Announcement PDF ASX RELEASE 27 MARCH 2025 Carbonxt (CG1) Managing Director Warren Murphy at the Ignite Investment Summit, 26-27 March 2025 Hong Kong United States focused Cleantech company Carbonxt Group Ltd (ASX:CG1) (Carbonxt or the Company) is pleased to announce that our Managing Director, Warren Murphy, will be presenting at the Ignite Investment Summit in Hong Kong on Thursday, March 27 at 12:00 PM HK time. Warren will showcase Carbonxt’s cuttingedge carbon solutions, highlighting how the Company is driving sustainability and delivering value through advanced technology and eco-friendly innovation. Carbonxt Group Limited is excited to be part of the Ignite Summit, a premier event that brings together innovative companies, investors, and industry leaders from across the globe. - ENDS Enquiries Warren Murphy Managing Director | Carbonxt Limited P +61 413 841 216 E w.murphy@carbonxt.com About Carbonxt Carbonxt (ASX:CG1) is a cleantech company that develops, and markets specialised Activated Carbon products, focused on the capture of contaminants in industrial processes that emit substantial amounts of harmful pollutants. The Company produces and manufactures Powdered Activated Carbon and Activated Carbon pellets for use in industrial air purification, wastewater treatment and other liquid and gas phase markets. Carbonxt Group Limited | Level 8, 210 George Street, Sydney NSW 2000 ASX: CG1 | E info@cglimited.com.au | P +61(0) 413 841 216 CARBONXT.COM Advanced Activated Carbon Products Pioneering a Greener Planet with CuttingEdge Clean Tech Ignite Investment Summit Hong Kong ASX:CG1 March 2025 Disclaimer This presentation has been prepared by Carbonxt Group Limited ACN 097 247 464 (“Carbonxt”). Summary information This Presentation prepared by Carbonxt, contains summary information about Carbonxt and its associated entities and their activities current as at the date of this presentation. The information in this presentation is of a general background nature and does not purport to include or summarise all information that an investor should consider when making an investment decision. It should be read in conjunction with Carbonxt’s other announcements lodged with the Australian Securities Exchange which are available on www.asx.com.au. Information about Carbonxt’s activities are current as at the date of this presentation. Not investment advice or a recommendation The information contained in the presentation has been prepared without investment and the investment objectives, financial situation or particular needs of any particular person. Nothing in the presentation constitutes as investment or financial product advice, nor is it a recommendation to acquire any entitlements or securities in Carbonxt. It is not intended to be used as the basis for making a financial decision, nor is it intended to constitute legal, tax, accounting or other advice. Any references to or explanations of legislation, regulatory issues, benefits or any other legal commentary (if any) are indicative only, do not summarise all relevant issues and are not intended to be a full explanation of a particular matter. Recipients of this presentation should make their own enquiries and investigations regarding any investment, and should seek their own professional advice on the legal, financial accounting, taxation and other consequences of investing in Carbonxt. Carbonxt is not licensed to provide investment or financial product advice in respect of Carbonxt’s shares. Investment risk An investment in Carbonxt’s securities is subject to known and unknown risks, some of which are beyond the control of Carbonxt, including, possible loss of income and principal invested. Carbonxt does not guarantee any particular rate of return or the performance of Carbonxt, nor does it guarantee any particular tax treatment. Investors should have regard to the risk factors outlined in this presentation when making their investment decision. Investors should have regard to (amongst other things) the risk factors outlined in this presentation when making their investment decision. See the “Key Risks” section of this presentation for certain risk relating to an investment in Carbonxt’s securities. Past Performance Past performance information contained in the presentation is given for illustration purposes only and should not be relied upon as (and is not) an indication of future performance. Actual results could differ materially from those referred to in the presentation. 