Australian Project update

Powerhouse (AIM:PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy together with a revenue generating engineering consulting division (Engsolve), is pleased to provide the following update regarding its Framework Agreement with National Hydrogen of Australia (NH2).

Further to the Company's announcement dated 30 June 2025, NH2 has now established the project SPV "National Waste to Energy", in which PHE will hold a 5% equity stake, in return for support the Company is providing to NH2 (and the SPV) to take FID on its Perth project. As part of working towards this, NH2 has also received a signed Offer to Lease from the Western Australian Government for up to 50 years, for a strategically located and appropriately zoned site which is large enough to accommodate two of Powerhouse's patented Distributed Modular Generation ("DMG") trains in the Rockingham Strategic Industrial Area, just south of Perth.

The project being delivered is expected to be undertaken in a phased approach as outlined below:

• Phase 1 - Construction of a single ~40 Tonne per Day ("TPD") train DMG producing power
• Phase 2 - the initial ~40 TPD single train will have a pre-deigned Hydrogen separation and compression unit added to allow Hydrogen production as the hydrogen market grows for heavy transport solutions
• Phase 3 - Construction of a second ~40 TPD DMG train.

National Waste to Energy has also completed a power offtake agreement with the largest independent commercial energy provider in Perth and wider Western Australia. In addition, National Waste to Energy has secured a feedstock agreement for sorted mixed plastics with a company that has very significant experience in the waste management business.

PHE are also supporting NH2 with the provision of technical documentation such as Patents, FEED package, license agreements etc, for a large UK based, international commercial finance company currently undertaking financial due diligence on the project.

As this is a client driven project, the Company is working to their timescales and will provide further updates as they are available.

Paul Emmitt, Chief Executive Officer of Powerhouse, commented:

"The creation of the SPV, the signed Offer to Lease and the progression of funding are significant steps forward in our collaboration with National Hydrogen and a further huge endorsement of our DMG process. We are delighted to be an incoming shareholder in the SPV; working on this project with National Hydrogen, as well as further building on our relationship with them and supporting them to deliver other projects."