6 March 2026

Helix Exploration PLC

("Helix Exploration" or "Helix" or the "Company")

Helix Expands Rudyard Leasehold

Dominant Leasehold Over Core of Proven Helium Structure Approaches 8,000 Acres

Helix Exploration PLC (AIM: HEX, OTCQB: HEXFF), the helium exploration and development company advancing the Rudyard Helium Project ("Rudyard") in northern Montana, is pleased to announce it has expanded its strategic footprint at Rudyard to nearly 8,000 acres through the acquisition of additional State of Montana mineral leases at public auction (the "Acquisition"). The Acquisition extends the Company's control over the core of the Rudyard Anticline, the structural heart of the proven helium accumulation.

The Acquisition, which comprises approximately 360 acres for a modest cash consideration and follows the Company's recent acquisition of additional leases announced on 22 December 2025, comes as QatarEnergy, the world's largest producer of liquefied natural gas, has declared force majeure on its liquid natural gas ("LNG") supply contracts following drone strikes on its Ras Laffan facilities. The declaration, reported by The Wall Street Journal on 4 March 2026, signals that Qatar does not intend to restart production in the near term.

Helium is primarily recovered as a by-product of processing helium-bearing natural gas, often integrated with large gas processing or LNG facilities. Disruptions to major gas processing or LNG facilities can therefore materially affect helium supply. With Qatar accounting for approximately 30% of global helium capacity, the force majeure has effectively severed the single largest node in the world's helium supply chain.

With a total leasehold now approaching 8,000 acres, Helix controls the mineral rights over the principal area of structural closure at Rudyard - the zone of highest trap integrity and greatest helium column where the Company's three producing wells are located and where all flow-tested helium concentrations of 1.06-1.21% have been measured. The Company's position encompasses the crest and primary flanks of the anticline, covering the most prospective portion of the 10,600-acre structure.

Highlights:

•     360 acres won at State auction: Helix has successfully acquired approximately 360 acres of State of Montana mineral leases within the Rudyard Anticline through public auction, further consolidating the Company's dominant position over the core of the proven helium-bearing structure, for a modest cash consideration.

•     Dominant position over the core of the structure: The Company's leasehold of approximately 7,927 acres covers the crest and primary flanks of the Rudyard Anticline - the zone of maximum structural closure, proven helium concentration, and active production. All three producing wells (Darwin No. 1, Linda No. 1, and Weil No. 1) sit within Helix's core leasehold, along with the entirety of the confirmed helium-bearing reservoir interval.

•     Over 2,300 acres added since farmout - a 43% expansion: Since acquiring the original 5,564-acre Rudyard position announced on 20 June 2024, Helix has added approximately 2,363 acres through strategic acquisition (640 acres from Global Helium Corp.), targeted private mineral leasing (1,363 net acres), and now State auction (360 acres) - a 43% increase.

•     QatarEnergy force majeure severs global helium supply chain: QatarEnergy's declaration of force majeure on its LNG contracts confirms that the world's largest helium supply node will remain offline for an extended period. Because helium can only be produced when natural gas is being processed, the shutdown of Qatar's LNG operations has simultaneously eliminated approximately 30% of global helium production capacity. Industry analysts have projected spot price increases of 35-50% and anticipate force majeure declarations cascading through the helium distribution chain if the disruption exceeds 30-45 days.

•     Domestic US helium takes on critical strategic importance: With the global supply chain fractured and no timeline for Qatari restart, domestically sourced US helium, produced, processed, and delivered entirely within US borders, is insulated from this supply shock. Helix is one of a very small number of companies producing helium from dedicated wells in the US, with its own processing infrastructure at the Rudyard Processing Plant.

The Helium Supply Crisis

·      The global helium market has experienced several supply disruptions over the past two decades associated with outages at major production facilities. Helium does not generally occur in commercially viable concentrations as a standalone resource and is typically recovered as a trace component during the processing of helium-bearing natural gas. As a result, outages at major gas processing or LNG facilities can reduce the availability of helium in the market.

·      Qatar's Ras Laffan Industrial City is one of the largest concentrations of helium production infrastructure globally. The force majeure declaration may introduce contractual uncertainty into the helium supply chain at a time when supply from affected facilities has been disrupted. Market participants have previously noted that extended disruptions at major helium production facilities can affect contractual supply arrangements across the helium distribution chain.

·      Helium is a critical, non-substitutable input for semiconductor fabrication, MRI systems, aerospace applications, fibre optic manufacturing, and quantum computing infrastructure. Helium's physical properties make substitution difficult in many industrial and scientific applications. The only significant source of uncommitted excess helium capacity globally is Russia's Amur 2 facility, which remains subject to sanctions and has experienced its own operational difficulties.

·      Against this backdrop, domestically produced US helium, which requires no maritime shipping, no passage through conflict zones, and no foreign processing infrastructure, carries a strategic premium that the Board believes will be reflected in near-term market pricing. Helix's production at Rudyard is entirely domestic from wellhead to delivery.

Leasehold Build-Up

Bo Sears, CEO of Helix Exploration, commented:

"Our leasehold covers the core of the Rudyard Anticline, the crest of the structure, the producing wells, and the proven reservoir. With nearly 8,000 acres under our control, we have built a significant position over the central portion of the field.

"QatarEnergy's force majeure makes one thing unmistakably clear: when LNG shuts down, helium shuts down with it. A significant portion of global production has been impacted, and the market has no timeline for when, or whether, it comes back. Helix produces helium entirely on US soil, from our own wells, which will be delivered to domestic customers. In a world where the largest supply node has just declared it cannot fulfil its contracts, that is not just an advantage - it is the advantage".

This announcement contains inside information for the purposes of the UK Market Abuse Regulation, and the Directors of the Company are responsible for the release of this announcement.

Enquiries

Helix Exploration

Cairn - Nominated Adviser

Hannam & Partners Brokers

Camarco - Financial PR

Notes to Editors

Helix Exploration is a helium exploration and production company focused on unlocking the potential of helium deposits within the 'Montana Helium Fairway'. The Company, founded by industry experts with extensive experience of helium systems in the US, listed on AIM in April 2024 and has since rapidly transitioned from exploration to production.

Helix achieved production at its Rudyard Project in northern Montana, taking advantage of existing infrastructure and low-cost processing to become the first helium producer in the state of Montana.

The Company remains focused on scaling production efficiently while developing its resources strategically. Helix is also exploring the hydrogen potential of the Rudyard Field, which could provide additional long-term growth opportunities. The management team is committed to maintaining open and transparent communication with investors and stakeholders as the Company continues to progress through production and beyond.

"Our approach is simple: build scale efficiently, develop resources strategically, and deliver near-term cash flow." CEO - Bo Sears

The Company's Admission Document, and other information required pursuant to AIM Rule 26, is available on the Company's website at https://www.helixexploration.com/

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.