First Helium Inc. · TSXV:HELI
First Helium — Investor Presentation (May 2025)
40 slides from First Helium's investor presentation, May 2025
Slide 1: Alberta Development Play: Shallow Heavy Oil & Helium-Enriched Natural Gas
ALBERTA DEVELOPMENT PLAY SHALLOW HEAVY OIL & TSX-V: HELI HELIUM-ENRICHED NATURAL GAS OTCQB: FHELF FRA: 2MC MAY 2025 CORPORATE PRESENTATION
Slide 2: Cautionary Notes & Forward Looking Statements
CAUTIONARY NOTES & FORWARD LOOKING STATEMENTS The information contained herein has been prepared to assist interested parties in making their own evaluation of First Helium Inc. (“First Helium” or the “Company”) and does not purport to contain all of the information that a prospective investor or pa
Slide 3: Future Oriented Financial Information
FUTURE ORIENTED FINANCIAL INFORMATION FUTURE ORIENTED FINANCIAL INFORMATION This presentation may contain future oriented financial information (“FOFI”) within the meaning of applicable Canadian securities laws and applicable United States securities laws, about prospective results of operations, pr
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS High Quality, Valuable Property Package – One of the Better Plays ➢ Exposure to Helium, Natural Gas and Oil Revenue Streams – mitigates risk, enhances value ➢ Independently Evaluated Helium Resource w/ Large Drill Target Inventory – become meaningful Helium supplier ➢ Indicativ
Slide 5: Attractive Valuation
ATTRACTIVE VALUATION Helium Well “15-25” Independent Evaluation1 , Un-risked Best Estimate Contingent Resource Potential $17.6 MM NPV102 @ Helium $C 500/mcf “5-27” Horizontal Helium/Natural Gas Well to be Completed and Tested – Potential Upside NPV102 $8.3 MM West Worsley “Blue Ridge” Helium/Natural
Slide 6: High Quality Property Package
HIGH QUALITY PROPERTY PACKAGE ➢ 53,000 Acres (~83 Sq. Miles) Core Project, 100%-Owned ➢ Large helium resource, independently evaluated ➢ Multi-zone drilling for helium, natural gas & oil – mitigates risk ➢ Large inventory of drilling locations Units Referred to Throughout Document mcf = thousand cub
Slide 7: Project Highlights
PROJECT HIGHLIGHTS HIGHLY SCALEABLE – THREE PLAYS ➢Shallow Heavy Oil - Recent discovery sets up for regional development, growth and cash flow. ➢Blue Ridge Helium/Natural Gas - Successful testing of 5-27 at West Worsley adds 30+ horizontal drill locations, new well test confirms potential play exten
Slide 8: Worsley – Exposure to Multi-Zone Production
Worsley – Exposure to Multi-Zone Production • Established, historical multi-zone Production Zones Dunvegan: producing area based on key operated Mannville Gething/Bluesky, etc: wells - Gas & Oil. Charlie Lake: Montney: • Map highlights primary productive Shallower Wabamun: Helium zones. Producing we
Slide 9: Shallow Heavy Oil - Charlie Lake Multi-Leg Horizontal Opportunity
SHALLOW HEAVY OIL - Charlie Lake Multi-Leg Horizontal Opportunity Potential Area Development CHARLIE LAKE ATTRIBUTES Recent Drill 7-30 • Rock Type: Slightly Sandy Dolomite Play - Keys off Recent Drilling • Depth: 900-975 m Tested 50 bbls Oil Over Results at 7-30 & 7-15 • Oil: 12-16 Degrees API 2 Cal
Slide 10: Comparative Well Logs – Charlie Lake 7-30 & 1-30 Wells
COMPARATIVE WELL LOGS – CHARLIE LAKE 7-30 & 1-30 WELLS 7-30-87-2W6 Logs 1-30-87-2W6 Logs • Identical Charlie Lake 2.5 m Dolomite Resistivity: 2.6 m Dolomite Resistivity: 4 Ohm/m ** Wells, ½ Mile Porosity: >21%** 4 Ohm/m ** Porosity: >21% ** Apart Nordegg Nordegg • Shown at Perf (-185.1m SS) (-184.4m
