Pulsar Helium (PLSR) Q1 2026 earnings summary

Executive summary

• Advanced appraisal drilling at the Topaz Project, completing six wells and initiating a seventh to delineate the helium reservoir's extent and productivity.

• Confirmed presence of helium-3 isotope at Topaz through independent U.S. federal laboratory analyses, supporting prior findings.

• Expanded asset base with acquisitions of Quantum Hydrogen Inc. (80% stake, with option for remaining 20%) and Hybrid Hydrogen Inc. (100% stake), increasing mineral rights in Minnesota and Michigan.

Financial highlights

• Recorded $2 million in exploration and evaluation expenditures for Topaz drilling during the quarter ended December 31, 2025.

• Raised $4.1 million from the exercise of 16,150,567 warrants and $0.3 million from the exercise of 800,000 options during the period.

• Announced a post-period equity fundraising (Placing) for gross proceeds of approximately £7.4 million ($10 million), expected to close February 27, 2026.

Outlook and guidance

• Proceeds from the Placing will strengthen the balance sheet and provide financial flexibility to advance Topaz and other projects.

• Continued drilling and data analysis at Topaz are expected to inform the next phase of resource evaluation and development planning.

• Forward-looking statements highlight plans to bring Topaz to production, complete Quantum acquisition, and assess by-product potential of CO2 and helium-3.