Base Carbon's Rwanda project to receive carbon credits

Mr. Michael Costa reports BASE CARBON TO RECEIVE CARBON CREDITS UNDER CORSIA APPROVED VM0050 METHODOLOGY The carbon credit registry Verra has approved the application of the Carbon Offsetting and Reduction Scheme for International Aviation-compliant methodology VM0050 to Base Carbon Inc.'s Rwanda cookstoves project. As previously disclosed, the DelAgua Group, project developer for the Rwanda cookstoves project, has been working to transition the project to Verra's latest methodological standard, being VM0050, Energy Efficiency and Fuel-Switch Measures in cookstoves, v1.0. The Rwanda cookstoves project is one of the first projects to have completed this process and was recently highlighted in a video publication released by Verra. Verra's VM0050 methodology will be applied to requantify previously issued carbon credits held in inventory by the company, as well as future carbon credits issued from the Rwanda cookstoves project. Carbon credits issued under VM0050 currently satisfy the standards for use under the Carbon Offsetting and Reduction Scheme for International Aviation. Following requantification, the company expects to hold a revised inventory balance of approximately 1.0 million to 1.2 million Corsia-aligned carbon credits. These carbon credits are expected to be eligible for delivery into Corsia, as well as other Article 6 compliance markets once Verra has finalized its corresponding adjustment insurance requirements, which is anticipated in the near term. The company believes that this milestone will transition Base Carbon's inventory into a premium, compliance-grade carbon credit balance, which is expected to command materially higher values in a market defined by scarcity and accelerating demand. Corsia requires international airlines to offset growth in aviation emissions above 85 per cent of 2019 levels, creating immediate compliance demand for Corsia-eligible carbon credits. Independent forecasts estimate that CORSIA phase 1 (covering years 2024 to 2026) carbon credit market pricing could rise to between $26 (U.S.) and $63 (U.S.) per tonne, underscoring the inherent structural shortfall that exists in today's marketplace. "The transition of the Rwanda cookstoves project to the latest VM0050 methodology marks a watershed moment and a further proof of concept for Base Carbon's business strategy," said Michael Costa, chief executive officer of Base Carbon. "Corsia is a powerful catalyst for value creation: both our inventory and our ongoing portfolio of carbon credit generation are strategically positioned to supply credits to global airlines as they face rapidly escalating compliance obligations and a scarcity of eligible carbon reduction credits. This requantification significantly increases the value of our inventories and portfolio for our shareholders through increased pathways to monetization, near-term compliance-based demand and the associated expected premium pricing." Investor town hall The management team will provide a business update and respond to investor questions through a Zoom webinar. Registration instructions are published below. The company invites current and prospective shareholders to attend this business update call and question-and-answer session. Date:  Tuesday, Sept. 30, 2025 Time:  11 a.m. EDT Location:  Zoom webinar; to receive the meeting link and passcode, please register Questions:  Please submit questions ahead of time to [email protected]. 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.