Base Carbon Inc. announced the results of its Annual General Meeting held on June 25, 2026. A total of 51,205,311 common shares, representing 50.777% of the issued and outstanding common shares, were represented at the meeting. Shareholders voted to elect six directors to the company's board for the ensuing year and appointed BDO Canada LLP as the auditor.

Director Election Results

The following table details the votes for each director nominee:

Auditor Appointment

Shareholders approved the appointment of BDO Canada LLP as the company's auditor for the ensuing year and authorized the directors to fix their remuneration. The voting results for the auditor appointment were as follows:

Base Carbon provides capital, development expertise, and management operating resources to projects involved in the global carbon markets.

Base Carbon Inc. has renewed its normal course issuer bid (NCIB) to repurchase up to 6,264,560 common shares, representing approximately 6.2% of its issued and outstanding shares. The program will commence on June 23, 2026, and conclude on June 22, 2027, subject to earlier completion if the maximum number of shares is purchased. The Board of Directors believes the market price of the shares may not reflect the company's underlying value, including its growth opportunities, and that the repurchase is in the best interests of the company.

Under the renewed NCIB, Base Carbon may purchase up to 35,594 shares daily, equivalent to 25% of the average daily trading volume of 142,374 shares over the previous six months, excluding purchases under the current NCIB. Block trades for a greater number of shares may be executed once per calendar week. Purchases will be conducted in accordance with Cboe Canada's rules and guidelines, either through its facilities or alternative Canadian trading systems.

The company has also entered into an automatic share purchase plan (ASPP) with a broker to facilitate repurchases during periods when Base Carbon is not active in the market due to insider trading rules or internal blackout periods. The ASPP complies with applicable Canadian securities laws and allows purchases based on parameters set by the company when it is not in possession of material non-public information.

Since initiating its share repurchase strategy on June 17, 2022, Base Carbon has repurchased 27,507,089 shares at an average price of $0.3858, reducing its outstanding shares by 21.5%. Under the current NCIB, which ends on June 22, 2026, the company purchased 4,009,330 shares at a weighted average price of $0.6315, representing 60.2% of the 6,659,310 shares authorized for purchase.

Repurchase Program Details

Shares purchased under the NCIB will be returned to treasury for cancellation. The actual number, timing, and price of purchases will be determined by the company in accordance with Cboe Canada's Listing Manual and guidelines.