ASP Isotopes Updates Renergen Helium Project Progress

ASP Isotopes provided a production update on the Renergen Helium Project following the completion of the Company's acquisition of Renergen Limited on January 6, 2026. Phase 1C of the Renergen Helium Project continues to progress toward full commercial operation. Since the restart of operations in April 2025, following bridge loan funding by ASP Isotopes prior to completion of the acquisition of Renergen, the project has advanced materially across drilling execution, gas production, plant readiness, and commercial contracting. These developments represent a meaningful improvement in operational performance compared to the period prior to ASPI's involvement. Based on current progress, management expects the project to achieve positive operational cash flow before the end of 2026. Following the restart of drilling and production activities in April 2025, the Phase 1 processing plant has been progressively upgraded to support increased gas throughput and stable operations as additional wells are brought online. Since ASP Isotopes began funding the project, management estimates that gas throughput has increased by approximately 60%. Final commissioning activities are ongoing, including commissioning of Compressor Station C, which is expected to be completed by the end of the first quarter of 2026. Since the restart of operations in April 2025, the drilling and subsurface program has focused on increasing gas supply while materially improving geological confidence. Overall gas gathering infrastructure is estimated to be more than 70% complete and will continue to be expanded on a well-by-well basis as new production wells are drilled and commissioned.