Quantum Helium (QHE) Trading update summary

Sagebrush-1 stimulation programme

• Larger-volume, propped fracture stimulation design is substantially complete; final treatment parameters are being refined with specialist US fracture stimulation engineers.

• Treatment aims to improve reservoir connectivity and create conductive pathways for stronger, sustainable helium-bearing gas flow.

• Programme is designed to contact a broader section of the Leadville Formation, with potential access to both Upper and deeper Lower Leadville intervals.

• Initial extended production test confirmed helium-bearing gas at approximately 2.5% helium.

• Sagebrush-1 is a helium discovery in Colorado with a 90% working interest.

Preparation and next steps

• Final treatment specifications and contractor, specialist pumping, high-pressure tubing, water-handling and surface-equipment arrangements are being completed.

• Principal engineering work is substantially complete; contractor mobilisation and final operational scheduling are underway.

• Field operations are targeted to commence in November 2026, subject to final scheduling and equipment availability.

• Primary objective is to demonstrate improved, sustainable flow rates and generate production data to assess the next stage of commercial helium development.