Bqe Water Inc · TSXV:BQE
Bqe Water — Investor Presentation (December 2025)
22 slides from Bqe Water's investor presentation, December 2025
Slide 1: BQE Water Investor Presentation 3rd Quarter 2025
= BQE Water Investor Presentation 3rd Quarter 2025
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT Certain information contained herein may not be based on historical fact and therefore constitutes "forward-looking information" under applicable Canadian securities legislation. This includes without limitation statements containing the words "plan", "expect", "project", "
Slide 3: Who Are We
WHO ARE WE BQE Water is using its portfolio of unique IP to grow recurring revenue from clean water production in the Mining and Metallurgical sectors enabling regulatory compliance, social acceptability, and sustainability in the resource sector.
Slide 4: BQE Water by Numbers
treatment plants designed and built globally tons of valuable metals recovered annually technologies commercialized since 2003 1,000+ tons of sodium cyanide recycled annually & BGE Water 20M m% of wastewater treated annually of projects waste residue eliminated or reduced
Slide 5: Expertise & Unique IP
EXPERTISE & UNIQUE IP What makes us unique Project Diversification across IP Portfolio Cyanide CYANIDE SELENIUM destruction SART Selen-IX (Open Source) & DETOX SULPHAT Cyanide OUR METALS BioSulphide® & E recycling TECH ChemSulphide® Sulf-IX
Slide 6: Water in Mining
WATER IN MINING GOVERNMENT REGULATIONS 90% of Mineral Processing Uses Water heap leach failure at Eagle Mine Secure water supply needed Water recycle to reduce costs No water = no operations Permitting & Regulatory Compliance Decision making becoming Stricter limits, new contaminants increasingly Ba
Slide 7: Business Model Leading to Entrenched Solutions
IDENTIFYING SOLUTIONS TRUSTED ADVISOR BUSINESS MODEL LEADING TECHNICAL SERVICES TO ENTRENCHED SOLUTIONS TECHNICAL OPERATIONS INNOVATION DEVELOPING IMPLEMENTING NEW SOLUTIONS SOLUTIONS
Slide 8: Business Model Addressing All Market Segments
BUSINESS MODEL ADDRESSING ALL MARKET SEGMENTS MINES IN ACTIVE CLOSED / LEGACY DEVELOPMENT MINES MINES TIMEFRAME Permitting to Production Operating Life C losure Time Horizons 5 to 10 years Base metals: 20 years 20+ years Precious metals: 10 years Successful ~ 5 years Unsuccessful ~ perpetuity CLIENT
Slide 9: Typical Project Revenues
TYPICAL PROJECT REVENUES $31M PER PROJECT* OVER 30 YRS *with contract renewals 60% DEV/PERMIT OPERATION CLOSURE of our current projects are sole sourced ~4M ~25M ~3M Over 7 years Over 15 years Over 5 years
Slide 10: Clients & Footprint
CLIENTS & ESTABLISHED PRESENCE IN KEY MARKETS WORLDWIDE FOOTPRINT Glencore Kinross Gold Agnico Eagle C odelco C enterra Gold US Power Jiangxi C opper Torex Gold Utility BQE Water offices and Freeport- South32 Trafigura commercial operations McMoRan C oeur C ameco US EPA Anglo Orano American ESTABLIS
Slide 11: Industry Recognition in Recent Years
INDUSTRY RECOGNITION IN RECENT YEARS Recognized Among Fastest David Kratochvil Growing BC Companies Honored with the Prestigious Clean50 The only water treatment company to grace the list of the Award for Clean Technology province's fastest-growing enterprises by BIV. Winner of both MetSoc Double Vi
Slide 12: Revenue
REVENUE RECURRING REVENUES WHATMAKESUS PROFITABLE Q4 2025 USA Mine 67% NON-RECURRING REVENUE IS LEADING TO FUTURE SelenIX Operation Support RECURRING REVENUE Q3 2025 •Technical services required prior to arriving at water treatment plant MWT SART Operation Support operations Q3 2023 (Shandong Gold)
Slide 13: Year Trend
REVENUE 5 YEAR x6 x2 x4 x7 TREND RECURRING REVENUE TECHNICAL SERVICES REVENUE MARKET CAP WORKING CAPITAL
Slide 14: Performance Overview
PERFORMANCE OVERVIEW PROFITABILITY AND MARGIN TRENDS •General & Administrative Expenses (G&A) •G&A Supporting Revenue Generation Grows Much Slower than Revenue. •The company has reached the stage in its growth where further increases G&A will be very small.
Slide 15: Growth on the Past 5 Years
GROWTH ON THE PAST 5 YEARS Compound Growth CAGR (5 Years) Proportional Revenue (Total) 13% Recurring Revenue (Operations) 42% Adjusted EBITDA 16% Net Income 33%
Slide 16: Catalysts for Step Change in Valuation
CATALYSTS FOR STEP CHANGE IN VALUATION Why invest in BQE Water 1 Growing project pipeline 2 Consolidation in water and environmental services companies within the mining sector 3 Protection of value in an uncertain economic environment
Slide 17: Anticipated Consolidation in Mine Water Sector Catalyst
ANTICIPATED CONSOLIDATION IN MINE WATER SECTOR CATALYST MARKET CAP SMALL < $50 M LARGE > $10B GIANT WATER COMPANIES SUEZ- VEOLIA- $14B XYLEM- EVOQUA- $23B SOURCE OF GAP ·Large players in water are focused on the municipal sector, which is a much larger market than mining. PRIVATE SMALL SPECIALIZED ·
Slide 18: Protection of Value Basis
PROTECTION OF VALUE BASIS • Proven commercial strategy • Unique disruptive technologies proven on industrial scale • 33% of revenue is recurring linked to clean water production unimpacted by economic cycles • In-house capabilities to continue slow and steady growth • Business aligned with 21st cent
Slide 19: Recent M&A – Aquatic Toxicology Services
Recent M&A – Aquatic Toxicology Services • All mine water discharges must be non -toxic • M&A enables BQE Water to guarantee non-toxic effluent – the first and only company to offer such guarantee • M&A provides new entry points into mining projects in early development stages and in operations
Slide 20: Risks Elimination
RISKS ELIMINATION INVESTMENTHIGHLIGHTS •Management? - implemented new strategy and customer buy in – done •Technology? - Proven - commercially and at industrial scale - done •Ability of team to execute - 30 plants built worldwide, with new and established technologies – done •Customer Retention - be
Slide 21: Leadership
LEADERSHIP Peter Gleeson David Kratochvil PhD, PEng Heman Wong CPA, CGA Oscar López Executive Chairman President & CEO CFO GM, Latin America 30+ years in executive 20+ years in wastewater treatment 10+ years in private/public practice 20+ years in chemical and management and board advisory and chemi
Slide 22: Contact
CONTACT BQEWATER.COM PGLEESON@BQEWATER.COM