Announcement PDF ASX ANNOUNCEMENT | 28 August 2026 Appendix 4E This report details the consolidated results of Provaris Energy Ltd, ABN: 53 109 213 470 (“Provaris” or "the Company") and its controlled entities (“the Group”) for the year ended 30 June 2026. Comparatives are for the year ended 30 June 2025. RESULTS FOR ANNOUNCEMENT TO THE MARKET 2026 2025 $’000 $’000 Revenue from ordinary activities — — — — Profit/(Loss) from ordinary activities after tax attributable to members Up 60% (4,045) (2,524) Net profit/(loss) for the year attributable to members Up 60% (4,045) (2,524) Cents Cents Net Tangible assets per security – at the end of the year 0.09 (0.01) DIVIDENDS No dividends have been paid or declared since the start of the financial year by the Company. The directors have recommended that no dividend be paid by the Company in respect of the year ended 30 June 2026. The Company does not have a dividend reinvestment plan. DETAILS OF ENTITIES OVER WHICH CONTROL HAS BEEN GAINED OR LOST DURING THE YEAR The Group did not gain or lose control over any other entities during the year. DETAILS OF ASSOCIATES AND JOINT VENTURE ENTITIES The Group did not have any associates or joint venture entities during the year. AUDIT This report is based on financial statements which have been audited. COMMENTARY ON THE RESULTS Commentary on the results for the period is contained within the Annual Report that accompanies this announcement. Norman Marshall Company Secretary +61 481 148629 nmarshall@provaris.energy Sydney: Level 14, 234 George St, Sydney NSW 2000, Australia Oslo: Sørkedalsveien 6, Level 17, KPMG bygget, 0369 Oslo, Norway ASX.PV1 @ProvarisEnergy Provaris Energy Ltd. info@provaris.energy Provaris Energy Ltd Annual Report 2026 CONTENTS Page Corporate Directory 1 Chairman and Managing Director’s Letter 2 Operations Report for 2026 4 Directors’ Report 7 Corporate Governance Statement 24 Consolidated Statement of Profit or Loss and Other Comprehensive Income 25 Consolidated Statement of Financial Position 26 Consolidated Statement of Cashflows 27 Consolidated Statement of Changes in Equity 28 Notes to the Financial Statements 29 Consolidated Entity Disclosure Statement 59 Directors’ Declaration 60 Auditor’s Independence Declaration 61 Auditor’s Report 62 Additional Information as at 25 August 2025 66 CORPORATE DIRECTORY 1 DIRECTORS: Greg Martin (Independent, Non-Executive Chairman) Martin Carolan (Managing Director and Chief Executive Officer) Andrew Pickering (Independent, Non-Executive Director) David Palmer (Independent, Non-Executive Director) COMPANY SECRETARY: Norman Marshall ABN: 53 109 213 470 ASX CODE: PV1 WEBSITE: www.provaris.energy REGISTERED OFFICE: Level 14, 234 George St Sydney NSW 2000 Tel: +61 (2) 9127 8250 AUDITORS: Stantons International Audit and Consulting Pty Ltd Level 2, 40 Kings Park Road West Perth, Western Australia 6005 Tel: +61 (8) 9481 3188 SHARE REGISTRY: Computershare Investor Services Pty Ltd Level 17,221 St Georges Terrace Perth, Western Australia 6000 Tel: +61 1300 787 272 Fax: +61 (8) 9323 2033 CHAIRMAN AND MANAGING DIRECTOR’S LETTER 2 Dear Shareholders, On behalf of the Board, I am pleased to present the 2026 Annual Report of Provaris Energy Limited. Provaris entered 2026 with a clear mandate: progress our proprietary technologies in hydrogen and carbon capture and storage (CCS) and convert technical achievement into commercial momentum. Despite challenging capital market conditions for emerging clean energy companies, the year was defined by disciplined execution, meaningful technical milestones and the continued strengthening of our strategic partnerships. A major achievement was advancing our large-scale liquid CO₂ (LCO₂) tank technology with Yinson. After completing concept design, the programme moved into FEED Stage 2, encompassing detailed engineering, fabrication methodologies, cost estimation, and marine classification activities. This progression represents a significant step toward establishing a new commercial pathway for Provaris in the rapidly emerging CCS sector. Yinson’s continued funding throughout the year underscores their confidence in both the technology and the commercial opportunity ahead. Our hydrogen business also advanced through the strategic partnership with Kawasaki Kisen Kaisha Ltd. (“K” LINE). Their global shipping expertise and commercial credibility continue to enhance the development pathway for Provaris’ compressed hydrogen shipping solution and support the creation of regional hydrogen supply chains. In Norway, we took over the ownership and operations of the robotic cell to enable fabrication of the hydrogen prototype tank to restart with solid progress achieved despite the inherent complexity of a first of kind fabrication. This programme remains central to securing final marine classification approvals for our H2Neo™ carrier and H2Leo™ barge designs. Our learnings further validated the application of robotic fabrication