Announcement PDF Unique IP for Hydrogen & CO₂ Infrastructure — Capital-Light Licensing Model — May 2026 www.provaris.energy ASX.PV1 Fiskåbygd, Norway – Robotic Innovation Centre This presentation and these materials (together the “Presentation”) have been prepared by Provaris Energy Ltd ACN 109 213 470 (ASX:PV1) (“Provaris”) as a summary of Provaris’ operations and results for the purposes of a presentation to existing or potential investors in Provaris. By participating in this Presentation or reviewing or retaining these materials, you acknowledge and represent that you have read, understood and accepted the terms of this Important Notice and Disclaimer. This Presentation should be read in conjunction with Provaris’ December 2025 Half-Year Report lodged with the Australian Securities Exchange (“ASX”) on 27 February 2026 and other periodic and continuous disclosure announcements that have been lodged by Provaris with the ASX. This Presentation may contain forward looking statements concerning projected costs, approval timelines, construction timelines, earnings, revenue, growth, outlook or other matters (“Projections”). Any such Projections are based on assumptions which may differ materially from the actual circumstances which may arise and actual results may vary materially from Projections. You should not place undue reliance on any Projections, which are based only on current expectations and the information available to Provaris. 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Important notice and disclaimer 2 Investment Highlights Unique IP Ready for Licensing – Capital-Light Revenue Model Patented compressed H2 and LCO2 tank and ship designs generate license fees at FID/construction — no capex burden on Provaris. Proven industry model. Bankable Partners Committed – Yinson (CO2), K LINE & Uniper (H2) Yinson funding CO2 development through JDA and proposed JV; K LINE providing shipping expertise and capital; Uniper offtake term sheet secured. Technical De-Risking Near Complete – Final Milestones in 2026 H2 prototype tank build/test and final Class Approvals Q3-2026. CO2 FEED Phase 2 and DNV GASA approval on track for mid-2026. Strategic location in Norway with robotic fabrication facility for demonstration proximity to European markets. Policy Tailwinds Creating Mandated Demand Germany’s RFNBO law (May 2026) mandates renewable hydrogen in transport — creating legislated demand, not aspirational targets. Europe leading CCS investment with €100B Clean Industrial Deal. Nordic supply + Provaris shipping = clear pathway to market. Commercialisation Targeted 2027 – First License Revenue in Sight Maiden shipyard order and license fees targeted 2027. CO2 accelerated to align with Yinson’s technical-FID for CCS project. 3 Multiple valuation catalysts through to end of 2026 H2 and CO2 technical and commercial catalysts running in parallel with de-risking milestones supporting revenue visibility at multiples of current valuation. Ordinary Shares on Issue (PV1.ASX) 1,041 M Market Capitalisation (25 May 2026) $ 10 M Cash (31 March 2026) $ 1.1 M Unlisted Options 2 Performance Rights 3 83.5 M 26 M Shareholding (Undiluted) NOTES: 1. Unlisted Options: 8.3M at 7.5c Expiry Jul 2026; 4M at 6.6c, Expiry May 2027; 71.3 M at 3c, Expiry Feb 2027. 2. Performance Rights held by the Board and Management with conversion on company technical and commercial milestones. Capital Structure 4 Corporate Overview – Provaris Energy (Sydney & Oslo) Experienced Board & Management with long-term shareholder alignment 7% 1% 6% 25% 61% Board & Management Yinson Production AS Institutions HNW/Family Office Retail Top 20 Holders 38% Top 50 Holders 47% Martin Carolan MD & CEO Commercial & Capital Markets Greg Martin Chairman Energy,, Infrastructure, Governance Andrew Pickering Non-executive Director Shipping, Newbuilds, Tankers, LNG David Palmer Non-executive Director Shipping, Commercial, Financing Per Roed Chief Technical Officer Newbuilds, LNG, Ports, Operations Norman Marshall Group Commercial Manager Legal, Commercial, Finance Business Overview Hydrogen (H2) CO2 Compressed H2 Shipping & Supply Chain Development Supported by: Barge storage Offshore FSIU Carriers Joint Development of large-scale tanks for Offshore and Maritime solutions (LCO2, NH3, LNG) Compressed H2 Shipping Enabling first-mover, energy efficient and cost- effective regional hydrogen shipping. Next generation LCO2 tanks Offers increased volume, lower steel weights, to solve constraints of existing tanks across multiple markets. 