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The primary helium company Annual General Meeting 16th December 2024 London, UK Strategic resource in an expanding market LSE AIM: HE1 helium-one.com
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Disclaimer Statement 2 The sole purpose of this introductory document (“Document”) is to provide information on Helium One Global Ltd and its subsidiary companies (“Helium One” or “the Company”). This Document is strictly private and confidential and is intended solely for the information of the recipient. It is not an invitation for public subscription and should not be reproduced or circulated or used for any purpose. This Document is made available to you strictly on the basis that the information contained within this Document constitutes Confidential Information, and accordingly this Document, and all Confidential Information provided, are returnable to Helium One. Notice is given that: 1. The information relating to the Company contained herein has been provided by the Directors. 2. Liberum Capital Ltd (“Liberum”) and Zeus Capital Ltd (“Zeus”) are acting as joint brokers to the Company and in the provision of corporate finance to the Company, within the meaning of the Financial Conduct Authority’s Conduct of Business Sourcebook (“COBS”), and no one else in connection with the information contained in this Document. Accordingly, recipients should note that neither Liberum nor Zeus are advising or treating as a client any other person and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Liberum and Zeus under the COBS nor for providing advice in relation to the information contained in this Document. 3. In no circumstances will the Directors, the Company, Liberum, nor Zeus or any of their respective, affiliates, representatives, partners, directors, officers, employees, advisers or agents (collectively “the Relevant Parties”) be responsible for any of the information in this Document, including the forecasts and details. These are supplied as a guide only and do not purport to contain all the information that an interested party may require. By accepting this Document, the recipient acknowledges that it will be solely responsible for making its own investigations, including the costs and expenses incurred, and forming its own view as to the condition and prospects of the Company and the accuracy and completeness of the statements contained herein. 4. This Document includes certain statements, estimates and projections provided by the Company with respect to its anticipated future performance. Such statements, estimates and projections reflect various assumptions concerning anticipated results and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are or may be beyond the control of the Company. Accordingly, there can be no assurance that such statements, estimates and projections will be realised. The actual results may vary from those projected, and those variations may be material. No representations are or will be made by any party as to the accuracy or completeness of such statements, estimates and projections or that any projection will be achieved. 5. None of the Relevant Parties has any authority to make or give any representation or warranty whatsoever in relation to the business or prospects of the Company and makes no such representation or warranty. 6. The information contained herein and any further information (whether written, electronic or oral) relating to the Company supplied by any of the Relevant Parties is, and will be, supplied on the condition that none of the Relevant Parties or any other person whatsoever is liable for any error, omission, or inaccuracy therein nor for any loss or damage sustained by an investor of the business placing reliance on such information, including any error or omission or inaccuracy resulting from any negligent act or omission of any of the Relevant Parties or any other person. No party accepts any responsibility or gives any undertaking to provide further information, including any information required to correct any earlier inaccuracy or error. 7. The information contained herein does not, and will not, form any part of a contract or offer for sale or to invest. Furthermore, it does not constitute an offer capable of acceptance and no binding commitment may be entered into on the basis of the information contained herein. 8. None of the Relevant Parties undertake to accept any proposal and they reserve the right to accept or reject any proposal for any reason. They reserve the right to negotiate with one or more potential parties at any time and to enter into a definitive agreement for a transaction involving the Company without prior notice to the recipient of this Document or other potential investors. They also reserve the right to terminate, at any time, further participation in the investigation and proposed process by any party, to modify any of the rules or procedures set forth herein or any other procedures without prior notice or assigning any reason therefore or to terminate the process contemplated hereby. They reserve the right to take any action, whether in or out of the conduct of the Company’s businesses, or the process contemplated by this Document. 9. Neither the receipt of this Document nor any information (whether written, electronic or oral) made available in connection with the proposed investment in the Company constitutes, or is to be taken as constituting, the giving of investment advice by any of the Relevant Parties. 10. This communication is directed only at persons who are persons having professional experience in matters relating to investments or are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations, etc”) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (all such persons together being referred to as “relevant persons”). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Each recipient of this communication (“Recipient”) represents and warrants that he or it is a relevant person and agrees to inform himself or itself about and observe all applicable legal requirements in the UK and/or in the jurisdiction(s) in which he or it is situated. Any Recipient who is not a relevant person should return this document to the Company and should not act upon it. 11. This Document should not be considered as a recommendation by any of the Relevant Parties to invest in the Company, and recipients interested in investing in the Company are recommended to seek their own independent financial, legal and other advice from persons authorised and specialising, as necessary, in investments of the kind in question. Recipients should be aware that any investment activity may expose them to a risk of losing the property invested. 12. Recipients of this Document in jurisdictions outside the UK should inform themselves about and observe all applicable legal requirements in their jurisdictions. In particular, the distribution of this Document in certain jurisdictions may be restricted by law and, accordingly, recipients represent that they are able to receive this Document without contravention of any unfulfilled registration requirements or other legal restrictions in the jurisdiction in which they reside or conduct business. Helium One AGM Presentation – December 2024
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T ransformational Y ear for Company Strategic progress as a helium player •Declaration of Tanzania’sfirst helium discovery •Successfully flowed continuous helium to surface at 5.5% during testing, and a maximum of 7.9% helium •Completed required feasibility and ESIA study •Successfully submitted Mining Licence application to the Government of Tanzania to develop the southern Rukwa Helium Project •Successful acquisition of 50% stake in Blue Star Helium’s Galactica-Pegasus helium and CO2 project in Colorado, USA with development drilling to commence in Q1 2025 3Helium One AGM Presentation – December 2024 Tanzania’s first helium discovery - 2024
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Company Progress Over Past 12 Months 4 2024 pathway to discovery and commercialisation 2024 2025 DRILLED ITW-1 January SUCCESSFUL EWT AT ITW-1 UP TO 7.6% HELIUM August COMMENCEMENT OF DEEPENING ITW-1 July GALACTICA-PEGASUS DEVELOPMENT DRILLING January/FebruaryCOMMENCEMENT OF ESIA STUDIY April Helium One AGM Presentation – December 2024 ITW-1 DST FLOWS 4.7% HELIUM February COMMENCEMENT OF PRODUCTION FACILITY STUDY April ACQUISITION OF GALACTICA-PEGASUS PROJECT IN USA August SUBMISSION OF ML APPLICATION (FEASIBILITY STUDY & ESIA)* September COMPLETION OF FARM-IN NovemberSUSTAINED HELIUM FLOW OF 5.5% TO SURFACE DURING EWT September Q1 Q2 Q3 Q4 Q1 *Planning for first gas from Southern Rukwa Helium Project 12 months from award of ML by Government of Tanzania 2025 LOOKAHEAD…. • Development drilling in USA • Cash flow from USA H1 2025 • Award of ML • Independent CPR on southern Rukwa Helium Project
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5 Helium One AGM Presentation – December 2024 Southern Rukwa Helium Project Eyasi Project High Grade Helium Projects Across T wo Continents Appraisal and development in T anzania 1,372 km2 Secured Licenses across two distinct helium provinces in Tanzania 5.5% helium Sustained flow to surface from southern Rukwa Helium Project 2024 Company declared Tanzania’s first helium discovery from Itumbula West-1 well Drilling Rig Company owned and currently warm stacked. Potential for revenue generation Epiroc Predator drilling rig at ITW-1 wellsite in Southern Rukwa (2024) Lake Eyasi Lake Rukwa
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High Grade Helium Projects Across T wo Continents 6 Development and near-term cash flow in USA Helium One AGM Presentation – December 2024 Galactica-Pegasus Helium Project 2% He 2.1% He 2% He 4-6% He State - 16 3.1% He JXSN#3 JXSN#1 JXSN#2 JXSN#4 Red Rocks Helium Project 6% He Galactica Processing Plant 50% stake Company secured 50% stake in helium and CO2 development project in Colorado, USA 6% helium Confirmed Colorado discovery wells flowed up to 6% helium Cash flow Expected H1 2025 246 km2 Licensed area for helium development and production in 2025
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Southern Rukwa Helium Project 7 Globally unique helium development • Well test operations in August 2024 at ITW-1 successfully flowed sustained concentrations at 5.5% helium and up to 7.9% helium from the faulted Karoo and fractured Basement • This is a globally significant project and; is not associated with hydrocarbons,nor associated with CO2 or H2S and can be considered a green resource in a pure helium play Southern Rukwa Helium Project Helium Concentrations of Global Projects • Fractured Basement interval flowed naturally for a period of six days with helium gas in solution, in what has been determined to be a pure helium/nitrogen mix • Mining License submitted in September 2024, alongside Feasibility and ESIA Study • Focused on appraising and developing the southern Rukwa Helium Project through to monetisation Established production (associated with hydrocarbons) Growth of new emerging helium sector Helium One AGM Presentation – December 2024 Well testing during EWT operations at ITW-1 (2024)
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Helium Discovery -Itumbula West-1 Well Gateway to success of southern Rukwa Helium Project • Well located 3km from Itumbula surface helium seep (up to 10.2% helium) • Change of well location following assimilation of data from the Tai wells • Planned to target fault and fracture play • Drilled to 1,129m MD and successful EWT performed in faulted Karoo and fractured Basement • Well flowed sustained helium of 5.5% and up to 7.9% helium to surface 8 Fractured Basement in outcrop, southern Rukwa Basin Helium One AGM Presentation – December 2024
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Forward Development Plan: Medium T erm 9 Pathway to commercialisation in southern Rukwa De- oxygenation Helium PSA* *Pressure Swing Adsorption Water removal Membrane Separation Tube Trailer Fig: Simplified Production Facility Plant • Initial modular containerised production facilities design completed by third party • FEED and detailed costing work to commence ahead of any construction • Final design and construction of the modular containers will commence once ML is awarded • Minimal on-site civils work required to facilitate wet and dry season operations • Site design will optimise tube trailer handling and loading Compression Example of a Tube Trailer for transporting 99.999% Helium Gas at ~4,000 psi Helium One AGM Presentation – December 2024