2 Company Overview Carbonxt (ASX:CG1) is a cleantech company specialising in Activated Carbon solutions to capture industrial pollutants. It produces Powdered, Pelletized and Granular Activated Carbon for industrial air purification, wastewater treatment, and other liquid and gas phase markets. The Company has three production facilities in the United States and is focused on servicing US markets. Water Treatment Removes disinfection byproducts and PFAS in groundwater and drinking water filtration. Air and Gas Purification Industrial Pollution Control Removes odors, oil vapors, and other hydrocarbons from air and gas streams. Removes toxic pollutants from air and water in various industrial processes. . Mercury Capture Used in emissions control from coal-fired power stations to capture mercury. Environmental Consulting Used in environmental and consulting applications for pollution control and remediation. Carbonxt provides cost-effective solutions that enable industry partners to meet compliance goals 3 Carbonxt at a Glance Carbonxt is working to address the need for clean air and water with sustainable solutions that protect homes, communities and the environment. Advanced solutions for industrial, water, and air pollutant removal Unique, engineered activated carbon with pioneering technology Three production facilities, with one being commissioned Cutting-edge research driving innovation Environmental laws increasing product demand Strategic partnership expanding production and product range Entry into the growing watertreatment market for PFAS removal 4 Expanding and Scaling for Growth & Impact Arden Hills Pelletization Plant – Minnesota Pelletized wood and lignite carbons for use in mercury removal and tolling arrangements (NAQ-ACP, CTC-ACP) • Kentucky plant mechanically completed: Now being commissioned to meet growing market demand • PAC segment strong: Increased adoption in key industrial markets Inez Power AC Plant Kentucky Agglomerated bituminous coalbased GAC and pelletized AC Black Birch Powdered Carbon Plant - Georgia Wood-based powdered activated carbon (MatsPAC, AquaPAC and CEMPAC) Source map: Vecteezy.com • Revenue growth ahead: Kentucky plant completion provides a clear path • Margin expansion: Costreduction initiatives to improve profitability • Long-term success: Rising demand driven by tightening environmental regulations 5 What is Activated Carbon? Activated Carbon is a porous material that removes contaminants from air and liquids through adsorption. Made from sources like wood chips and coal, it is used for: • Water filtration for clean drinking water • Air and gas purification to eliminate odours and pollutants Powdered Activated Carbon • Mercury removal in coal power plants Growing Demand and Market Expansion • Rising demand driven by regulations and environmental awareness Pelletized Activated Carbon • Three forms: Powdered, Pelletized, Granular • Carbonxt to produce all three by 2025, expanding market reach Granular Activated Carbon 6 Addressable Market Carbonxt is well positioned • Market Opportunity: Carbonxt targets a US market worth $903M1 with its air and liquid phase specialisations. • Kentucky Facility Expansion: The new facility enables entry into the larger water treatment market. • PFAS Treatment: Granular activated carbon is the most used PFAS treatment and is recommended by the EPA. • Regulatory Impact: New EPA regulations will significantly increase demand for PFAS solutions, with utilities having five US$bn Current USA Market plus annual cost to remove PFSA from drinking & waste water 3.5 3 2.5 2 1.5 1 0.5 0 Current market Air & Liquid Phase EPA Low EPA High AWWA Low AWWA High 1Source: American Water Works Assoc./Black and Veatch years to comply. • Compliance Costs: EPA estimates annual costs for water utilities to comply range from $772M to $1.2B1, with industry estimates suggesting even higher costs. Large, fast-growing addressable markets - water and air purification markets valued at $10B1 Current product set addresses a $1B market segment1 but projected to more than triple over the next 5 years 7 Carbonxt Key Differentiators Carbonxt’s low carbon footprint and its R&D technical team are a competitive advantage, enabling the Company to produce high-quality activated carbon products at lower costs. Lowest CO2 footprint amongst its US-based competitors – use of own emissions as a power source Non-Bromine Activated Carbon Bespoke Engineered Solutions Market-Leading R&D Capabilities Superior Product Quality US Market Protection Sustainable Sourcing: Sustainable byproducts used to create highquality activated carbons. Patented air-phase products do not contain bromine, avoiding corrosive damage to plant and equipment. Custom-designed activated carbon solutions tailored to specific customer needs. Continuous