Slide 11: Shallow Heavy Oil: Charlie Lake Multi-Leg Horizontal Opportunity
SHALLOW HEAVY OIL Charlie Lake Multi-Leg Horizontal Opportunity Indicative Play Parameters 180 WTI Oil Price $60 $65 $70 $75 $80 Horizontal Type Well - First 3 Years $US/bbl 160 Base Case - $US 70/bbl IRR % 53.4 74.4 97.7 122.4 147.3 140 • IRR 97.7% • Payback 1 Year Payback - Years 1.5 1.2 1.0 0.9 0
Slide 12: First Mover – Northern Alberta Helium Natural Gas Play
FIRST MOVER – NORTHERN ALBERTA HELIUM NATURAL GAS PLAY 6 Miles Approx. 10 Km Blue Ridge and Leduc INCREASING HELIUM CONTENT % 1.88% He 1.88% He WEST 26 BCF 26 BCF 46 BCF WORSLEY 22 BCF 15-25 0.62% He 0.60% He 1.04% He 1.22% He 1.32% Helium 7-28 Blue Ridge 1.71% He 0.88% Helium WORSLEY 7-30 Shallow 2
Slide 13: Economics of the 15-25 Helium Well – Template for Growth
ECONOMICS OF THE “15-25” HELIUM WELL – TEMPLATE FOR GROWTH $ Canadian Unless Otherwise Shown Why We Like Helium Enriched Gas: ~ 3x the cash flow of a typical natural gas well !! CURRENT HELIUM MARKET Helium Price $C / mcf $500 Natural Gas Producers1 (No Helium) Revenue per mcf of Produced Gas2 $8.94
Slide 14: Worsley Blue Ridge Regional Play
Re-Complete & Test Existing 1-30 Vertical Well – Worsley Blue Ridge Success Sets Up Immediate Area Development Regional Play Horizontal Well Area Wells with Blue Development: Ridge Production 14 Primary, 17 Follow-up Complete & Test Locations Existing Horizontal Well in West – Sets Up Regional, Repe
Slide 15: West Worsley Blue Ridge Development Scenario
West Worsley Blue Ridge Development Scenario • Successful Completion & Testing of Existing Horizontal Offset Vertical 5-27 Well Initiates West Worsley Development of Helium Blueridge Wells 0.74 BCF Enriched Natural Gas Play 2.9 mbo Helium: 0.88% • West Worsley “Upside” Revenue Estimate ~ $70 - $80 H
Slide 16: Worsley Project Area Scalability – Helium Enriched Natural Gas
WORSLEY PROJECT AREA SCALABILITY – HELIUM ENRICHED NATURAL GAS One Vertical West Worsley Total Project Project Scale – Indicative Economics Well (Existing Repeatable Drill “Blue Vertical + Helium & Natural Gas Only “15-25”)3 Ridge” Project2 Horizontal Helium Price ($C / mcf) $500 $500 $500 Total Dri
Slide 17: Path Forward
PATH FORWARD Q2/’25 – Q3/’25 Q3/’25 – Q4/’25+ 2025 - 2028+ Facility Target (3-5 March 2025 Financing Financing Years) Project & Inventory Four Key Operations Build Helium Established • Located on 53,000 • Bring 7-30 heavy oil Processing Facility Helium Producer Acres,100% Owned well into production,
Slide 18: Next Steps
NEXT STEPS | 12 Months Immediate Activities Next Activities Develop shallow heavy oil area development Evaluate Potential plan. Partnership/Acquisition ➢ Bring 7-30 shallow heavy oil well into Opportunities to Facilitate production and access 7-15 to evaluate Development of Assets. ➢ Drill horizonal
Slide 19: Thank You
THANK YOU Contact us for more information on this investment opportunity! FIRST HELIUM INC. Corporate Office Suite 550, 800 West Pender Street Vancouver B.C. V6C 2V6 Canada Head Office Suite 1225, 635 Eighth Avenue SW Calgary, AB T2P 3M3 Canada Email: ir@firsthelium.com Toll-Free: (833) HELIUM-1 (83
Slide 20: Appendix
APPENDIX Table of Contents: Share Capitalization 21 Management & Directors 22 - 23 Helium “101” 24 - 31 Worsley Project – Additional Information 32 - 37
