Pure One

MST Access has published a research report on Pure One (#ASX: #PH2), reviewing its Q4 FY25 performance and maintaining a target price of 27 cents per share, based on a Discounted Cash Flow analysis. Highlights: ✅ $2.8m in customer receipts for the quarter, marking the second consecutive period of positive operating cash flow (~$0.4m). ✅ First US hydrogen truck sale to Riverview International Trucks (California), to be used as a demonstration vehicle across North America, targeting market share left open by Hyzon and Nikola’s collapse. ✅ New South American distribution agreement with FRN Enterprise SAS (Argentina) covering hydrogen and battery electric vehicles, electrolysers, and infrastructure, with a minimum ~$30m supply target over four years. ✅ Fleet expansion with two new range-extended battery electric vehicles – a 12-metre coach and 23-tonne rigid truck – designed to overcome BEV range limitations. ✅ International momentum building, with preferred supplier status for two clean energy projects in Mexico worth $44m. ✅ Proposed name change to Pure One Corporation (subject to shareholder approval) to reflect its dual hydrogen and battery vehicle offering along with the supporting clean energy infrastructure. Read more 👉 lnkd.in/eZnDN9kX #ASXPH2 #Hydrogen #EnergyTransition #CleanTech #GreenHydrogen #InvestorUpdate #EmergingMarkets #SustainableTransport #ASX #HydrogenStocks #PureHydrogen

Pure One Corporation (#ASX: #P1E) delivered a series of strategic milestones during H1 2026, including the successful IPO of Eastern Gas (#ASX: #EGA), portfolio optimisation, and continued progress across zero-emission transport solutions. Commercial agreements, international expansion, and ongoing R&D initiatives position the Company for the next stage of growth. Read more: cdn-api.markitdigital.com/apiman-gateway… #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas #HalfYearFinancialReport

During the half year, Pure One Corporation (#ASX: #P1E) continued executing its strategic repositioning following its rebrand to Pure One Corporation Limited. The Group's focus is on the development and commercialisation of zero-emission transport solutions. Key developments during the period and up to the date of this report included: ✅ Eastern Gas IPO milestone - Eastern Gas Corporation Limited ("Eastern Gas"), Pure One's Queensland-focused natural gas subsidiary, lodged a Replacement Prospectus, completed capital raising initiatives, and the shares commenced trading on the ASX on 26 February 2026 under ticker EGA. Pure One retains a majority shareholding, preserving strategic exposure while enabling Eastern Gas to operate as a separately listed entity. ✅ Strategic divestment - Sale of the Company's 40% interest in Turquoise Group Pty Ltd for A$5.0 million, enabling focus on core zero-emission mobility and energy projects. ✅ Commercial agreements and purchase orders - Pure One secured supply arrangements for hydrogen fuel cell and battery electric commercial vehicles with key customers including Heidelberg Materials, Solo, and Scott Lovatt Transport. ✅ Battery electric vehicle expansion - Continued development and rollout planning of mid-sized and heavy battery electric truck platforms, supporting scalable BEV solutions for commercial fleet operators. ✅ Battery swap infrastructure development - Advanced battery swap strategy to accelerate fleet electrification, reduce operational downtime, and provide flexible, cost-efficient solutions for high-utilisation commercial vehicles. ✅ Corporate rebrand completion - Official transition to Pure One Corporation Limited in December 2025, reflecting the Company's multi-technology zero-emission strategy and positioning for domestic and international growth. ✅ International commercial expansion - Execution of distribution agreements and partnerships in South America (FRN Enterprise), the United States (Riverview International Trucks and GTS Group), and dealer networks in Australia (HDEA), strengthening the Company's global footprint. ✅ Ongoing R&D initiatives - During the six months ended 31 December the Company received R&D Tax Incentive refunds totaling approximately $1.1 million, supporting innovation across vehicle and clean energy technologies. Read more: cdn-api.markitdigital.com/apiman-gateway… #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas

Eastern Gas Corporation Limited (#ASX: #EGA) is progressing into the next operational phase at the Project Venus coal seam gas project in Queensland’s Surat Basin. Following its successful IPO, the Company is preparing to commence a multi-well appraisal drilling campaign targeting the Walloon coal seams, with drilling expected to begin toward the end of April. David Spring, Managing Director of Eastern Gas Corporation Limited, said: "Following the successful completion of Eastern Gas' recent IPO and funding of our appraisal program, we are pleased to move into the next operational phase at Project Venus.” “The drilling contract enables the commencement of a multi-well appraisal campaign targeting the Walloon coal seams, with drilling expected to begin toward the end of April. This program is designed to test gas deliverability and represents an important step in progressing Project Venus toward reserve conversion and future development." Read more: data-api.marketindex.com.au/api/v1/announc… #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas

