30 September 2025

Hydrogen Future Industries plc

("HFI" or the "Company")

Interim Results for the Six-Month Period Ended 31 January 2025

Update re Suspension

Hydrogen Future Industries plc (AQSE: HFI), a developer of a proprietary wind-based green hydrogen production system featuring an advanced aerodynamic wind turbine, presents its unaudited interim results for the six-month period ended 31 January 2025 (the "Period").

Suspension

Following publication of these results, the Company's shares is anticipated to be restored to trading on the AQSE Growth Market with effect from 8:00a.m. on 30 September 2025.

Director Loans

During the 6-month period ended 31 January 2025, Neil Ritson, Executive Chairman of the Company and Daniel Maling, Non-executive Director of the Company, provided loans in aggregate of £44,500  (("Director Loans") to the Company. Pursuant to the terms of the Director Loans, the loans have been provided to the Company on an interest free basis and are repayable by 30 September 2025, after which repayment is at the Directors' discretion, subject to the Company being able to meet its minimum working capital requirements. The Director Loans are in addition to the loans already provided by Neil Ritson and Daniel Maling to the Company on the same terms during the financial year ended 31 July 2024, as announced on 28 July 2025.

After the Period, Neil Ritson, Executive Chairman of the Company, Jonathan Colvile and Daniel Maling, Non-executive Directors of the Company, provided loans in aggregate of £44,500 ("Additional Director Loans") to the Company. Pursuant to the terms of the Additional Director Loans, the loans have been provided to the Company on an interest free basis and are repayable by 30 September 2025, after which repayment is at the Directors' discretion, subject to the Company being able to meet its minimum working capital requirements. The Additional Director Loans are in addition to the loans already provided by Neil Ritson and Daniel Maling to the Company on the same terms during the Period.

At the date of this announcement, the Directors, in aggregate, have provided approximately £154,000 in loans to the Company. The date of repayment has been extended until such time the Company is able to meet its minimum working capital requirements.

Neil Ritson, Executive Chairman, commented:

"HFI's 1-metre prototype wind turbine demonstrated exceptional durability and performance and is now being prepared for its next phase of energy performance trials and objective third-party assessment.

"In parallel, testing of the third party owned novel electrolyser achieved exceptional efficiency of up to 97% and a strategy is underway to expedite the development of a commercial scale electrolyser.

"These two technologies are required for the successful generation of clean and affordable energy from green hydrogen, and we are looking forward to making further progress towards this goal.

"In parallel, we are hoping to access new sources of finance through the proposed adoption of a Bitcoin treasury strategy and as a result we have welcomed on to the Board three directors with the requisite skills to make that a reality."

Enquiries:

Inside Information

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement.

About HFI

HFI are developing a proprietary wind-based hydrogen production system, incorporating hydrogen compression and storage. The Company is at the forefront of green hydrogen production with its integrated system that marries an advanced ducted wind turbine with a state-of-the-art Hydrogen Electrolyser technology, currently owned and being developed by a related party. This innovative pairing is designed to optimise renewable Energy for the efficient production of hydrogen.

Visit our website: www.hydrogenfutureindustries.com

Caution Regarding Forward Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

Chairman's Statement

Introduction

During the period, with capital scarce, we focused efforts on licensing of the technology in new jurisdictions, with negotiations in Ireland concluding during the period and the USA shortly after. We are encouraged by these licensing opportunities and believe they will unlock future sources of financing for the continued development of our technologies and follow on project opportunities.

As a route to further investment to accelerate the technology development, we have been exploring other financial strategies, and the Board is proposing the adoption of a Bitcoin Treasury Strategy to attract finance alongside the technical operations of the Company.

Development activities

Wind turbine development

The proprietary turbine provides the ability to generate energy over a broader range of wind speeds and, significantly, the turbine can be raised and lowered for optimal wind capture, whilst also reducing maintenance and installation costs and reducing permitting and approval lead times. The system is designed to meet the needs of remote off‐grid communities or energy users to ease the burden on existing national grid infrastructure.

Following the successful collection of data from the initial prototype turbine in Montana in 2023, a new, more robust, and more heavily instrumented version was constructed in 2024, however, its installation was delayed due to a fault with the control unit which required upgrading, and a shortage of specialist consultants at site. Once the new turbine and electronics are deployed, the improved testing configuration will enable remote data collection whilst new sensors will provide more reliable automatic yaw and turbine braking control in high winds. We anticipate testing to recommence once financing has been secured.