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Medical and Health Facilities Supporting Education Ongoing Community Engagement Focus on Longer Term Initiatives 2024 saw the completion of and upgrades to local village dispensary whereby women and children could benefit from a safe and secure building Ongoing support demonstrated with provision of new photocopier to local school to assist with ensuring each student has access to exam papers Ensuring that the local communities are well informed of our operational timeline and footprint is centric to our social responsibility When producing helium in solution, water management is going to be key and the Company is looking to support NGO led irrigation projects in region Environment, Social and Governance (ESG) Supporting communities in the southern Rukwa region 10Helium One AGM Presentation – December 2024
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Galactica P egasus Development Project, USA 11 Expanding global helium footprint Helium One AGM Presentation – December 2024 • Successful completion of farm-in to 50% of Blue Star Helium’s Galactica-Pegasus proven helium project in Colorado, USA covering 246 km2 • Confirmed discovery wells in the region have flowed up to 6% helium • Blue Star drilled State-16 development well which flowed 1.9% helium at 285 Mscf/day in addition to 70% CO2. Internal gross resource estimates, assuming a P50 helium concentration of 3%, are 675 MMscf • Upon completion of first six development wells, the sale of He and CO2 from these is expected to generate sufficient cash to fund the drilling and tie-back the remaining nine wells as the project is close to existing helium processing facilities, associated infrastructure and downstream users • Blue Star aim to have the project onstream and producing in H1 2025, with indications of $2 million per annum accruing to the Company over a period of five years and which could be more with additional cash flow from the CO2
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Financials 12 Summary Helium One AGM Presentation – December 2024 Fully funded at present level of activity and current circumstances for +/- 12 months Helium One share price and volume over the past 12 months •Loss for year – US$11m o Impairments – US$5.6m o Exchange movements - US$2.3m o G&A – 5% increase over prior year •Cash raises o December 2023 – US$7.7m ITW-1 o February – US$5.9m working capital o June – US$10.2m EWT o August – US$8.2m US project
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Next Steps for Helium One A diverse helium portfolio advancing towards production 13 Benefit from near- term cash flow from Galactica- Pegasus project in USA Focused on development of Southern Rukwa Helium Project post award of Mining Licence Remain the primary helium player in Tanzania Helium One AGM Presentation – December 2024 Strategic and opportunistic approach to business development Continue focus on project monetisation to benefit all stakeholders
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The primary helium company Contact us Email: info@helium-one.com Telephone: +44 (0) 20 3978 5320 LSE AIM: HE1 helium-one.com
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Helium Market Outlook 15 Helium Uses and Demand • No market price for helium; contract (1-7 years) driven and trades in US$ at wholesale level • Major helium distributors/off-takers sell to end users for retail gas markets or local gas companies • Spot pricing much higher with current spot price for bulk liquid helium at US$700 - US$950/mscf* (no publicly available pricing information) ComputingSpace Exploration Modified from Kornbluth Helium Consulting • Rocket Purging • Leak Detection • Data Centres • Quantum Computing • MRI Scanners • Assisted Breathing Electronics • Semi-Conductors • Fibre-Optics Medical Electronics • Welding • Leak Testing Industrial Artificial Intelligence 6.6 Bcf global demand for helium worth US$7 billion • Lowest boiling point of any gas (-269°C); used as a coolant • High thermal conductivity; essential for semi-conductors and AI • Smallest molecular size; purging and leak detection • Faster Performance *Kornbluth Consulting, 2023 Helium Pricing T rends Helium One AGM Presentation – December 2024
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Board of Directors and Management Highly Experienced T eam with Africa Experience, Focused on Delivering Success 16 JAMES SMITH Non-Executive Chairman Former CEO and CFO of Orca Energy with 35 years of experience in successfully growing companies through a clear focus on cash generation NIGELFRIEND Non-Executive Director LORNA BLAISSE Chief Executive Officer 20+ years of experience in investment banking and as Nomad / Broker at Cantor Fitzgerald, RFC Ambrian, FinnCap Ltd and RBC Capital Markets 30+ years of experience as a senior oil and gas executive. Has held senior positions at Chevron Corporation, Pan- Ocean Energy and as VP Exploration at Orca Exploration A Technical Engineering and Operations Manager with 17 years experience working on remote projects globally, including Southern and Eastern Africa Financial Executive based in Tanzania with 16 years experience in senior positions across East & Southern Africa. Previously Finance Director for Tata East Africa region & Financial Controller for Traxys Skilled explorationist with over 18 years oil and gas experience in Africa. Led exploration drilling projects in East and Central Africa, with extensive geological knowledge of the East Africa Rift System SARAH COPE Senior Independent Non-ExecutiveDirector CHRIS EYRE Chief Financial Officer MIKE WILLIAMS Director of Operations GRAHAMJACOBS Finance & Commercial Director Experienced financial and commercial executive with over 30 years of experience in the natural resources sector. He has extensive expertise in the oil and gas industry Helium One AGM Presentation – December 2024