innovation in production techniques reduces capital and operating costs. Recognised for premium performance, attracting a growing customer base. High tariffs on imports limit competition from overseas suppliers. Collaboration with Reworld Waste used Carbonxt’s renewable resource to achieve a more sustainable solution for the customer. Produces low-cost, highquality activated carbon products. Will Produce a premiumgrade GAC, setting a new standard in the North American market. Favors domestic producers like Carbonxt, ensuring market stability. Innovative Research: Renewable materials explored to develop advanced environmental solutions. Performs on par with bromine-based competitors while mitigating corrosion risks. Kentucky Plant establishes Carbonxt as a leader in the liquid-phase activated carbon market. The only US-based industrial supplier of industrial activated carbon pellets. 8 Expanding Production to Meet Growing Demand Our Expansion Plans (tons per annum) Current & New Current vs Expansion (tons per annum) 10,000 Nearly 200% growth in capacity from Current 10,000 13,500 10,000 7,500 6,000 Black Birch Arden Hills Current KCP FY25 Inez 43,500 Production Kentucky (Inez) 10,000 Production Georgia (Arden Hills) 10,000 6,000 Production Minnesota (Black Birch) Expansions would require US$8m approx of capex Headquarters Gainesville, FL Separate geographical locations to mitigate potential weather-related interruptions Multiple sources of raw material at each location Expansion Duplicated production between locations 9 Successful Mechanical Completion of Kentucky Plant The Kentucky business was established to produce a premium product and facilitate entry into the liquid-phase market, which is 2x the size of the air-phase market. Key Achievements Next Steps • Mechanical completion achieved; commissioning to full operations underway. • Advanced kiln design with temperature controls and exhaust gas recycling. • Increased ownership in NewCarbon Processing, LLC to 40% after $1.25M investment. • Commissioning phase active, targeting full-quality production over next two months. • Product samples from production to support long-term offtake deals. • Initial outputs to be sold on the spot market or integrated into Carbonxt’s product lines. Strategic Market Impact • Well-positioned for growing activated carbon demand amid PFAS regulations. • Water-phase market is twice the size of the air-phase market, unlocking growth. • Rising prices and constrained supply create favorable market conditions. Industry Leadership • Kentucky Plant strengthens Carbonxt’s liquid-phase activated carbon position. • High customer interest with multiple sales negotiations in progress. • Premium-grade GAC production, setting a new North American standard. 10 Kentucky – A premium product Leveraging top-tier raw materials, early product testing validates our offering as a market leader. The data below highlights our superior performance, outshining key competitors across multiple markets. Taste & Odor - Geosmin Removal 99% 92% Forever Chemical - PFOA Removal 88% 91% 69% 54% Inez AC Lignite Coal AC Bituminous Coal AC Inez AC Lignite Coal AC Bituminous Coal AC Carbonxt Competitor B Competitor A Carbonxt Competitor B Competitor A  Taste and odor removal represents a substantial market within the water treatment industry.  Inez carbon boasts an ideal surface chemistry and structure, tailored for effective removal performance.  This empowers Carbonxt to excel in performance-based bids, driving higher sales prices and market success.  Inez carbon outperforms leading industry competitors in PFOA removal, setting a new standard for efficacy.  Achieves an impressive 99% PFOA removal rate in water treatment applications, ensuring exceptional water quality.  Coal-based materials demonstrate superior performance against both short- and long-chain PFAS compared to alternative raw materials. 11 Activated Carbon: Pricing $4.50 Public Bid Results: Municipal Water Treatment Granular AC Pricing (US$ per lb) Average Price GAC Bids (US$ per lb) All Bids Lowest Bids $3.00 $4.00 $2.57 $2.50 Pirce per pound of GAC Price Per Pound for GAC $3.50 Granular Activated Carbon Pricing • The charts display GAC pricing data from publicly available pricing tenders. $3.00 $2.50 $2.00 $1.50 $2.34 $2.06 $2.00 $1.86 $1.85 • Carbonxt is in discussion with a significant number of potential customers for supplying product at prices in line with the financial modelling used to make the investment decision for the new Kentucky facility. $1.55 $1.50 $1.00 $1.00 R² = 0.2476 • Carbonxt expects to realise comparable pricing for Granular and Pellets produced at the