed to continuing the dialogue with DevvStream."

The joint venture will be structured as an independent entity, with ownership expected to be allocated 80% to Fayafi and 20% to DevvStream, and economics shared on a pro-rata basis. This capital-light model enables DevvStream to expand its global presence in energy transition and environmental assets while unlocking recurring revenue streams from project management, consulting, and carbon monetization-with minimal upfront investment.

Fayafi will serve as the financial and strategic engine of the venture, leveraging its institutional relationships and global network to drive market access, regulatory approvals, and execution at scale. The MoU also grants DevvStream exclusivity during the feasibility phase and a first right of refusal on carbon-related opportunities, underscoring a shared commitment to long-term alignment and disciplined project selection.

As operational and technical lead, DevvStream would be responsible for identifying and evaluating high-impact sustainability projects, structuring and registering environmental assets under global standards, managing implementation, and overseeing the full lifecycle of carbon credit generation and monetization. Fayafi's role as financial sponsor and market enabler would complement DevvStream's execution, supporting efficient scaling into undercapitalized markets.

This proposed joint venture marks a pivotal step in DevvStream's strategic evolution, allowing the Company to expand its footprint, enhance monetization pathways, and deliver scalable climate impact through a collaborative global platform.

About DevvStream

Founded in 2021, DevvStream is a leading carbon management firm specializing in the development, investment, and sale of environmental assets, energy transition, and innovative carbon management solutions. The Company's mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health.

With a diverse approach to energy transition and carbon markets, DevvStream operates across three strategic domains: (1) an offset portfolio consisting of nature-based, tech-based, and carbon sequestration credits for immediate sale to corporations and governments seeking to offset their most difficult-to-reduce emissions; (2) project investment, acquisitions, and industry consolidation to extend the company's reach, allowing it to become a full end-to-end solutions provider; and (3) project development, where the company serves as project manager for eligible activities such as EV charging or renewable energy generation in exchange for a percentage of generated credits or I-RECs.

For more information, please visit www.devvstream.com.

About Fayafi Investment Holding

Fayafi Investment Holding Limited is a global investment platform headquartered in Dubai, UAE, with a diversified portfolio across sustainability, AI, defense, biotech, and real estate. As the first UAE-based company listed on the Vienna Stock Exchange and the issuer of a bankable certificate under the SIX Swiss Exchange, Fayafi is widely recognized for its innovative, long-term investment philosophy and commitment to ESG leadership.