Oxygenated [Oxygenated: Containing oxygen. In the lungs carbon dioxide is removed from the blood and oxygen taken up by the haemoglobin in the red blood cells.] Carbon dioxide [Carbon dioxide: Waste product of aerobic exercise that is breathed out through the lungs.]
in other words Hemoglobin in the blood carries oxygen from the respiratory organs (lungs or gills) to the rest of the body (i.e. the tissues). There it releases the oxygen to permit aerobic respiration to provide energy to power the functions of the organism in the process called metabolism.