An anonymous director reports

BASE CARBON REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS

Base Carbon Inc. has released its third quarter 2023 consolidated financial results. All financial references are denominated in United States dollars, unless otherwise noted.

Company highlights for the three and nine months ended Sept. 30, 2023:

• In Q3 2023, the company executed an agreement with Value Network Ventures Advisory Services Pte. Ltd. (VNV), through wholly owned subsidiary Base Carbon Capital Partners Corp., to facilitate the development of a nature-based carbon removal project, focused on the reforestation of degraded rural farmlands in the northern Indian state of Uttar Pradesh (the India ARR project).
• Deployed initial $3.6-million in India ARR project capital toward the planting of approximately 6.5 million trees.
• Vietnam project capital deployment is now 92 per cent complete with contractual, milestone-based payments of $200,000 deployed during Q3 2023.
• Incurred a $1.7-million net loss in Q3 2023, representing one-cent loss per share.
• Purchased 4,476,920 common shares for cancellation pursuant to the company's normal course issuer bid program (NCIB) during the nine months ended Sept. 30, 2023. The current NCIB program began on June 21, 2023, allowing Base Carbon to purchase up to an additional 7,974,471 common shares during the 12 months following renewal.

Third quarter investor update call

The company invites current and prospective shareholders to attend an investor update call on Wednesday, Nov. 15, 2023, at 11 a.m. Eastern Time (EST). Management will provide a business update and respond to investor questions via Zoom webinar.

Date:  Wednesday, Nov. 15, 2023

Time:  11 a.m. ET

Questions:  please submit questions ahead of time to investorrelations@basecarbon.com

About Base Carbon Inc.

Base Carbon is a financier of projects involved primarily in the global voluntary carbon markets. The company 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.