Announcement PDF APPENDIX 4D – HALF YEAR REPORT FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 27 February 2026 DETAILS OF THE REPORTING PERIOD This report details the consolidated results of Provaris Energy Ltd, ABN: 53 109 213 470 ("Company”) and its controlled entities (“Group”) for the half-year ended 31 December 2025. Comparatives are for the half- year ended 31 December 2024. RESULTS FOR ANNOUNCEMENT TO THE MARKET 2025 2024 $’000 $’000 2.1 Revenue from ordinary activities 0% — — 2.2 Profit/(Loss) from ordinary activities after tax attributable to members Up 59% (2,090) (1,311) 2.3 Net profit/(loss) for the year attributable to members Up 59% (2,090) (1,311) Cents Cents 2.4 Net Tangible assets per security – at the end of the period 0.07 0.14 OPERATING RESULTS For commentary on the financial results please refer to the information provided in the Directors Report in the attached interim financial report. The half-year report should be read in conjunction with the most recent annual report. DIVIDENDS No dividends have been paid or declared since the start of the financial half-year by the Company. The directors do not propose to pay either a final or interim dividend. The Company does not have a dividend reinvestment plan. DETAILS OF ENTITIES OVER WHICH CONTROL HAS BEEN GAINED OR LOST DURING THE PERIOD The Group did not gain or lose control over any entities during the half-year ended 31 December 2025. DETAILS OF ASSOCIATES AND JOINT VENTURE ENTITIES The Group did not have any associates or participation in any joint ventures during the half-year ended 31 December 2025. AUDIT OF FINANCIAL STATEMENTS This report is based on the attached half-year financial report which has been reviewed by the Company’s auditors. This document should be read in conjunction with the Annual Financial Report of Provaris Energy Ltd for the year ended 30 June 2024 Provaris Energy Ltd Consolidated Financial Report for the Half Year ended 31 December 2025 CORPORATE DIRECTORY 2 2 0BDIRECTORS: Greg Martin (Independent, Non-Executive Chair) Martin Carolan (Managing Director and CEO) Andrew Pickering (Independent, Non-Executive Director) David Palmer (Independent, Non-Executive Director) 1BCOMPANY SECRETARY: Norman Marshall 2BABN: 53 109 213 470 3BASX CODE: PV1 4BWEBSITE: https://www.provaris.energy/ 5BREGISTERED OFFICE: Level 14, 234 George Street Sydney NSW 2000 Tel: +61 (2) 9127 8250 6BAUDITORS: Stantons International Audit and Consulting Pty Ltd Level 2, 40 Kings Park Road West Perth, Western Australia 6005 Tel: +61 (8) 9481 3188 7BSHARE REGISTRY: Computershare Investor Services Pty Ltd Level 17, 221 St Georges Terrace Perth, Western Australia 6000 GPO Box D182 Perth, Western Australia 6840 Tel: +61 1300 787 272 Fax: +61 (8) 9323 2033 DIRECTORS REPORT 3 3 The directors of Provaris Energy Provaris -year ended 31 December 2025. The Company is a listed public company limited by shares and incorporated and domiciled in Australia. DIRECTORS The names of the directors of the Company who held office during the half-year and up to the date of this report, unless otherwise indicated, are: Greg Martin Independent, Non-Executive Chair Martin Carolan Managing Director and CEO Andrew Pickering Independent, Non-Executive Director David Palmer Independent, Non-Executive Director OPERATING RESULTS The operating loss for the Consolidated Entity, after income tax, amounted to $2,089,843 (2024: $1,311,130). The net increase in operating loss ($778,713) year on year was due to: An increase in direct project development costs of $197,563 related to the establishment of the Robotic Production Cell in Norway and the H2 Prototype Tank; An increase in direct project costs of $300,416 relating to the LCO2 Tank Project Development, which is offset by the increase of $228,092 in income received for technical services provided by Yinson to the project. A reduction of $107,079 in Australian R&D grant income given the reduction in R&D activities based out of Australia; and; An increase in share-based payments of $384,882. At 31 December 2025, the Consolidated Entity had cash