Slide 1: Developing Canada’s Critical Helium Supply
Developing Canada’s Critical Helium Supply Corporate Presentation April 2026 TSXV: HEVI
Slide 2: Reader Notice: Forward-looking Statements
READER NOTICE Forward-looking Statements Certain statements contained in this corporate presentation may constitute forward-looking information and statements, including "future-oriented financial information" and "financial outlook", under applicable securities laws. All statements in this corporat
Slide 3: Why Helium Evolution
WHY HELIUM EVOLUTION Rare Basin-Scale Strategic Partners in Proven Commercial Helium Exposure a Constrained Development Model Market Scale. Infrastructure. Execution. TSXV: HEVI | 3
Slide 4: Helium: A Structurally Constrained Market
HELIUM: A Structurally Constrained Market ~34% of global helium supply currently disrupted (Qatar) Canadian spot prices doubled in March Supply remains structurally impaired for 3-5 years USD $450/mcf (USD) plant gate used in project economics $450/mcf (USD) plant gate used in project economics Sour
Slide 5: Rare Basin-Scale Helium Exposure
RARE BASIN-SCALE HELIUM EXPOSURE Development corridor is 1.6x size of Belgium HEVI controls >3 Million acres within proven helium fairway Extensive seismic-defined helium targets across HEVI lands TARGET AREA Deep well tests NAH land NAH wells Producing He pools TSXV: HEVI | 5
Slide 6: Proven Commercial Helium Basin
PROVEN COMMERCIAL HELIUM BASIN >$500MM USD invested and committed validating commercial helium development¹ >125 wells drilled validating commercial model¹ 10 helium processing facilities now in operation Proposed $100MM Liquefaction Plant TSXV: HEVI | 6
Slide 7: Development Analog: Battle Creek, SK
DEVELOPMENT ANALOG: Battle Creek, SK Commercial helium development within same fairway ~22 MMcf/d raw gas processing facility ~$24MM/yr gross revenue @ $450/mcf (USD, plant gate) ¹ ¹ Based on HEVI internal estimates and public data available on Accumap TSXV: HEVI | 7
Slide 8: Battle Creek: Illustrative Project Economics
BATTLE CREEK: Illustrative Project Economics¹ ¹ Based on HEVI assumptions of helium content, operating costs, royalties, capital costs, leverage, pricing, recovery factor, etc. Helium pricing assumed constant over life of project. TSXV: HEVI | 8
Slide 9: HEVI Positioning: Same Development Fairway
HEVI POSITIONING: Same Development Fairway 51% / 49% NAH-HEVI partnership at Grasslands ~44,000-acre 3D seismic program completed March 12ᵗʰ; interpretation underway Direct access to $17MM Soda Lake processing facility (20% HEVI interest) Discovery wells Discovery well Soda Lake Plant – October 2025
Slide 10: 2026-2027 Grasslands Development Plan
2026-2027 GRASSLANDS DEVELOPMENT PLAN 3D seismic processing & interpretation summer 2026 3+ well drilling program begins Q4-2026 Well tie-ins to Soda Lake facility first half 2027 Source: NAH; eVibe seismic unit – minimal environmental disturbance Source: North American Helium TSXV: HEVI | 10
Slide 11: Grasslands: Project Economics (Half-Cycle)
GRASSLANDS: Project Economics (Half-Cycle)¹ ¹ Based on HEVI assumptions of helium content, operating costs, royalties, capital costs, leverage, pricing, recovery factor, exchange rates etc. Helium pricing assumed constant over life of project. TSXV: HEVI | 11
Slide 12: Compelling Valuation Relative to Asset Base
COMPELLING VALUATION RELATIVE TO ASSET BASE Market Capitalization 160 miles (USD) Abbey $23MM Less: Cash ($2MM) Less: Seismic ($2MM) 120 miles Fox Less: Plant ($3MM) 3 MM Acres Less: Wells ($6MM) Glenbain Implied Land Value Val Marie Mankota $10MM Grasslands IMPLIED LAND VALUE: <$4/acre Notes: Marke
Slide 13: Grasslands Single Project Sensitivity Table
GRASSLANDS SINGLE PROJECT SENSITIVITY TABLE Base-case economics already attractive at $450/mcf (USD) Higher helium prices materially increase NPVs Market dynamics continue to support price upside ¹ Based on HEVI assumptions of operating costs, royalties, margin, exchange rates, capital, leverage, pr
Slide 14: Helium Anomalies: Exploration Upside
HELIUM ANOMOLIES: Exploration Upside Sparse well data: ~1 Saskatchewan well per 150,000 acres government mapping 125+ wells in last 5 years 100% correlation to helium discoveries Geophysically Robust prospect driven plays portfolio Acquired >3,000 km of seismic >100 Sawatsky anomalies including temp
Slide 15: Proven Commercial Helium Basin
PROVEN COMMERCIAL HELIUM BASIN >$500MM USD invested and committed validating commercial helium development¹ >125 wells drilled validating commercial model¹ 10 helium processing facilities now in operation Proposed $100MM Liquefaction Plant ¹ Based on HEVI internal estimates and public data available
Slide 16: Strategic Positioning in a Constrained Market
STRATEGIC POSITIONING IN A CONSTRAINED MARKET Partnered with North American Helium – proven basin operator Saskatchewan – top tier, pro-development jurisdiction Access to U.S. industrial demand and Asia-Pacific export markets ENEOS Xplora (Japan) – 42% strategic shareholder Future Saskatchewan lique
Slide 17: Why Helium Evolution
WHY HELIUM EVOLUTION Rare Basin-Scale Strategic Partners in Proven Commercial Helium Exposure a Constrained Development Model Market Scale. Infrastructure. Execution. TSXV: HEVI | 3
Slide 18: Appendix
& HELIUM EVOLUTION Appendix CORPORATE PRESENTATION
Slide 19: Capital Structure & Leadership
CAPITAL STRUCTURE & LEADERSHIP HEVI Share Capitalization @ Mar 26, 2026 Management Board of Directors Total Basic Shares Outstanding 163,013,796 Malcolm Adams James P. Baker* President, CEO & Director Chairman Options (avg. exercise price $0.27/share) 10,943,550 Patrick Mills*, P. Eng Micheal Graham
Slide 20: Experienced Leadership
EXPERIENCED LEADERSHIP Extensive resource development expertise with a history of success in Saskatchewan Malcolm Adams, P.Eng, ICD.D John Kanderka, Co-Founder President & Chief Executive Officer, and Director VP, Land & Corporate Development Management Nearly 30 years of Canadian energy sector expe
Slide 21: Developing Canada’s Critical Helium Supply
Developing Canada’s Critical Helium Supply Corporate Presentation April 2026 Contact info@heliumevolution.ca TSXV : HEVI