Mr. Michael Costa reports

BASE CARBON ANNOUNCES FIRST CORSIA-ELIGIBLE TAGGED CREDITS AND SALES

Base Carbon Inc. with operations through its wholly owned subsidiary, Base Carbon Capital Partners Corp., has noted the Rwanda Cookstoves project has received full eligibility and tagging under the carbon offsetting and reduction scheme for international aviation. In addition, first sales of CORSIA-eligible tagged carbon credits from the project have been completed.

The project is amongst the first globally to receive Verra's CORSIA -- first-phase, 2024-2026 eligible designation, allowing for immediate sale and delivery into global aviation carbon offsetting markets. CORSIA is administered by the International Civil Aviation Organization, a specialized agency of the United Nations, and represents the aviation sector's commitment to carbon-neutral growth from year 2020 onward. The demand for phase 1 of CORSIA (applicable to years 2024 through 2026) is estimated to reach 146 million to 236 million credits, which represent a significant market opportunity and monetization pathway for high-quality carbon credits. To achieve formal CORSIA-eligibility tagging within the Verra registry, Base Carbon's Rwanda project partner, the DelAgua Group, had to complete a comprehensive series of technical requirements including migrating the project to the newest methodological standard, securing insurance coverage to address corresponding adjustment obligations and executing a formal deed agreement with Verra.

In anticipation of imminent CORSIA eligibility, over the past several weeks, 300,537 CORSIA-eligible credits have been contracted for sale from both company-held inventories and credits held by DelAgua, which are subject to a revenue-sharing arrangement with the company. These sales represent the company's first monetization of CORSIA-eligible carbon credits with financial settlement of these contracts anticipated over the coming weeks. In addition to the above, the company is currently engaged in several bona fide sales negotiations and RFPs, which continue to progress. Given the company's strong financial position, it intends to be both strategic and opportunistic with future monetization opportunities.

Immediately prior to the aforementioned sales, Base Carbon held 1,076,230 VM0050 Rwanda carbon credits in inventory, composed of 733,874 CORSIA-eligible carbon credits and 342,356 VM0050 carbon credits, which have been included in Rwanda's first biennial transparency report, as well as held an economic ownership subject to a revenue share arrangement with DelAgua on 243,973 CORSIA-eligible credits. The BTR is a mechanism under the Paris agreement's Enhanced Transparency Framework, and those credits are anticipated to meet CORSIA-eligibility tagging requirements in the short term without the need for insurance. Following the project's methodological update last fall, the company anticipates regular carbon credit issuances on a biannual basis going forward.

"CORSIA tagging is a key validation milestone of Base Carbon's strategy. We are grateful for DelAgua's partnership and expertise in achieving CORSIA eligibility. Their meticulous work on migration, insurance and compliance requirements has positioned the project and our inventory exceptionally well," said Michael Costa, chief executive officer of Base Carbon. "Demonstrating initial sales represents further confirmation of our business model, asset underwriting and portfolio positioning. With increasing demand from global airlines and limited current supply of eligible credits, our inventory and future issuances are well positioned to capture value through expanded monetization opportunities as the CORSIA market continues to mature."

About Base Carbon Inc.

Base Carbon is a financier of projects involved primarily in the global voluntary carbon markets. It endeavours to be the preferred carbon project partner in providing capital and management resources to carbon removal and abatement projects globally and, where appropriate, will utilize technologies within the evolving environmental industries to enhance efficiencies, commercial credibility and trading transparency.

We seek Safe Harbor.