and laser welding technologies in pressure vessel construction, strengthening confidence in the manufacturability of our hydrogen platform. The Board recognises that developing first of kind technologies requires extensive engineering verification, manufacturing development and classification approvals before commercial deployment can occur. The progress achieved in 2026 reflects the capability and resilience of the Company’s management team, technical partners and employees. These achievements have steadily reduced technical risk and strengthened the foundations for future commercial outcomes. A defining feature of the year was Provaris’ evolution into a dual market technology company. What began as a hydrogen infrastructure business now includes a substantial opportunity in CCS with our partner Yinson. The engineering knowledge, fabrication expertise and intellectual property generated through the LCO₂ programme are creating convergence across both technology platforms and broadening future revenue opportunities. This diversification enhances Provaris' long-term strategic value. Looking ahead to 2027, the Board sees several important milestones that could further transform the business. These include progression toward DNV approvals for the LCO₂ tank design, completion and testing of the hydrogen prototype tank, advancement of commercial shipping opportunities through our partnership with “K” LINE and continued development of strategic projects in Europe. We also expect current engineering and commercial workstreams to provide greater clarity on potential commercial structures, licensing opportunities and future project participation. Europe remains a particular focus. Governments have begun mandating the use of renewable hydrogen and hydrogen derivatives in sectors such as transport, with compliance penalties providing greater visibility of real demand. It is increasingly recognised that domestic production alone will not meet this demand, reinforcing the need for efficient import supply chains and the shipping solutions required to deliver them. CHAIRMAN AND MANAGING DIRECTOR’S LETTER 3 The global energy transition continues to require practical, scalable and cost-effective solutions for the storage and transportation of hydrogen and carbon dioxide. Provaris holds a unique position through ownership of proprietary technologies addressing both markets. While significant work remains, the achievements of 2026 have strengthened our confidence that the Company is building technologies with meaningful commercial relevance and long-term value potential. On behalf of the Board, I thank our shareholders for their ongoing support, our partners for their commitment and our employees for their dedication throughout the year. We also acknowledge Per Roed's significant contribution as CTO over the past four years and welcome him to the Board of Directors in Norway, where his experience will continue to guide the remaining technical and maritime approval programmes and transition to shipbuilding activities. We look forward to updating you on our continued progress in 2027. Greg Martin Martin Carolan Chairman Managing Director OPERATIONS REPORT 4 Provaris continued to advance its proprietary hydrogen (H2) and liquid carbon dioxide (LCO₂) storage and transport technologies toward key technical milestones in 2026 to support commercialisation. The year was characterised by continued technical execution, expansion of strategic partnerships with global industry participants, advancement of marine classification pathways, and growing commercial engagement across Europe. The Company further evolved its capital-light commercial model, focusing on technology licensing, engineering services and strategic partnerships while continuing to build long-term value through intellectual property (IP) ownership and supply chain development. To expand our IP position the investment in the Robotics Innovation Centre in Fiska, Norway, has assisted with the ongoing demonstration, learnings and validation of our IP and development pathway for both H2 and LCO₂. During the year, Provaris strengthened its position as a dual-market technology developer to have LCO₂ complement our advanced H2 solution. Alongside continued progress in compressed hydrogen shipping and storage, the Company advanced its proprietary large-scale low-pressure LCO₂ tank programme with Yinson Production AS (Yinson), creating a second pathway to commercialisation in the rapidly growing carbon capture and storage (CCS) sector. Milestone Activities Expansion of Provaris' Dual-Market Technology Platform The LCO₂ program continued to generate strategic benefits beyond CCS market opportunities. Engineering activities undertaken through the Yinson partnership further enhanced Provaris' understanding of robotic fabrication and laser-welding, pressure vessel design and marine storage systems, creating valuable synergies across both hydrogen and LCO₂ technologies. The Company now holds a differentiated position as a developer of proprietary storage and shipping solutions for two emerging energy transition markets, creating multiple pathways to future licensing and commercialisation revenues. LCO₂ Tank Program Progresses into FEED Stage 2 The most significant technical achievement during the second half of the year was the technical delivery of the LCO₂ FEED program under the Joint Development Agreement with Yinson for a proprietary large- scale low-pressure LCO₂ storage tank for application in offshore storage and injection, and carriers. Following successful completion of Concept Design activities, the program progressed into FEED Stage 2 during the March quarter. The programme focused on detailed engineering, structural design verification, fabrication methodologies, marine classification approvals with DNV and cost estimation activities for large- scale fabrication. The proposed 25,000m³ LCO₂ tank design is being developed to support Floating Storage Injection Unit (FSIU) applications and large-scale CCS projects. FEED activities are expected to provide the design maturity, fabrication strategy and technical validation required to support commercial deployment. Importantly, Yinson continued to fund the programme under the Joint Development Agreement, reinforcing confidence in the market opportunity and technology's commercial potential with selection of the tank in their CCS supply chain project in Norway. OPERATIONS REPORT 5 Strategic Partnership with “K” LINE Advances Commercialisation of Hydrogen Shipping A major milestone during the year was the continued advancement of Provaris' strategic partnership with Kawasaki Kisen Kaisha Ltd. ("K" LINE), one of the world's largest shipping companies. Following execution of the Memorandum of Understanding in 2025, both parties continue to progress technical and commercial workstreams focused on establishing the ownership, financing and operational structure required for future H2Neo™ carrier and H2Leo™ barge deployment. Technical due diligence workshops were completed in Tokyo and commercial discussions continued with site visits to Norway. During the December and June quarters, a delegation of “K” LINE executives visited Norway, including site visits to Provaris' Robotics Innovation Centre and hydrogen prototype tank fabrication activities in Fiskå. The collaboration continued to mature vessel ownership concepts, financing structures and operational models for regional hydrogen shipping opportunities. The strategic relationship with “K” LINE represents important third-party validation of Provaris' compressed hydrogen shipping solution and supports implementation of the Company's capital-light commercialisation strategy. Robotics Innovation Centre Established and Operational in Norway Another achievement during the year was the establishment and operation of Provaris' Robotics Innovation Centre in Fiskå, Norway. The facility houses specialised robotics and laser-welding equipment developed to support fabrication of advanced pressure vessels for both hydrogen and LCO₂ applications. Following the equipment acquisition and commissioning activities completed during the December quarter, the facility became the centrepiece of the Company's technology development programs. The Robotics Innovation Centre also expands Provaris' intellectual property portfolio and provided a platform for future fabrication of LCO₂ tank components, creating valuable manufacturing capability relevant to both technology platforms. Provaris continues with fabrication of the hydrogen prototype tank programme, a critical component of the pathway toward Final Class Approval for Construction of the H2Neo™ hydrogen carrier. The H2 prototype programme remained focused on validating welding performance, fabrication methodologies and future testing procedures required by marine classification societies. The prototype tank programme remains strategically important as it provides technical validation for the Company's proprietary storage technology while also supporting future applications within the expanding LCO₂ development programme. Nordic Hydrogen Supply Projects and Commercial Development Throughout the year Provaris continued to progress hydrogen export opportunities originating from the Nordic region and targeting industrial and energy markets across Germany and Northern Europe. The Collaboration Agreement with Norwegian Hydrogen AS was renewed during the December period, supporting continued development of the FjordH2 project and broader compressed hydrogen export opportunities from Norway. Concurrently, the hydrogen supply and shipping discussions between Provaris and Norwegian Hydrogen continue with German utilities seeking imported volumes of RFNBO compliant hydrogen using the Provaris carriers. Engagement also expanded beyond existing counterparties, with increased discussions with Nordic H2 production