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1Gold Hydrogen Limited 1Committed to Developing Naturally Occurring Hydrogen and Helium in Australia HENCA Tokyo 2026 - Hydrogen Energy Conference for ActionOctober 2026 | Gold Hydrogen Limited (ASX: GHY)The Vital Role of Natural Hydrogen in Supplying Cost-Effective Green Hydrogen at Scale
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2Gold Hydrogen Limited Important Notice & DisclaimerThis presentation is not a prospectus, disclosure document or offering document under Australian law or under any other law. It is for informational purposes only. This document does not constitute, and should not be construed as, an offer to issue or sell or a solicitation of an offer or invitation to subscribe for, buy or sell securities in Gold Hydrogen Limited ABN 74 647 468 899 (Gold Hydrogen).Any material used in this presentation is only an overview and summary of certain data selected by the management of Gold Hydrogen. The presentation does not purport to contain all the information that a prospective investor may require in evaluating a possible investment in Gold Hydrogen nor does it contain all the information which would be required in a disclosure document prepared in accordance with the requirements of the Corporations Act and should not be used in isolation as a basis to invest in Gold Hydrogen. The information contained in this presentation is not investment or financial product advice and has been prepared as general information only, without consideration for your particular investment objectives, financial situation or particular needs. Recipients of this presentation must make their own independent investigations, consideration, and evaluation of Gold Hydrogen. Gold Hydrogen recommends that potential investors consult their professional advisor/s as an investment in Gold Hydrogen is considered to be speculative in nature.Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the informationin this presentation remains subject to change without notice. Reliance should not be placed on information or opinions contained in this presentation.To the maximum extent permitted by law, Gold Hydrogen disclaims any responsibility to inform any recipient of this presentation on any matter that subsequently comes to its notice which may affect any of the information contained in this document and presentation and undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise.To the maximum extent permitted by law, no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any person.To the maximum extent permitted by law, neither Gold Hydrogen nor, any affiliates, related bodies corporate and their respective officers, directors, employees, advisors and agents (Relevant Parties), nor any other person, accepts any liability as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or any omission from this presentation or of any other written or oralinformation or opinions provided now or in the future to any person.This presentation includes information regarding the past performance of Gold Hydrogen. Recipients of this presentation should be aware that past performance should not be relied upon as being indicative of future performance.This presentation contains statistics, data and other information pertaining to Gold Hydrogen’s business and operations. Recipients of this presentation should note that industry and market data and statistics areinherently predictive and subject to uncertainty and not necessarily reflective of actual industry or market conditions. There is no assurance that any of the estimates or projections in this presentation will be achieved. Gold Hydrogen has not independently verified, and cannot give any assurances to the accuracy or completeness of, this market and industry data or the underlying assumptions used in generating this market and industry data. This presentation contains “forward looking statements” concerning the financial condition, results of operations and business of Gold Hydrogen. All statements other than statements of fact or aspirational statements, are or may be deemed to be “forward looking statements”. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, “outlook”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives ofmanagement, future or anticipated production or construction commencement dates and expected costs, resources or reserves, exploration results or production outputs. Forward looking statements are statements of future expectations that are based on management’s current expectations and assumptions and known and unknown risks and uncertainties that could cause the actual results, performance, or events to differ materially from those expressed or implied in these statements. Theserisks include, but are not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results,commercialization, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal, and regulatory developments, economic and financial market conditions in various countries and regions, political risks, projectdelay or advancement, approvals, and cost estimates. More detail on the risks relevant to Gold Hydrogen’s business and operations is set out in Risks section of this presentation.Prospective Resource StatementsThe Prospective Resource Statements for Natural Hydrogen and for Helium have been included in presentation under