Issue of Equity, TVR & Director Dealing

Mendell Helium, the helium production company with operations in Kansas, announces the following issues of equity to a Director and members of its staff in accordance with share-based remuneration arrangements agreed with them and an additional issue of equity to professional advisers.

Nick Tulloch, Chief Executive Officer, will receive 750,000 new ordinary shares of 1 pence each ("Ordinary Shares"), as payment in lieu of £22,500 of accrued remuneration for the period from 1 January 2026 to 31 March 2026. Pursuant to the arrangements announced on 23 June 2025, the new Ordinary Shares will be issued at a price of 3.0 pence per share, being a price equal to the issue price of the Company's subscription announced on 20 January 2026.

Following this issuance, the total number of Ordinary Shares that will be held following Admission by Nick Tulloch, a director of the Company, is as follows:

Mendell Helium has also issued 500,000 new Ordinary Shares to each of two US based members of the M3 Helium Corp. ("M3 Helium") team ("Consultant Shares"). These individuals previously supported M3 Helium as consultants and, ahead of the completion of the Company's acquisiton of M3 Helium, joined the team thereby strengthening M3 Helium's capabilities to advance its projects. In both cases, the issue of the Consultant Shares is in lieu of services provided as well as securing their commitment and incentivising their performance. These Consultant Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company's placing announced on 30 April 2026.

Additional Issue of Equity

The Company has agreed to issue and allot 200,000 new Ordinary Shares at a price of 3.0 pence per share as payment in lieu of approximately £6,000 of accrued quarterly fees owed by the Company to a professional adviser. In addition, the Company has agreed to issue 625,000 new Ordinary Shares to a professional adviser as part of its remuneration in connection with the Company's AIM admission workstreams. These new Ordinary Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company's placing announced on 30 April 2026.

Admission

Application will be made for the 2,575,000 new Ordinary Shares to be admitted to trading on the Aquis Stock Exchange AQSE Growth Market ("Admission"). Admission is expected to occur at 8:00 am on or around 2 June 2026. The new Ordinary Shares will rank pari passu with the existing ordinary shares.

Total Voting Rights

Following Admission, the Company's enlarged share capital will comprise 340,761,938 Ordinary Shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 340,761,938. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Overview of Mendell Helium

M3 Helium's flagship well, Rost 1-26, is in Fort Dodge, just to the east of Dodge City, Kansas. It has been tested as containing 5.1% helium composition and a drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. Water removed from Rost 1-26 is delivered to Brobee, a nearby disposal well that has been permitted at 10,000 barrels of water per day at 1,200 psi. Production at Rost 1-26 commenced in early November 2025 and the most recently recorded flow rate in December 2025 was 250 Mcf per day equating to approximately $1.4 million of helium per year (at $300/Mcf helium).

M3 Helium has subsequently drilled a second well, Rost 2-26, which is currently being completed. It also owns additional leases in the Fort Dodge area capable of supporting up to eight new production wells. It has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13A, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day.