Eastern Gas Corporation Limited (#ASX: #EGA) is preparing to commence appraisal drilling at the Project Venus coal seam gas project in Queensland’s Surat Basin. The planned multi-well campaign will test gas deliverability from the Walloon coal seams, with drilling expected to begin in April 2026. Read More: data-api.marketindex.com.au/api/v1/announc… #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas

Eastern Gas Corporation Limited (#ASX: #EGA) is pleased to confirm that, following its successful and oversubscribed IPO, the Company is now in the final stages of preparation to commence near-term appraisal drilling at the Project Venus coal seam gas project (ATP 2051) in Queensland’s Surat Basin. Key Highlights: ✅ Drilling services contract is being finalised for the upcoming multi-well appraisal program at Project Venus (ATP 2051) ✅ Drilling is expected to commence in April 2026 ✅Project Venus contains 130.3 PJ (2C) and 157.9 PJ (3C), independently reported contingent gas resources ✅ Located in Queensland’s Walloon Coal Seam Gas fairway, a prolific gas producing region with established infrastructure, pipeline connectivity, and surrounded by major producers – Shell, APLNG and Santos ✅ Horizontal wells targeting Upper Juandah coal seams are planned as part of the appraisal campaign ✅ Project positioned to contribute to future east coast domestic gas supply Eastern Gas is planning a multi-well drilling campaign, with the first well currently scheduled to commence toward the end of April 2026, subject to final operational readiness and rig mobilisation. Read more: data-api.marketindex.com.au/api/v1/announc… #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas

Pure One's (#ASX: #P1E) spin-off, Eastern Gas (#ASX: #EGA), has listed on the ASX at a time when smaller natural gas developers are beginning to generate strong investor demand.

MST Access has released a research report on Pure One's (#ASX: #P1E) subsidiary, Eastern Gas (#ASX: #EGA), which successfully completed an oversubscribed $5.5 million IPO in late February 2026. The report assigns the Company a mean enterprise valuation of $47 million, with a valuation range of $28 million to $75 million. This implies a target price of approximately 52 cents per share. Eastern Gas’ oversubscribed IPO reflects strong investor confidence in the Company’s high-value gas assets, which have attracted more than $40 million in historic exploration and development investment. Positioned in a tightening east coast gas market, Eastern Gas is advancing its portfolio of assets supported by substantial historical investment and growing investor demand. Research Report 👉 easterngas.com.au/wp-content/upl… Investor presentation 👉 easterngas.com.au/wp-content/upl… #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas

Pure One's (#ASX: #P1E) subsidiary, Eastern Gas' (#ASX: #EGA) initial public offering has featured in the Courier Mail. Eastern Gas holds wholly owned acreage across Queensland’s Surat Basin Walloon CSG fairway and the Cooper Basin, containing 479PJ of 2C Contingent gas resources, with significant upside expected through the application of modern horizontal drilling and stimulation techniques. The Company is now well funded, with proceeds from the IPO to support appraisal activities and advance the assets toward commercial development. Research Report 👉 easterngas.com.au/wp-content/upl… Investor presentation 👉 easterngas.com.au/wp-content/upl… #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas

Pure One's (#ASX: #P1E) subsidy, Eastern Gas (#ASX: #EGA) has officially listed on the ASX today. The Company’s oversubscribed $5.5 million IPO highlights strong investor confidence in its high-value gas assets. Eastern Gas holds wholly owned acreage across Queensland’s Surat Basin Walloon CSG fairway and the Cooper Basin, containing 479PJ of 2C Contingent gas resources, with significant upside expected through the application of modern horizontal drilling and stimulation techniques. The Company is now well funded, with proceeds from the IPO to support appraisal activities and advance the assets toward commercial development. Research Report 👉 easterngas.com.au/wp-content/upl… Investor presentation 👉 easterngas.com.au/wp-content/upl… #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas

📣 Pure One Referenced in Financial Markets Commentary on Spin-Off Value Creation A recent financial markets commentary discussed the growing role of spin-offs in unlocking shareholder value and included Pure One (hashtag#ASX: hashtag#P1E) in this broader trend. The proposed separation and IPO of Eastern Gas Corporation Limited reflects Pure One’s approach to enhancing visibility of asset value while maintaining focus on its core clean energy and zero-emission mobility strategy. Corporate actions of this nature are increasingly recognised as effective ways to sharpen business focus and improve market understanding of underlying assets. Read more: news.financial/comments/profi… #PureOneCorporation #ASXP1E #P1E #IPO #ASXIPO #EnergyStocks #NaturalGas #EnergyTransition #SmallCaps #AustralianEnergy #CleanTransport #ZeroEmissions

Pure One Corporation (#ASX: #P1E) recorded a strong quarter as it progressed the global deployment of clean technology solutions for commercial transport. With funded growth initiatives, operational hydrogen vehicle deployments, and a well-supported Eastern Gas IPO underway, the Company remains well positioned to execute in FY26. Read more: cdn-api.markitdigital.com/apiman-gateway…

Pure One Corporation (#ASX: #P1E) is pleased to provide this Activities Report to shareholders for the quarter ended 31 December 2025. Highlights: ✅ Signed a manufacturing and assembly Term Sheet with Advanced Manufacturing Queensland (AMQ) to establish local zero-emission vehicle assembly capability in Australia. ✅ Entered into a Joint Market Development Agreement with US-based Utility Global to support the deployment of hydrogen fuel cell vehicles with aligned hydrogen supply in the US market. ✅ Lodged Replacement Prospectus for Eastern Gas Corporation, progressing the planned spin-out of the Company's Australian gas assets via a well-supported IPO, with applications in excess of $5.5 million post quarter-end. ✅ Entered into a term sheet to sell Pure One's 40% interest in Turquoise Group for total consideration of AUD 5.0 million, representing an expected profit of approximately AUD 3.4 million. ✅ Successfully completed the handover of a hydrogen fuel cell rear loader waste collection vehicle for Solo Resource Recovery, with the vehicle now in operational service for Byron Bay Council. ✅ MOU signed with US-based Hago Energetics to collaborate on deploying hydrogen fuel cell vehicles across the United States, supported by access to locally produced hydrogen. ✅ Secured a $2.5 million strategic funding facility to support vehicle deliveries, working capital and near-term growth initiatives. ✅ As at 31 December 2025, Pure held cash of $1.9 million with undrawn credit facilities of around $7.9 million. The Company remains well capitalised to grow its sales pipeline Read more: cdn-api.markitdigital.com/apiman-gateway… #PureOneCorporation #ASXP1E #P1E #ASXAnnouncements #QuarterlyReport

Pure One Corporation (#ASX: #P1E) is pleased to advise that @Eastern_Gas has received applications in excess of $5.5 million to be raised under its initial public offering. Eastern Gas is currently working with the Australian Securities Exchange (ASX) in relation to the proposed listing of the company, including progressing customary listing and regulatory requirements. In accordance with the Second Supplementary Prospectus dated 23 January 2026, the Offer is expected to close on 6 February 2026. However, the Company reserves the right to amend the Closing Date, including closing the Offer earlier. As previously advised, Pure Offer applications will be given priority in the allocation process. The planned IPO represents the next step in unlocking value from Pure’s portfolio by separately listing Eastern Gas as a dedicated Queensland-focused gas explorer and developer with 100%-owned assets across highly prospective regions. Eastern Gas is supported by strong gas prices and investor demand for gas projects, alongside clear near-term catalysts including drilling, flow testing, fracture stimulation, and reserve upgrades. Learn more: easterngas.com.au #IPO #ASXIPO #EnergyStocks #SmallCaps #InvestorUpdate #Drilling #FlowTesting #ReservesUpgrade #EnergyDevelopment #GrowthCatalysts #NaturalGas #GasExploration #EnergyTransition #AustralianEnergy #DomesticGas

Pure One Corporation (#ASX: #P1E) has highlighted the strategic value of its new partnership with Hago Energetics as the Company continues to expand into the United States' market. Scott Brown, Pure One Managing Director said: “Through this partnership with Hago, we will support vehicle demonstrations and explore additional opportunities for hydrogen access across the US. This approach will help accelerate adoption of hydrogen mobility solutions and strengthen the foundation for a scalable US hydrogen network over the coming year.” The MOU aligns Pure One’s vehicle deployment capabilities with Hago’s locally produced hydrogen supply, providing a clear pathway to support early fleet customers and expand the footprint of zero-emission transport in key US regions. #Hydrogen #CleanTransport #ZeroEmissions #FleetTransition #PH2 #HydrogenMobility

Pure One Corporation (#ASX: #P1E) has signed an MOU with California-based Hago Energetics to advance hydrogen mobility in the United States. This builds on the recent Utility Global agreement and strengthens Pure One’s expansion into the United State’s zero-emission transport market.