the approval of Mr Billy Hadi Subrata, Chief Engineer for Gold Hydrogen, who is a Qualified Petroleum Reserves and Resources Evaluator. Mr Hadi Subrata confirms that, as at the date of this announcement, there is no change to information or additional information, since the effective dates, that would materially change the estimates of prospective resources quoted.QPRRE Statement – Natural HydrogenThe Prospective Resource Statement for Natural Hydrogen in this presentation is based on, and fairly represents, information and supporting documentation prepared by independent consultants “Teof Rodrigues & Associates” with an effective date of 30 September 2021, and which forms part of the Company’s Replacement Prospectus dated 29 November 2022. The Prospective Resource Statement, together with all relevant notes, also appears in the Company’s ASX releases of 13 January 2023 and 30 October 2024.QPRRE Statement - HeliumThe Prospective Resource Statement for Helium in this announcement is based on, and fairly represents, information and supporting documentation prepared by independent consultants “Teof Rodrigues & Associates” with an effective date of 21 February 2024, and which was announced by the Company on that date (as well as 30 October 2024) together with the accompanying assumptions and notes.goldhydrogen.com.au | ASX:GHY |
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3Gold Hydrogen Limited What is Natural Hydrogen?Hydrogen generated continuously in the Earth’s crust and trapped like natural gas. It is produced by drilling and flowing to surface, not by electrolysis.RAMSAY PROJECT GAS SYSTEM (SIMPLIFIED, NOT TO SCALE)Parara LimestoneHydrogen-bearing zone. Natural Hydrogen measured at 240m in Ramsay 1.Kulpara Dolomite, 600 to 800 mHelium dissolved in formation water, released at surface by separation.Granite basementSource rock. Uranium and thorium decay generates Helium and splits water into Hydrogen (radiolysis).HeH₂Gas migrationRamsay wellHOW IT FORMSSerpentinisation Water reacts with iron-rich rocks, oxidising the iron and releasing Natural Hydrogen.Radiolysis Radiation from uranium and thorium in granites splits water. The same decay produces Helium, so the two gases occur together.WHY IT MATTERS FOR COST AND SCALENo power inputElectrolysis uses about 50 to 55 kWh of electricity per kg of Hydrogen. Natural Hydrogen is drilled, brought to surfaceand separated and purified, like natural gas.5.6 trillion tUSGS most probable estimate of Natural Hydrogen potential worldwide. Recovering about 2% would meet projected net-zero Hydrogen demand for around 200 years.Since 2012A Natural Hydrogen well at Bourakebougou, Mali (circa 98% Natural Hydrogen) has supplied local power since 2012.Sources: Ellis and Gelman (USGS), Science Advances, 2024; Prinzhofer et al., Int. J. Hydrogen Energy, 2018; IEA Global Hydrogen Review; GHY ASX releases, including 5 August 2026; goldhydrogen.com.au/investor centre/technical articles
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4Gold Hydrogen Limited Introducing Gold Hydrogen and our Japanese Strategic Investors Prospective resources1.3 billion kgNatural Hydrogen41 BcfHelium best estimate, 96 Bcf mean Ramsay Project, 100% owned7,820 km²granted1, PEL 68769,472 km²further under exclusive application High-purity gas samplesUp to 97%Natural HydrogenUp to 36.9%Helium, Helium-3 detected JAPANESE STRATEGIC INVESTORS Fuel cell mobility and power. Natural Hydrogen for heavy trucking. Green methanol pre-feasibility under a non-binding LOI. Decades of dissolved-gas operations in Japan. Operates the Nakajo dissolved-gas-in-water field in Japan, the development analogue for Ramsay Helium.1. Note that PEL 687 is currently in the process of renewal, and is subject to a 33% mandatory relinquishment, per standard South Australian petroleum licence regulations. Refer ASX announcements of 27 Oct 2023, 27 May 2024, 2 Aug 2024, 17 and 30 Oct 2024 and 2 Dec 2025. Gas samples are air and nitrogen corrected. Technical tables appended.Refer Slide 8 for full details of Prospective Resources.
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5Gold Hydrogen Limited World-Class Results at the Ramsay Project Australia’s first dedicated Natural Hydrogen well. Helium has now been flowed, purified and bottled onsite.97%Natural HydrogenAir-corrected, Ramsay 3 (Nov 2025). Continuity with Ramsay 2 over 2.3 km.36.9%Helium at wellheadPeak, 2024 well testing. Commercial Helium projects can operate at purities as low as 1% (as a by-product).19%Helium under sustained flowStabilised over five days, up to 30%. Ramsay 1, July 2026, air-corrected.50.5%Helium after one membrane stageFrom a 5.6% raw stream. Purified and bottled onsite, the first in Australia since 2023.901 pptHelium-3Measured in Ramsay samples (Oxford University). Isotopic analysis continuing with CSIRO and Oxford.96 BcfHelium prospective resourceMean estimate (best estimate 41 Bcf), unrisked. Teof Rodrigues & Associates, 21 Feb 2024.(Refer Slide 8 for full details) Ramsay drilling, PEL 687Yorke Peninsula, South AustraliaSources: GHY ASX releases 21 Feb 2024, 17 Oct 2024, 2 Dec 2025, 29 Jul 2026 and 5 Aug 2026. Field measurements are preliminary and subject to laboratory confirmation. Technical tables appended.Refer to Slide 8 for full details of Prospective Resources. GHY currently has no reserves or contingent resources.
