Primary Hydrogen Announces Proposed Consolidation of Common Shares

Executive Summary

• The board approved a proposed 10‑for‑1 consolidation of Primary Hydrogen’s common shares, reducing share count from ~49.2 M to ~4.9 M.
• No change to shareholders’ proportional ownership; fractional shares will be rounded.
• Consolidation is pending TSX Venture Exchange approval; no effective or record date has been set.

Key Details

• Consolidation ratio: 10 pre‑consolidation Shares → 1 post‑consolidation Share.
• Post‑consolidation share count expected to be approximately 4,919,141 (down from ~49,191,411).
• Shareholders will hold proportionally fewer shares at a higher price per share; overall value unchanged aside from rounding effects.
• No fractional Shares will be issued; any fractional interest will be rounded to the nearest whole number.
• Intended purpose: better position capital structure for future corporate and financing initiatives.
• Company name and trading symbol remain unchanged after consolidation.
• Consolidation subject to acceptance by the TSX Venture Exchange; effective date pending.
• Company will issue a further news release once exchange approval is received to confirm effective and record dates.