© 2015 CO2 Solutions Inc. All Rights Reserved.

Management

Presentation

October 2015

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Forward-looking Statements

All statements in this presentation that are other than statements of historical facts are forward-lookingstatements which contain our current expectations about our future results. Forward-looking statementsinvolve numerous risks and uncertainties. We have attempted to identify any forward-looking statements byusing words such as “anticipates”, “believes”, “could”, “expects”, “intends”, “may”, “should” and othersimilar expressions.

Although we believe that the expectations reflected in all of our forward-looking statements are reasonable,we can give no assurance that such expectations will prove to be correct. A number of factors may affect ourfuture results and may cause those results to differ materially from those indicated in any forward-lookingstatements made by us or on our behalf. Such factors include our early stage of technology development; ourneed for capital to finance necessary research and product development; our ability to attract and retain keyemployees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the tradingprice and volume of our stock; competition from other providers of similar products and services; and otherunanticipated future events and conditions. For further information concerning risks and uncertainties thatmay affect our future results, please review the disclosures as may be contained from time to time in our filingswith SEDAR. Other than as required by applicable securities laws, we undertake no obligation to publiclyupdate or revise any of our forward-looking statements, whether as a result of changed circumstances, newinformation, future events, or for any other reason occurring after the date of this presentation. This

presentation does not constitute an offer to sell or solicitation of an offer to buy securities in any jurisdiction.

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• Leader in the field of enzyme-based CO2 capture

• $50 million invested to date

• 22 employees, including 7 PhDs

• 48 issued and 40pending patents

• Entering commercial phase

• Publicly traded on TSX Venture Exchange (Symbol: CST)

About CO2 Solutions Inc.

CO2 - it has a nasty reputation…

…The most significant contributor to disruptive climate change

But it`s not all bad

An essential commodity for many industrial processes

Greenhouses

Water Treatment

Pulp and Paper Food and

Beverage

Enhanced Oil

Recovery

Building MaterialsAlgal

Biofuels

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We Address the Good and the Bad

Climate Change Mitigation

Capture and sequestration of CO2 from large emitters

• Power Stations

• Oil & Gas

• Cement and Metal Industries

CO2 for Commercial Reuse

Addressing CO2 supply opportunities driven by:

• Cost

• Availability

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Current solution is inefficient

• High costs• High operating costs due to steam-fed

regeneration requirement• $60-90/tonne of CO2 for flue gas application(1,2)

• Operational and environmental problems(3)

• Degradation and stability issues• Extensive flue gas pre-treatment required• Toxic aerosol emissions• Solvent losses• Generation of waste products

Sources:1) http://ccemc.ca/wp-content/uploads/2012/12/C101033-HTC-DEV-JA-03-001-1-R1-+-FEED-REPORT-CCEMC.pdf, Page 19 (~$70/tonne cost)2) https://www.netl.doe.gov/File%20Library/Events/2014/2014%20NETL%20CO2%20Capture/A-Bhown-EPRI-CO2-Capture-RD-EPRI.pdf, Page 63) http://www.sciencedirect.com/science/article/pii/S1750583614001777

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The CO2 Solutions Technology

Industrial lung for carbon captureM I M I C K I N G N A T U R E U S I N G C A R B O N I C A N H Y D R A S E ( C A )

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WASTE HEAT

FOR

REGENERATION

ENERGY

CSI-Proprietary Carbonate Process

E n z y m eE n z y m ePROPRIETARY

ENZYME

PROPRIETARY

ENZYME

ScrubbedFlue Gas

Lean Solvent

Pure CO2 (>95%) forCompression, Storage and Reuse

Steam

CO2StripperColumn

CO2AbsorberColumn

Rich Solvent

Flue Gas with CO2

NO

AEROSOLS

LOW COST

SOLVENT30-50%

COST

30-50%

COST

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• Solvent regeneration using heat outside of steam cycle• Low parasitic load; minimal boiler upgrade

• Environmentally benign solvent• No degradation products or aerosols• Ease of environmental and waste management

operations

• Larger net GHG reductions than amines• Benefit of using low-grade heat

• Low total cost of capture• Economics more favourable relative to

Enhanced Oil Recovery opportunities• In line with carbon pricing• 10 years ahead of U.S. DoE cost target

Overall Benefits of CSI Technology

THE OPPORTUNITY

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CO2 produced suitable for commercial use

• 99.5% CO2 purity achieved (dry basis) by independent lab verification with only O2

and N2 remaining to be removed

• Meets requirements for food and beverage use (ISBT)1 without expensive downstream purification