and cash equivalents of $545,093 (30 June 2025 $330,828) plus restricted cash of $187,650 (30 June 2025 $219,220). REVIEW OF OPERATIONS Overview During the half-year ended 31 December 2025, Provaris delivered steady progress across its compressed its position within emerging Nordic and European hydrogen and carbon-capture supply chains. The period saw continued development of the Robotics and Innovation Centre to fabricate the H2 prototype tank in order to progress towards testing and approvals, expansion of commercial frameworks for future H2Neo carrier deployment, and also support a testing program for -scale in partnership with Yinson Production. 1. advanced during the period with technical due-diligence workshops completed in Tokyo during the September quarter, with work initiated to refine time-charter structures for European hydrogen import markets. DIRECTORS REPORT 4 4 In November Innovation facility in Fiskå. During these meetings, technical progress on the H prototype tank was reviewed, and further alignment was reached on commercial and ownership structures for H2Neo carriers. Joint development efforts remain on track towards the readiness of hydrogen shipping services in 2026. 2. Nordic & European Hydrogen Supply Chain Development Provaris continued to build momentum across its Nordic and European hydrogen initiatives. Engagement with Norwegian hydrogen developers progressed, with project partners awaiting final grid-power allocations needed to advance engineering studies and offtake planning. Supply from the Nordic region continues to remain our proprietary focus given the advantages of both supply cost and shipping distance. Discussions with German and Northern European stakeholders continued to refine import requirements for future compressed hydrogen shipping using H2Neo carriers. FjordH2 Collaboration & Term Sheet Extensions The Collaboration Agreement with Norwegian Hydrogen AS for development of the FjordH2 export project was renewed for 2026. The hydrogen supply and shipping Term Sheet with Uniper Global Commodities and Norwegian Hydrogen AS was extended, supporting ongoing design and commercial readiness for compressed hydrogen exports. 3. Technology & Product Development Robotics & Innovation Centre Fiskå, Norway quarter. Fabrication of the H prototype tank recommenced, with testing scheduled for Q1 2026 to support Class approval of the H2Neo carrier. During the December quarter, further development of testing procedures and fabrication of design components will utilise the robotic cell in support of FEED completion and future LCO tank production with a third-party fabricator. 4. LCO Technology Development Provaris advanced a major strategic program under its Joint Development Agreement (JDA) with Yinson Production AS, targeting the development and commercialisation of next-generation large-scale liquid CO (LCO ) shipping and storage systems. Joint Development Agreement with Yinson The 24-month JDA provides for Yinson to fund the LCO tank development program, while Provaris contributes engineering capability and background IP. Both parties hold 50/50 ownership of all foreground IP generated under the agreement, and to date both have fully complied with all JDA obligations. The design and development of new large-scale tanks are seen as critical to the commercialisation of CO2 -scale LCO2 tank design at 3-4x the capacity of existing Type C tanks is to reduce the number of tanks required for FSIU and large scale LCO2 carriers. The benefits will result in lower capital cost for vessels (smaller hill dimensions, improved hull utilisation, and fewer process systems) and lower operating cost (simplified operations and maintenance), with the goal to deliver lower cost per tonne of LCO transported. In June 2025, Provaris and Yinson completed Structural Design Report for the LCO tank design, and commenced an ongoing review with DNV, a Marine Classification Society, for future Class approvals. DIRECTORS REPORT 5 5 LCO2 Tank Project Progress & FEED Technical Milestones Provaris continued the next stage of LCO2 Tank development