Helium Evolution holder converts note into shares

Mr. James Baker reports HELIUM EVOLUTION ANNOUNCES CONVERSION OF $8.3 MILLION CONVERTIBLE NOTE INTO COMMON SHARES In accordance with the automatic conversion provisions of Helium Evolution Inc.'s convertible note agreement as announced on Aug. 26, 2025, with Eneos Xplora USA Ltd., the convertible note with a face value of $8.3-million has been converted into common shares of the company. The note, plus accrued interest of $100,000, was converted into 40,039,243 common shares at 21 cents per share upon achievement of the operational milestone represented by Helium Evolution's first load of helium delivered to the offtaker from the Soda Lake facility, as announced on Oct. 16, 2025. Following the conversion, Eneos USA holds approximately 42 per cent of Helium Evolution's issued and outstanding common shares on a fully diluted basis. About Helium Evolution Inc. Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in Southern Saskatchewan. The company has over five million acres of land under permit near proven discoveries of economic helium concentrations, which will support scaling the exploration and development efforts across its land base. Helium Evolution's management and board are executing a differentiated strategy to become a leading supplier of sustainably produced helium for the growing global helium market. We seek Safe Harbor.