• Exceeds Enhanced Oil Recovery (EOR) and other reuse application purity requirements

• Eliminates typical additional cost of post-capture purification

1http://www.bevtech.org/

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Carbon ReuseNon-regulated driven applications

CO2 GAS USE (an essential input for many industrial processes)

ENHANCED OIL RECOVERY

Mineral carbonation Greenhouses

Waste treatment Bio-plastics Beverages

Building materials

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Commercial Opportunities (active discussions)

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CO2 for industrial

re-use

CO2 for industrial

re-use

GreenhousesGreenhouses

Carbonated

beverages

Carbonated

beveragesAlgae for

biofuel

Algae for

biofuel

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Sources of CO2

Major opportunity for CCS if/when:

a) CCS cost lower than carbon pricing

b) Solution is environmentally friendly

Source: International Energy Agency (IEA) GHG Program, 2011

Stationary Sources

49%

Transportation23%

Residential8%

Other small sources

20%

Sources of CO2 Emissions

Stationary Sources Transportation Residential Other small sources

Stationary sources of CO2 with emissions > 100,000 tpa

Sector Number of sites CO2 emissions (Mtpa)

Power generation 5,148 11,612

Cement 1,256 1,049

Oil & Gas industry 768 873

Metals production 469 699

Other 588 432

Total 8,229 14,665

GOING FORWARD

Strategy

Three-tier strategy

• De-risking• Continued Innovation• Commercialization

1http://www.bevtech.org/

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EERC Testing Program

~1 tonne per day

• Premier CO2 capture testing facility in North America supported by U.S. Department of Energy

• Comprehensive testing completed January 2015

• Results show $39/ ton cost of capture,

beating DoE cost targets by 10 years

De-risking – technology scale-up

Demonstration project~10 tonnes per day

• Successfully operated 1,200 hours

• Has fully validating technical premise

• Full report including costing to be published following independent 3rd party review

• Supported by $5.5M government funding

• Final step in pre-commercial scale-up

Positions CO2 Solutions’ technology for commercial deployment

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10 tonne/day demonstration

• Located near Montreal

• CO2 capture from flue gases of natural gas fired boiler (~8.5% CO2 content)

• Uses Company’s proprietary enzyme, 1T1

• Capture operations began June, 2015

• > 1,200 operating hours to date

• Stripping uses hot water (80-85ᵒC), not high-cost steam as currently technologies require

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Environmental performance & operation

• No solvent degradation observed

• No solvent makeup required

• No waste products generated

• Current operation with day shift only• To support R&D activities• Normal operation does not require full-

time operators; estimation is 0.25 FT operator, even at large capacity

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Fine tuning

• Optimize configuration to validate engineering improvements

• Testing of solvent additive for improved performance in both absorption and stripping

• Additional stress testing

• Measurement of contaminants absorption kinetics

• Total work will bring operations to ~2,500 hours

• Detailed energy balance and techno-economics being developed from operational data expected to confirm the lowest capture cost for solvent-based capture technology

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• Exclusive collaboration with GasTran Systems (GTS) of Cleveland (OH) - leader in RPB technology

• Process intensification in action

• Shears solvent into extremely fine droplets

• Mass transfer is orders of magnitude than higher packed column

• Enables maximum performance from enzyme

• RPB is proven commercially in other gas-liquid applications at scale• Beverage deaeration• Chemical production

• RPB never used for CO2 capture previously because of slower kinetics of conventional amine solvents

Next: Rotating Packed Bed (RPB)

RPBs in Use at Dow Chemical Replacing Large Packed Tower

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RPB vs. Packed Column

90% CO2 Capture from Natural Gas-Fired Boiler Flue Gases; 300 tonnes/day CO2 captured

Target CO2 capture cost <$30/tonne incl. compression

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Path to scale-up

Tonnes per

day

1 10 1 10 30 300

Equipment Packed column Packed column RPB Packed Column RPB RPB

Location EERC (ND) Valleyfield (QC) EERC (ND) To be announced St-Félicien (QC) Western Canada

Project budget and/or CAPEX

n/a Project = $8.9M, of which CAPEX =

$3.0M

$640K $3M $7.4M $30M

Partners EERC Husky EnergyStatoilCCP3

EERC To be announced Resolute ForestProducts + Serres

Toundra

TBD

GovernmentSupport

DOE (via EERC) NR Can ($4.7M) CCEMC (Alberta)

($0.5M)

DOE (via EERC) / Pending from NR

Can

In discussions with EDC

Pending fromSDTC (Canada)

and Québec government

Pending fromCCEMC and

Québec government

Operating Schedule

Dec ‘14 – Jan ‘15 May – Oct ‘15 Q1 ‘16 Q3 ‘16 CommissioningQ2 ’17

CommissioningQ1 ’18

Status Completed. Results

announced.

