Bqe Water Inc · TSXV:BQE
Bqe Water — Investor Presentation (October 2026)
22 slides from Bqe Water's investor presentation, October 2026
Slide 1: Investor Presentation Q2 2026
Investor Presentation Q2 2026
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 growing a recurring revenue portfolio, using its unique IP, to deliver best-in-class solutions to the Mining and Metallurgical sectors, addressing regulatory compliance, social acceptability, and sustainability challenges in the resource sector.
Slide 4: BQE Water by Numbers
BGE WATER BY NUMBERS &) BGE Water
Slide 5: Expertise & Unique IP
EXPERTISE & UNIQUE IP What makes us unique Project Diversification across IP Portfolio CYANIDE SELENIUM SART Selen-IX (Open Source) & DETOX SART & Detox Selenium 33% 33% SULPHAT E OUR METALS BioSulphide® & Sulf-IX TECH ChemSulphide® Other 33%
Slide 6: Water in Mining
Decision making is becoming increasingly complex WATER IN MINING 90% of Mineral Processing Uses Water GOVERNMENT REGULATIONS Secure water supply needed heap leach failure Water recycle to reduce costs at Eagle Mine No water = no operations PRODUCTION Permitting & Regulatory Compliance NEEDS Water ac
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 Codelco Centerra Gold US Power Jiangxi Copper Torex Gold Utility BQE Water offices and Freeport- South32 Trafigura commercial operations McMoRan Coeur Cameco US EPA Anglo Orano American ESTABLISHED P
Slide 11: Recent Recognition
RECENT RECOGNITION David Kratochvil Recognized among fastest Honoured with the growing BC companies Prestigious Clean50 The only water treatment company to grace the list of the province's fastest- Award for Clean Technology growing enterprises by BIV. Winner of both MetSoc Innovation & Sustainabili
Slide 12: Revenue
REVENUE WHAT MAKES US PROFITABLE 67%NON-RECURRING REVENUE IS LEADING TO FUTURE RECURRING REVENUE • Technical services required prior to arriving at water treatment plant operations 33%OF RECURRING REVENUES IS LEADING TO IP MONETIZATION • Production of clean water compliant with permitted regulations
Slide 13: Revenue
REVENUE 25 40 20 Millions CAD 30 15 Millions CAD 20 10 10 5 0 0 2022 2023 2024 2025 H1 2026 2022 2023 2024 2025 H1 2026 Recurring Revenue (Operations) Proportional Revenue (Total) Working Capital
Slide 14: Performance Overview
PERFORMANCE OVERVIEW PROFITABILITY AND MARGIN TRENDS G&A TO GAAP REVENUE 45% 20% 40% 18% 35% 15% 30% 25% 10% 20% 15% 10% 5% 0% 5-year avg 3-year avg Current 7-year avg 5-year avg 3-year avg Current Adjusted EBITDA to GAAP Revenue Adjusted EBITDA to Proportional Revenue •General & Administrative Expe
Slide 15: Growth in the Past Years
GROWTH IN THE PAST 5 YEARS Compound Growth CAGR (5 Years) Working Capital 36% Net Income 25% Adjusted EBITDA 15% 5 YEAR x6 REC URRING x2 TEC HNIC AL x4 MARKET x7 WORKING TREND REVENUE SERVIC ES REVENUE C AP C APITAL
Slide 16: ROE vs ROIC
ROE VS ROIC 10% 8% 6% 1% 9% 8% 5% 11% 12% 16% 9% & BGE Water 28% 25% -5% 10% BLM XYL cwco wsP ™ 2025 ROE KEMIRA 2025 ROIC VIE STN BQE
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: M&A
M&A • Expanded Expertise: Integration of aquatic toxicology services with a new in-house lab (under development) and senior specialists joining the team. • Client Value: Faster, cost-effective solutions to mine water toxicity. • Unique Advantage: Ability to provide holistic clean water solutions and
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
Slide 21: Leadership
LEADERSHIP Peter Gleeson David Kratochvil PhD, PEng Heman Wong CPA, CGA H.C. Liang PhD, PChem Daniel Brosig PEng Executive Chairman President & CEO CFO VP, Technology and Solutions Exec VP, Projects & Services Delivery 30+ years in executive 20+ years in wastewater treatment 10+ years in private/pub
Slide 22: Contact
CONTACT BQEWATER.COM PGLEESON@BQEWATER.COM