projects, German offtake and infrastructure participants evaluating future hydrogen import requirements. Market analysis continued to reinforce the economic and logistical benefits of compressed hydrogen shipping as a low-capex alternative for regional hydrogen trade. OPERATIONS REPORT 6 Strategic Collaboration with Baker Hughes During the September quarter Provaris entered into a collaboration agreement with Baker Hughes, a globally recognised energy equipment technology company. The collaboration combines Provaris' proprietary maritime storage and shipping solutions with Baker Hughes' expertise in gas compression equipment, capital and operating costs. The agreement and associated technical studies provide additional industry validation of the Company's compressed hydrogen supply chain solution through equipment selection and costs estimates with support to be provided from Baker Hughes for the evaluation of regional hydrogen export and import opportunities. Outlook and Strategic Priorities With these achievements, Provaris has established a strong technical and commercial foundation for future growth. Key priorities moving forward include: • Completing technical milestones under the LCO₂ FEED and Class Approval programme and progressing toward commercial readiness, including certification of a tank fabrication partner and maiden technology license agreement • Advancing hydrogen prototype tank testing and final marine classification approvals. • Continuing collaboration with “K” LINE on ownership, financing and operating models for future hydrogen carriers. • Progressing commercial discussions with Nordic hydrogen producers, European offtakers and infrastructure developers. • Expanding the Company's intellectual property portfolio through the Robotics Innovation Centre across H2, LCO2 and other opportunities identified for containment tanks using Provaris’ design and fabrication technology • Maintaining a disciplined capital-light commercial strategy focused on technology licensing and strategic partnerships. • Building on Provaris' position as a dual-market technology provider supporting both hydrogen and carbon capture infrastructure. Provaris has continued to demonstrate meaningful progress across both technical and commercial workstreams. The advancements achieved during 2026 strengthen the Company's pathway to commercialisation and reinforce the value of its proprietary technologies as enabling infrastructure for the global energy transition. -END - DIRECTORS’ REPORT 7 The directors of Provaris Energy Ltd A.C.N. 109 213 470 (“Provaris” or “the Company”) present their report including the consolidated financial report of Provaris and its controlled entities (“Consolidated Entity” or “Group”) for the year ended 30 June 2026. DIRECTORS The directors of Provaris in office during the year and up to the date of this financial report are as follows. Directors were in office for the entire period unless otherwise stated. Greg Martin Independent, Non-Executive Chairman Martin Carolan Managing Director and Chief Executive Officer Andrew Pickering Independent, Non-Executive Director David Palmer Independent, Non-Executive Director PRINCIPAL ACTIVITIES The Group is advancing innovative Compressed Hydrogen (H2) and low pressure Liquid Carbon Dioxide (LCO₂) storage and transport solutions through proprietary tank designs for storage, maritime gas carriers and integrated supply chain development. Principle activities include (i) the design, engineering and Maritime Class Approvals for its proprietary H2NeoTM Carrier and H2LeoTM Storage Barge for the marine storage and transportation of compressed hydrogen; (ii) developing innovative LCO₂ tank designs in partnership with Yinson Production AS for marine transport and offshore storage and injection applications; and (iii) supporting the development of hydrogen and CO₂ supply chain projects in Europe, with a focus on local collaborations in the Nordics and North West Europe. OPERATING RESULTS AND FINANCIAL POSITION The operating loss for the Consolidated Entity, after income tax, amounted to $4,045,087 (2025: loss of $2,523,878). The operating loss for the year includes direct project development costs of $1,818,274 (2025: $296,719) in addition to staff costs and operational overheads. At 30 June 2026, the Consolidated Entity had cash and cash equivalents of $1,050,710 (2025: $330,828). REVIEW OF OPERATIONS Refer to the Operations Report for further information. CORPORATE On 27 November 2025 Provaris’ annual general meeting was held in Sydney. All resolutions considered at the meeting were passed. SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS The following significant changes in the state of affairs of the Consolidated Entity occurred during the financial year: • On 10 July 2025: 79,046,156 fully paid ordinary shares were issued, at an issue price of $0.013 per share, under a placement to sophisticated, professional, and institutional