with the decision to start Front End Engineering Design (FEED) with completion of Phase 1 on time and within budget in January 2026. Yinson has since authorised progression of FEED Phase 2, with completion targeted for June 2026 with funding provided by Yinson under the JDA. The FEED program also includes an engagement with marine classification society DNV for Class Approvals Establishment of a Joint Venture Company for Commercialisation Provaris and Yinson have commenced the development of a joint venture company and related agreements to advance global commercial opportunities for LCO storage and transportation solutions. Incorporation and operations of the new joint venture will be established post the successful completion of the FEED stage. Opportunities for tanks include FSIU, CO2 carriers, and barge storage facilities. 6. Outlook Provaris enters 2026 with strengthened commercial momentum and expanding technical capability across both hydrogen and CO2 storage and transport solutions, supported by major partners for commercialisation. Key near-term priorities include: Completion of H prototype fabrication, tank testing and H2Neo Class approval. Continued commercial development of H shipping frameworks with K Line. Progression of Nordic H projects and European offtake discussions. Finalisation of FEED Phase 2 for the 25,000 m³ LCO tank and advancement of the associated JV with Yinson. These initiatives collectively position the Company to capitalise on critical requirement for cost-effective storage transport supply chains across Europe and beyond to meet decarbonisation targets. CORPORATE ACTIONS Shareholder and Capital Management Activities A $1.08 million capital raising by way of via a placement to sophisticated institutional investors was completed in July 2025. Directors subscribed for $52,000, pending shareholder approval at the Annual General Meeting held on 22 October 2025. A $1 million capital raising by way of via a placement to sophisticated institutional investors was completed in August 2025. A $500,000 capital raising via a placement to sophisticated institutional investors was completed in December 2025. Directors subscribed for $125,000, pending shareholder approval at a General Meeting scheduled for 19 March 2026. A convertible bond facility (Facility) with Macquarie Bank Ltd remains available with $2.5 million undrawn. A first tranche of $500,000 Convertible Bonds was drawn as part of the Facility agreements, with a two-year term to maturity. As at the date of this report the face value of the outstanding first tranche convertible bonds is currently $200,000. On 1 March 2026, 23,750,000 unlisted options with an exercise price of $0.075 per fully paid ordinary share are due to expire. DIRECTORS REPORT 6 6 Share Capital Movements Date Details 10 July 2025 Issued 79,046,156 fully paid ordinary shares July 2025 placement 18 July 2025 Issued 1,000,000 fully paid ordinary shares on the vesting of employee performance rights issued 8 April 2025 25 July 2025 Issued 1,590,910 nominee on conversion of convertible bonds 20 August 2025 Issued 13,276,138 fully paid ordinary shares pursuant to Directors placement 1 September 2025 Issued 52,631,582 fully paid ordinary shares August 2025 placement 15 September 2025 Issued 10,000,000 fully paid ordinary shares to Yinson Production at no and market commercialisation support in relation to the joint CO2 tank development collaboration 31 October 2025 Issued 9,000,000 fully paid ordinary shares Employee Share Plan 28 November 2025 Issued 4 Employee Share Plan 23 December 2025 Issued 29,230,769 December 2025 placement EVENTS SUBSEQUENT TO BALANCE DATE In February 2026, Provaris, Memorandum of Understanding (MOU) with Himile Heavy Equipment Co. Ltd (Himile) to assess fabrication In February 2026, Provaris Production, has successfully completed the Phase 1 delivery of the LCO2 Tank Front End Engineering and Design (FEED) program on time and within budget during January 2026. Phase 2 was awarded by Yinson, with the target for completion in Jube 2026. No other matter or circumstance