HIGHLIGHTS:

• $1.08 million raised from a Placement supported by existing and new institutional, sophisticated, and professional investors.
• Funds will be applied to the ongoing advancement of Provaris’ technical and commercial development of critical infrastructure solutions required in Europe for both hydrogen and CO2.
• The Placement includes Provaris Director participation, subject to shareholder approval.

  Provaris Energy is pleased to announce that it has received firm commitments to raise $1.08 million  via a share placement to institutional, sophisticated, and professional investors at $0.013 per share, with 83 million new fully paid ordinary shares to be issued (Placement).

  The proceeds of the Placement will be applied to advance Provaris’ priority hydrogen and CO2 storage and marine transportation business development activities in Europe, including its proprietary hydrogen prototype tank program in Norway.

  Provaris Managing Director and CEO, Martin Carolan, commented “Provaris is pleased to welcome new shareholders who have supported this capital raising, and we thank our existing holders for their continued confidence.

  The funds raised will support ongoing H2NeoTM technical milestones in parallel with our recently announced partnership with “K” LINE to support the commercialisation of Provaris’ hydrogen carriers, for cost-effective storage and marine transport solutions for hydrogen in Europe.

  We are also encouraged by progress in completing the liquid CO2 tank design phase funded through our joint development agreement with Yinson Production. The new tank design will address market demand for specialised maritime and offshore storage solutions, supporting large-scale carbon capture and storage (CCS) to comply with Europe’s increasing regulations on industrial supply chains.

  Placement Details

  The Placement will comprise the issue of 83 million new fully paid ordinary shares (New Shares) at an issue price of $0.013 per share, which represents a 21.5% discount to the 15-day Volume Weighted Average Price as at 1 July 2025. The Placement includes the issue of one (1) free unlisted option for every three (3) New Shares subscribed for under the Placement (Attaching Options), resulting in a total of ~27.7 million Attaching Options. The Attaching Options will have an exercise price of $0.03 and an expiration date eighteen (18) months from the Attaching Options issue date; and are subject to shareholder approval at an EGM planned for August 2025.

  The Directors of the Company are participating in the Placement, subscribing for a total of $52,000. The issue of the Attaching Options and New Shares to Directors will be subject to shareholder approval at the EGM.

  The Placement will settle in a single tranche with the New Shares to be issued under the Company’s existing ASX Listing Rules 7.1 and 7.1A placement capacity. Settlement of the Placement is expected to occur on Tuesday, 8 July 2025 and the New Shares will rank equally with the Company’s existing fully paid ordinary shares on issue.

  Ethicus Advisory Partners acted as Lead Manager to the Placement.