CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

1. Australasia’s leading carbon offset project developer CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

2. Business model • Carbon Conscious – Australasia’s leading developer of carbon forestry projects for Australian companies to offset their carbon emissions • Provides the most attractive solution for major emitters at well under $23/tonne commencement price • Contractually plants native trees on poor agricultural land for bio sequestration • Strong track record having secured major transactions with Origin Energy & BP. CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

3. Strong growth # Targeted Planted Hectares * Planting Underway CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

4. Size of Australian Carbon Market Demand346 Mt PA by 2020 CCF Supply 4 Mt PA Other Forestry 11 Mt PA CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

5. Earnings guidance • #Projections assume additional contracts are executed at or about the approximate pricing levels of existing contracts. Costs, fees and other expenses related to the business remain within budget expectations. • ^Based on fully diluted shares + fully exercised options. CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

6. Increased certainty • Clean Energy Act 2011 (Carbon Tax) and Carbon Farming Initiative (CFI) are now law • Origin has exercised its 2012 planting options. $163 M remaining in options. • 10,000 hectares of planting in 2012 planting season (5x increase on 2011) • New Zealand plantings continuing CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

7. Industry leading • 2009 • Executed both major CPRS carbon forest sink trades (Origin Energy & BP Singapore) • 2010 • Australia’s first international carbon trade(Carbon Conscious Ltd – Perenia) • Executed Australia’s first & only senior debt facility for carbon forestry with CBA • 2011 • Executed Australia’s first carbon trade post the Clean Energy Act (Origin Energy) • First major carbon forest sink transaction in • NZ with a major Australasian energy company • . Carbon Conscious continues to lead the industry CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

8. Value proposition • $20 M – NPV of 15 year fee revenue • $21 M – NPV of 15-30 carbon • Value of NZ timber or 20+carbon is significant • Free option on Mallee biomass CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

9. Understanding the opportunity • Profitable company in new andemerging industry • Unprecedented deal size potential ($2 billion) to substantiate forecasts • Demand seriously outstrips supply • CCF is ideally positioned – substantial growth opportunities • Secure revenue worth $43M over the next 15 years • Significant re-rating is coming CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

10. Carbon Conscious at a glance Major Shareholders Broadacre Asset Mgt 12 % Stoney Pastoral Co 7 % Yall Super 3 % Top 50 Holds 73 % Top 100 Holds 84 % ASX Code CCF Issued Capital FPO Shares 79.3 M Unlisted Options 9.6 M Market Cap $13 M Share price (@ 28/5/12) $0.16 Tightly held stock CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012

11. Our expertise • Management Team: • Peter Balsarini • Executive Director, Chief Executive Officer • Stephen Bodeker • Chief Financial Officer • Daniel Stevens • Director, Business Development • David Groom • General Manager, Operations • Jeff Douglas • Land Manager • Ric Collins • Director, Carbon Estates • Board of Directors: • Stephen Lowe • Executive Chairman • Trevor Stoney • Non Executive Director • Kent Hunter • Non Executive Director • Andrew McBain • Non Executive Director CARBON CONSCIOUS LTD (CCF) : COMPANY UPDATE, MAY 2012