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6Gold Hydrogen Limited Naturally occurring Hydrogen offers significant cost and / or carbon advantages relative to other Hydrogen production (manufacturing) processesGold Hydrogen is exploring for ‘gold’ or ‘white’ (natural) HydrogenTypes of Hydrogen Production GreenBlueBlack/BrownGreyGold / White (natural)Renewables / biomassNatural gas / coalCoalNatural gasNatural hydrogenEnergy sourceLowLowVery HighHighLowEnvironmental impactNo thermal processP: $6.40-$25.50 A: $4.70-$23.20$10.20-$10.30$6.20-$6.40$5.60$1.00Production cost (A$/kg)1,2Cost comparable to existing power generation3 Today, ~95% of all hydrogen produced is from natural gasSource: Frost and Sullivan, Sep-2022 (Refer Gold Hydrogen Replacement Prospectus dated 29 November 2022)1. Source: Christophe Rigollet1, Alain Prinzhofer2,3, Natural Hydrogen: A New Source of Carbon-Free and Renewable Energy That Can Compete With Hydrocarbons, First Break, Volume 40, Issue 10, Oct 2022, p. 78 – 84 DOI: https://doi.org/10.3997/1365-2397.fb2022087; “The Bourakébougou field, in Mali, represents the first natural hydrogen deposit studied both scientifically and industrially. It gives us information on its renewability, on the natural flows involved and therefore on its sustainable exploitation. It is possible to estimate that the cost of operating hydrogen would be less than $1/kg, which is significantly cheaper than any manufactured hydrogen, whether green, grey, or blue. Equivalent work is in progress in other continents, in order to be able to compare our knowledge of this Malian field with other fields in the world, which will make it possible to better ensure the industrial and societal interest of R&D for this new field.”2. P = Polymer electrolyte membrane electrolysis. A = Alkaline Electrolysis. Gold Hydrogen cost is an estimate3. For industrial buyers, a hydrogen offtake price of €3 ($4.50) per kg would be required to incentivise hydrogen production over power generation goldhydrogen.com.au | ASX:GHY |
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7Gold Hydrogen Limited What’s Next for Gold Hydrogen?Potential to commercialise Helium via modular plant for near-term revenue. Natural Hydrogen pilots and free gas exploration run in parallel toward Natural Hydrogen at scale in the longer-term.1Helium commercial production stepsContingent resource, accelerated FEED and a two-train modular Helium plant at Ramsay.2Step-out Natural Hydrogen pilotsNatural Hydrogen power for the Helium plant, then potential partner pilots with Japanese investors.3Free gas exploration2027 to 2028: seismic, two to three wells and flow testing across PEL 687 and 8 application areas. Natural Hydrogen trucking trialFuel cell trucks supplied with Ramsay Natural Hydrogen, with Toyota. Green methanol studiesPre-feasibility with MGC on the Yorke Peninsula. Natural Hydrogen liquefaction potentialLiquid Natural Hydrogen export feasibility with a Japanese technology partner.
