Base Carbon, Inc. · NEO:BCBN
Base Carbon — Investor Presentation (September 2026)
23 slides from Base Carbon's investor presentation, September 2026
Slide 1: Sensible Carbon Investing: Investor Presentation
SENSIBLE CARBON INVESTING Investor Presentation September 2026 CBOE CA:BCBN | OTCQX: BCBNF w w w. b a s e c a r b o n . c o m - 1 -
Slide 2: Forward-Looking Statements Disclaimer
Forward-Looking Statements Disclaimer This presentation contains “forward-looking information” within the meaning of applicable securities laws relating to the focus of Base Carbon's business, the expected issuance and timing of carbon credits, the future application of EU ETS proposal, Article 6 of
Slide 3: Key Investment Highlights
Key Investment Highlights The success of Base Carbon is underpinned by its diligent approach to project underwriting, successful project delivery, and trades at a significant discount to intrinsic value High-Integrity All ~0.9 MM carbon credits1 held in inventory are now CORSIA-Eligible2. Our Projec
Slide 4: Capital Structure
Capital Structure Significant Insider Ownership Reflecting Management Cboe CA:BCBN | OTCQX:BCBNF US$ US$/share C$ C$/share Conviction and Alignment with Shareholders5 Other Insiders Market Capitalization1 52.9 MM 0.52 73.2 MM 0.72 1% Management, Directors Abaxx Enterprise Value1 50.6 MM 70.0 MM & Fo
Slide 5: Our Leadership Team
Our Leadership Team Base Carbon’s leadership combines 80+ years and US$15+ billion of portfolio management expertise as well as Independent 30+ years of dedicated carbon experience Directors Michael Costa Chief Executive Officer, Founder & Director • Michael charts the company’s business model, orga
Slide 6: 2026 Company Milestones
2026 Company Milestones A disciplined, conviction-led approach focused on delivering shareholder value and long-term accretive growth Q1 Q2 CORSIA-Eligible Designation 200K+ CORSIA-Eligible Carbon ~640K VM0050 Carbon Credits BeZero BBB rating Received Received Credits Sold Issued1 on the Rwanda Cook
Slide 7: Our Revenue Model
Our Revenue Model Underpinned by our rigorous evaluation framework, Base Carbon is focused on quality projects generating high-integrity carbon credits Who We Are Capital Allocators Project Originators Risk Managers Base Carbon allocates capital directly into carbon and We leverage our global networ
Slide 8: Carbon Markets: Structure, Signals and Opportunity
Carbon Markets: Structure, Signals and Opportunity - 8 -
Slide 9: Carbon Markets Bridge the Emissions Gap
Carbon Markets Bridge the Emissions Gap The Paris Agreement commits nations to limiting global warming to 1.5ºC above pre-industrial levels, yet national policies in force today fall well short of this and pledged national targets still don't close the distance Global Emissions Projections Carbon Ma
Slide 10: What is a Carbon Credit?
What is a Carbon Credit? A carbon credit is a verified, tradable unit representing one tonne of CO2 reduced or removed, certified by independent third parties under rigorous standards Project Validation and Monitoring and REVENUE Verification Issuance Scoping Registration Reporting As of August 14,
Slide 11: Tightening Supply, Strong Demand Growth
Tightening Supply, Strong Demand Growth The carbon market’s structural shortfall of high-quality, durable carbon credits creates a compelling opportunity for project financiers, positioning Base Carbon to deliver long-term risk-adjusted returns Carbon credit market supply needs to increase ~5x to 25
Slide 12: Project Portfolio: Strategic Execution Through High Integrity Projects
Project Portfolio: Strategic Execution Through High Integrity Projects - 12 -
Slide 13: Backed by Quality, Built for Scale
Backed by Quality, Built for Scale Commercially proven projects delivering attractive risk-adjusted returns with strong alignment to evolving market dynamics Rwanda Cookstoves Vietnam Household Devices India ARR4 Project Partner A subsidiary of the DelAgua Group SIPCO, a subsidiary of Intraco Value
Slide 14: Rwanda Cookstoves
Rwanda Cookstoves Among the first global suppliers into aviation’s mandatory offsetting framework with ~US$3.2 MM received from the sale of CORSIA-Eligible carbon credits Project Profile Tubeho Neza: One of the Largest Cookstove Programs in the World3 Project Partner Project Status DelAgua Issuing |
Slide 15: Rwanda Cookstoves
Rwanda Cookstoves Base Carbon has experienced increased demand for its Rwanda carbon credits following recent developments in the compliance carbon market, including the European Union's proposed extension of CORSIA implementation through 20351 Q2-2026 Project Highlights 639,609 US$3.2 MM US$14.1 MM
Slide 16: Vietnam Household Devices
Vietnam Household Devices The Vietnam Household Devices project has delivered consistent credit issuances and strong cash returns, with over US$36 MM repaid to Base Carbon to date, demonstrating efficient execution, robust underwriting and effective structuring Project Profile 7.4 MM ~US$36.3 MM ~$U
Slide 17: Vietnam Household Devices
Vietnam Household Devices According to the Vietnam Energy and Environment Consultancy, Cookstove projects rank among the most investment-ready opportunities under Vietnam’s new Article 6 framework1 Project Overview As at June 30, 2026, SIPCO had delivered an aggregate total of 7.4 million carbon cre
Slide 18: India Afforestation, Reforestation, Revegetation (ARR)
India Afforestation, Reforestation, Revegetation (ARR) Full planting completion within 14 months of execution, with work currently underway for validation and verification to transition the Project to new Verra methodology, VM0047, along with application of the ABACUS label Project Profile Project P
Slide 19: India Afforestation, Reforestation, Revegetation (ARR)
India Afforestation, Reforestation, Revegetation (ARR) Maintenance field activities continue as the project advances validation, monitoring and reporting workstreams ahead of its first issuance expected in 2027 Project Expansion Opportunities Q2-2026 Updates Contractual Right of first refusal relati
Slide 20: Appendix
Appendix - 20 -
Slide 21: CORSIA Overview
CORSIA Overview CORSIA is the UN aviation body's (ICAO) scheme requiring airlines to offset international CO2 emissions above 85% of 2019 levels by retiring Eligible Emissions Units (EEU). CORSIA will be moving to its mandatory compliance phase on January 1, 2027. CORSIA1 is route-based — only fligh
Slide 22: CORSIA CP1 Supply and Demand
CORSIA CP1 Supply and Demand CORSIA CP1 is supported by a constructive supply-demand setup: demand is anchored by compliance obligations, while eligible supply remains structurally constrained Supply vs. Demand1 Two-Sided Read on the Fundamentals 186 - Sylvera1 Supply Structurally Scarce Current Sup
Slide 23: Contact
50 Carroll Street, Toronto, ON www.basecarbon.com investorrelations@basecarbon.com +1 (647) 264-5305 - 23 -