has arisen since the end of the financial period which significantly affected or may significantly affect the operations of the Consolidated Entity, the results of those operations, or the state of affairs of the Consolidated Entity in subsequent financial periods. DIRECTORS REPORT 7 7 AUDITORS INDEPENDENCE DECLARATION In accordance with the Corporations Act 2001 section 307C the auditors of the Company have provided a signed auditors independence declaration to the directors in relation to the review for the half-year ended 31 December 2025. This declaration is set out on page 19. Signed in accordance with a resolution of the directors. Martin Carolan Managing Director and CEO 27 February 2026 Sydney, New South Wales DIRECTORS DECLARATION 8 8 The directors of Provaris Energy Ltd a) in their opinion the accompanying financial statements and notes of the Consolidated Entity; i) comply with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations 2001; and ii) give a true and fair view of the Consolidated Entity's financial position as at 31 December 2025 and its performance for the half-year ended on that date; and b) in their opinion, subject to the matters set out in Note 1 to the financial statements, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. This declaration is made in accordance with a resolution of the Board of Directors and is signed for and on behalf of the directors by: Martin Carolan Managing Director and CEO 27 February 2026 Sydney, New South Wales CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 The accompanying notes form part of this financial report 9 Half-Year to 31 December 2025 Half-Year to 31 December 2024 Note $ $ Income from non-operating activities 2 592,626 426,109 Corporate and administrative expenses (1,696,609) (1,635,904) Project development (597,422) (97,779) Share based payments 2 (388,438) (3,556) LOSS BEFORE INCOME TAX (2,089,843) (1,311,130) Income tax - - LOSS AFTER INCOME TAX (2,089,843) (1,311,130) NET LOSS FOR THE PERIOD (2,089,843) (1,311,130) 21BOTHER COMPREHENSIVE LOSS Exchange differences on translating foreign operations (20,144) (1,161) OTHER COMPREHENSIVE LOSS AFTER INCOME TAX (20,144) (1,161) TOTAL COMPREHENSIVE LOSS FOR THE PERIOD (2,109,987) (1,312,291) BASIC LOSS PER SHARE (CENTS PER SHARE) (0.24) (0.20) DILUTED LOSS PER SHARE (CENTS PER SHARE) (0.24) (0.20) CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025 The accompanying notes form part of this financial report 10 31 December 30 June 2025 2025 Note $ $ 8BASSETS 9BCURRENT ASSETS Cash and cash equivalents 3 545,093 330,828 Security deposit 187,650 219,220 Prepayments 186,685 119,013 Other current assets 158,395 66,902 22BTOTAL CURRENT ASSETS 1,077,823 735,963 9BNON-CURRENT ASSETS Property, plant and equipment 4 390,336 - 22BTOTAL NON-CURRENT ASSETS 390,336 - TOTAL ASSETS 1,468,159 735,963 11BLIABILITIES 12BCURRENT LIABILITIES Trade and other payables 5 424,239 446,221 Provision for annual leave 176,185 142,944 Convertible bonds 186,500 198,202 Convertible options 4,755 5,439 TOTAL CURRENT LIABILITIES 791,679 792,806 TOTAL LIABILITIES 791,679 792,806 13BNET ASSETS 676,480 (56,843) 14BEQUITY Issued capital 6 26,048,419 23,276,547 Reserves 7 4,054,178 4,002,884 Accumulated losses (29,426,117) (27,336,274) 15BTOTAL EQUITY 676,480 (56,843) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 The accompanying notes form part of this financial report 11 Half-Year to 31 December 2025 Half-Year to 31 December 2024 Note $ $ 16BCASH FLOWS FROM OPERATING ACTIVITIES Other receipts 619,823 347,790 Payments to suppliers & employees (1,881,815) (1,594,057) Project development (549,142) (139,613) Interest received 4,757 10,245 Research and development tax concession rebate 40,245 - NET CASH USED IN OPERATING ACTIVITIES (1,766,132) (1,375,635) 18BCASH FLOWS FROM INVESTING ACTIVITIES Payments for property, plant and equipment (411,183) - Receipts from sale of intangibles 51,766 - (Increase)/decrease in security deposit 31,570 (9,350) NET CASH USED IN INVESTING ACTIVITIES (327,847) (9,350) 18BCASH FLOWS FROM FINANCING ACTIVITIES