Gold Hydrogen Ltd. · ASX:GHY
Gold Hydrogen — Investor Presentation (May 2026)
40 slides from Gold Hydrogen's investor presentation, May 28, 2026
Slide 1: Shareholder & Investor Update
For personal use only Shareholder & Investor Update Operations Committed and Commercial to Developing Naturally Occurring Hydrogen and Helium in Australia May 2026
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer This presentation is not a prospectus, disclosure document or offering document under Australian law or under any other law. This presentation contains “forward looking statements” concerning the financial condition, results of operations and business It is for informat
Slide 3: Executive Summary
Executive Summary Drilling Campaign Complete Ramsay 3 & 4 successfully drilled (Q4 2025). Natural Hydrogen and Helium detected, confirming strong correlation across all four Ramsay wells For personal use only Exceptional Gas Purities Up to 97% purity Natural Hydrogen (Parara Fm) and up to 36.9% Heli
Slide 4: Executive Summary – Natural Hydrogen and Helium
Executive Summary – Natural Hydrogen and Helium Title over certified Prospective Engagements to date with leading For personal use only Resources global experts and contractors 1.3 billion kg of Natural Hydrogen1 CSIRO, Schlumberger, Total Seismic, 41 Bcf of Helium1 Xcalibur, Savanna Energy Services
Slide 5: Gold Hydrogen – Corporate Snapshot
Gold Hydrogen – Corporate Snapshot Shares on Issue - 180.5 million Tenure Managing Director 38.5m shares 21.3% 1 granted Petroleum Licence – PEL 687 Ramsay Project For personal use only Strategic Investors 20.6m shares 11.6% 8 Petroleum Licence Application Areas Top 20 Shareholders 120.2m shares 66.
Slide 6: For personal use only
For personal use only 575 line km survey Gold Hydrogen Limited 6
Slide 7: What Do We Know Now That We Didn’t Know in 2023?
What Do We Know Now That We Didn’t Know in 2023? 1 World leading 2 Distinct stacked 3 MGC and ENEOS Xplora (GHY Strategic Investors) For personal use only Helium purities at Helium and capability and experience in extracting gas Ramsay including Natural Hydrogen dissolved in water lateral extension
Slide 8: Corporate Objectives and Strategy
Corporate Objectives and Strategy For personal use only Appraise Commercialise Assess Execution • Drill and test wells to • Screening and feasibility • Mature exploration • Maximise value to assess resource potential studies targets across existing shareholders • Demonstrate Natural • Green methanol
Slide 9: 2025 Ramsay Drilling and Flow Testing Campaign
For personal use only 2025 / 26 Ramsay Drilling and Flow Testing Campaign Committed to Developing Naturally Occurring Hydrogen and Helium in Australia
Slide 10: 2025 Ramsay Project Drilling and Testing Objectives
2025 / 26 Ramsay Project Drilling and Testing Objectives Assess the commercial potential of identified Hydrogen and Helium bearing reservoirs at the Ramsay Project Ramsay 3 & Ramsay 4 successfully drilled and prepared for flow testing For personal use only 2+1 drilling campaign – Ramsay 3, 4 & 5 ▸ A
Slide 11: 2025 Drilling Results & Upcoming Flow Testing
2025 Drilling Results & Upcoming Flow Testing • Excellent lateral correlation of target Natural Hydrogen and Helium formations between all Ramsay wells For personal use only • Wireline log interpretation supports favourable porosity, natural fracturing and fluid mobility characteristics • Flow test
Slide 12: 2026 Well Testing Program Objectives
2026 Well Testing Program Objectives CAMPAIGN OBJECTIVES TECHNICAL OBJECTIVES For personal use only MAXIMISE FLOW RATES NATURAL HYDROGEN TO SURFACE Maximise gross flow rates from Natural Hydrogen and Helium Demonstrate Natural Hydrogen flows to surface — in free- bearing zones. form from annulus, or
Slide 13: Well Testing at a Glance – Testing up to Three Wells
Well Testing at a Glance – Testing up to Three Wells Mob + FFP gate (12–18 Move Move Demob (Oct) For personal use only Jun) Ramsay 1 Ramsay 2 Ramsay 3 ~20 days | Jun – Jul ~30days | Jul – Aug ~60 days | Aug – Oct KEY OPERATIONAL FACTS 100 ~40 ~50 6 8 days workover / operational days days flow testin