5 Unique IP for shipping & storage infrastructure (Patents, Engineering, Class Approvals, Robotic Fabrication) Revenue model: Licensing our technology generates early revenue, aligned with FID, and avoids large upfront capital costs 6 2025 achievements establish a platform for re-rating technical and commercial milestones in 2026 Milestones marking shift towards commercialization phase; CO2 closing the gap on H2 Advanced development with supportive Industrial Partners validates commercial pathway AiP Class Approval (2019) FEED Design Approval (2021) Collaboration with Norwegian H2 (2023) MOUs with German Utilities (2023) Uniper Term Sheet for Offtake (2025) Tri-party Collaboration with Uniper (2024) H2 Project FID (2027-8) Commence Operations (2030-31) Prototype Tank Design (2023) H2 Prototype Tank Build/Test & Final Class Approvals (mid-2026) MOU with “K” LINE for Commercialisation (2025) Initial Collaboration with Yinson (20024) Joint Development Agreement (2024) FEED commenced (2025) Completion Concept Design (2025) FEED Completion (mid-2026) AiP Class Approval (2019) Final (GASA) Approval (mid-2026) JV Co. for Tank Commercialisation (2026) Shipyard Order & License Fees (2027) JV Co. for Tank Commercialisation (2026) License Deal for Tank Design (2026-7) 7 Decarbonisation is not achievable without CCS and hydrogen – at scale! No longer hype, transitioning to core capex, and critical to enabling industries to achieve emission reduction targets > Investment must reach ~US$4 trillion by 2030 to stay on a 1.5°C pathway.1 > 2025 investment reached a record $2.3 trillion, an 8% increase over 2024.2 > Europe is the leading market with consecutive investment years exceeded investment in fossil-fuel supply. Note: 1. (IEA, 2025); 2. (BNEF, 2026); 3. (IEA, McKinsey) > Clean Industrial Deal (2025) provides €100 billion to support clean manufacturing and industrial decarbonization. > Hard-to-abate sectors (~25–30% of EU emissions) cannot achieve mandated targets without low-carbon molecules and CCS storage. (Steel, Refineries, Chemicals, Shipping, Aviation) > Germany has locked in laws (May 2026) enforcing quotas for ‘real’ hydrogen demand starting with Transport sector Europe Leads on Binding Decarbonisation Policy Energy Transition Remains Key Investment Thematic Focus Near-Term Long-Term CCS Avoiding emissions and the earliest pathway to investment returns and near-term contracted revenue Proven technologies; compliance-driven infrastructure that benefits from carbon pricing, tax credits, and regulation Extends life of existing assets; helps hard-to-abate sectors manage risk; must reach scale to lower costs Hydrogen Reducing emissions with longer-term growth potential due to current cost and complexity challenges to scale Must be affordable; secure committed industrial buyers; requires efficient solutions while building infrastructure Global export markets, seasonal energy storage, large industries (steel, chemicals, shipping, aviation, power) reignites import-driven demand Quota requires 1.6 million tons of RFNBO (renewable) H2 use by 2040 – with penalties of €14.4 per kilogram of H2  Bundesrat approved RFNBO hydrogen mandate 8 May 2026  Mandatory use in transport fuels:  0.1% (2026) → 1.5% (2030) → 10% (2040) Demand is now legislated Policy Shift to Mandated Law Why It Matters  Hydrogen demand shifts from policy to obligation  Transport becomes a real demand sector  Immediate need for compliant supply from 2026 