Pure One (#ASX: #PH2) has signed a new MoU with Hago Energetics to progress a US-based hydrogen fuel cell vehicle supply chain. The partnership integrates locally produced hydrogen with Pure One’s fuel cell vehicle program to support scalable fleet adoption. Highlights: ✅ Collaboration to deploy hydrogen fuel cell vehicles across the US ✅ Uses hydrogen produced from waste gases and solids via Hago Energetics ✅ Builds on Pure One’s existing framework with Utility Global for US expansion ✅ Focus on vehicle demonstrations, pilot programs and early fleet customers ✅ Positions both parties to validate a US hydrogen supply chain over the next three years. Pure One expects the agreement to support commercially viable deployments by aligning vehicle rollouts with locally available hydrogen power and reducing early-operator risk. Read more: theaustralian.com.au/business/stock… #Hydrogen #CleanTransport #FuelCellVehicles #HydrogenMobility #USHydrogen #PH2 #EnergyTransition

Pure One Corporation (#ASX: #PH2) has signed a Memorandum of Understanding with California-based Hago Energetics, establishing a framework to deploy hydrogen fuel cell vehicles (HFCVs) across key United States regions. The partnership brings together Pure One’s vehicle deployment capabilities with Hago’s locally produced hydrogen supply, supporting scalable and commercially viable fleet adoption. Key Highlights: ✅ Joint rollout of hydrogen fuel cell vehicles across the United States ✅Access to locally produced hydrogen to support fleet operations ✅Pilot programs and vehicle demonstrations to expand US hydrogen mobility ✅Builds on Pure One’s recent agreement with Utility Global, strengthening US market entry This MOU sets the foundation for coordinated vehicle deployment and hydrogen supply planning, helping accelerate zero-emission transport opportunities in the US market. Read more: pure1corp.com/wp-content/upl… #Hydrogen #CleanTransport #FleetTransition #ZeroEmissions #PH2 #HydrogenMobility

Pure Hydrogen Corporation Limited (#ASX: #PH2) has officially changed its name to Pure One Corporation Limited following shareholder approval at the 2025 Annual General Meeting. The name change became effective on 3 December 2025. The new name reflects the Company’s evolution from a primarily hydrogen-focused business to a broader zero-emission mobility and clean energy platform, encompassing multiple technologies and innovative solutions. While hydrogen remains a key strategic pillar, the Company has expanded its product mix to include battery-electric vehicles, battery-swap technology, and other complementary clean energy solutions. Pure One’s expanded capabilities provide a clear commercial advantage, including lower total cost of ownership and reduced operational complexity for customers adopting zero-emission transport solutions. The rebrand positions the Company to accelerate its growth across both domestic and international markets. Read the full announcement: theaustralian.com.au/business/stock…

Speaking at the Ignite Investment Summit 2025 in Hong Kong, Managing Director Scott Brown highlighted Pure One’s expanding order pipeline. The company now services domestic and international customers, supported by a production capacity exceeding 200 vehicles per month. Scott noted that US incentives — such as California’s support of up to USD 240,000 per clean-energy truck — are accelerating global adoption. Combined with distributor interest across key regions, Pure One is building momentum in both established and emerging markets. Watch the full presentation: youtu.be/3URMck43n3Y?si… #PureOne #ASX #PH2 #CleanEnergy #Hydrogen #ZeroEmissions #CleanTech #Investors #CapitalMarkets #EnergyTransition #IgniteInvestmentSummit

In Hong Kong at the Ignite Investment Summit 2025, Scott Brown emphasised that Pure One’s competitive edge is its state-of-the-art software-first approach. Pure One (#ASX: #PH2) has invested heavily in software — now the defining feature of modern commercial vehicles. Like the shift seen in the passenger EV market, Pure One’s platform is built around advanced control systems and telematics designed specifically for heavy trucks. This technology layer underpins performance across both hydrogen fuel cell and battery-electric models, forming a scalable foundation as fleet demand accelerates globally. Watch the full presentation: youtu.be/3URMck43n3Y?si… #PureOne #ASX #PH2 #CleanEnergy #Hydrogen #ZeroEmissions #CleanTech #Investors #CapitalMarkets #EnergyTransition #IgniteInvestmentSummit