Mr. Kwesi Marshall reports

BASE CARBON ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Cboe Canada has accepted Base Carbon Inc.'s renewed normal course issuer bid (NCIB) to purchase, for cancellation, up to 6,264,560 of Base Carbon's common shares.

The company will renew its NCIB program for the fourth consecutive year beginning on June 23, 2026, as the company's current normal course issuer bid will end on June 22, 2026. Under the current NCIB, as of June 16, 2026, the company had purchased 4,009,330 shares at a weighted average price of 63.15 cents, representing 60.2 per cent of 6,659,310 shares authorized for purchase and cancellation under the current NCIB program. In total, since beginning of its strategy of repurchasing shares, the company has repurchased 27,507,089 shares at an average price of 38.58 cents, which represents a reduction of 21.5 per cent of shares outstanding since June 17, 2022.

Pursuant to the renewed NCIB, Base Carbon may purchase, over a period of 12 months beginning on June 23, 2026, and ending June 22, 2027, up to 6,264,560 shares, representing approximately 6.2 per cent of the 100,843,488 issued and outstanding shares and 10 per cent of the company's public float as of June 16, 2026. On any given day during the new NCIB program, Base Carbon may purchase up to 35,594 shares, which is equivalent to 25 per cent of the average daily trading volume of 142,374 for the previous six months, which excludes purchases made under the current NCIB. Block trades for a greater number of shares may be made once per calendar week.

Purchases under the NCIB may commence as of June 23, 2026, and will end on the earlier of: (i) June 22, 2027; or (ii) the date on which Base Carbon has purchased the maximum number of shares which may be acquired under the NCIB. The purchases made will be done in accordance with the rules of Cboe Canada, through the facilities of Cboe Canada or through alternative Canadian trading systems. The actual number of shares that will be purchased and the timing and price of such purchases will be determined by the company in accordance with Cboe Canada's listing manual and guidelines. Shares purchased under the NCIB will be returned to treasury for cancellation.

The board of directors of the company believes that the market price of the shares may, from time to time, not reflect the underlying value of Base Carbon, including its growth opportunities and that the proposed purchasing of its shares through the NCIB is in the best interests of the company and represents an appropriate use of corporate funds.

The company has also entered into an automatic share purchase plan (ASPP) with a broker in order to facilitate repurchases of shares pursuant to the NCIB. During the effective period of Base Carbon's ASPP, Base Carbon's broker may purchase shares at times when the company would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by the company's broker based upon parameters set by the company when it is not in possession of any material non-public information about itself and its securities and in accordance with the terms of the ASPP. Outside of the effective period of the ASPP, shares may continue to be purchased pursuant to Base Carbon's discretion, subject to applicable law. The ASPP has been entered into in accordance with the requirements of applicable Canadian securities laws.

About Base Carbon Inc.

Base Carbon provides capital, development expertise and management operating resources to projects involved in the global carbon markets. Base Carbon endeavours to be the preferred carbon project partner in providing capital and management resources to carbon removal and reduction 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.