Slide 14: Ramsay 1-3: Flow Testing Summary
Ramsay 1-3: Flow Testing Summary Well 1 Well 2 Well 3 Well Test Objectives For personal use only Gather commingled flow rate without completion Gather zonal flow rate and reservoirs parameters for Gather zonal flow rate and reservoirs parameters for constraints Contingent Resources booking Con
Slide 15: Gold Hydrogen Operational Strategy & Lookahead
Gold Hydrogen Operational Strategy & Lookahead Ramsay Flow Testing Ramsay Development Flow Testing Step Out Exploration 0-6 months For personal use only 0-3 months 0-12 months 0-24 months Strategy Strategy Strategy Assess commercial potential of identified Book Natural Hydrogen and Helium Contingent
Slide 16: Commercial Development Update
For personal use only Commercial Development Update Committed to Developing Naturally Occurring Hydrogen and Helium in Australia
Slide 17: Commercial Foundations in Place; Upcoming Flow Testing to Assess Upside
Commercial Foundations in Place; Upcoming Flow Testing to Assess Upside * Key Drivers: For personal use only Fluid Production rate; Ramsay 3 and 4 well designs allow for 20,000bbld ESP pump completion. Based on inhouse reservoir modelling, the upcoming flow test strategy will be focussed on maximisi
Slide 18: Potential Commercial Pathways - Strategic Summary
Potential Commercial Pathways - Strategic Summary 1 2 3 For personal use only Targeted 12–24 months Targeted 24–36 months Targeted 36–48 months SHORT TERM · Natural Hydrogen INTERMEDIATE · Helium LONG TERM · Natural Hydrogen → Green Methanol H₂ POWER GENERATION HELIUM SUPPLY GREEN METHANOL (Option A
Slide 19: Dissolved Helium and Natural Hydrogen Development Potential at Ramsay
Dissolved Helium and Natural Hydrogen Development Potential at Ramsay Technical Commercial Flow Testing Result For personal use only Matured from existing subsurface data 0-6 months inputs with material upside Conservative Assumed commercial metrics 1 Reservoir + Flow Rates Helium Value Hydrogen Fre
Slide 20: Existing Gas Dissolved in Water Projects – Strategic Investors
Existing Gas Dissolved in Water Projects – Strategic Investors For personal use only Mitsubishi Gas Chemical examples ENEOS Xplora examples Higashi-Niigata Oil & Gas Field Nakajo Oil & Gas Field, Niigata Discovered in 1951 — 70+ years of continuous dissolved gas Three reservoir types: non-associated
Slide 21: Proven Technologies: Dissolved Gas Extraction, Separation & Purification
Proven Technologies: Dissolved Gas Extraction, Separation & Purification 1 2 3 4 5 For personal use only Downhole Gas-Liquid Gas Helium Water Gold Hydrogen is: Pumping Separation Purification Liquefaction Reinjection 1. Applying proven Electric Submersible Dissolved gas releases Membrane separation
Slide 22: Commercially Proven Technology
Commercially Proven Technology Natural Hydrogen and Helium Extraction From Each Wellhead For personal use only Single well drilled intersecting both Helium and Natural Hydrogen zones, with selective extraction. Gold Hydrogen Limited 22
Slide 23: Commercial Helium and Hydrogen – Sample Global Projects
Commercial Helium and Hydrogen – Sample Global Projects HELIUM HYDROGEN Renergen — Virginia Gas Project In production since 2023 Hydroma Inc. — Bourakébougou Field In production since 2012 For personal use only Free State, South Africa Mali, West Africa He concentrations up to 12% from U/Th radioact
Slide 24: Commercial Summary - Helium
For personal use only Commercial Summary - Helium Committed to Developing Naturally Occurring Hydrogen and Helium in Australia Gold Hydrogen Limited 24
Slide 25: Australia’s Helium Supply Compromised
Australia’s Helium Supply Compromised Iran strikes on Qatar's Ras Laffan complex have removed roughly a third of global Helium supply. For personal use only 33% ~5 yrs 100% of global Helium below pre-war output Australian import-reliance produced at Qatar's Ras Laffan complex — struck and offline Qa