Licensing Agreement for Ireland

Immediately following the year-end, a licensing and territory agreement was signed to deploy the Company's technology in the Republic of Ireland via a newly incorporated independently owned Irish company, Hydrogen Future Industries (Ireland) Limited ("HFI Ireland"). HFI Ireland intends to develop a pilot hydrogen production system in Ireland to demonstrate the production of low‐cost green hydrogen.

The Company's wholly owned subsidiary, HFI IP Holdings Limited, has granted HFI Ireland an exclusive territory licence for up to 20 years in consideration for which the Company will receive a licence fee of up to €2,250,000 payable over the term of the licence. The Company will also be issued with an initial 30% equity interest in HFI Ireland.

HFI Ireland's objective is to commercialise the HFI system in Ireland and to construct and operate wind turbine farms for the purpose of hydrogen generation, storage, sale, and distribution within the territory.

To progress their financing in Ireland HFI Ireland has requested additional certified data for the wind turbine. The license has been suspended until that data is available.

Corporate activities

Share allotments

In January 2025, the Company issued 2,906,250 new ordinary shares at a price of 1.6 pence per share to creditors in lieu of cash for consultancy and service provider fees. Those shares were subject to a six-month lock‐in agreement.

Director loans

During the 6-month period ended 31 January 2025, Neil Ritson, Executive Chairman of the Company and Daniel Maling, Non-executive Director of the Company, provided loans in aggregate of £44,500 ("Director Loans") to the Company. Pursuant to the terms of the Director Loans, the loans have been provided to the Company on an interest free basis and are repayable by 30 September 2025, after which repayment is at the Directors' discretion, subject to the Company being able to meet its minimum working capital requirements. The Director Loans are in addition to the loans already provided by Neil Ritson and Daniel Maling to the Company on the same terms during the financial year ended 31 July 2024, as announced on 28 July 2025.

Director fees

The Directors have all agreed to defer their fees until such time as the Company achieves certain milestones including raising new finance through the issue of new equity or licensing of the Company's technology.

Board Changes

Ms Woodley stepped down as a Director in November 2024 to pursue her executive roles elsewhere.

Due to other commitments Daniel Maling stepped down as Commercial Director in November 2024 and took up the role of Non-executive Director. Neil Ritson replaced Daniel Maling as the executive Director in the role of Executive Chairman.

In April 2025, the Board appointed Jonathan Colvile as a Non-executive Director. Previously Mr Colvile was Vice Chairman at Celsius Resources from 2022‐2023; he was employed at Mirabaud Securities from 2007‐2019 as Head of Mining and Natural Resources. Prior to this, he worked at Cannacord Genuity form 2000‐2007, and James Capel from 1983‐1998.

Post balance sheet events

Board Changes

The Board has appointed three new executive directors; Alex Appleton, Sarah Gow and Pierre Villeneuve to assist it with the development of the strategy and financing of the Company.

Alex Appleton - as Chief Executive Officer

Alex Appleton is an experienced CFO and board level leader, bringing over 25 years' expertise throughout his career. Previously CFO of Argo Blockchain Plc ("Argo"), a UK and Nasdaq listed Bitcoin Mining company, Alex was pivotal in raising over $300 million in equity and debt. Alex was involved in Argo's successful Nasdaq IPO in 2021.  Alex is a member of the Institute of Chartered Accountants of Scotland.  Alex brings governance, regulatory and operational expertise to the Company.

Sarah Gow - as Chief Operating Officer

Sarah brings over 20 years' experience in Senior roles within the Asset Management Operations industry, having worked for Citigroup, Salomon Brothers and Coutts & Co in London, New York and Jersey. Sarah served as Non-executive Director of Argo (2021-2023). Sarah supported Argo through its Nasdaq IPO and was a member of the audit and governance committees and chaired the remuneration committee.

Pierre Villeneuve - as Chief Financial Officer

Pierre is a quantitative strategist and hedge fund founder with extensive experience in structuring investment products, portfolio construction and risk modelling. Pierre raised over $750m into hedge fund products working with clients such as Blackrock, Credit Suisse and large pension funds.  Some of Pierre's work in systematic investing was featured in "Managed Futures for Institutional Investors" (2011), and he has held regulatory status with both the CFTC/NFA in the USA and the Ontario Securities Commission in Canada.  Pierre holds a BMath (Computer Science) from the University of Waterloo, an MBA in Finance and is a Chartered Financial Analyst (CFA) charter holder.

