October 15, 2026 – Toronto, Ontario – Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. (“**BCCPC**”, together, with affiliates, “**Base Carbon**”, or the “**Company**”), is pleased to announce that carbon credit registry Verra has completed the fifth issuance of carbon credits from the Company’s Rwanda cookstoves project (the “**Project**”).

## Highlights:

- **Fifth Issuance Completed**: Issuance of an additional 387,015 carbon credits under the Project’s VM0050 cookstove methodology was completed by Verra, covering the Project’s fifth monitoring period (“**MP5**”). The MP5 carbon credits are held by the Company’s Rwanda project partner, the DelAgua Group (“**DelAgua**”), pursuant to the Project agreement and revenue sharing arrangement.

- **BTR Inclusion Anticipated**: The MP5 carbon credits are anticipated to be included in the Government of Rwanda’s 2026 Biennial Transparency Report (“**BTR**”) over the coming months. Carbon credits included in a government’s BTR are not expected to require insurance coverage as a prerequisite to the CORSIA – First Phase, 2024-2026 Eligible (“**CORSIA-eligible**”) tagging from Verra, thereby eliminating any associated insurance costs.

- **Successive CORSIA-eligible Issuances**: Upon tagging of MP5, an aggregate of 2,346,827 CORSIA-eligible carbon credits will have been issued from the Project since inception, all pursuant to the revenue sharing arrangement between the Company and DelAgua.

The 387,015 additional carbon credits were generated from a seven-month MP5 monitoring period, compared with the twelve-month monitoring period for the Project’s fourth issuance completed in March 2026. As set out above, the MP5 carbon credits are expected to be included in the Government of Rwanda’s 2026 BTR, a mechanism under the Paris Agreement’s Enhanced Transparency Framework which reports corresponding adjustments applied to authorized carbon credits. Consistent with previous issuances, carbon credits included in a BTR are expected to be tagged as CORSIA-eligible without requiring insurance, avoiding associated costs and increasing net proceeds attributable to the Company upon sale.

Going forward, the Project is anticipated to generate approximately 2.2 million additional carbon credits on regular 6-month intervals during the remainder of the Project’s crediting period. All future carbon credit issuances are anticipated to be tagged CORSIA-eligible, and the Company is actively engaged in multiple carbon credit sale processes and remains focused on value maximization.

### About Base Carbon

Base Carbon provides capital, development expertise and management operating resources to projects involved in the global carbon markets. We endeavor 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. For more information, please visit [www.basecarbon.com](https://basecarbon.com/).

### Media and Investor Inquiries

Base Carbon Inc. 
Investor Relations 
Tel: +1 647 952 3979 
E-mail: investorrelations@basecarbon.com

Media Inquiries 
E-mail: media@basecarbon.com 

### _Cautionary Statement Regarding Forward Looking Information_

_This press release contains “forward-looking information” within the meaning of applicable securities laws
relating to the focus of Base Carbon’s business, the expected issuance and timing of carbon credits, the
future application of Article 6 of the Paris Agreement, including the BTR mechanism and the expected
inclusion of carbon credits in the Government of Rwanda’s BTR, the Article 6 Authorized label, the CORSIAeligible
label and market reaction thereto, the expected tagging of CORSIA-eligible carbon credits by Verra
without the need for insurance, the outcome of current carbon credit sale processes and the ability to
monetize or sell carbon credits and the receipt of proceeds from the disposition of carbon credits or revenue
sharing arrangements, the implementation of the CORSIA framework and timing of eligibility and
participation of carbon credits and carbon credit methodologies thereunder, and the market demand and
price of CORSIA-eligible carbon credits. In some cases, but not necessarily in all cases, forward-looking
information may be identified by the use of forward-looking terminology such as “expects”, “anticipates”,
“intends”, “contemplates”, “believes”, “projects”, “plans”, “seeks” or variations of such words and similar
expressions or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will
be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or
other characterizations of future events or circumstances contain forward-looking information.
Statements containing forward-looking information are not historical facts but instead represent
management’s expectations, estimates and projections regarding future events. These statements should
not be read as guarantees of future performance, results, or achievements._

_Although management believes that the anticipated future results, performance or achievements
expressed or implied by the forward-looking information are based upon reasonable assumptions and
expectations, readers should not place undue reliance on forward-looking information because it involves
assumptions, known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements to differ materially from anticipated future results, performance or
achievements expressed or implied by such forward-looking information._

_In respect of the Rwanda cookstoves project, certain factors that influence the commercial success of such
project, including the timing and number of expected carbon credits, include among other things: (i) the
Company has retained industry leading experts/consultants/advisors to assist with the evaluation,
planning, negotiation and execution of such project, (ii) the work product, including monitoring reports, of
each project’s validation and verification body, (iii) project carbon credit market prices, (iv) the verification
of ongoing project monitoring reports and issuance of carbon credits by Verra, (v) changes to laws,
regulation or policies in applicable jurisdictions, and (vi) the timing and content of the Government of
Rwanda’s reporting under the Paris Agreement, including its BTR._

_In respect of the Rwanda cookstoves project, certain assumptions that influence the commercial success
of such project, including the timing and number of expected carbon credits, include among other things:
(i) distributed cookstoves perform to specification when used and participating households use the devices
as contemplated by project estimates, (ii) the Company’s in-country project partners perform their
obligations in connection with the development and operation of the project, (iii) there is no further
changes in the project methodologies used by the applicable carbon credit registry or otherwise adopted
by project proponents which results in less carbon credits being issuable, (iv) positive market recognition
of the attributes linked to the Company’s carbon credits (such as project methodologies and changes
thereto) and acceptance of such carbon credits by emissions trading schemes or compliance programs
such as CORSIA, (v) continued participant involvement and public support, including that of applicable
governmental authorities, of the voluntary and compliance carbon markets, and (vi) the Government of
Rwanda includes the MP5 carbon credits in its 2026 BTR and Verra applies CORSIA-eligible tagging to such
carbon credits without the need for insurance._

_The forward-looking statements made herein are subject to a variety of risk factors and uncertainties,
many of which are beyond the Company’s control, which could cause actual events or results to differ
materially and adversely from those reflected in the forward-looking statements. Readers are cautioned
that forward-looking statements are not guarantees of future performance. Specific reference is made to
the management’s discussion and analysis for the Company’s quarter ended June 30, 2026 and the most
recent Annual Information Form on file with the Canadian provincial securities regulatory authorities (and
available on www.sedarplus.ca) for a more detailed discussion of some of the factors underlying forwardlooking
statements and the risks that may affect the Company’s ability to achieve the expectations set
forth in the forward-looking statements contained in this press release._

_Should one or more of the risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual events or results may vary materially and adversely from those described in the forwardlooking
information. The forward-looking information contained in this press release is provided as of the
date of this press release, and the Company expressly disclaims any obligation to update or alter
statements containing any forward-looking information, or the factors or assumptions underlying them,
whether as a result of new information, future events or otherwise, except as required by law._


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Base Carbon Announces Fifth Issuance of Carbon Credits from Rwanda Cookstoves Project

Published on October 15, 2026

Base Carbon Announces Fifth Issuance of Carbon Credits from Rwanda Cookstoves Project