Supply Reality  High cost of EU production (BloombergNEF)  Europe expected to fall short of supply targets  Imports required to meet demand Mandates = supply deficit in 2030 growing Immediate Market Impact Nordic Supply Advantage  Low-cost renewable energy  Close proximity to Germany  RFNBO-compliant production Provaris Solution  Compressed H2 shipping – lowest delivered cost  Direct molecule delivery (no conversion loss)  Flexible, regional supply chains  Enables early-stage hydrogen trade Provaris Opportunity Germany’s transport mandate creates guaranteed hydrogen demand — and imports will be essential to supply it. Nordic hydrogen supply + Provaris shipping = clear pathway to market Penalty, €14 Cost, €7 0 5 10 15 20 0 70 140 210 280 RFNBO quotas BNEF supply forecast kt-H2 €/kg H2 Supply vs. demand, RFNBO penalty vs. cost of green H2, 2030 8 Deliver 50% more hydrogen +20% lower delivered cost 20% reduction in capital intensity 10x reduction in energy loss Germany Spain Finland Norway 9 Norway • Norway’s grid supply 98% renewable sources = high electrolyser utilisation • Industrial PPA €40-50/MWh • Hydrogen supply ~EUR 4-5/kg FOB* • RE PPA €50-100/MWh • Domestic green hydrogen supply ~EUR 9-11/kg * • +2Mtpa (2030); +70% Germany’s demand to be met through imports • Infrastructure build-out underway Source: : Provaris Energy; BloombergNEF Cost-advantaged Nordic supply base — Europe’s lowest-cost renewable power, proximity to key demand centres, and RFNBO-compliant production secure a durable competitive moat. De-risked demand with contracted offtake — MOUs with major German utilities, anchored by a signed term sheet with Uniper. Capital-light logistics via “K” LINE partnership — shipping solution covering financing, vessel ownership, and operations, reducing capital intensity and execution risk. Scalable, replicable platform — portfolio of supply chain projects designed to replicate across the Nordic–European corridor, driving growth and margin expansion. supply to Europe Established collaborations with industrial partners Germany Benefits of compression establish high energy efficiency = lowest regional transport cost supply chain Germany Norway Rotterdam FjordH2 Export Project (Ålesund, Norway) 10 • Responsible for H2 supply • ~34,000 tonnes per annum RFNBO compliant H2 • Grid Power the key to low cost H2 (99% Hydropower) • Land secured; advanced permitting; community engagement; pending final Grid Reservation • Offtake and nominate import location • Term Sheet signed for 10-year term (+5 yr options); • Fixed price DES; Take-or-pay obligations • Target first cargos 2030 • Ownership and operator of maritime fleet • 2* H2Neo carriers and 1* H2Leo barge for loading storage • Long-term charter aligned to Hydrogen SPA tenure (+10yrs) • Provaris to receive License Fees and equity share of carriers • Supply: Grid capacity reservation & PPA terms • Shipping: Key Terms for Shipping Time-Charter; Shipyard Newbuild terms to confirm capex • Offtake: Mature Term Sheet into Conditional Hydrogen SPA; Additional offtake De-risking Milestones in 2026 Term sheet with Uniper: ~34,000 tpa RFNBO-compliant supply from Norway, aligned to German 2030 deficit Source: Norwegian Hydrogen AS H2 Supply Hydrogen Supply H2 Shipping H2 Import + 650 N.miles 11 early cash flow without large-scale capex Capital efficient growth model through upfront license fees + equity share in fleet, without owning ships Illustrative Returns (2 x H2Neo carriers & 1 H2Leo barge):^ Technology License and Origination Fee Income per supply chain project with a binding 15yr Time Charter; and no capex contributions by Provaris. Per H2 Supply Project 1 Income USD Million NPV8 at FID USD Million Technology License Fees 2 16.5 14.4 Equity share of Time Charter Fees 3 18.0 7.9 Total Fees Per Project 34.5 22.3 ~54 (AUD M) ~35 (AUD M) ^ Notes: 1. Supply Project comprises of 2 x H2Neo carrier and 1 x H2Leo barge. All fees allow delivered cost estimates negotiated for delivered cost to be maintained in Term Sheet discussions. 