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8Gold Hydrogen Limited Gold Hydrogen Prospective Resources (Using PRMS guidelines) Unrisked Prospective HydrogenResources, PEL 687High Estimate (kTonnes)Best Estimate (kTonnes)Low Estimate (kTonnes)SPE-PRMS Sub-Class Category8,0501,135165Prospect77017842Lead8,8201,313207TotalCertified Prospective Hydrogen Resources, existing discoveries and drill ready hydrogen prospects (calculated volume not determined) NOTE- All estimates are unrisked and aggregated arithmetically by category, hence caution that the aggregate low estimate maybe a conservative estimate and the aggregate high estimate maybevery optimistic estimate due to the portfolio effects of arithmetic summation. The estimated quantities of hydrogen and / or helium that may potentially be recovered by the application of futuredevelopment project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery (Pg), risk of development (Pd) and risk of commercialization (Pc). Furtherexploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable hydrogen and / or helium. Unrisked Prospective HeliumResources, PEL 687High Estimate (Bscf)Best Estimate (Bscf)Low Estimate (Bscf)SPE-PRMS Sub-Class Category3882Prospect Ramsay Fault Block205335Prospect South of Ramsay Fault Block243417TotalCertified Prospective Helium Resources, Ramsay Field(PEL 687 Yorke Peninsula) See following slides for full details and notes related to each Prospective Resource Estimategoldhydrogen.com.au | ASX:GHY | The Prospective Resource Statements for Natural Hydrogen and for Helium have been included in this presentation under the approval of Mr Billy Hadi Subrata, Chief Techical Officer for Gold Hydrogen, who is a Qualified Petroleum Reserves and Resources Evaluator. Mr Hadi Subrata confirms that, as at the date of this announcement, there is no change to information or additional information, since the effective dates, that would materially change the estimates of prospective resources quoted.
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9Gold Hydrogen Limited Notes to Prospective Resource TablesProspective Resource Statement for Natural HydrogenThe estimate of Natural Hydrogen Prospective Resources must be read in conjunction with the notes below, and it should be noted that the estimated quantities of Natural Hydrogen thatmay potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a riskof development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable Natural Hydrogen.Notes:1. This reserves statement presents Gold Hydrogen’s Prospective Resources. Gold Hydrogen currently has no Reserves and no Contingent Resources.2. Estimates are assessed to comply with the ASX Listing Rules for Prospective Resources and SPE-PRMS 2018 with the understanding that naturally occurring hydrogen may be considered a hydrocarbon since ithas energy content and can be used stand alone and/or blended with sales gas. “U” implies Prospective Resources.3. Per ASX Listing Rules 5.28.4 and 5.28.5 estimates are unrisked and aggregated arithmetically by category, hence caution that the aggregate low estimate may be a very conservative estimate and the aggregatehigh estimate may be a very optimistic estimate due to the portfolio effects of arithmetic summation.4. Probabilistic methods are used to prepare the estimates. The distribution of the estimates is the “full distribution” and has not been truncated by application of the MEPS (minimum economic pool size concept).5. The Reference Point is at the wellhead/edge of lease (i.e. wellhead facilities) so the estimates have no deduction for flare, vent or fuel consumed in operations.6. Pg (Chance of Geologic Discovery), Pd (Chance of Development) and Pc (Chance of Commerciality = Pg x Pd) are calculated as a weight average of the P50’s of the H2 (‘000 Tonnes) of the prospects.7. Pg incorporates Play Risk and Prospect Risk.8. Pd incorporates an assessment across all SPE-PRMS Commerciality Criteria (i.e. not just economics).9. Information in the table is rounded. Some totals in the tables may not add due to rounding.10. This reserves statement:• is based on, and fairly represents, information and supporting documentation prepared by the qualified petroleum reserves and resources evaluators listed in note 13 below. Details of each qualifiedpetroleum reserves and resources evaluator’s employment and professional organisation membership are set out in note 13 below;• was originally approved by Luke Titus, who is a qualified petroleum reserves and resources evaluator and whose employment and professional organisation membership details are set out in note 13 of thisreserves statement;• is issued with the prior written consent of Luke Titus and Teof Rodrigues & Associates (“TRA” - involving Teof Rodrigues, Paul Strong, and Greg Horton, whose employment and professional organisationmembership details are set out in note 14 of this reserves statement) as to the form and context in which the estimated Natural Hydrogen resources and the supporting information are presented.11. There is no change to information or additional information, since the effective date of 30 September 2021, that Gold Hydrogen and TRA are aware of that would materially change the estimates in this reservesstatement.12. Gold Hydrogen engages independent experts TRA to evaluate reserves and resources.13. Qualified Petroleum Reserves and Resources Evaluators are:
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10Gold Hydrogen Limited Notes to Prospective Resource TablesProspective Resource Statement for HeliumThe estimate of Helium Prospective Resources must be read in conjunction with the notes below, and it should be noted that the estimated quantities of Helium that maypotentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discoveryand a risk of development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable Helium.Notes:1. This table presents Gold Hydrogen's Prospective Resources for Helium in the Ramsay Field of Yorke Peninsula only. Gold Hydrogen currently has no Reserves and no Contingent Resources.2. Estimates are assessed to comply with the ASX Listing Rules for Prospective Resources and SPE-PRMS 2018. SPE have provided guidance regarding the Extension of PRMS Principles to Non-Hydrocarbon/Non-Traditional Situations including Helium (and Hydrogen).Refer: https://www.spe.org/en/industry/reserves/non-hydrocarbons/3. Per ASX LRs 5.28.4&5 estimates are unrisked and aggregated arithmetically by category, hence caution that the aggregate low estimate may be a very conservative estimate and the aggregate high estimate may be a very optimistic estimate due to the portfolio effects of arithmetic summation.4. Probabilistic methods are used to prepare the estimates. The distribution of the estimates is the "full distribution" and has not been truncated by application of the MEPS (minimum economic pool size) concept.5. The Reference Point is at the wellhead/edge of lease (i.e. wellhead facilities) so the estimates have no deduction for flare, vent or fuel consumed in operations.6. Pg (Chance of geologic Discovery), Pd (Chance of Development) and Pc (Chance of Commerciality = Pg x Pd) are calculated as a weight average of the P50's of the Helium Bcf (Billion Cubic Feet) of the prospect formations.7. Pg incorporates Play Risk and Prospect Risk.8. Pd incorporates an assessment across all SPE-PRMS Commerciality Criteria (i.e. not just economics).9. Information in the table and throughout the Report is rounded. Some totals in the tables may not add due to rounding.10. There is no change to information or additional information, since the effective date of 21 February 2024, that Gold Hydrogen and TRA are aware of that would materially change the estimates in this reserves statement.QPRRE StatementThe Prospective Resource Statement in this announcement is based on, and fairly represents, information and supporting documentation prepared by independent consultants “Teof Rodrigues & Associates” (Mr Teof Rodrigues, Mr Paul Strong and Mr Greg Horton) and Mr Billy Hadi Subrata, Chief Technical Officer for Gold Hydrogen, with an effective date of 21 February 2024. The Prospective Resource Statement has been included in this presentation:•under the approval of Mr Billy Hadi Subrata, Chief Technical Officer for Gold Hydrogen, who is a Qualified Petroleum Reserves and Resources Evaluator; and•with the prior written consent of Mr Billy Hadi Subrata and “Teof Rodrigues & Associates” (Mr Teof Rodrigues, Mr Paul Strong and Mr Greg Horton) as to the form and context in which the helium prospective resource statement and supporting information are presented. The employment and professional organisation membership details of Mr Billy Hadi Subrata, Mr Teof Rodrigues, Mr Paul Strong and Mr Greg Horton are as follows:
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11Gold Hydrogen Limited Technical Tables – ASX Listing Rule 5.30 goldhydrogen.com.au | ASX:GHY | Ramsay 1 - 2024 Well Testing CampaignName:Location (UTM zone 53 GDA2020)748,208.07X6149545.7YPEL687PermitGold Hydrogen 100%Entity holdersZone 2 and 3Zones testedHeliumResourcesKulpara DolomiteFormation180m GrossGross thickness and net pay thicknessDolomiteGeological rock type900 mMDDepth of the zones testedCommingled pressure testType of testGas / WaterPhase recovered36.9% HeCorrected He concentration in gas recovered from downhole sample1 Mscf/day gas constraint by pump capacity and flow intermittently with water; choke size 20/64 inch; volumes recovered 0.55 MscfFlow rates, choke