Kentucky facility. $0.50 $0.50 $- $0.00 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 2019 2020 2021 2022 2023 2024 12 Carbonxt: A high-growth opportunity in Cleantech solutions Kentucky Plant Commissioning: Immediate focus on full-scale operational launch, new coal processing plant nearing completion and finalising high-temperature heating circuits. Kentucky Plant strengthens Carbonxt’s liquid-phase activated carbon offering. Revenue Growth: Kentucky plant provides a clear path to revenue growth given that the water-phase market is twice the size of the air-phase market. Margin Expansion: Continued improvements in gross margins (1H25 gross margin at 49%, up from 44% in 1H24) driven by price increases and ongoing cost-reduction initiatives, including at Black Birch. Market Expansion: PAC segment continues to show strong performance, reflecting increased adoption in key industrial markets. Regulatory Tailwinds: Targeting waste-to-energy and water purification markets, driven by mercury and Federal and State PFAS regulations. Innovation & Partnerships: Ongoing product development and strategic collaborations to support long-term sustainability and profitability. Black Birch Powdered Activated Carbon Facility 13 Carbonxt’s modest valuation presents an attractive investment opportunity Carbonxt stands out as a nimble, small-scale contender in a market dominated by large, diversified corporations and supported by mid-sized specialists. Its modest valuation offers a compelling opportunity for investors seeking exposure to a rapidly expanding cleantech innovator with significant growth potential. >$1b $8.5b $40.2b Evoqua Water Technologies (Xylem) Calgon Carbon Corporation (Kuraray) Jacobi Carbon (part of Osaka Gas) $150m Arq, Inc. Norit Activated Carbon Carbonxt Group Limited $300m $21.9m *The data provided represents estimated market capitalisation as of February 2025 (AUD). The graphs shown are not to scale and may not reflect accurate proportions. Notes on Market Cap Estimates: Evoqua (Xylem): Reflects Xylem’s total market cap (NYSE: XYL), as Evoqua’s value isn’t isolated. Calgon Carbon (Kuraray): Kuraray’s total cap (TYO: 3405); Calgon is a significant but not standalone component. Jacobi Carbon (Osaka Gas): (TYO:9532 - AUD 13.7bn Feb 2025; Jacobi Carbon – est by Carbonxt. Norit: Estimated for a private firm based on its scale and historical revenue (US$200M pre-2022 split). Arq: (NASDAQ: ARQ), based on ~US$94.6M from March 2025 data, adjusted from late 2024. 14 Appendices Stricter PFAS Drinking Water Standards Provide Opportunities Ensuring Safe Drinking Water Through Stricter PFAS Limits: Announced in April 2024, contamination in the U.S. (November 20, 2024): Drinking Water Above Proposed Limit requiring monitoring by 2027 andPFAS compliance by 2029. • National Primary Drinking Water Regulations (NPDWR) for PFAS: EPA finalised first-ever NPDWR on April 10, 2024, under the Biden Administration. • Regulatory Steps: New rules set water limits (including PFOA and PFOS at 4.0 parts per trillion (ppt)), classify PFAS as hazardous, restrict purchases, and fund research. • Compliance Timeline: April 2024 standards require monitoring by 2027, full compliance by 2029. • Expanded Oversight: EPA tightened reporting, closed loopholes, and states are enforcing bans and cleanup rules. • An opportunity for Carbonxt: Stricter environmental regulations are expected to drive demand for our advanced activated carbon products. PFAS contamination in the U.S. (November 20, 2024): Drinking Water (Above Proposed Limit) Source: Mapping the PFAS contamination crisis: New data show 8,865 sites with PFAS in 50 states, the District of Columbia and four territories 16 April 2024 NPDWR remains intact for now Trump Administration has not officially changed or updated the National Primary Drinking Water Regulations (NPDWR) for PFAS announced by the EPA in April 2024. • However, there are indications that the current administration may seek to modify these standards. • In December 2024, allies of President Trump began criticising the EPA's PFAS regulations, labeling them as overly stringent and financially burdensome for water utilities. Senator Shelley Moore Capito, poised to chair the Senate environmental committee, argued that the strengthened PFAS limits are based on flawed science and impose excessive costs on water utilities.1 • In January 2025, the Trump Administration’s EPA withdrew a proposed rule from the Biden Administration that aimed to set discharge limits on PFAS for the chemical manufacturing sector. The decision halts what would have been a critical step in addressing industrial PFAS pollution