2. The technology license fee is based on Clarksons Norway AS market knowledge on LNG tank containment license fees and industry charter models. Fee is based on newbuild price of USD 125 million per H2Neo carrier and USD 80 million for H2Leo barge. Fee payable in milestones over 30 months from signing Shipbuild Contract. Fees are pre-tax. 3. Based on an illustrative charter model developed with Clarksons Norway AS, which estimates a ‘Bareboat Charter’ rate of ~USD 51,000/day for each H2Neo carrier and USD 32,000/day for H2Leo barge (excluding O&M, commissions, port fees and fuel consumption) to deliver shipping investors a target levered equity rate of return of ~15%, over 15 years, 70% gearing. FID 2026. Fees are pre-tax. Example for each H2 supply chain project Technology License Fee Origination Fee 5% as carried equity Ownership Interest in each the shipping fleet • Experienced ship owner (“K” LINE) or SPV to finance and operate the fleet. Provaris retains option to co-invest and increase equity ownership. • Provides long-term cash flows (linked to Time Charter Contract). 5% of the Capex for Newbuild Order Capex (H2Neo carrier(s) & H2Leo barge) for proprietary ship and tank design • Based on proven LNG tank containment revenue model. • Provides early cash flow and revenue payments during construction. > Provaris applying an industry proven license model where revenue is aligned with a project FID decision. 0.0 1.0 2.0 3.0 4.0 5.0 6.0 Year 1 Year 2 Year 3 Year 4 Year 5 …..... Year 15 USD Millions Technology Licence Fee Equity Share (Time Charter) Technology Fee Paid (over 30mths construction) Post-FID Cash flows USD 16M Share of 15yr Time Charter Fees USD 18M Advanced design and approvals for H2 carrier provides the lowest regional transport cost Approved FEED design package by Class with a ‘Construction Ready’ approval pending H2 Prototype Tank completion Proprietary Design 27,000m³ | 450t net | 250 Barg | No boil-off  H2Neo Compressed Hydrogen Carrier – purpose-built design with closed containment for zero boil-off losses  First Mover Advantage: Four years of IP development; US Patent granted  Standard MR Tanker hull: Hybrid electric propulsion (LNG, Battery & H2 Fuel Cell)  K LINE partnership provides ownership, financing, newbuild and long-term charter operations Advanced Development & Approvals FEED Approved | Class Approved | Prototype Q2 2026  Completed FEED & Design Approval by Class (2022); comprehensive risk and safety studies completed  Prototype Tank fabrication ongoing, followed by testing Q3 2026  ‘Approval to Construct’ from Class – the key technical milestone confirming feasibility of design and construction  Unlocks commercialisation path and visibility of first license revenue Robotic Fabrication Key to IP Value | Lower Costs | Economic Returns  Robotic laser-hybrid welding proven to lower costs, increase productivity and reliability  Extends value of Proprietary IP – makes licensing model economically viable and repeatable at scale  Norway Innovation Centre: Installed robotic cell for fabricating Prototype Tank; ‘Digital Twin’ virtual fabrication capability  Enables economically viable fabrication that unlocks commercial returns through technology licensing Technical Partners & Advisors include: All design drawings are protected by copyright: ©2023 Provaris Energy Ltd Group 12 Established Robotic Cell Demonstrating Design IP and Laser-welding Robotic cell fabricating the H2 prototype tank demonstrates high efficiency of automation for using robotic plate handing and laser-welding with nanometer accuracy. Learnings being applied to CO2 tank designs. 