This study presents a component-based axial force–moment P–M interaction framework for exposed column-base plate (ECBP) connections subjected to uniaxial bending about the column strong axis. An experimental database was extended and used to calibrate finite element models and validate the proposed framework. Because the loading protocols in the available database covered a limited range of axial forces, validated finite element analyses were conducted for six numerical specimens to investigate the full range of P–M combinations. Subsequently, the load-transfer mechanisms embedded in AISC Design Guide 1 and Eurocode 3:1-8 were reformulated into explicit component-level P–M resistance relations for the column, anchor bolts, and base plate. These relations enable the evaluation of connection resistance and identification of the governing component and associated failure mechanism for prescribed combinations of axial force and bending moment. The framework was evaluated against the numerical results and 30 experimental specimens. A parametric study further examined the influence of base plate thickness on component-level P–M resistance and the governing failure mechanism. The results characterize the predictive performance of the proposed formulations and reveal differences between the American- and European-based approaches.