in the water supply.2 • In March 2025, water companies on Long Island, supported by chemical and manufacturing industries, filed a federal lawsuit challenging the EPA's PFAS standards. They contend that the EPA did not adhere to proper procedures in establishing these regulations and that compliance costs are prohibitively high.3 • The withdrawal of a separate discharge rule and regulatory freeze signal a potential intent to revisit environmental policies, but for now the drinking water MCLs and five-year timeline remain legally enforceable. • Despite the rapid pace of policy shifts within the first 50 days of Trump’s term, the NPDWR’s complexity and public health implications may slow any formal revisions. • Nonetheless, investors should monitor EPA announcements and congressional actions for future developments. 1 Trump allies begin attack on EPA and rules protecting US drinking water. 2 Trump EPA withdrawal of PFAS effluent limits is setback for public health, EWG warns. 3 Long Island water companies sue to rollback EPA standards on toxic ‘forever chemicals’ 17 States have instigated their own PFAS Rules Patchwork of regulations shapes Carbonxt’s market, with stricter states offering immediate opportunities. States with enforceable MCLs likely drive higher demand for Carbonxt’s activated carbon products due to immediate compliance needs, while advisory states may see gradual adoption as MCLs develop. Policies for Addressing PFAS: 34 states have introduced 198 policies to protect people from toxic chemicals. 154 state policies have been adopted in 30 states. Source: Policies for Addressing PFAS State Drinking Water Limits: Eleven states have standards such as Maximum Contaminant Levels (MCLs) for certain PFAS in drinking water. 18 States with Adopted PFAS Rules: Top 20 Population Analysis Top 20 States by Population and PFAS Rules State States have introduced and adopted their own PFAS rules, often in response to local contamination concerns or to preempt federal regulations like the EPA’s April 2024 National Primary Drinking Water Regulations (NPDWR), which set MCLs at 4 ppt for PFOA and PFOS. • Adoption Rate: 9 of the top 20 states (45%) have adopted PFAS rules: • Enforceable MCLs: New York (10 ppt PFOA/PFOS), Pennsylvania (14 ppt PFOA, 18 ppt PFOS), Michigan (8 ppt PFOA, 16 ppt PFOS, etc.), New Jersey (14 ppt PFOA, 13 ppt PFOS, 13 ppt PFNA), Massachusetts (20 ppt for 6 PFAS), Wisconsin (70 ppt combined). • Non-Enforceable/Advisory: California (notification levels, PHGs), Illinois (health advisories), Washington (action levels). • Non-Adopters: 11 states, including Texas, Florida, Ohio, and Georgia, rely on federal MCLs (4 ppt PFOA/PFOS by 2029), potentially due to lower PFAS contamination or political priorities. • Population Impact: Large States with rules represent ~131 million people (38% of the U.S. population), with California and New York alone accounting for ~59 million. PFAS Rules Adopted Specific Details 2 Texas 31.3 Yes: Notification Levels, PHGs No 3 Florida 23.4 No Follows federal NPDWR 4 New York 19.8 Yes: MCLs PFOA 10 ppt, PFOS 10 ppt (enforceable) 5 Pennsylvania 13.0 Yes: MCLs PFOA 14 ppt, PFOS 18 ppt (enforceable) 6 Illinois 12.6 Yes: Health Advisories PFOA 2 ppt, PFOS 14 ppt, others (non-enforceable) 1 • Pop (mm) (2025) California 39.1 PFOA NL: 5.1 ppt, PFOS NL: 6.5 ppt; PHGs: PFOA 0.007 ppt, PFOS 1 ppt (non-enforceable) Follows federal NPDWR 7 Ohio 11.8 No Follows federal NPDWR 8 Georgia 11.1 No Follows federal NPDWR 9 North Carolina 11.0 No Follows federal NPDWR 10 Michigan 10.1 Yes: MCLs PFOA 8 ppt, PFOS 16 ppt, 5 others (enforceable) 11 New Jersey 9.4 Yes: MCLs PFOA 14 ppt, PFOS 13 ppt, PFNA 13 ppt (enforceable) 12 Virginia 8.9 No Follows federal NPDWR 13 Washington 8.0 Yes: Action Levels PFOA 10 ppt, PFOS 15 ppt, others (advisory, triggers action) 14 Arizona 7.6 No Follows federal NPDWR 15 Tennessee 7.2 No Follows federal NPDWR 7.1 Yes: MCL Sum of 6 PFAS at 20 ppt (enforceable) 16 Massachusetts 17 Indiana 6.9 No Follows federal NPDWR 18 Missouri 6.2 No Follows federal NPDWR 19 Maryland 6.2 No Follows federal NPDWR 20 Wisconsin 5.9 Yes: MCL PFOA + PFOS combined 70 pt (enforceable) Methodology: Data is sourced from state environmental and health department websites, law firm analyses (e.g., BCLP), and regulatory summaries (e.g., ITRC, Safer States). Rules are considered "introduced and adopted" if proposed and finalised into enforceable or advisory regulations as of March 10, 2025. Population estimates are based on 2024 Census data adjusted for 2025 trends. 19 Advanced Activated Carbon Products Warren Murphy Managing Director +61 413 841 216 w.murphy@carbonxt.com