Provaris Energy (PV1.ASX) is developing proprietary maritime and offshore infrastructure technologies for storage and transport of renewable hydrogen and CO₂, targeting Europe’s emerging hydrogen import and carbon capture markets. The company is shifting from engineering and approvals to commercialisation via a capital-light licensing model, supported by partners including Yinson, K LINE, Uniper and Norwegian Hydrogen, with multiple technical and commercial catalysts over the next six months.

Private Placement Offer utilising the company’s Listing Rule 7.1 & 7.1a capacity to raise up to $1.5 million at an issue price of $0.0077. The Company retains the right to accept over subscriptions.

The issue price represents the following discounts to ASX market pricing per share:

• 14.5% discount to the Last Closing Price of $0.009
• 24.5% discount to the 15 Day VWAP of $0.01

The offer comes with a 1 for 3 free attaching unlisted options (Exercisable at $0.013, with 3-year expiry from date of issue.

The issuance of the options will be subject to shareholder approval at an upcoming general meeting.

Provaris Energy is advancing proprietary maritime and offshore infrastructure technology for the emerging hydrogen and carbon capture markets. It is developing storage and transport solutions for renewable hydrogen and CO₂, with a commercial focus on Europe where large-scale shipping and storage demand is emerging. The company is transitioning from engineering and approvals to commercialisation, targeting two key challenges: moving low cost Nordic hydrogen to European industrial hubs, and enabling storage, shipping and injection of captured CO₂ for large CCS projects. Provaris follows a capital-light licensing model, monetising proprietary tank and containment technologies through licence fees and long-term project participation, underpinned by partnerships with Yinson Production, K LINE, Uniper and Norwegian Hydrogen.

Proprietary Hydrogen & CO₂ Infrastructure Technology

• Patented H2 and LCO₂ containment systems targeting two rapidly emerging energy transition markets.

• Positioned as an infrastructure enabler rather than a commodity producer.

• Strategic partnerships with Yinson, K LINE, Uniper validate technology.

• LCO2 development partner Yinson is funding 100% of costs through to approvals.

Capital-Light Commercialisation Strategy

• Technology licence fees generated as projects progress through FID and vessel orders brings forward revenue and early cash flow.
• Long-term participation in infrastructure economics through carried equity interests in H2 carriers and barges.
• No requirement for Provaris to fund, own or operate major infrastructure assets.

Hydrogen

Q3 2026 – Hydrogen Prototype Tank Testing

• Validation of proprietary containment technology.
• Significant technical de-risking event.
• Supports progression to final approvals.

Q3-Q4 2026 – Final Class Approval for H2Neo Carrier

• Independent verification of design and construction feasibility.
• Critical milestone prior to vessel orders and commercial deployment.
• Establishes pathway toward first licence revenue opportunities through “K” Line vessel ownership.

H2 2026 – K LINE Commercial Progress

• Vessel ownership structures.
• Charter framework development.
• Shipyard engagement and vessel commercialisation planning.

H2 2026 – Advancing portfolio of Nordic H2 supply chain projects

• Progression of Uniper Term Sheet toward conditional SPA and charter terms.
• Further validation of demand and supply chain economics with new projects.

CO₂ Partnership with Yinson

Mid-2026 – DNV GASA Approval

• Completion of FEED for LCO₂ tank
• Maritime (GASA) approvals for LCO₂ tank.
• Key technical milestone.
• Supports future licensing discussions across CCS supply chains vessels (FSIU, Carriers, Terminal Storage).

H2 2026 – Yinson Technical FID

• Continued FEED progression of FSIU and other vessels.
• JV Co advancement to establish future economics
• Commercial deployment planning.
• Potential first pathway toward CCS-related licensing revenue.

The funds raised will be focused towards:

• Robotics Facility in Norway
• H2 Prototype Tank fabrication and testing
• Business Development & Corporate costs

(NOTE: Yinson funds 100% of LCO2 FEED Project costs)