Gold Hydrogen Ltd. · ASX:GHY
Gold Hydrogen — Non-Deal Roadshow (November 2025)
48 slides from Gold Hydrogen's roadshow presentation, Nov 5, 2025
Slide 1: Committed to Developing Naturally Occurring Hydrogen and Helium in Australia
For personal use only Committed to Developing Naturally Occurring Hydrogen and Helium in Australia Committed to Developing Naturally Non-Deal Occurring Roadshow Hydrogen and Helium in Australia Neil McDonald – Managing Director 1 Gold Hydrogen Limited 1
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: Table of Contents
For personal use only Corporate Snapshot & Project Overview 1. Industry Overview 2. What We Have Achieved and Learned 3. Objectives and Executing on Lessons Learned 4. Upcoming Work Program Table of Contents Gold Hydrogen Limited 3
Slide 4: Gold Hydrogen – Corporate Snapshot
Gold Hydrogen – Corporate Snapshot Board of Directors Shares on Issue – 180.5 million Alexander Downer – Non-Executive Chair For personal use only Katherine Barnet – Non-Executive Director Neil McDonald – Managing Director Roger Cressey – Executive Director Tenure 1 granted Petroleum Licence – PEL 6
Slide 5: Executive Summary – Natural Hydrogen and Helium
Executive Summary – Natural Hydrogen and Helium Title over certified Engagements to date with For personal use only Prospective Resources leading global experts and 1.3 billion kg of natural Hydrogen1 contractors 41 Bcf of Helium1 CSIRO, Schlumberger, Total Seismic, (with a mean of 96 Bcf) Xcalibur,
Slide 6: Gold Hydrogen project overview
Gold Hydrogen project overview • Gold Hydrogen drilled two exploration wells in 2023, which were subsequently tested in 2024 to validate the historic 1931 Ramsay Oil Bore site and confirm the presence of high-purity Natural Hydrogen and Helium at that location. For personal use only • The two explor
Slide 7: 1. Industry Overview
For personal use only 1. Industry Overview Gold Hydrogen Limited 7
Slide 8: Natural Hydrogen is the most cost-effective source of hydrogen
1(i) Natural Hydrogen is the most cost-effective source of hydrogen 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
Slide 9: Global hydrogen demand is forecast to surge
1(ii) Global hydrogen demand is forecast to surge Substantial investment laying the foundation for Hydrogen use For personal use only Source: Frost & Sullivan Report - Page 29 of Gold Hydrogen Prospectus. Source: International Energy Agency, Oct-2021 (Other includes buildings, agriculture and refine
Slide 10: Key drivers for helium
1(iii) Key drivers for helium The global wholesale helium market is expected to grow from an estimated For personal use only US$5bn in 2023 to over US$8bn in 20301 There are commercial global gas projects with significant Indicatively pricing is currently approximately USD400- lower helium concentra
Slide 11: 2. What We Have Achieved and Learned
For personal use only 2. What We Have Achieved and Learned Gold Hydrogen Limited 11
Slide 12: Gold Hydrogen has a significant run sheet of achievements to date
2) Gold Hydrogen has a significant run sheet of achievements to date • 2024 drilling and well testing confirmed the presence of a Natural Hydrogen and Helium system adjacent to the historic (1931 Ramsay Oil Bore) site at Ramsay. For personal use only • World-class purities of Natural Hydrogen and He
Slide 13: High purity hydrogen and helium in PEL687
2(i) High purity hydrogen and helium in PEL687 Extensive regional play across 7,400 km2 permit area For personal use only Extracted from fluid inclusions in rock chips from historical wells Extracted from fluid inclusions rock chips from historical wells Note: Ramsay 1 & 2 drilling and well test sam
Slide 14: Target zones for targeted drilling have been identified
2(ii) Target zones for targeted drilling have been identified Mudgas measurements For personal use only Target Zones & Resources (Hydrogen / Helium) Ramsay Lst Minlaton Fm • 4 main target zones identified from drilling and testing A Parara Limestones Ramsay 1 and 2. B • Natrual Hydrogen shows in bas
Slide 15: Understanding of H2 flow has begun
2(iii) Understanding of H2 flow has begun Stage 2 well testing of Ramsay 2 exploration well at depths 200m to 350m1 For personal use only • Narrow-gauge exploration well. • Testing process and timeframe limited by Govt approvals. • H2 concentrations increased over time as the well was dewatered, wit
