Blue Star Helium Limited · ASX:BNL
Blue Star Helium — Investor Presentation (August 2026)
25 slides from Blue Star Helium's investor presentation, Aug 18, 2026
Slide 1: Investor Presentation and Webinar (ASX Announcement)
ASX ANNOUNCEMENT 18 August 2026 INVESTOR PRESENTATION AND WEBINAR Highlights • Blue Star has released an updated investor presentation, attached to this announcement. • Managing Director and CEO Trent Spry will present the presentation in a webinar at 11:00am AEST (9:00am AWST) on Thursday, 20 Augus
Slide 2: Corporate Presentation August 2026: Produce. Sell. Repeat.
ASX: BNL OTC: BSNLF Corporate Presentation | August 2026 Produce. Sell. Repeat. High-grade helium and CO₂ from Las Animas County, Colorado Helium production and sales (Galactica) New helium development (Pegasus) CO₂ revenue stream in development Large resource portfolio upside
Slide 3: Disclaimer and Important Information
THE DISCLAIMER ASX: BNL OTC: BSNLF Disclaimer and Important Information. This presentation has been prepared by Blue Star Helium Limited (ACN 009 230 835) (BNL, Blue Star or the Company) as at 16 August 2026 and statements Company). In particular, no representation, warranty or assurance (express or
Slide 4: The Thesis
THE THESIS ASX: BNL OTC: BSNLF One plant is proof. The next three are the point. PROVEN PLANNED SCALABLE Galactica: Galactica: Galactica-Pegasus: • Producing helium now • 3 more wells in 2026 • Up to 4 plants to develop existing resource (50k acres) • Selling it under offtake • 6 additional wells in
Slide 5: The Proof
THE PROOF ASX: BNL OTC: BSNLF Galactica Project - Helium is being produced and sold now - proven. Six wells on production and the Pinon Canyon Plant in stable operation First sales commenced July 2026 with regular trailer exchanges as Blue Star begins to scale up production Fixed-price offtake agree
Slide 6: The Template
THE TEMPLATE ASX: BNL OTC: BSNLF Pinon Canyon is a repeatable template: leased equipment, low opex, two products. Repeatable by design: leased major equipment (helium recovery unit, amine ILLUSTRATIVE REVENUE SCENARIOS unit, compression) means low upfront capital and procurement we can run (SINGLE P
Slide 7: The Plan
THE PLAN ASX: BNL OTC: BSNLF The Galactica development Stage 1 complete ramp-up underway. H2 2026 2027 2028+ RAMP-UP AND GROWTH DRILLING BUILD CAPACITY, BEGIN THE REPEAT SUSTAIN AND SCALE • Three new development wells (permitting • Six further development wells at Galactica; • Maintenance drilling s
Slide 8: The Repeat
THE REPEAT ASX: BNL OTC: BSNLF Pegasus starts the second turn of the template in 2027. • Drilled discoveries at Pegasus: JXSN #2 (3.1% He, tested at 202 Mcfd) and JXSN #4 (up to 6% He, 412 Mcfd) • First Pegasus development wells planned from 2027, subject to adoption of the JV work program and fundi
Slide 9: The Growth
THE GROWTH ASX: BNL OTC: BSNLF Large gross acreage position with strong prospective resource potential. • Large existing lease portfolio across established plays in BNL LAS ANIMAS LEASEHOLD the broader Las Animas acreage Circa 276,355 Gross Acres • Historic regional exploration success, with multipl
Slide 10: The Upcoming Events
THE UPCOMING EVENTS ASX: BNL OTC: BSNLF The next twelve months carry a defined sequence of milestones. • CO₂ commercial arrangements, and with them Jackson 27 tie-in and first CO₂ sales • Long-term helium offtake portfolio • Drilling of three new development wells at Galactica, permitting underway •
Slide 11: Building a Multi-Plant U.S. Helium and CO2 Producer
BUILDING A MULTI-PLANT U.S. HELIUM AND CO2 PRODUCER ASX: BNL OTC: BSNLF Supported by JV Partner BEYOND Helium One Global EXPLORATION UPSIDE PLUS CO2 REVENUE STREAM AND ADDITIONAL PLANT/S NEXT NOW PEGASUS AND OUR P TO F GALACTICA / ADDITIONAL PLANT/S U PP O RT U 4 CES S OUR PRODUCING AND DEFIN ED R E
Slide 12: The Company