13 13 All design drawings are protected by copyright: ©2023 Provaris Energy Ltd Group Robotic Cell: Cylinder and End-Cap Jigs with hydraulics to rotate tank Robotic Cell: Plate handling, mounting, tack welding and seem welds "K" LINE: Strategic shipping partner to finance, own, and operate H2Neo carriers Role, expertise, and relevance to Nordic hydrogen supply — accelerating Provaris’ Norway-to-Europe supply chain. Role:  MOU signed July 2025 — progressing to binding charter agreements  Finance, own, and operate H2Neo and H2Leo carriers under long-term charter  Access to Japan’s low-cost debt finance and Green Innovation Fund Expertise:  Global operator since 1919 — 448-vessel fleet, 90 in the energy sector, USD 7B revenue  Syndicate member for Japan’s LH2 Shipping  Completed H2Neo FEED review; advancing detailed charter terms and vessel specifications Relevance to Norway:  20 years operating gas carriers at Snøhvit LNG (Equinor) — deep Norway experience  Operator of specialised LCO₂ carriers for Northern Lights CCS project  Participated in Fiska (Norway) site visit; advancing SPC structure for vessel ownership Fleet focused on Decarbonization 14 Globel Fleet of Energy Vessels Site Visit : Yinson, “K” Line, Harbour Energy, 18 Nov 2025 “K” Line’s Corporate Officer, Kei Onishi: "We are pleased to collaborate with Provaris to advance a practical compressed hydrogen shipping solution from Norway. By leveraging our operational experience, we aim to support the development of hydrogen supply chain for Northern Europe.” Disruptive LCO2 designs reducing the cost per tonne of CO2 | Yinson Partnership: Tank design unlocks lower $/t CO2 across the supply chain: FSIU, Shipping, and Terminal Storage JDA with Yinson > Yinson Production AS – Global energy infrastructure leader (FPSOs, CCS, Renewables); 9 FSPOs; USD 2.5B revenue. > JDA (Aug 25) converting to 50/50 JV Co. Yinson funding development costs. JV NewCo will jointly own and license tank designs. > Focus on 25,000 cbm LP LCO2 tank for integration with Yinson’s FSIU. > Concept Selection extends to LCO2 carriers and terminal storage - material revenue upside. > New design unlocks lower $/t CO2 transport: larger tanks reduce vessel capex/opex through smaller hulls, improved utilisation, and fewer process systems. Yinson’s Full Supply Chain Commitment > Stella Maris CCS acquisition (2025): developing 10 Mtpa Havstjerne CCS, Norway’s continental shelf. • JV partner: Harbour Energy PLC; €200M EU Innovation grant funding • Material investment in pre-FEED studies and reservoir drilling in 2024 > Immediate market opportunity to commercialise tanks through FSIU design using new tanks. • FSIU: reduced from 16 to 4 tanks; shorter vessel; eliminated processing capex/opex > JDA aligned with Yinson’s technical ready FID timeline for late-2026. Tank Design Advanced to FEED  Concept Design completed March 2025 – demonstrated reduction in tank numbers and hull dimensions to save capex/opex. > FEED & Class Approval in-progress:  Phase 1 delivered January 2026 • Phase 2 completion June 2026: fabrication of test specimens at Provaris’ robotic cell facility in Norway > DNV (Class) GASA approval targeted mid-2026 (General Approval for Ship Application). > MOU with Himile to develop full-scale fabricationdesign, tank unit costs, and delivery timeline. 16 Source: Yinson, FSIU 100,000 cbm Source: Provaris Large-scale CO₂ storage set to materially improve efficiency and reduce cost per tonne relative to existing market offerings Capturing Technology In cooperation with and specific per emitter Transport CO₂ from Emitter to CO2T In cooperation with emitter (pipeline, truck, rail, barge, etc) Emitter capture, liquify and store in own CO2 tanks Collect CO2 and transport to CO2T or directly to injection location Collection CO2 Collection, Storage and Offloading (CO2T) Transportation LCO2-shuttle carriers Injection of CO2 Floating Storage Injection Unit Offshore Storage Reservoir Work in progress with appraisal drilling underway. Capturing Technology In cooperation with and specific per emitter Transport CO₂ from Emitter to CO2T In cooperation with emitter (pipeline, truck, rail, barge, etc) Emitter capture, liquify and store in own CO2 tanks Collect CO2 and transport to CO2T or directly to injection location Collection CO2 Collection, Storage and Offloading (CO2T) Transportation LCO2-shuttle carriers Injection of CO2 Floating Storage Injection Unit Offshore Storage Reservoir Work in progress with appraisal drilling underway. Source: Yinson Production AS. To get CSS costs down, large scale flexible solutions are required! Provaris tank achieves ‘Concept Selection’ for infrastructure planned to handle ≥ 10 mtpa of CO2 for the Havstjerne CCS project, Norway. Development Milestones for H2 & CO2 highlight extensive technical program de- risking commercial events in 2026-27 2026 Today Q3 Q4 Q1 Q2 Q3 Q4 Q`1 Q2 2025 Prototype & Class Approvals Testing Final Class Approval “K” Line & Shipyard H2Neo Newbuild Estimate 2027 Fabrication Charter Terms H2 2026 Today Q3 Q4 Q1 Q2 Q3 Q4 Q`1 Q2 2025 FEED - LCO2 25k Tank Class Approval (GASA) 2027 FEED Tank Fabrication Cost & Delivery (Himile) CO2 Phase 1 Phase 2 Tank Integration with FSIU FEED “Yinson” Technical FID Carriers & Terminals 18 Ship Ownership Model & Identification of suitable yards Tank Integration with LCO2 Carrier Note: All dates are indicative and subject to change based on Development Partner decisions and prioritisation of Provaris resources to align with commercial milestones. www.provaris.energy ASX.PV1 @ProvarisEnergy Provaris Energy Ltd. Sydney & Oslo info@provaris.energy Martin Carolan Managing Director & CEO mcarolan@provaris.energy Norm Marshall Company Secretary nmarshall@provaris.energy Contacts To join our InvestorHub Norway cements its leadership for Ideal geology and strategic proximity to major industrial emitters and sequestering CO2 for +25yrs > Northern Lights CCS: Europe’s first commercial cross-border offshore CCS injection project (Total, Equinor, Shell)  Offshore storage and injection 2.6km below seabed.  Phased operations 2024 (1.5 Mtpa); expanding to 5 Mtpa confirms transition to full-scale infrastructure. > LCO2 carriers operated by “K” Line; expansion by global shipowners including: “K” Line, MOL, MISC. > Strategic to EU industrial decarbonization and new CCS market. > Shipping distance from EU emitters, <1,000 Nm > 13 licenses awarded for CO2 injection on the Norwegian continental shelf. 20 Rising Confidence in CO₂ Shipping, Storage and Injection Northern Lights CCS Injection Project (5 Mtpa) Source: Yinson Production AS. “Companies enabling the transport and storage of captured CO₂ will be foundational to achieving 2030 and 2050 climate targets for the EU” (DNV, Sept 2025) Strong CO2 macro tailwinds attracting traditional energy majors and shipowners in a new maritime market - Europe the early-mover • Capture and storage capacity quadrupling by 2030 (DNV, Sept 2025) with Europe to surpass Nth America • Growth to focus on heavy industry… with capture capacity resulting in strong demand for CO2 storage and transport 62 +92 +58 +58 270 2024 2030 North America Europe Rest of the world + Project pipeline never been stronger + Government targets + Corporate commitments +/- Policy uncertainty Units: MtCO2/yr 87,600 58,500 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Compression Ammonia Energy Used in Compression ~3% Delivered Hydrogen Volume Energy Used in Ammonia Synthesis Delivered Hydrogen Volume (Cracked) Hydrogen Lost in Ammonia Cracking 50% more Hydrogen Sale Volume Delivered Hydrogen Volumes 540 MW Nordic Project (tpa) Regional supply model delivers Compression eliminates capital and energy intensive steps of alternative carriers 50% more gaseous hydrogen delivered to the customer (~3% used for compression vs +30% for ammonia) ~20% lower delivered cost (~€ 1.40/kg discount) 20% reduction in capital intensity (€/kg H2 delivered) 10x reduction in energy loss (when delivered as gaseous H2 modecules) 22 +30% energy loss Source: Provaris Energy, ASX release 2 Sept. 2024 “Studies reaffirms compressed H2 for low cost supply”. Outcomes for a 540MW renewable grid connected site, sailing 1,000 Nm, when compared to the ammonia supply chain (delivered as gas); Compression confirmed by Compressor OEMs; Excludes port owners' costs.