Earnings release
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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY , IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, D ISTRIBUTED TO, OR SENT BY , ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS. NEWS RELEASE | FEBRUARY 26, 2026 | CASCAIS, PORTUGAL PULSAR FILES FINANCIAL AND OPERATING RESULTS FOR THE FIRST QUARTER ENDED DECEMBER 31, 2025 Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar " or the " Company"), a primary helium company, is pleased to announce its financial and opera�ng results for the three months ended December 31, 2025 (the “Period”). Selected financial and opera�onal informa�on is outlined below and should be read in conjunc�on with the Company's unaudited condensed interim consolidated financial statements and related management's discussion and analysis (the "MD&A") for the three months ended December 31, 2025, which are available on the Company's website at www.pulsarhelium.com and the Company’s SEDAR+ profile at www.sedarplus.ca. All figures are in US dollars ("$") unless otherwise stated. Opera�onal Highlights for the Period and Post Period • In October 2025, the Company commenced a drilling programme aiming to drill up to ten wells, with a total of six completed to date (Jetstream #1 - #6) and drilling underway at Jetstream #7. The drilling program’s primary goal is to delineate the extent and produc�vity of the helium reservoir at Topaz. Data from these core wells, including gas shows, core samples, and downhole measurements, will enable Pulsar to map reservoir con�nuity betw een the well loca�ons and to iden�fy op�mal areas for future produc�on. • In November 2025, the Company completed drilling of the Jetstream #3 appraisal well to a total depth of 3,507 feet (1,069 meters), and completed drilling of the Jetstream #4 appraisal well to a total depth of 3,000 feet (914 meters). • In January 2026, two U.S. Federal laboratories independently confirmed the helium -3 (3He) isotope concentra�on from the T opaz Project. The U.S. Geological Survey Noble Gas Laboratory in Denver and Lawrence Livermore Na�onal Laboratory in California each analyzed raw gas samples from the Jetstream #1 well, both laboratories reported results consistent with prior analyses conducted by the Woods Hole Oceanographic Ins�tu�on, confirming the presence of ³He in the gas with a concentra�on range of 11.2- 11.9 parts-per-billion (ppb) and associated with 7.7- 8.0% helium-4 ( 4He), respec�vely. • In January 2026, the Company completed drilling of the Jetstream #5 appraisal well to a total depth of 3,839 feet (1,170 meters), and in February 2026, the Company completed drilling of the Jetstream #6 appraisal well to a total depth of 2,597 feet (792 meters). Acquisitions for the Period and Post Period • In November 2025, the Company entered into a defini�ve agreement to acquire 80% of the common shares of Quantum Hydrogen Inc. (“Quantum”), a Texas corpora�on, which holds exclusive mineral rights for non-hydrocarbon gases in Minnesota that are located in the St. Louis and Itasca Coun�es to the west of the Company's Topaz project. In considera�on, the Company agreed to issue common shares having an aggregate value of $400,000, to be issued in five equal monthly tranches of $80,000 each over a five- month period commencing upon receipt of TSX -V approval. The number of common shares in each tranche will be determined by the thirty-day volume-weighted average price of the Company’s common shares prior to each issuance. The Company was also granted the op�on to acquire the remaining 20%
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of Quantum within eighteen months for an addi�onal $400,000 payable in common shares of the Company, issuable under the same terms and pricing mechanism as set out above. In December 2025, the Company issued 292,560 common shares to sa�sfy the first and second monthly tranches of $80,000 each. In January 2026, the Company issued 145,434 common shares sa�sfying the third monthly tranche of $80,000, and in February 2026, the Company issued 80,947 common shares sa�sfying the fourth monthly tranche of $80,0 00. The fi�h and final tranche of common shares is due in March 2026 to complete the acquisi�on of Quantum. Once acquired, these mineral rights will expand the Company’s land posi�on west of the Topaz project. • In January 2026, the Company completed the acquisi�on of 100% of the common shares of Hybrid Hydrogen Inc. (“Hybrid”) for total considera�on of $105,000 cash. Hybrid holds an exclusive mineral rights op�on to lease in Michigan’s Upper Peninsula, targe� ng non -hydrocarbon gases (primarily helium). The Company now refers to this project as the Falcon helium project. Financial Highlights for the Period and Post Period • During the Period, the Company recorded explora�on and evalua�on expenditures of $2 million related to drilling at the Topaz project as described above. • During the Period, the Company issued 16,150,567 common shares on the exercise of warrants for gross proceeds of $4.1 million. • During the Period, the Company issued 800,000 c ommon shares on the e x ercise of op�ons f or gross proceeds of $0.3 million. • Post Period, the Company announced an equity fundraising (the “Placing”) for gross proceeds of approximately £7.4 million (approximately $10 million) at a price of £0.80 per share. The Placing is being conducted by way of an accelerated bookbuild process managed by OAK Securi�es (a trading name of Merlin Partners LLP) as exclusive bookrunner and is expected to be completed on February 27, 2026. Thomas Abraham-James, President & CEO of Pulsar, commented: “ During the Period and Post Period , Pulsar advanced its appraisal drilling program at the Topaz Project, completing additional wells and further delineating the scale and continuity of the helium -bearing reservoir. The data gathered from drilling, pressure and gas analysis continues to str engthen our understanding of the system and supports the next phase of resource evaluation and development planning. "In February, we announced a £7.4 million (approximately $10 million) capital raise, which is expected to close on February 27, 2026, completion of which significantly strengthens the Company’s balance sheet and provides the financial flexibility to advance Topaz and progress our broader portfolio.” On behalf of Pulsar Helium Inc. “Thomas Abraham-James” President, CEO and Director Further Information: Pulsar Helium Inc. connect@pulsarhelium.com + 1 (218) 203-5301 (USA/Canada) +44 (0) 2033 55 9889 (United Kingdom) htps://pulsarhelium.com htps://ca.linkedin.com/company/pulsar-helium-inc.
