Charbone (CH) investor relations material

Financial performance

• Gas income rose from CAD 176,000 in Q1 2026 to CAD 456,000 in Q2; preliminary Q3 income was CAD 553,000, up ~21% QoQ and more than 3x Q1.

• Preliminary, unaudited gas income for the nine months ended September 2026 was nearly CAD 1.2 million; finalized Q3 results, including margins, were planned for a December 1 webinar.

• Gas income increased each quarter in 2026 as customer numbers and gas deliveries grew.

Commercial growth

• From Q1 to Q3 2026, the trailer fleet expanded from 2 to 11 and active customers increased from 3 to 28.

• Multi-year supply agreements doubled from 2 to 4; customer deliveries rose from ~2 per month in Q1 to ~12 per month in Q3.

• Regional supply hubs increased from 2 to 4, serving Quebec, Ontario, Nova Scotia and New York State; staffing grew from 9 to 15 employees.

Operations and capacity

• The Sorel-Tracy phase I-A plant produces ultra-high-purity hydrogen and can operate 24/7; on-site quality testing is operational, with moisture consistently below 2 ppm.

• Phase I-B electrolyzer installation and equipment connections were advancing, with civil work complete; launch remained on track for fall 2026.

• At the Wolf River Hydroelectric Project in Wisconsin, generator repairs were underway in Lévis, Quebec, with reinstallation targeted for December; a reservoir refill plan was submitted to FERC and stakeholders.

• Hydrogen and helium cylinder filling moved in-house at Sorel-Tracy to support margin improvement, product quality and delivery control; construction of a dedicated building was advancing.