Proceeds from equity issues 2,561,638 2,072,765 Capital raising costs (248,130) (235,625) Interest paid (5,264) (8,697) NET CASH FROM FINANCING ACTIVITIES 2,308,244 1,828,443 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 214,265 443,458 Cash and cash equivalents at beginning of period 330,828 743,929 19BCASH AND CASH EQUIVALENTS AT END OF PERIOD 3 545,093 1,187,387 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 The accompanying notes form part of this financial report 12 Issued Capital Share- Based Payments Reserve Currency Translation Reserve Accumulated Losses Total Equity $ $ $ $ $ 32BAt 1 July 2025 23,276,547 4,022,533 (19,649) (27,336,274) (56,843) Other comprehensive loss - - (20,144) - (20,144) Loss for period - - - (2,089,843) (2,089,843) TOTAL COMPREHENSIVE LOSS FOR THE PERIOD - - (20,144) (2,089,843) (2,109,987) 23BTRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS Issue of shares under placement 2,969,638 - - - 2,969,638 Issue of shares conversion of performance rights 9,000 (9,000) - - - Issue of shares conversion of bonds 41,364 - - - 41,364 Issue of performance rights - 80,438 - - 80,438 Issue costs during period (248,130) - - - (248,130) AT 31 DECEMBER 2025 26,048,419 4,093,971 (39,793) (29,426,117) 676,480 32BAT 1 JULY 2024 21,077,939 4,003,236 (40,215) (24,812,396) 228,564 Other comprehensive loss - - (1,161) - (1,161) Loss for period - - - (1,311,130) (1,311,130) Total comprehensive loss for the period - - (1,161) (1,311,130) (1,312,291) 23BTRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS Issue of shares under purchase plan 1,000,000 - - - 1,000,000 Issue of shares under placement 1,071,970 - - - 1,071,970 Issue of shares conversion of options 795 - - - 795 Issue of shares conversion of bonds 203,714 - - - 203,714 Issue of performance rights - 3,556 - - 3,556 Issue costs of share purchase plan (166,547) (166,547) Issue costs of share placement (73,087) - - - (73,087) At 31 December 2024 23,114,784 4,006,792 (41,376) (26,123,526) 956,674 NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 13 NOTE 1. BASIS OF PREPARATION OF THE HALF-YEAR FINANCIAL REPORT This interim condensed financial report for the interim half-year reporting period ended 31 December 2025 has been prepared in accordance with requirements of the Corporations Act 2001 (Cth) and Australian Accounting Standard AASB 134: Interim Financial Reporting and was authorised for issue in accordance with a resolution of the directors on 27 February 2026. The Company is a listed public company limited by shares, incorporated and domiciled in Australia. The registered office is located at Level 14, 234 George Street, Sydney NSW 2000. The Group is advancing proprietary tank designs for storage, maritime gas carriers and integrated supply chain development. Principle activities include (i) supporting the development of hydrogen production and export projects in Europe, with a focus on local collaborations in Norway; (ii) the design, engineering and Maritime Class Approvals for its proprietary H2Neo Carrier and H2Leo Storage Barge for the marine storage and transportation of compressed hydrogen; and (iii) develop transport and offshore storage and injection applications. The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the annual financial statements of the Company for the year ended 30 June 2025, together with any public announcements made during the half-year. The same accounting policies and methods of computation have been followed in this interim financial report as were applied in the most recent annual financial statements and in the corresponding interim reporting period, except those accounting policies which have changed as a result of the adoption of new and revised accounting standards and interpretations as described below. Property, plant and equipment All property, plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred. Depreciation on assets is calculated using the straight line method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives as follows: Plant and equipment 5 years adjusted if appropriate, at each balance sheet date. carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in the income statement. NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 14 Going concern basis for preparation of financial statements The Group incurred a loss after tax of $2,089,843 (2024: $1,311,130) and had cash outflows from operations of $1,766,132 (2024: $1,375,635) for the half year ended 31 December 2025. The Group held cash and cash equivalents at 31 December 2025 of $545,093 (30 June 2025: $330,828). 