Slide 16: Understanding of He flow has begun
2(iii) Understanding of He flow has begun Stage 2 well testing of the Ramsay 1 exploration well For personal use only • Narrow-gauge exploration well. • Testing process and timeframe limited by Govt approvals. • Helium concentrations increased over time as the well was dewatered, with gas to surface
Slide 17: Ramsay 2D seismic program has helped identify optimal drilling locations
2(iv) Ramsay 2D seismic program has helped identify optimal drilling locations Regional 2D seismic survey acquired June - July 2024 For personal use only • Historic seismic data over the Yorke Peninsula PEL 687 was extremely limited. • The Company’s 2024 seismic data acquisition allowed fresh interp
Slide 18: Strategic investments from global leaders
2(v) Strategic investments from global leaders • Gold Hydrogen undertook a 12-month strategic • $14.5m combined initial investment. process to identify partners with the capital, • Placement at $0.70 per share on 3 July 2025 (being a 22% For personal use only technology and expertise to accelerate d
Slide 19: Through the first drilling program Gold Hydrogen made several crucial learnings
Through the first drilling program Gold Hydrogen made several crucial learnings • Ramsay 1 & 2, located nearby the 1931 Ramsay Oil Bore 1 well, confirmed the presence of Natural Hydrogen and Helium, but more optimal well locations exist based on For personal use only subsequent new seismic data. • M
Slide 20: 3. Objectives and Executing on Lessons
For personal use only 3. Objectives and Executing on Lessons Gold Hydrogen Limited 20
Slide 21: Planned objectives
Planned objectives The four key stages to continue to de-risk the Ramsay Project are: 1. Further define resource 2. Further optimise well 3. Partnerships and 4. Develop geological and For personal use only and optimise drilling design for appraisal and downstream opportunities commercial model/s loc
Slide 22: Executing on lessons learned
Executing on lessons learned 3(i) Location: For personal use only - Ramsay 2D Seismic Survey - Up-dip - Ramsay 3 Drilling 3(ii) Well Analysis and Application 3(iii) Water Permitting Gold Hydrogen Limited 22
Slide 23: 2025/26 well locations: Ramsay 2D seismic survey
3(i) 2025 / 26 well locations: Ramsay 2D seismic survey For personal use only Gold Hydrogen Limited 23
Slide 24: Location: up-dip
3(i) Location: up-dip • Ramsay 3 to be drilled first and subsequent locations will be For personal use only subject to initial drilling results • 2 firm + 1 contingent (2+1) drilling campaign. • 4 well locations high-graded. • Vertical wells (<20 days each). • Formation evaluation and reservoir char
Slide 25: Location: Ramsay drilling
3(i) Location: Ramsay 3 drilling • Drilling ~20 days per well plus logging. • TD approx. 900m, including basement. For personal use only • Ramsay 3 up-dip from Ramsay 1 & 2. • Specialist H2 / He mud-gas sampling. • DQ 1000 mass spectrometer for real-time formation and fluid analysis. • Wireline logg
Slide 26: Well analysis and application
3(ii) Well analysis and application • Well bore size for the 2025 / 26 wells will allow 7 inch diameter casing to enable optimal conditions for well testing in Q1, 2026, whereas Ramsay 1 & 2 drilled in For personal use only 2023 were narrow gauge wells with 4.5 inch casing, designed to confirm histo
Slide 27: Water permitting
3(iii) Water permitting • The potential for dry gas is highest in the shallow zones of the planned wells. Based on the results from Ramsay 1 & 2, we have planned to manage the removal For personal use only of water from the wells during the testing program. • The Company is working with the SA Gover
Slide 28: 4. Upcoming 2025/26 Work Program
For personal use only 4. Upcoming 2025/26 Work Program Gold Hydrogen Limited 28
Slide 29: Upcoming Work Program
Upcoming Work Program 4(i) Work Program & Timeline For personal use only 4(ii) Regional Application Programs 4(iii) Analysis of Natural Hydrogen Use Cases 4(iv) Analysis of Helium Usage Gold Hydrogen Limited 29
Slide 30: Work program & timeline
4(i) Work program & timeline • November 2025: Exploration Drilling & Logging Ramsay 3. • Currently $22m in cash. • December 2025: Exploration Drilling & Logging Second Well. For personal use only • Program is more than fully funded with • January 2026: Exploration Drilling & Logging Third Well (to c