Timothy Blake

Tim Blake, current CEO of the Company (non-board position) will move into the role of Chief Technology Officer (non-board position) to better reflect his role developing the Company's proprietary wind turbine technology.

Operating Business Update

The Company has reclassified as an operating company. While the Company intends to implement a bitcoin treasury policy subject to shareholder approval, its primary business is operational in nature, centred around the development of a proprietary wind-based green hydrogen production system featuring an advanced aerodynamic wind turbine and a high-performance electrolyser.

HFI is developing a proprietary wind-based green hydrogen production system featuring an advanced aerodynamic wind turbine combined with a third-party hydrogen electrolyser. The Company is currently in active discussions to bring this third party into the HFI Group.

Licensing Agreement for the United States of America

In June 2025, a licensing agreement was signed to deploy the Company's technology in the United States of America via an independently owned special purpose vehicle, HFI Energy Systems US Inc ("HFI Energy"). HFI Energy intends to develop a green energy park in Montana, USA utilising the Company's technology.

The Company's wholly owned subsidiary, HFI IP Holdings Limited ("Licensor"), will grant HFI Energy ("Licensee") an exclusive territory licence for a minimum of 10 years upon receipt of a licence fee of US$2,000,000 payable within four months of signing the agreement. The Company has agreed that it will use US$1,000,000 received in respect of the licence fee for the development of the wind turbine energy system. The Licensee can renew the licence by paying a renewal fee of US$2,000,000.

HFI Energy's objective is to commercialise the HFI system in the USA and to construct and operate wind turbine farms for the purpose of hydrogen generation, storage, sale, and distribution in the USA.

The Company also signed heads of terms for a Manufacturing Licence with HFI Energy which sets out the terms under which they, as a Licensee, are authorised to manufacture the Company's products for distribution and installation within the USA. The Agreement is conditional upon executing a shareholder agreement between the Company and HFI Energy and the issue of 20% of the equity in HFI Energy to the Company.

Under the terms of the agreement royalties of up to 5% are payable upon delivery and installation of the relevant licensed products.

The Company provided the following update further to the announcement on 6 June 2025 regarding the proposed green hydrogen energy park in Whitehall, Montana. These developments would include the Company receiving licencing and manufacturing fees.

HFI Energy Systems US Inc. ("HFI Energy Systems") is a private U.S. company and is not owned by the Company. HFI Energy Systems continues to progress development activities at the Whitehall site and is actively engaging with potential data centre operators to locate on the park.

The Company provided the following update further to the announcement on 6 June 2025 regarding the proposed licence agreement between its wholly owned subsidiary, HFI IP Holdings Limited and HFI Energy Systems US Inc.

Discussions in relation to the exclusive North American licence and manufacturing agreement remain ongoing. Both parties continue to work towards finalising the arrangements. Further updates will be provided in due course.

The Board looks forward to progressing this agreement, which is expected to support the development and commercialisation of the Company's proprietary wind turbine technology in the United States.

Director loans

After the Period, Neil Ritson, Executive Chairman of the Company, Jonathan Colvile and Daniel Maling, Non-executive Directors of the Company, provided loans in aggregate of £44,500 ("Additional Director Loans") to the Company. Pursuant to the terms of the Additional Director Loans, the loans have been provided to the Company on an interest free basis and are repayable by 30 September 2025, after which repayment is at the Directors' discretion, subject to the Company being able to meet its minimum working capital requirements. The Additional Director Loans are in addition to the loans already provided by Neil Ritson and Daniel Maling to the Company on the same terms during the Period.

Fundraising

The Company is in the advanced stages of raising working capital funds which will enable the Company to pay its third-party creditors, continue to invest in the development of the wind turbine technology and, subject to shareholder approval, implement a Bitcoin Treasury Strategy.

Conclusion

The Board has been focused on keeping the Company's IP in good standing whilst we navigate various financing options for its continued development and are encouraged by recent licensing discussions around the development site in Montana. We look forward to recommencing testing of the wind turbine in the coming months.

The proposed inclusion of a Bitcoin Treasury Strategy and the appointment of new directors is anticipated to allow the Company to expand its ability to attract finance and to greatly accelerate progress on the technologies under development.

Neil Ritson

Executive Chairman

29 September 2025