28 February 2027 reflects that the Group will require additional working capital during this period to enable it to continue to meet its ongoing operational and project expenditure commitments. The Directors are satisfied that the Group will be able to secure additional working capital as required by raising additional equity through: $125,000 contributed equity by the Directors subsequent to period end; agreement of the Company and Macquarie to further drawdowns; Advanced discussion with a strategic investor on key terms for an investment into Provaris, through a placement of new shares and including the potential for further investments subject to agreement on Company milestones; and Accordingly, the Directors consider it appropriate to prepare the consolidated financial statements on a going concern basis. In the event the Group is unable to raise additional working capital to meet its ongoing operational and project expenditure commitments as and when required, there is material uncertainty as to whether the Group will be able to meet its debts as and when they fall due and thus continue as a going concern and, therefore whether it will be able to realise its assets and discharge its liabilities in the normal course of business at the amounts stated in the consolidated financial statements. No adjustments have been made relating to the recoverability and classification of recorded asset amounts nor to the amounts or classification of liabilities that might be necessary should the Group not continue as a going concern. New or amended Accounting Standards or Interpretations adopted The Group has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board that are mandatory for the current reporting period and are relevant to the Group. The adoption of the new and amended accounting standards and interpretations had no material impact on the Group. Any new, revised or amending Accounting Standards of Interpretations that are not yet mandatory have not been adopted early. NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 15 Half-Year to 31 December 2025 Half-Year to 31 December 2024 $ $ 35BNOTE 2. INCOME AND EXPENSES 34B 25BNON-OPERATING ACTIVITIES Technical service fee (a) 495,858 267,766 Interest received 4,757 11,019 Profit on sale of assets 51,766 - Grant income 40,245 147,324 TOTAL INCOME FROM NON-OPERATING ACTIVITIES 592,626 426,109 (a) During the period the Group provided certain technical services, income from which has been recognised in accordance with AASB 15: Revenue from Contracts with Customers 26BCORPORATE AND ADMINISTRATIVE EXPENSES INCLUDE: 1,087,654 977,146 Depreciation 20,847 - Share based payments expense 388,438 3,556 31 December 2025 $ 30 June 2025 $ 36BNOTE 3. CASH AND CASH EQUIVALENTS Cash at bank 545,093 330,828 545,093 330,828 36BNOTE 4. PROPERTY, PLANT AND EQUIPMENT Opening net book amount - - Additions 411,183 - Disposals - - Depreciation charge (20,847) - 390,336 - 38BNOTE 5. TRADE AND OTHER PAYABLES Trade creditors 200,048 168,396 Sundry creditors and accrued expenses 224,191 277,825 424,239 446,221 NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 16 39BNOTE 6. ISSUED CAPITAL 31 December 2025 $ 30 June 2025 $ 27BORDINARY SHARES 897,776,837 (30 June 2025: 698,001,282) fully paid ordinary shares 26,048,419 23,276,547 26,048,419 23,276,547 29BMOVEMENTS IN ORDINARY SHARES Date Number of Shares $ Opening balance 01-Jul-24 600,616,703 21,077,939 Share purchase plan at $0.04 per share 11-Jul-24 25,000,000 1,000,000 Less: Issue costs of share purchase plan 12-Jul-24 - (166,547) Shares issued on conversion of