investors. • On 18 July 2025: 1,000,000 fully paid ordinary shares were issued on the vesting of employee performance rights issued 8 April 2025. • On 25 July 2025: 1,590,910 fully paid ordinary shares were issued to Macquarie Bank Limited’s nominee on the conversion of 7 convertible bonds, each with a face value of $5,000. DIRECTORS’ REPORT 8 • On 20 August 2025: 9,276,138 fully paid ordinary shares were issued, at an issue price of $0.011 per share, under a placement to Directors pursuant to voluntary remuneration direction authorities for the months of April, May, and June 2025. • On 20 August 2025: 4,000,000 fully paid ordinary shares were issued, at an issue price of $0.013 per share, under a placement to Directors as part of the Company’s July 2025 placement. • On 22 August 2025: 27,682,053 unlisted options were issued with an exercise price of $0.03 per fully paid ordinary share and expiry date of 20 February 2027 as part of the Company’s July 2025 placement. • On 1 September 2025: 52,631,582 fully paid ordinary shares were issued, at an issue price of $0.019 per share, under a placement to sophisticated, professional, and institutional investors. • On 15 September 2025: 10,000,000 fully paid ordinary shares were issued to Yinson Production at no cost for Yinson’s continued commercial, technical and market commercialisation support in relation to the joint CO2 tank development collaboration. • On 31 October 2025: 9,000,000 fully paid ordinary shares were issued for no consideration pursuant to the Company’s Employee Share Plan. • On 31 October 2025: 4,000,000 employee performance rights were issued to employees and a consultant, for no consideration and subject to various vesting conditions being met and an expiry date of 31 October 2028. • On 28 November 2025: 4,000,000 fully paid ordinary shares were issued for no consideration pursuant to the Company’s Employee Share Plan. • On 28 November 2025: 15,000,000 performance rights were issued to Directors for no consideration and subject to various vesting conditions being met and an expiry date of 28 November 2028. • On 23 December 2025: 29,230,769 fully paid ordinary shares were issued, at an issue price of $0.013 per share, under a placement to sophisticated, professional, and institutional investors. • On 1 March 2026: 23,750,000 unexercised unlisted options expired. • On 6 March 2026: 1,600,000 fully paid ordinary shares were issued for no consideration pursuant to the Company’s Employee Share Plan. • On 10 March 2026: 132,500,000 fully paid ordinary shares were issued, at an issue price of $0.01 per share, under a placement to sophisticated, professional, and institutional investors. • On 11 March 2026: 44,166,668 unlisted options were issued with an exercise price of $0.03 per fully paid ordinary share and expiry date of 20 February 2027 as part of the Company’s March 2026 placement. • On 20 March 2026: 19,423,077 unlisted options were issued with an exercise price of $0.03 per fully paid ordinary share and expiry date of 20 February 2027 as part of the Company’s December 2025 placement. • On 20 March 2026: 9,615,384 fully paid ordinary shares were issued, at an issue price of $0.013 per share, under a placement to Directors as part of the Company’s December 2025 placement. • On 8 May 2026: 40 unconverted convertible bonds, each with a face value of $5,000 were repaid to Macquarie Bank Limited. • On 26 June 2026: 125,974,026 fully paid ordinary shares were issued, at an issue price of $0.0077 per share, under a placement to sophisticated, professional, and institutional investors. • On 11 July 2026: 8,281,145 unexercised unlisted options expired. SIGNIFICANT EVENTS SUBSEQUENT TO BALANCE DATE The directors are not aware of other matters or circumstances having arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years. DIRECTORS’ REPORT 9 LIKELY DEVELOPMENTS AND EXPECTED RESULTS Provaris will continue to pursue its development activities for compressed hydrogen carriers to support regional hydrogen supply chain development and the partnership with Yinson Production AS for development of a proprietary LCO2 tank design for large-scale Carbon Capture and Storage (CCS) supply chains. Funding and Company resources will be applied towards: • Achievement of all Class Approvals for Provaris’ proprietary H2NeoTM carrier (shipping) and H2LeoTM barge (storage) for the marine storage and transportation of compressed hydrogen. • Collaboration with developers of hydrogen production and export supply chains in the Nordic region, including Norway, for supply to the European region. • Achievement of all Class Approvals for the proprietary LCO2 tank and technical validation to support commercial deployment into global CCS markets in partnership with Yinson Production AS. The likely outcomes of these activities depend on a range of technical, economic, industry, geographic, environmental, regulatory, and other activity specific factors many