Documents of record.
Not promises.

Documents on record.

1. 01
   Recorded VPP Covenant — Christopher Unit #1

   Loving County Instrument No. 2026-0017 · runs with the land in perpetuity · scope: deep rights below the base of Wolfcamp.
2. 02
   Recorded VPP Covenant — Abernathy Unit #1

   Recording pending in Loving County deed records · expected prior to first mint per Mint Checklist Gate 26 · scope: deep rights below the base of Wolfcamp.
3. 03
   UCC-1 Financing Statement

   Wyoming Secretary of State filings · perfection held by an independent Collateral Agent.
4. 04
   IMCSS Operating Agreement

   Issuer-level operating agreement governing issuance discipline and the absolute project-scope production prohibition.
5. 05
   Issuer-Level Integrity Instruments

   Three issuer-level instruments administered by an independent Collateral Agent for the purpose of supporting protocol environmental integrity. CAT holders do not hold direct claims on these instruments. (Per White Paper §03.3 and §10.1.)
6. 06
   29-Gate Mint Checklist documentation

   Issuance Eligibility Review (IER), Issuance Readiness Package (IRP), CEO sign-off record, and verification statement linkage. Per White Paper §08.1.

Affirmative classification.

The LMCX Carbon Avoidance Token (M-CAT) is classified as a digital environmental commodity unit— the on-chain record of a serialized, measured, verified physical methane-avoidance attribute. The classification is the issuer's affirmative position, prepared in coordination with U.S., EU, and UAE counsel. No regulator, court, or other authority has ruled. See White Paper §07.4.

United States. Not a security under SEC v. W.J. Howey (1946) or Reves v. Ernst & Young (1990): no common enterprise, no expectation of profit from issuer efforts, and no reliance on issuer managerial activity. The pricing reference (ICE IFEU IMPACT CP1.FUT MRP via Databento) is objective and externally sourced. Consistent with the digital environmental commodity characterization in SEC/CFTC Joint Release No. 2026-30 (March 17, 2026); CFTC anti-fraud and anti-manipulation jurisdiction attaches to spot trading and to any third-party derivatives.

European Union — MiCA.An “other crypto-asset” within Title II of Regulation (EU) 2023/1114. Not an asset-referenced token under Article 3(1)(6) — no stabilization mechanism, no peg, no reserve management, no algorithmic supply adjustment, no redemption-at-par mechanic, no basket reference. Not an e-money token under Article 3(1)(7) and Directive 2009/110/EC — no fiat reference, not redeemable at par against fiat, not a means of payment. Not a financial instrument under MiFID II (Directive 2014/65/EU) Annex I Section C.

UAE — VARA and ADGM FSRA. A non-financial Virtual Asset under both the Virtual Assets Regulatory Authority (Dubai) framework and the Financial Services Regulatory Authority (ADGM) framework. Not a Security Token, Fiat-Referenced Virtual Asset, Fiat Token, Derivative, or Specified Investment under either regime; not a Collective Investment Fund interest or Structured Product.

The M-CAT is not a security, investment contract, structured note, derivative, swap, future, forward, option, contract for differences, mutual fund or collective investment scheme interest, asset-referenced token, e-money token, Security Token, Specified Investment, or other regulated financial instrument under U.S., EU, UAE, or other applicable law. It bears no yield, interest, dividend, rebase, staking reward, or other passive economic accrual. The issuer does not undertake to maintain, support, or guarantee the market value of the M-CAT, to develop or guarantee any secondary market, or to engage in price-support, stabilization, market-making, or buy-back activity. Where third-party trading occurs, it is conducted by independent third parties on independent venues and is not part of the M-CAT's design or the issuer's offering.

The CAT-Forward Vintage (CAT-FV) is a bilateral, non-standardized, non-exchange-traded contractual conversion-right entitlement against a future-vintage M-CAT, governed by a streaming/prepay agreement modeled on established non-derivative commercial-supply precedent (mining-streaming, natural-gas prepay). Distinct outside-counsel opinions under each of the U.S., EU MiCA, and UAE frameworks above are conditions precedent to CAT-FV issuance. See White Paper §07.4.5 and §10.6.

The compliance framework is grounded in OGMP 2.0 Level 5, EPA Subpart W, ISO 14064, and ISO 14065 — no voluntary registry methodology is used. References to specific external schemes (CORSIA, Article 6, MiCA, CBAM) are not made on this site absent counsel-confirmed pathway. No statement on this site constitutes investment advice, a recommendation, or a forecast of appreciation, yield, or return.