21 July 2026

Quantum Helium Limited

("Quantum" or the "Company")

Corporate Update - Operational Progress

OTC Markets Application

Quantum Helium Limited (AIM: QHE) is pleased to announce further operational progress at its flagship Sagebrush Project in Colorado together with the Board's decision to commence the application process for a secondary quotation of the Company's ordinary shares on the OTC Markets in the United States.

The proposed secondary quotation reflects the Company's continued transition towards commercial helium development in the United States and is expected to broaden access to North American investors while complementing Quantum Helium's existing admission to trading on the AIM market of the London Stock Exchange.

Highlights

• Board approves application for a secondary quotation on the OTC Markets in the United States

• Secondary quotation expected to broaden access for US investors without issuing new shares or increasing the Company's reporting obligations

• Application process expected to complete within approximately four weeks, subject to customary processing

• Sagebrush-1 continues to produce oil, helium-bearing gas and water as production optimisation progresses

• First commercial sale of Leadville oil from Sagebrush-1 anticipated this month

• Extended production programme continues to reinforce commercial oil production, helium concentrations of 2.5%, with an extensive natural fracture network supporting reservoir buildup  pressures approaching virgin conditions

• Planning underway for a multi-well drilling programme targeting both helium and oil across the Company's Colorado acreage

• Existing oil production continues to generate revenue supporting the Company's commercial helium development strategy

Operational Update

Operations at the Sagebrush-1 well continue to progress as the Company advances reservoir optimisation and further enhances its understanding of the Leadville reservoir.

The well continues to produce oil, helium-bearing gas and water while ongoing production activities are focused on optimising long-term performance. Results to date from the extended production programme continue to reinforce management's confidence in the reservoir

The Company expects to complete its first commercial sale of oil produced from the Sagebrush-1 Leadville Formation during the current month, marking another important milestone in the development of the Sagebrush Project.

The discovery of commercial oil during helium testing was unexpected and represents a significant additional value opportunity for the Company. Geological studies undertaken to date indicate the oil may have originated from younger formations before migrating into the naturally fractured Leadville reservoir. Oil typing studies are underway to further develop the source and migration understanding.

Importantly, both the oil and helium appear to utilise the same extensive fracture system within the Leadville formation, further strengthening management's confidence in the long-term development potential of this field.

Reservoir optimisation continues through ongoing pressure build-up testing designed to maximise long-term production performance. Paraffin treatment of the wellbore is also being employed.

The Sagebrush-1 well continues to undergo an extended clean-up and optimisation programme following stimulation. Oil, helium-bearing gas and water continue to be produced as pressure build-up testing and the recovery of stimulation fluids progress. The ongoing optimisation programme is designed to maximise long-term production performance and further enhance the Company's understanding of the reservoir before production data is considered representative of the reservoir's long-term performance. The Company will provide a further operational update as the optimisation programme continues.

The extended production programme has now confirmed several significant technical outcomes, including:

• Commercial oil production from the Leadville Formation

• Helium concentrations of 2.5%, significantly above typical commercial thresholds

• Reservoir pressures approaching virgin reservoir conditions following pressure build-up testing

• A highly connected natural fracture system capable of supporting future field development

Development Strategy

As reservoir clean-up progresses and production stabilises, allowing representative sustained production rates to be established, the Company intends to re-engage independent reserves auditor Sproule ERCE to update its independently certified resource assessment to incorporate both the commercial oil discovery and the latest production data.

The Company has commenced planning for the next phase of development across its Colorado acreage. This includes evaluating follow-up drilling locations at Sagebrush together with several additional low-risk helium and oil prospects identified across the Company's existing acreage position.

Management recently held positive discussions with the US Bureau of Land Management regarding permitting requirements and remains encouraged by the regulatory pathway for advancing future development activities.

The Company will provide further updates on its broader Colorado development strategy, including additional drilling opportunities and future development plans, as technical work and permitting activities continue to progress.

The Company's existing oil production portfolio also continues to perform strongly, with seven of its eight producing wells currently online and generating revenue.

These revenues provide valuable cash flow while supporting the Company's strategy of advancing its helium assets through commercial development.

OTC Markets Secondary Quotation

The Board has approved the commencement of the application process for a secondary quotation of the Company's ordinary shares on the OTC Markets in the United States.

The proposed secondary quotation is intended to broaden the Company's exposure to North American investors and improve trading accessibility for US-based shareholders as Quantum Helium continues to advance one of the largest independently certified helium resource portfolios of any company listed on the London Stock Exchange.

The Board believes that a secondary quotation is a natural progression for the Company given that all of Quantum Helium's producing assets, development projects and future growth opportunities are located in the United States. The quotation is expected to complement the Company's existing admission to trading on AIM while enhancing its visibility within one of the world's largest natural resource investment markets.

Importantly, the secondary quotation will not involve the issue of any new shares. Existing ordinary shares already admitted to trading on AIM will become eligible to trade in US dollars through the OTC Markets, allowing investors to buy and sell the Company's securities during US market hours.

Subject to customary processing by OTC Markets, the application is expected to complete within approximately four weeks.

The quotation is also expected to provide the Company with access to a broader range of North American investor engagement opportunities, including participation in OTC Markets investor programmes, virtual conferences, market opening ceremonies, podcasts and other capital markets initiatives designed to increase visibility within the US investment community.

The Board believes the OTC quotation will complement the Company's AIM listing by improving access to one of the world's largest pools of natural resource investors while supporting Quantum Helium's continued growth as a US-focused helium and energy company.

Howard McLaughlin, Quantum Chief Executive Officer, commented: "Over recent months we have continued to build our understanding of the Sagebrush reservoir which has reinforced our confidence in the commercial potential of the project. We now have commercial oil production, helium concentrations of around 2.5%, a highly connected natural fracture system and reservoir pressures approaching virgin conditions - all of which provide an excellent foundation for the next phase of development.

Our immediate priorities are to continue reservoir optimisation and establish representative sustained production rates, complete our first sale of Leadville oil and, once production has stabilised, update our independently certified resource assessment with Sproule. At the same time, we are actively planning the next phase of drilling across our Colorado acreage as we seek to unlock the broader value of our helium and oil portfolio.

The decision to pursue a secondary quotation on the OTC Markets is another important step in the Company's evolution. With all of our assets located in the United States, broadening our access to North American investors is a natural progression as we continue executing our strategy to build a leading US-focused helium and energy company."

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon publication via Regulatory Information Service ('RIS'), this information is now in the public domain.

Enquiries:

Updates on the Company's activities are regularly posted on its website: www.quantum-helium.com

Notes to editors

Quantum (AIM: QHE) is a helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia. Quantum's strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration. The Company has several projects in the US, in addition to royalty interests in Australia.