of which are outside Provaris’ direct control. Consequently, the directors consider it is not possible or appropriate to make a prediction on the future results of Provaris’ activities. ENVIRONMENTAL & CULTURAL HERITAGE REGULATIONS AND PERFORMANCE Provaris has an established edict for its activities and operations to comply, in all respects, with the laws and regulations, including environmental and cultural heritage laws and regulations, of each country in which it has a presence and, as a minimum, adopt and comply with the laws, regulations and accepted practices as would apply in Australia. There have been and are no known breaches of environmental or cultural heritage laws or regulations by Provaris. DIRECTORS’ REPORT 10 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) Environmental, Social & Governance – ready to measure impact During the year, our commitment to continuous improvement and approach to reporting on material and non-financial ESG matters continued. Provaris has developed an ESG strategy that is directly aligned with the state of the business and adheres to our aspirations as a company. ESG and sustainability risks are reviewed through the Company's broader enterprise risk management framework and considered in strategic decision-making and project evaluations. A copy of the ESG Framework is available on our website. Our Purpose, and mission Provaris is focused on becoming the leading technology provider for the storage and transport of hydrogen and liquid CO2. Our purpose is to develop solutions that are simple, efficient, safe and economic to enable the development of regional markets for hydrogen and carbon capture and storage to become key pillars for decarbonisation of hard to abate industries. As Provaris moves towards commercialising its technology and solutions – our value creation will support and act as drivers for long-term economic growth to allow for the decarbonisation of hard-to-abate sectors. Leadership & Governance – the right minds matter Provaris believes in good governance factors of decision-making, independence, diversity and social inclusion. Ensuring the Board of Provaris leads by example, demonstrating a depth of expertise and capability, for Provaris to achieve our corporate milestones – the right minds really do matter. Provaris acknowledges the importance and benefits that come with an independent, diverse and socially inclusive Board. Reporting Pillar Corporate Action Reported Ongoing To be Addressed Governance Purpose statement  Governance board composition (matrix)  Material issues impacting stakeholders  Anti-corruption practices  Mechanisms to protect Ethical Behaviour  Integrating risk and opportunities into business process  DIRECTORS’ REPORT 11 Planet – managing climate change and biodiversity for future generations Protecting the planet and ensuring our operations do not cause harm to the environment and biodiversity on the projects we are collaborating with suppliers of hydrogen in Norway and import infrastructure in Germany and Netherlands. We continue to identify and understand the impact our future operations will have on the environment. Reporting Pillar Corporate Action Reported Ongoing To be Addressed Planet GHG Emissions  TCFD implementation  Land use and ecology sensitivity  Water consumption  People – human capital and social license to operate Provaris seeks to employ, develop and grow its team with a focus on diversity and equality. It ensures a safe and healthy environment being aware the physical and mental wellness of our staff and contractors has a direct impact on our performance. Reporting Pillar Corporate Action Reported Ongoing To be Addressed People People – Diversity & inclusion  Health and safety  Training provided  Safety incidents  People – pay equality  Child, forced or compulsory  Prosperity – contributing to societal, environmental development and economic development Provaris’ focus to deliver low-carbon hydrogen and CO2 storge will by the very nature of our mission bring societal, environmental, and economic development to the regions we operate, and overall improve the prosperity of the planet. Reporting Pillar Corporate Action Reported Ongoing To be Addressed Prosperity Rate of employment  Total R&D tax  Total tax paid  Economic contribution  Financial investment contribution  DIRECTORS’ REPORT 12 INFORMATION ON DIRECTORS AND COMPANY SECRETARY GREG MARTIN INDEPENDENT, NON-EXECUTIVE CHAIRMAN APPOINTED: 1 FEBRUARY 2022 Qualifications and Experience: Mr Martin holds a Bachelor of Economics from the University of Sydney and a Bachelor of Laws from the University of Technology, Sydney. Mr Martin has over 45 years’ experience in the utilities, financial services, mining, energy, and energy- related infrastructure sectors across Australia, New Zealand, and internationally. He served as Managing Director and CEO of The Australian Gas Light Company (ASX:AGL) for five years. After AGL, he joined Chal