20  May 2026

Helix Exploration PLC

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

Helium Sales Arrangement

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 that it has agreed terms for an initial short-term spot sales arrangement (the "Arrangement") with an industrial gases group (the "Counterparty") for the supply of helium produced at Rudyard. The Arrangement represents the Company's first contracted route to market for helium produced at Rudyard.

Highlights

• First revenue-generating helium sales arrangement secured, marking the Company's commercial debut in the helium market following the commencement of production at Rudyard on 23 February 2026.
• ​Pricing reflects current prevailing spot market rates and significantly exceeds the Company's pre-IPO model assumptions. Commercial terms, including the identity of the Counterparty and the specific price, are confidential between the parties, as is standard practice in offtake arrangements of this nature.
• Production is currently from three wells; with further wells available for acceleration as the Arrangement scales.
• The Counterparty has committed to take 100 per cent. of helium volumes available for delivery from Rudyard for an initial period of approximately three months, with both parties anticipating an extension given current market conditions.
• Initial expected delivered volumes of approximately 30 to 40 Mcf per day.
• The Counterparty has agreed to arrange additional trailer capacity to support a continuous rotation, removing any logistics bottleneck on Helix's ability to deliver volumes.
• The Company continues to advance discussions for longer-term and larger-volume arrangements, consistent with the Board's strategy of building a diversified route-to-market portfolio.

Background and operational detail

Following first helium production at Rudyard, as announced on 23 February 2026, the Company has been engaged in active commercial discussions with a number of potential offtake partners. The Board's stated strategy has been to secure a mix of short and longer-term arrangements as production scales, commencing with spot transactions that establish market relationships and generate near-term cash flow, while progressing towards longer-term contracted volumes.

The Counterparty is a large industrial gases group. Its decision to commit to 100 per cent of Helix's deliverable volumes and to proactively arrange supplementary trailer capacity to ensure a continuous supply rotation is, the Board believes, a strong endorsement of both the quality of the Rudyard product and the operational credibility of the Helix team.

The Counterparty will lift product from the Rudyard site for onward transport to their target markets. Initial deliveries are being made using the Company's existing high-pressure jumbo tube trailer. The Counterparty is arranging additional trailer capacity to support a continuous rotation, which will allow Helix to deliver volumes on an uninterrupted basis as production runs.

While terms are confidential between the parties the Board is able to confirm that the pricing achieved is at prevailing spot market rates for Grade A helium, and is substantially in excess of the historical price assumptions used in the Company's pre-IPO financial model. The Board considers the terms achieved to be materially favourable and reflective of current global helium supply dynamics.

The Company continues to advance discussions with a number of additional potential offtake partners in respect of both short-term spot arrangements and longer-term structured offtake agreements.

Bo Sears, Chief Executive Officer of Helix Exploration, commented:

"This is a defining moment for Helix as a company. From first gas at Rudyard in February 2026 to a contracted offtake arrangement with a leading industrial gas company in May 2026, the Company has transitioned from an explorer to a revenue generating business in just over 2 years since its IPO.

I appreciate that some shareholders will want to see pricing disclosed, however the terms agreed are commercially attractive and, in the Board's view, represent a positive outcome for the Company. The pricing is at prevailing spot market rates, and it is substantially higher than the price assumptions used in our pre-IPO model, a model that was itself built on conservative estimates. I can confirm to shareholders that the Arrangement represents a strong commercial opportunity, and we look forward to updating the market on its financial contribution in due course.

The global helium market is tight. Supply from traditional sources remains constrained. Helix has built a producing asset in the Montana Helium Fairway and is entering production at a favourable point in the market cycle.  We are now producing, selling, and being paid at rates that exceed our own expectations. This is just the beginning of an exciting new chapter."

This announcement contains inside information for the purposes of Article 7 of the UK version of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain. The Directors of the Company are responsible for the release of this announcement.

Enquiries

Helix Exploration

Cairn - Nominated Adviser

Hannam & Partners - Broker

Camarco - Financial PR

Notes to Editors

Helix Exploration is a helium exploration company focused on the exploration and development of helium deposits within the 'Montana Helium Fairway'. Founded by industry experts with extensive experience of helium systems in the US, the Company listed in April 2024.

Helix is focused on production at its Rudyard Project in northern Montana, taking advantage of existing infrastructure and low-cost processing. The Company has four production wells targeting up to 236ft Helium / Nitrogen gas in the Souris and Red River formations, flowing up to 3,800 Mcf/day at 1.2% helium. Rudyard field can support multiple production wells and has potential to generate net revenue of $115 - $220 million over a 12.5 year life of field.

Helix is committed to open and transparent communication with investors and the wider market as the project progresses through development into production.

"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.