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Strand Hanson Limited (Nominated & Financial Adviser, and Broker) Ritchie Balmer / Rob Patrick +44 (0) 207 409 3494 Yellow Jersey PR Limited (Financial PR) Charles Goodwin / Annabelle Wills +44 777 5194 357 pulsarhelium@yellowjerseypr.com About Pulsar Helium Inc. Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of the London Stock Exchange (United Kingdom) and listed on the TSX Venture Exchange with the �cker PLSR (Canada), as well as on the OTCQB with the �cker PSRHF (United States of America). Pulsar's por�olio consists of its flagship Topaz helium project in Minnesota, the Falcon project in Michigan (both in the USA), and the Tunu helium project in Greenland. Pulsar is the first mover in both loca�ons with primary helium occurrences not associated with the produc�on of hydrocarbons iden�fied at each. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains forward-looking informa�on within the meaning of Canadian securi�es legisla�on (collec�vely, "forward-looking statements") that relate to the Company's current expecta�ons and views of future events. Any statements that express, or involve discussions as to, expecta�ons, beliefs, plans, objec�ves, assump�ons or future events or performance (o�en, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will con�nue" , "is an�cipated", "an�cipates", "believes", "es�mated", "intends", "plans", "forecast", "projec�on", "strategy", "objec�ve" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, expected closing of the Placing, statements rela�ng to bringing the Topaz project to produc�on, the poten�al impact of the drill results, flow tes�ng and pressure tes�ng on the next itera�on of the resource es�mate; the poten�al of CO 2 and/or Helium -3 as a valuable by -product of the Company’s future helium produc�on; the poten�al for future wells ; comple�on of acquisi�on of Quantum and issuance of the fi�h tranche of the rela�ng shares . Forward-looking statements may involve es�mates and are based upon assump�ons made by management of the Company, including, but not limited to, the Company's capital cost es�mates, management's expecta�ons regarding the availability of capital to fund the Company's future capital and opera�ng requirements and the ability to obtain all requisite regulatory approvals.
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No reserves have been assigned in connec�on with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its ac�vi�es, which are principally directed toward the future explora�on, appraisal and development of its assets, and poten�al acquisi�on of property interests in the future. Un -risked Con�ngent and Prospec�ve Helium Volumes have been defined at the Topaz Project. However, es�ma�ng helium volumes is subject to significant uncertain�es associated with technical data and the interpreta�on of that data, future commodity prices, and development and opera�ng costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that es�mated volume. Es�mates may alter significantly or become more uncertain when new informa�on becomes available due to for example, addi�onal drilling or produc�on tests over the life of field. As es�mates change, development and produc�on plans may also vary. Downward revision of helium volume es�mates may adversely affect the Company's opera�onal or financial performance. Helium volume es�mates are expressions of judgement based on knowledge, experience and industry prac�ce. These es�mates are imprecise and depend to some extent on interpreta�ons, which may ul�mately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new informa�on or techniques become available. As further informa�on becomes available through addi�onal drilling and analysis the es�mates are likely to change. Any adjustments to volume could affect the Company's explora�on and development plans which may, in turn, affect the Company's performance. The process of es�ma�ng helium resources is complex and requires significant decisions and assump�ons to be made in evalua�ng the reliability of available geological, geophysical, engineering, and economic data for each property. Different engineers may make different es�mates of resources, cash flows, or other variables based on the same available data. Forward-looking statements are subject to a number of risks and uncertain�es, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward -looking statements. Such risks and uncertain�es include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially produc�ve wells; the uncertainty of resource es�ma�on; opera�onal risks in conduc�ng explora�on, including that drill costs may be higher than es�mates; commodity prices; health, safety and environmental factors; and other factors set forth above as well as risk factors included in the Company’s Annual Informa�on Form dated February 3, 2026 for the year ended September 30, 2025 found under Company’s profile on www.sedarplus.ca. Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obliga�on to update or revise any forward-looking statements, whether as a result of new informa�on, future events or otherwise, except as may be required by law. New factors emerge from �me to �me, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combina�on of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward -looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward -looking statements contained in this news release are expressly qualified in their en�rety by this cau�onary statement.