Primary Hydrogen amends LIFE offering

Calgary, Alberta--(Newsfile Corp. - June 23, 2026) - Primary Hydrogen Corp.  (TSXV: HDRO) (OTCQB: HNATF) (FSE: 83W)  (" Primary Hydrogen " or the " Company ") announces that, further to its news release dated June 4, 2026, the Company has decreased the size of its previously announced non-brokered private placement under the Listed Issuer Financing Exemption from 4,200,000 Units (each a " Unit ") to 2,459,570 Units at a price of $0.60 per Unit, for aggregate gross proceeds of up to $1,475,742 (the " Amended Offering "). The Company has filed an amended and restated offering document (the " Amended Offering Document ") in connection with the Amended Offering. Each Unit will consist of one (1) common share in the capital of the Company (a " Common Share ") and one (1) Common Share purchase warrant (a " Warrant ").

Each Warrant will entitle the holder thereof to acquire one (1) Common Share at a price of $0.80 per Common Share for a period of twenty-four (24) months from the date of issuance, provided that the Warrants shall not be exercisable for a period of 60 days after the Closing Date. The Offering is expected to close on or about July 17, 2026 (the " Closing Date "), or such other date as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals. The Company intends to use the net proceeds from the Offering for general working capital and general administrative purposes.

The Company may also use a portion of the net proceeds to acquire additional exploration properties if suitable opportunities arise. In connection with the closing of the Offering, the Company may pay a cash fee of up to 6% of the gross proceeds of the Offering to certain eligible finders who introduce investors to the Company. The Company may also issue to eligible finders such number of finders' warrants (the " Finders' Warrants ") equal to up to 6% of the number of Units sold under the Offering.

Each Finders' Warrant will be exercisable for one Common Share at the price of $0.80 for a period of twenty-four (24) months from the Closing Date. The Units will be issued on a private placement basis pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (" NI 45-106 "), as amended and supplemented by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the " LIFE Exemption "). Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Units sold under the Amended Offering pursuant to the LIFE Exemption will be offered to purchasers resident in each of the provinces and territories of Canada, except Québec, and such securities are expected to be immediately freely tradeable and will not be subject to a hold period under applicable Canadian securities laws.

There is an offering document related to the Units issuable pursuant to the LIFE Exemption that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.primaryh2.com . Prospective investors should read this offering document before making an investment decision. The securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements.