PureWave Hydrogen

Operations

Led by Deep Understanding of Hydrogen Geology and Data

A Revolutionary Approach to Legacy Industry Big data and artificial intelligence allows fast data exploration, leveraging over 5,000 natural occurrences

Purpose built dataset defines prospective area with natural hydrogen occurrences

▪Big data and artificial intelligence allows fast data exploration.

▪Leveraging dataset of over 5,000 natural hydrogen occurrences across 39 states between 1918 and 2014.

▪Calibrated geological model supported by hydrogen occurrences and subsurface data.

▪Delineates a highly prospective area in Midwest, USA with at least 12 occurrences of natural hydrogen.

Workflow of natural hydrogen exploration, showing how PureWave can de-risk regional evaluations to allow more
detailed exploration with a higher probability of success.

CLOSE to MARKET

Surrounded by Existing Regional Demand for Energy and Hydrogen

Simple philosophy: explore for resources close to customers

o Focused on strategic location in central U.S.

o Existing local demand for affordable low carbon energy and hydrogen.

o Gas pipelines, major highways and railways facilitate connection to end-users.

o Multiple H2 Hubs are being created in the Mid- West supported by US$8 billion federal program and world leading tax credits for hydrogen (section 45V).

The existing landscape of industrial production and commodity transport infrastructure give Kansas unique advantages in jumpstarting investment in low- carbon hydrogen

Targeted Leasing

Focused on acquiring leases with natural hydrogen occurrences

o Building a portfolio of 100% owned and operated leases, starting in Riley, Geary and Morris Counties, Kansas.

o Held leases includes several historical well sites with natural hydrogen occurrences.

o 56% H2 |Scott well drilled to 2220ft (677m) in 1982.

o 92% H2 |Durochewell drilled to 1390ft (424m) in 2008.

o Hydrogen percentages reflect occurrences of published gas analyses recovered from the wellbore.

o Situated in an area with multiple routes to monetization.

Nemaha Ridge Kansas, USA

Mid-West Play Diagram - A unique combination of critical success factors

o Hydrogen is considered to be sourced from rocks within the Midcontinent Rift.

o Hydrogen migration from Midcontinent Rift via faults to adjacent crestal highs.

o Nemaha Ridge is the most prominent structural high in the region and is a focal point for migration.

o At least 10 occurrences of natural hydrogen have been recorded on this structure.

Strategy