Endnotes 1. Remedy period: a remedy period is a specific time frame given to a supplier or project developer to correct or resolve a breach of contract or failure to meet agreed terms before the buyer has the right to terminate the contract or take other legal action. In carbon removal offtake agreements, remedy periods often apply if the supplier fails to deliver the agreed amount of carbon removal within the specified schedule. For example, if a DAC facility fails to deliver carbon removal on time, the remedy period allows the supplier a certain number of months to resolve the issue, such as ramping up production or adjusting timelines, without immediately triggering contract termination. The length of the remedy period often depends on the pathway’s technology maturity, project risk and buyer’s flexibility. 2. Chen, T., et al. (2024, January 11). 2023 investment landscape in carbon renewal. CDR.fyi. https://www.cdr.fyi/blog/2023- investment-landscape-in-carbon-removal 3. Scope 3 emissions are indirect greenhouse gas emissions from a company’s value chain, as distinct from the company’s direct emissions (Scope 1) and those arising from energy purchased by the company (Scope 2). 4. The Section 45Q tax credit provides US federal incentives for carbon capture and storage, offering up to $85 per tonne of CO2 for point-source capture and up to $180 per tonne for DAC, with amounts subject to inflation adjustment from 2027. Originally established under the Inflation Reduction Act (2022), the credit was preserved and expanded under the One Big Beautiful Bill Act (July 2025), which introduced parity across all qualifying end uses of captured CO2. The 45Q credit remains the primary federal policy mechanism driving CCS investment in the US. 5. ClimeFi is a partner for CDR buyers in building and managing their CDR portfolios. 6. MRV readiness: MRV readiness is a project’s capability to measure, report and verify (MRV) carbon removal accurately, ensuring transparency and reliability for stakeholders. High MRV readiness means the project has the systems and certifications to confirm actual CO2 removal, supporting credible carbon credits or claims. 7. Open-system environment: CO2, water and minerals interact in soils and the atmosphere, not in a sealed or controlled container. Weathering products (such as bicarbonates and carbonates) can move away – for example, dissolve in groundwater or rivers, eventually reaching the ocean. Many external factors (rainfall, soil microbes, temperature, farming practices) influence the reactions, and these factors cannot be fully controlled. 8. Puro.earth is a carbon marketplace and registry specializing in engineered carbon removal credits, providing methodology development and third-party verification for CDR projects. https://puro.earth/; Isometric is an independent carbon registry focused on rigorous, science-based verification of carbon removal, emphasizing transparency through full public disclosure of project data. https://isometric.com/ 9. Net carbon efficiency: a ratio of the volume of carbon removed to the carbon footprint of the technology. Data ranges collected by ClimeFi based on current and expected life-cycle emissions for the period 2024–2030. 10. The International Carbon Reduction and Offset Alliance (ICROA) is a global industry body that accredits carbon offsetting and reduction programmes against its code of best practice, providing a recognized quality standard for carbon credit certification. https://icroa.org/ 11. The Inflation Reduction Act (IRA), signed into law in the US in August 2022, is the largest climate investment in US history. It provides long-term financial incentives for clean energy and carbon capture technologies, including an expansion of the Section 45Q tax credit to up to $180 per tonne of CO2 captured via DAC and $85 per tonne for point-source capture with geological storage. For CDR project developers, the IRA significantly reduces capital risk by providing revenue certainty over the project life cycle. The IRA’s carbon capture provisions were subsequently preserved and expanded under the One Big Beautiful Bill Act (July 2025). 12. 2030 cost projections based on supplier projections within ClimeFi’s platform. 13. ClimeFi. (2025, January). 2024 CDR market: A year in review. https://climefi.com/2025/01/climefi-release-2024-cdr- market-a-year-in-review/ 14. The EU BioCCS (Biogenic Carbon Capture and Storage) certification methodology was adopted by the European Commission on 3 February 2026 under the Carbon Removals and Carbon Farming (CRCF) Regulation (EU) 2024/3012 – the first EU-wide voluntary framework for certifying permanent carbon removals. The methodology sets legally grounded rules for what counts as a tonne of BioCCS removal, how permanence must be ensured and how risks such as leakage and liability are addressed. It covers BECCS and other biomass-based carbon capture and storage processes. 15. Currently MRV is very expensive. ERW start-ups spend much of their raised equity on: soil and water sampling programmes; isotopic tracing methods; modelling tools to estimate CO2 mineralization rates. This MRV work is essential for credibility, as buyers of carbon credits will not pay without proof of durable removals. As ERW matures, MRV costs will represent a smaller share of total expenses, because standardized protocols will be developed, automation and remote sampling can replace sampling and the pathway becomes more cost-competitive. 16. The European Green Deal is the European Commission’s overarching strategy for achieving climate neutrality by 2050. Key instruments of direct relevance to BECCS include: the EU Innovation Fund, which finances large-scale carbon removal projects through carbon contracts for difference (CCfDs); the Carbon Removals and Carbon Farming (CRCF) Regulation (EU) 2024/3012, which established the first EU-wide voluntary certification framework for permanent carbon removals including BioCCS; and the EU Emissions Trading System (EU ETS), which creates carbon price incentives relevant to BECCS project economics. Carbon Dioxide Removal Technologies: Market Overview and Offtake 31

Carbon Dioxide Removal Technologies 2026