size, volumes recoveredNoneFracture stimulationNitrogen, HydrogenMaterial non hydrocarbons Table 2 – Sample Analysis Table – Ramsay 1 Well(Originally Published 17 October 2024)Ramsay 3 – 2025 Drilling CampaignName:Location (UTM zone 53GDA2020)749096 mEX6151186 mNYPEL 687PermitGold Hydrogen 100%Entity holders(s)Hydrogen, HeliumResourcesParara, Kulpara, Winulta and Hiltaba basementFormation85m grossGross thickness and net paythicknessLimestones, Dolomites, Dolomitic Sandstones andfractured GranitesGeological rock type148-870mDepth of the zones testedCalibrated mud gas log data and IsotubesType of test and durationGasPhase recoveredUp to 97% H2Corrected H2concentration ingas recovered from downholesampleN/AOther types of recoveryN/AFlow rates, choke size, volumesrecoveredN/AFracture stimulationHydrogen, Helium, Nitrogen, CO2Material non hydrocarbons Table 1 – Sample Analysis Table – Ramsay 3 Well(Originally Published 2 December 2025)
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12Gold Hydrogen Limited Technical Tables – ASX Listing Rule 5.30 goldhydrogen.com.au | ASX:GHY |
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13Gold Hydrogen Limited Technical Tables – ASX Listing Rule 5.30 goldhydrogen.com.au | ASX:GHY | Ramsay 1 – 2026 Well Testing CampaignName:Location (UTM zone 53GDA2020)748208.07 mEX6149545.7 mNYPEL 687PermitGold Hydrogen 100%Entity holders(s)HeliumResourcesKulpara Dolomite (primary Helium target zone, and pumplocation), Parara Limestone, Granite BasementFormation793m gross (with 180m gross primary target zone for Helium)Gross thickness and net paythicknessDolomite, Limestone, GraniteGeological rock type212m to 1005mDepth of the zones testedCommingled Electric Submersible Pump (ESP) Flow testType of test and durationGas, waterPhase recovered19% He (stabilised), 30%+ He (peak) without purificationCorrected He concentration ingas recovered during flow testUp to 2000 bbl/day of water flowed through 14/64 inch chokeFlow rates, choke size, volumesrecoveredN/AFracture stimulationHydrogen, Helium, Nitrogen, CO2Material non hydrocarbons Table 5 – Sample Analysis Table for Ramsay 1 – 2026 Well Testing(Originally Published 29 July 2026)Ramsay 1 – 2026 Helium Flow Testing Ramsay 1 – vertical exploration well, flow tested with electricalsubmersible pump(Name and type of wellPEL 687, Yorke Peninsula, South Australia. UTM zone 53 GDA2020: X748,208.07 / Y 6,149,545.7Location, permit or leaseGold Hydrogen Limited 100%Entity’s working interestInsufficient information is presently available to determine net paythickness. 180m gross pay thickness in Kulpara Dolomite (Heliumzone)Net pay thickness (conventional)Parara Limestone, Kulpara Dolomite, Granite basementGeological rock type212m to 1,005mDepth of zones testedProduction flow test using a 2,000 bbl/day electrical submersiblepump, commenced 25 July 2026, total duration 7 days including 5days of stabilised flowType and duration of test(s)Not applicable – no hydrocarbons recovered. Gas stream comprisespredominantly Helium, nitrogen and Natural Hydrogen.Hydrocarbon phases recoveredFormation water produced at rates between 500 - 2,000 bbl/day;Gas dissolved in water. An in-situ gas–water ratio of approximately 3scf/bbl is calculated from the downhole bailer samples collectedduring the Ramsay 1 2024 flow test. Gas-water ratios of up to 6.4scf/bbl were also measured from surface samples during 2024 flowtestingOther recovery and proportionsGross fluid rate of up to 2,000 bbl/day (constrained by ESP ratedcapacity, not reservoir deliverability); raw gas rate of approximatelyup to 6.0 Mscf/day; Helium rate of approximately 1.14 Mscf/day;choke size 14/64 inch; cumulative volumes recovered 3808 bbl.Derived Productivity Index of approximately 20 bbl/day/psi atapproximately 100 psi drawdown. PI of up to 34 bbl/day/psi werealso calculatedChoke size, flow rates and volumesNoneFracture stimulationHelium (air-corrected concentration of up to 30%, stabilised at 19%),Hydrogen, Nitrogen, CO2Material non-hydrocarbon gasesThe well is completed with 4-inch slotted liner and the test wasconstrained by installed pump capacity. Field measurements arepreliminary and subject to independent laboratory confirmation.Modelled flow rates at 20,000 bbl/day are set out in Note 1 andhave not been demonstrated by flow testing.Other material information Table 6 – Sample Analysis for Ramsay 1 – 2026 Well Testing(Originally Published 5 Aug 2026)
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14Gold Hydrogen Limited Simon TalbotVP - Commercialstalbot@goldhydrogen.com.auMarshall HoodVP - Operationsmhood@goldhydrogen.com.auNeil McDonaldManaging Directornmcdonald@goldhydrogen.com.au Gold Hydrogen Limited | GPO Box 801 Brisbane, Qld, 400, Australia | goldhydrogen.com.au