THE COMPANY ASX: BNL OTC: BSNLF An industrial gas team running an independent helium producer, generating revenue. Capital Structure Board & Management Share price (ASX close, 17 August 2026) 0.5¢ Neil Rinaldi - Non-Executive Chairman Shares on Issue 6,153M Executive leader and finance professional
Slide 13: Contact Us
12 ASX:BNL CONTACT US CONTACT US Trent Spry Managing Director & CEO info@bluestarhelium.com For further information visit: www.bluestarhelium.com ASX: BNL OTC: BSNLF
Slide 14: Appendices
BLUE STAR | HELIUM
Slide 15: Strategic Asset Portfolio in Colorado
APPENDIX ASX: BNL S T R AT EG IC A S S ET P O R T FO L IO IN C O L O R A D O OTC: BSNLF P rem iu m h eliu m an d C O 2 assets lo cated in th e h eart o f th e larg est m arkets in th e wo rld • Our Las Animas acreage represents a high-quality, multi- commodity gas development opportunity to supply c
Slide 16: The Market
APPENDIX ASX: BNL OTC: BSNLF The Market Structurally short markets in both products, with supply concentrated offshore. HELIUM CARBON DIOXIDE • Production declining ~2-3% p.a. against demand growth of ~6% • US merchant demand ~10.4 million tons per year, growing 3.6–5.0% CAGR, to 8.7 Bcf in 2030 fro
Slide 17: Galactica Development
APPENDIX ASX: BNL OTC: BSNLF Galactica Development. Pinon Canyon Plant: Blue Star’s first helium & CO2 processing hub. From drilling campaign to producing wells in under 18 months. • Six-well development drilling program completed in H1 2025, alongside the earlier State 16 well, returning consistent
Slide 18: Galactica Development
APPENDIX ASX: BNL OTC: BSNLF Galactica Development. Helium production and sales with stabilised plant operations, and commercial discussions for co-produced CO₂ continuing. Operating Status NAMEPLATE PLANT METRICS & PRODUCTION PROFILE • Plant sized to process up to 4.2 MMscfd of raw gas • Six wells
Slide 19: Galactica Development
APPENDIX ASX: BNL OTC: BSNLF Galactica Development. Pinon Canyon is a repeatable template: leased equipment, low opex, two products. • Leased major equipment (helium recovery unit, amine unit, compression), ILLUSTRATIVE REVENUE - SINGLE PLANT AT FULL NAMEPLATE low upfront capital, repeatable procure
Slide 20: The Galactica Helium & CO2 Development
APPENDIX ASX: BNL OTC: BSNLF The Galactica Helium & CO2 Development. Plan of development schematic. 19
Slide 21: Marketing Strategy
APPENDIX ASX: BNL OTC: BSNLF Marketing Strategy Long-term offtake discussions across the value chain are underway. Helium Refining & Supply Chain. • Develop geographically diverse portfolio of high-quality projects • Develop operating partners across the entire supply chain: – Strategic partners to
Slide 22: CO2 Commercialisation
APPENDIX ASX: BNL OTC: BSNLF CO2 COMMERCIALISATION High-grade, natural CO₂ product opportunity for premium markets Realisation of Galactica/Pegasus CO2 commercialisation potential • The Pinon Canyon Plant is designed to incorporate CO2 purification, with liquefaction and sales subject to finalising
Slide 23: Mineral Rights in the United States
APPENDIX ASX: BNL OTC: BSNLF Mineral Rights in the United States 1. The system of mineral ownership and development in the USA is substantially different to the 5. If an owner of a mineral estate, whether severed or intact with the surface, chooses to pursue 9. The identity of the mineral ownership
Slide 24: Risk Factors
APPENDIX ASX: BNL OTC: BSNLF Risk Factors The exploration for, and development of, natural resources is a highly speculative activity which authorities, as well as private landowners. There can be no assurance that Blue Star will be able to Downward revision of reserves and resources estimates may a
Slide 25: Contact Us
24 ASX:BNL CONTACT US Trent Spry Managing Director & CEO info@bluestarhelium.com For further information visit: www.bluestarhelium.com ASX: BNL OTC: BSNLF
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