A new class of diamino-substituted π-extended phenazine compound was synthesized, and its photophysical properties were investigated. The U-shaped diaminophenazine displayed photoluminescence in solution with moderate quantum yield. The diamino aromatic compound was found applicable to the poly-condensation with formaldehyde to form Tröger’s base ladder polymer. The obtained microporous ladder polymer features high CO2 adsorption selectivity against N2, most likely due to the presence of basic nitrogen atoms in the phenazine rings.