bonds 12-Jul-24 2,158,216 66,905 Shares issued on conversion of bonds 30-Jul-24 1,136,363 28,409 Shares issued on conversion of options 23-Aug-24 10,600 795 Shares issued on conversion of bonds 6-Sept-24 2,045,454 47,045 Shares issued on conversion of bonds 17-Oct-24 1,136,363 31,818 Shares issued on conversion of bonds 18-Oct-24 1,181,474 29,537 Share placement at $0.02 per share 13-Nov-24 53,598,485 1,071,970 Less: Issue costs of share placement 13-Nov-24 - (73,087) Balance at 31 December 2024 686,883,658 23,114,784 Share placement at $0.02 per share 24-Feb-25 6,250,000 125,000 Share placement at $0.011 per share 17-Apr-25 4,867,624 53,544 Less: Issue costs - (16,781) Balance at 30 June 2025 698,001,282 23,276,547 Share placement at $0.013 per share 10-Jul-25 79,046,156 1,027,600 Shares issued on conversion of performance rights 18-Jul-24 1,000,000 9,000 Shares issued on conversion of bonds 25-Jul-25 1,590,910 41,364 Share placement at $0.013 per share 20-Aug-25 4,000,000 52,000 Share placement at $0.011 per share 20-Aug-25 9,276,138 102,038 Share placement at $0.019 per share 1-Sep-25 52,631,582 1,000,000 Share placement at $0.02 per share 15-Sep-25 10,000,000 200,000 Share placement at $0.016 per share 31-Oct-25 9,000,000 144,000 Share placement at $0.016 per share 28-Nov-25 4,000,000 64,000 Share placement at $0.013 per share 23-Dec-25 29,230,769 380,000 Less: Issue costs during period - (248,130) AT THE END OF THE FINANCIAL PERIOD 31-Dec-25 897,776,837 26,048,419 NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 17 PERFORMANCE SHARES There are no unvested performance shares at 31 December 2025 (31 December 2024 Nil). 31 December 2025 30 June 2025 $ $ 40BNOTE 7. RESERVES Share based payments reserve 4,093,971 4,022,533 Currency translation reserve (39,793) (19,649) 4,054,178 4,002,884 30BMOVEMENTS IN SHARE BASED PAYMENTS RESERVE At the beginning of the financial period 4,022,533 4,003,236 Expense of PV1AM Performance Rights to employees - 3,556 Expense of PV1AF Performance Rights to employees 80,438 15,741 Conversion of PV1AF Performance Rights (9,000) - At the end of the period 4,093,971 4,022,533 31BMOVEMENTS IN CURRENCY TRANSLATION RESERVE At the beginning of the financial period (19,649) (40,215) Consolidation of foreign currency subsidiaries (20,144) 20,566 AT THE END OF THE PERIOD (39,793) (19,649) 40BNOTE 8. FINANCIAL INSTRUMENTS (a) Overview of Financial Instruments Set out below is an overview of the financial instruments held by the Group as at 31 December 2025: 31 December 2025 30 June 2025 $ $ 41BCASH AND RECEIVABLES Cash and cash equivalents 545,093 330,828 Security deposit 187,650 219,220 Other current assets 158,395 66,902 891,138 616,950 NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 18 41BTRADE AND OTHER PAYABLES Trade creditors 200,048 168,396 Sundry creditors and accruals 224,191 277,825 424,239 446,221 (b) Fair values Due to the short-term nature of the financial assets and liabilities, the carrying amounts approximate fair value. NOTE 9. SEGMENT INFORMATION The Group has only one operating segment, being the development of integrated compressed hydrogen and carbon dioxide supply chains. NOTE 10. CONTINGENT LIABILITIES There have been no significant changes in contingent liabilities since the last annual reporting date (30 June 2025: None). NOTE 11. EVENTS SUBSEQUENT TO BALANCE DATE Memorandum of Understanding (MOU) with Himile Heavy Equipment Co. Ltd (Himile) to assess fabrication uring site in Rushan, China. In February 2026, Provaris Production, has successfully completed the Phase 1 delivery of the LCO2 Tank Front End Engineering and Design (FEED) program on time and within budget during January 2026. Phase 2 was awarded by Yinson, with the target for completion in Jube 2026. No other matter or circumstance has arisen since the end of the financial period which significantly affected or may significantly affect the operations of the Consolidated Entity, the results of those operations, or the state of affairs of the Consolidated Entity in subsequent financial periods. Liability limited by a sche