Slide 21: Share Capitalization
SHARE CAPITALIZATION COMMON SHARES OUTSTANDING AS AT April 1, 2025 Stock Symbol: TSXV - ”HELI” & OTCQB - “FHELF” Basic 213.9 (MM) Options (Wtd. Avg. Exercise Price $0.20) 13.8 (MM) Warrants (Wtd. Avg. Ex. Price $0.08, Proceeds $10.5 MM) 127.5 (MM) Fully-Diluted 355.2 (MM) Management, Directors, Advi
Slide 22: Corporate Bench Depth
CORPORATE BENCH DEPTH First Helium boasts a seasoned management team, board and advisory group with successful track records and experience in oil and gas exploration and production, capital markets and finance, helium project development, construction and project management, and mining exploration
Slide 23: Independent Directors
INDEPENDENT DIRECTORS Todd Holmstrom Cal Watson B. Sc. P. Eng. 33+ years in leadership roles in Oil & Gas, 35 years Oil and Gas experience Mining, Wireless Communications, and Medical Devices ● Multiple roles across Operations, Production, and Reservoir Engineering, Gas ● Held the position of Presid
Slide 24: Helium: Unique, Rare and Valuable
HELIUM: UNIQUE, RARE AND VALUABLE Helium is essential in modern high-tech, medical, scientific and industrial applications because of its exceptional physical properties. There are a lack of substitutes for helium in many applications. QUICK DIFFUSION SMALL MOLECULAR SIZE NON-TOXIC ULTRA-HIGH Helium
Slide 25: Why Helium?
WHY HELIUM? GLOBAL DEMAND 6 bcf/year Source: Akap Energy Ltd.2 Global Helium Market to Grow 300% by 2030 $3.94 Billion (2021) - $13.26 Billion (2030) $US1 Global Market Prices for Helium have Increased! ● Global Helium Import Prices have grown over 53% from ~$US 310 per mcf in January 2020 to over $
Slide 26: Market Fundamentals
MARKET FUNDAMENTALS HELIUM DEMAND USES Big technology companies like Amazon, Google, Facebook, NVIDIA and Netflix all depend on this one gas to keep their servers up and running around the clock. Helium has everyday applications in the tech and medical industries as well as space travel and national
Slide 27: Helium Market Opportunity – Supply Issues
HELIUM MARKET OPPORTUNITY – SUPPLY ISSUES GLOBAL - helium supply issues and geopolitical uncertainty ● Qatar, Algeria and Russia are major suppliers 3 ● Russia Amur Plant start-up issues and war related trade sanctions have delayed new supply2 ● Ongoing regional supply disruptions and flow of helium
Slide 28: A Common Yet Finite Resource
A COMMON YET FINITE RESOURCE Helium is the second most prevalent element in the universe, but relatively uncommon on Earth. However, helium is very difficult to trap and store – due to its lack of density, it quickly rises and dissipates into the atmosphere. The majority of atmospheric helium is los
Slide 29: Market Fundamentals of Helium
MARKET FUNDAMENTALS OF HELIUM GLOBAL PRODUCTION OF HELIUM | 2022 Global helium production summary by Country1: CRITICAL MINERAL | Helium has been identified as a critical removeechart chare Million m 3 Billion ft3 mineral by Canada and Europe. It is receiving renewed attention by the US Government a
Slide 30: Economics of Helium vs Natural Gas
ECONOMICS OF HELIUM VS NATURAL GAS SUPPLY & DEMAND | Certain considerations will continue to drive the global supply demand balance for helium. ● Demand expected to grow from 6 Bcf per year by ~8% through 2026 ● Additional supply from Russia subject to technical issues and geopolitical uncertainty ●