Completed on Oct 27. Final

report in November.

Project launched. In negotiationswith prospective

commercialpartner.

In discussions for Québec

governmentsupport (grant

and debt)

In discussionswith prospective partners (mostlyCanadian O&G)

Commercial Project

No No No Yes Yes Yes

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Business Models

� Low-cost provider of CO2� Finance/build/operate CO2 plant on emissions site� Sell captured CO2 via take-or-pay agreement� Discussions on-going with potential collaborators

� Low-cost provider of CO2� Finance/build/operate CO2 plant on emissions site� Sell captured CO2 via take-or-pay agreement� Discussions on-going with potential collaborators

� Technology license� Provide engineering design and customer support� In exchange for:

- License- Royalties – one-time and/or per CO2 captured- Enzyme supply agreement

� Technology license� Provide engineering design and customer support� In exchange for:

- License- Royalties – one-time and/or per CO2 captured- Enzyme supply agreement

KEY DATA

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CST (TSX-V)

Stock Price (09-18-2015) $0.185

52-Week Low/High $0.07 - $0.31

Ave Daily Volume (3 mo.) ≈500,000

Shares Outstanding 127,611,353

Fully Diluted Shares 140,000,000

Insider Holdings (est) 40%

Market Cap $23,600,000

Capital invested $50,000,000

Revenues Pre-Revenue

Cash & Equivalents $2,426,433

Gov’t. Receivables $732,322

Tax credits receivable $599,824

Total Assets $5,181,000

Total Liabilities & Debt $2,171,000

Total Equity (net) $3,010,000

Financial Statement Information in $CAD as of June30, 2015

Marked increase in stock

value and liquidity over

past 12 months

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Robust Patent Portfolio

49 ISSUEDBROAD PATENT PORTFOLIO FOR USE OF CARBONIC ANHYDRASE IN CANADA, U.S., EU, CHINA, AUSTRALIA AND OTHER MARKETS

40 PENDING*

vs. 13 and 19 respectively in 2008

*as at June 30, 2015

Areas of Carbonic

AnhydraseCO2 Capture Application

SOLVENTSAminesCarbonatesAmino AcidsCombinations

PROCESSESPacked Tower

Spray ScrubberBubble Column

Universal

INDUSTRIAL SECTORSPowerSteam‘Drop-in’ Applications

ENZYME UTILIZATIONSoluble

Particle-BasedAnalogs

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Management TeamEvan PricePresident & CEO• 30 years management leadership including in advanced technology• Was CEO of Domosys Corp., a power line communication provider whose technology was acquired

by Analog Devices in 2009• Was Chairman of CO2 Solutions from 2008 to 2013

Louis Fradette, Ph.D. CTO• 20 years industry/academia

experience including oil refining, bitumen sands treatment, and ore processing

• Professor of Chemical Engineering, École Polytechnique de Montréal

Jonathan A. CarleyVP Business Dev.• 15 years business development in

startups, notably in biofuels

Sylvie Fradette, Ph.D. VP R&D• One of key architects of technology

since 1997

Thom Skinner CPA, CASVP Finance and CFO• 30 years experience in financial services,

pharmaceutical, life sciences and biotech sectors including mergers and acquisition and capital raising

• Professor of Finance, Laval University, Quebec, QC

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Board of Directors

Glenn R. Kelly

Chairman of the Board� Former President & CEO of the Corporation� Recognized leader and energy industry executive� Currently President and CEO of Orbite Aluminae, a

Canadian cleantech company in alumina extraction technologies.

Jocelyn Proteau � Former Chairman of the Board and Chief

Executive of the Fédération des Caisses populaires Desjardins de Montréal-et-de-l’Ouest-du-Québec.

� Chairman of the Board of BTB Investment Trust�Director of CO2 Solution since 2007

Evan Price

President & CEO, CO2 Solutions� Former Chairman of the Board, CO2

Solutions from 2008 to 2013

Robert Manherz � Principal, Dundurn Capital

Partners Inc.� Director of CO2 Solution

since 2008.

Kimberley Okell � Lawyer, DS Welch Bussières� Director of CO2 Solution

since 2001