Slide 26: Worley Have Completed Commercial Models and Basis of Design
Worley Have Completed Commercial Models and Basis of Design Worley has defined the typical gaseous Helium production process in the diagram below to produce a compressed gaseous product to 99.999% He purity. This arrangement is based on typical requirements for gaseous Helium production and will req
Slide 27: Types of Hydrogen Production
Types of Hydrogen Production Naturally occurring Hydrogen offers significant cost and / or carbon advantages relative to other Hydrogen production (manufacturing) processes For personal use only Today, ~95% of all hydrogen produced is Gold Hydrogen is exploring for ‘gold’ or from natural gas ‘white’
Slide 28: Natural Hydrogen Gas to Truck – Trial Concept
Natural Hydrogen Gas to Truck – Trial Concept 1. Strategic Partner / GHY Fuel Cell Opportunity: is being assessed by For personal use only dedicated working group for execution during flow testing June 2026. 2. Flow Testing: to confirm rates and ‘free gas’ v gas dissolved in water’ or combination. 3
Slide 29: A Diesel Replacement Green Methanol Opportunity
A Diesel Replacement Green Methanol Opportunity For personal use only • Aiming to work with world leading methanol producers and distributors with over 7 MT Annual production. • Considering feasibility study to progress this opportunity. Not required with Natural Hydrogen • Design basis is a 300,000
Slide 30: Appendicies
For personal use only Appendicies Committed to Developing Naturally Occurring Hydrogen and Helium in Australia
Slide 31: Government Support Summary – Helium and Hydrogen
For personal use only Government Support Summary – Helium and Hydrogen Gold Hydrogen Limited 31 Ramsay 3 Drilling – November 2025
Slide 32: Government Support - Helium
Government Support - Helium Critical Minerals Reinstatement (Under Consideration) For personal use only Helium was removed from Australia's Critical Minerals List in December 2023. Reinstatement, prompted by Ras Laffan and accelerating AUKUS demand, if implemented, would unlock material Federal fund
Slide 33: Government Support - Hydrogen
Government Support - Hydrogen Unprecedented Support with Fuel Crisis in Australia For personal use only Australia's diesel crisis | April–May 2026 Diesel > 275¢/L; ~120 stations dry; food-price rises up to 50%. Australia consumes 92 ML diesel daily and is 50% Strait-of-Hormuz exposed. Green methanol
Slide 34: Technical Tables and Prospective Resource Tables
For personal use only Technical Tables and Prospective Resource Tables Gold Hydrogen Limited 34 Ramsay 3 Drilling – November 2025
Slide 35: Technical Tables – ASX Listing Rule 5.30
Technical Tables – ASX Listing Rule 5.30 For personal use only Gold Hydrogen Limited goldhydrogen.com.au | ASX:GHY | 35
Slide 36: Technical Tables – ASX Listing Rule 5.30
Technical Tables – ASX Listing Rule 5.30 For personal use only Gold Hydrogen Limited goldhydrogen.com.au | ASX:GHY | 36
Slide 37: Technical Tables – ASX Listing Rule 5.30
Technical Tables – ASX Listing Rule 5.30 For personal use only Gold Hydrogen Limited goldhydrogen.com.au | ASX:GHY | 37
Slide 38: Gold Hydrogen Prospective Resources (Using PRMS guidelines)
Gold Hydrogen Prospective Resources (Using PRMS guidelines) Certified Prospective Hydrogen Resources, existing discoveries and Certified Prospective Helium Resources, Ramsay Field drill ready hydrogen prospects (calculated volume not determined) (PEL 687 Yorke Peninsula) For personal use only Unrisk
Slide 39: Notes to Prospective Resource Tables
Notes to Prospective Resource Tables Prospective Resource Statement for Natural Hydrogen The 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 that may potentially be recovered
Slide 40: Notes to Prospective Resource Tables
Notes to Prospective Resource Tables Prospective Resource Statement for Helium The 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 may potentially be recovered by the application of a futur