Slide 31: Regional application areas – Fluid inclusion sample locations
4(ii) Regional application areas – Fluid inclusion sample locations • Testing of samples within historic, third- For personal use only party drill cores to determine the existence and locations of Natural Hydrogen and / or Helium occurrences. • Results to be combined with GA seismic data to locate f
Slide 32: Regional application areas – GA seismic line A-A'
A 4(ii) Regional application areas – GA seismic line A’ For personal use only PELA703 PELA702 PELA701 PELA700 PELA792 A Interpretation of GA seismic line across A’ application areas enabling identification of drill targets. Regional Seismic line acquired by GA in 2022 (22GA-DL-1 DMOStack) Gold Hydro
Slide 33: Analysis being completed for various hydrogen use cases
4(iii) Analysis being completed for various hydrogen use cases 01 01 - Hydrogen to Energy (e.g. Jenbacher) 02 - Hydrogen to Green Bio Methanol For personal use only 03 03 - Hydrogen to Natural Gas Pipeline Gold Hydrogen Limited goldhydrogen.com.au | ASX:GHY | 33
Slide 34: Analysis being completed for helium usage
4(iv) Analysis being completed for helium usage Extraction and Transportation For personal use only • Once Helium flows at Ramsay have been quantified, the gas will be processed in a central facility, purified, and transported as liquid. • The gaseous purification process uses an extremely reliable
Slide 35: Recap / Summary
Recap / Summary • The data and results collected by Gold Hydrogen from the Ramsay 1 & 2 wells confirmed that Natural Hydrogen existed at the Ramsay Project at high-purity levels of up to 95.8% together with world-leading purities of Helium of up to 36.9%. For personal use only • Despite Ramsay 1 & 2
Slide 36: Appendix – Further Information
For personal use only Appendix – Further Information Gold Hydrogen Limited 36
Slide 37: Key Team Members
For personal use only Key Team Members Gold Hydrogen Limited 37
Slide 38: Key Management
Key Management For personal use only Neil McDonald Peter Bubendorfer Frank Glass Julien Bourdet Hugo Beldame Founder & Managing Director Chief Geologist Chief Exploration Adviser Geological Advisor Exploration Geologist Neil McDonald, with over 20 years of Peter has extensive experience in Frank Gla
Slide 39: Key Management
Key Management For personal use only Billy Hadi Subrata Leon Hennessey Simon Talbot Chief Technical Officer GM - Operations Chief Commercial Officer Billy Hadi Subrata is an experienced Leon has broad industry experience Simon joined the Company after petroleum and reservoir engineer with working in
Slide 40: Board of Directors
Board of Directors For personal use only Neil McDonald Alexander Downer Katherine Barnet Roger Cressey Karl Schobohm Founder & Managing Director Independent Independent Executive Director Company Secretary & CFO Non-Executive Chair Non-Executive Director Commercial Operations Neil McDonald, with ove
Slide 41: 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 42: Ramsay Project Milestones
Ramsay Project Milestones For personal use only Gold Hydrogen Limited goldhydrogen.com.au | ASX:GHY | 42
Slide 43: Traditional Green Methanol Opportunity
Traditional Green Methanol Opportunity Conceptual Design For personal use only Not required with Natural Hydrogen Gold Hydrogen Limited goldhydrogen.com.au | ASX:GHY | 43
Slide 44: Traditional Green Methanol Opportunity
Traditional Green Methanol Opportunity Conceptual Design For personal use only Gold Hydrogen Limited goldhydrogen.com.au | ASX:GHY | 44
Slide 45: Helium - Overview
Helium 3 - Overview For personal use only • Helium-3 detected by independent international laboratory testing of Ramsay Project helium samples. • The isotopic analysis results from samples tested suggest up to 3.47ppb Helium-3 within a 36.9% Helium sample. • Helium-3 is extremely rare and valuable,
Slide 46: 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 | 46
Slide 47: 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 | 47
Slide 48: For personal use only
For personal use only Neil McDonald Roger Cressey Karl Schlobohm Managing Director Executive Director CFO / Company Secretary nmcdonald@goldhydrogen.com.au rcressey@goldhydrogen.com.au kschlobohm@goldhydrogen.com.au + 61 0 419 721 007 + 61 0 419 663 569 + 61 0 419 721 007 Gold Hydrogen Limited | GPO