Slide 31: Market Fundamentals of Helium - Helium Grading System
MARKET FUNDAMENTALS OF HELIUM - Helium Grading System1 Grade 6 (99.9999% Purity) The closest to 100% pure helium, 6.0 helium is used in the manufacturing of semiconductor chips. It’s also “6 Nines” used in laboratories for scientific research, laser cutting, MRI machines, and as a carrier gas in gas
Slide 32: Worsley Area Exploration
WORSLEY AREA EXPLORATION ● Historically active region for hydrocarbon exploration and development ● Multi-commodity presence enhances value proposition and mitigates helium exploration risk ● In late 1990’s, discovery of high-nitrogen, helium-rich natural gas, which did not meet sales pipeline speci
Slide 33: Worsley Helium Project
WORSLEY HELIUM PROJECT HELIUM DISCOVERY WELL “15-25” UNDERPINS PROJECT DEVELOPMENT ● Ready to produce helium gas, pending installation of scalable, modular, processing facility. ● Independent Resource Evaluation – 323 mmcf Helium, 12.6 Bcf Natural Gas, 372 mbbls NGL’s. SCALABLE DEVELOPMENT ON ADJACE
Slide 34: First Helium Contingent Resources Report – 15-25 Discovery Well
FIRST HELIUM CONTINGENT RESOURCES REPORT | “15 - 25” Discovery Well Prepared by Sproule Associates Ltd. March 31, 2021¹ Sensitivity to Helium Pricing VOLUMES NPV 10% Helium Natural Gas Natural Gas Liquids $300/mcf $340/mcf $400/mcf $500/mcf $600/mcf mmcf mmcf mbbl $MM $MM $MM $MM $MM 323 12,632 372
Slide 35: Worsley Area Reef Trend
WORSLEY AREA REEF TREND ● Deep-seated Faulting within the LOWER BANFF Basement ● Reef Build-up Associated with Faulting and Pre-existing High WABAMUN ● Hydrothermal Fluids Creating He Dolomite around Fault Conduits He NISKU IRETON ● Helium Generated in the Basement and Migrated through Existing Faul
Slide 36: 5-27 Horizontal Well Helium Target – West Worsley
“5-27” HORIZONTAL WELL HELIUM ● “5-27” Well successfully drilled TARGET – WEST WORSLEY and cased August 2022 (Prior ID “14-23”) ● Strategically targets reservoir 0.83% He First Helium 0.88% He with known historical natural Produced 5-27 Horizontal Produced gas production and helium 0.6 Bcf Natural W
Slide 37: Blue Ridge Forecast Well Economics
Blue Ridge Forecast Well Economics Forecast Production & Economics Existing 5-27 Blue Ridge Horizontal Well Capex - Completion, Equip. & Tie-in ($M) 1,400 5-27 Blueridge Horizontal Gas Production vs Time 4000 Before Tax Rate of Return 181.7% Raw Gas Production mcf/d 3500 IP: 3,000 mcf/d Raw Gas EUR
Slide 38: Risk Factors
RISK FACTORS Readers should carefully consider the risks and uncertainties described below and in First Helium’s Final Prospectus dated June 28, 2021, filed on First Helium’s SEDAR profile at www.sedar.com before deciding whether to invest in First Helium’s securities. These risk factors do not nece
Slide 39: Risk Factors
RISK FACTORS There is no assurance that further commercial quantities of helium, natural gas or oil will be discovered or acquired by First Helium. Helium, natural gas and oil exploration, development and production operations are subject to all the risks and hazards typically associated with such o
Slide 40: Risk Factors
RISK FACTORS Reliance on key personnel The success of First Helium will depend in large measure on certain key personnel and management. The loss of the services of such key personnel could have a material adverse effect on First Helium. The competition for qualified personnel in the helium, natural