#1TSXV: TOH OTC: TTLHF TOTAL HELIUM TM August 2023 Investor Presentation#2CAUTIONARY NOTES & FORWARD-LOOKING STATEMENTS TSXV: TOH OTC: TTLHF 02 22 The information contained herein has been prepared to assist interested parties in making their own evaluation of Total Helium Ltd., ("Total Helium" or the "company") and does not purport to contain all of the information that a prospective investor or partner may desire. In all cases, interested parties should conduct their own investigation and analysis of Total Helium. Neither the company nor any of its affiliates, directors, officers or employees make any representation or warranty as to the accuracy or completeness of the information presented. This includes, without limitation, any estimates or projections, and neither the company nor its affiliates, directors, officers or employees shall have any liability for any statements (expressed or implied) contained in, or for any omissions from, this presentation or any other written or oral communications transmitted to the recipient hereof in the course of its evaluation of the company, nor should anything contained herein be relied upon as a promise, representation or warranty regarding future events or performance of the company. Moreover, the information contained herein speaks as of the date hereof; the company undertakes no obligation to update any such information, except as required by law. The only statements that will have any legal effect will be those specifically contained or referred to, and then only to the extent provided, in definitive legal documentation. This presentation contains "forward-looking information" within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation, statements about: management's expectations regarding the company's future growth, results of operations (including, without limitation, future production and capital expenditures), performance (both operational and financial), business prospects (including the timing and development of drilling and the success of exploration activities), opportunities and the business plans of the company, including advancement of the Pinta South Helium Project. Information concerning potential contingent helium resource estimates also may be deemed to be forward-looking information. With respect to the forward-looking information contained in this presentation, the company has made numerous assumptions including, without limitation, that the geological, engineering, financial and economic advice that the company has received is reliable, and is based upon practices and methodologies which are consistent with industry standards. While the company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results, production tests and the geology, continuity and quality of petroleum and helium bearing reservoirs; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for co-operation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the gas industry; increased competition in the gas industry for properties, qualified personnel and management; and Covid-19 related costs. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Investors should carefully consider the cautionary notes and risk factors set out above, in Appendix II hereof and in the company's Management Discussion and Analysis filed on SEDARPLUS.ca on July 31, 2023 (the "MD&A"), the disclaimers set out herein and all other information contained in the company's public filings and herein before making an investment decision. The risks and disclaimers set out herein and in the MD&A are not an exhaustive list and should not be taken as a complete summary or description of all the risks associated with the company's business (including its anticipated business) and the helium business generally. TOTAL HELIUM™ August 2023 Investor Presentation#3INVESTMENT HIGHLIGHTS TSXV: TOH OTC: TTLHF 03 03 9 producing wells 10 wells awaiting connection 300+ wells expansion potential Rapidly Growing Helium Market: Global helium market is set to expand from $4.45 billion in 2022 to $13.26 billion by 2030 (12.9% CAGR)' High Grade American Asset: Pinta-South Helium Project contains ultra-high helium concentration of 5-8% in the prolific Holbrook basin of Arizona (vs. 1-2% in Western Canada) Strong Pricing Trend: . In the last 20 years, helium pricing has increased at a CAGR of 8% reaching $457/mcf in January 2023² Low-Cost Operation: Shallow low-risk wells with drilling and completion cost of US$220,000 (estimated +4-month well payback) Supplying America's High-Tech Industries with High-Grade Green Helium TOTAL HELIUM. 1. SkyQuest "Global Helium Market Report", April 2023 2. AKAP Energy, 2023 Scalable Production: 9 producing wells, 10 wells completed awaiting pipeline connection with significant expansion potential of over 300 wells Offtake: • Partnership with the world's largest industrial gas and chemicals manufacturing company, including funding for pipeline construction and offtake agreement for the first 10 wells Green Helium: Pinta-South is free of hydrocarbons, with nitrogen as the sole-by-product, easily vented into the atmosphere through processing with no greenhouse emissions August 2023 Investor Presentation#4HELIUM IS VITAL TO SCIENCE AND TECHNOLOGY 2 4.003 He Helium Helium cannot be synthesized, has no substitutes and is found in recoverable quantities in only a few locations globally Et TSXV: TOH OTC: TTLHF 04 64 Any nation that is highly dependent on advancing technology or has an interest in joining the space race or employing nuclear energy will be major consumers of helium going forward Phil Skolnick, Managing Director of Equity Research EIGHT CAPITAL Technology Manufacturing Aerospace & Defense Healthcare Man 1RO 032 ODD SPACE Semi-conductor manufacturing Micro-chip manufacturing LCD panels Fiber optic cables Space exploration Fuel purging systems Defense guidance systems Rocket guidance systems MRI machines Helium-ion microscopes Laser eye surgery Cryogenics TOTAL HELIUM™ Industrial Uses 0000 Weilding, shield masks Gas leak detection Nuclear reactor coolant Crystal growth August 2023 Investor Presentation#5• SUPPLY/DEMAND IMBALANCE & MARKET PRICING • Demand Growth: • Space exploration lifeline: Vital for space missions, helium purges fuel tanks, cools equipment, and pressurizes spacecraft, supporting successful missions Scientific breakthroughs: Helium enables vital research in nuclear magnetic resonance (NMR) spectroscopy and particle accelerators, unlocking insights into fundamental matter Cryogenic essential: Helium's ultra-low boiling point is indispensable for cryogenic applications in research, superconductors, and MRI machines Semiconductor manufacturing: Helium's inert properties ensure precision cooling and purging during semiconductor production, crucial for the booming industry 2021 Helium market expected growth: 12.9% (CAGR)¹ 2026 Semiconductors & Aerospace Applications: 7 20%+ (CAGR)² Helium Shortage 4.0: 2023 is shaping up to be the ninth year that has been impacted by helium shortages since 2006³ Factors contributing to shortage: • Ongoing supply crisis since 2019 closure of the US federal reserve Import Price (US$/mscf) TSXV: TOH OTC: TTLHF 05 78% (CAGR) Over the last 20 years, helium pricing has increased at an 8% CAGR reaching ~US$375/mcf in late 20224 71 US$950 /mcf spot price Current spot market upwards of US$950/mcf5 400 350 300 250 200 150 100 50 0 Global Average Import Price of Helium (US$/mscf) War in Ukraine: Russian supply is under restrictions due to sanctions Linde withdrawal from Russia's Amur Plant removed 2Bcf (~25%) of future supply AKAP Energy, 2023 1. SkyQuest "Global Helium Market Report", April 2023 2. Gasworld, "Helium in 2023", April 2023 3. Gasworld, "Helium 4.0: Expectations for a difficult summer", June 2023 TOTAL HELIUM 4. AKAP Energy, 2023 5. Kornbluth Consulting, 2023 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 August 2023 Investor Presentation#6CORPORATE OVERVIEW & BOARD Capitalization Structure: Ticker (TSXV | OTC) Share Price (TSXV 31JUL23) Outstanding Shares TOH | TTLHF • $0.42 102,393,542 $44.03MM Market Capitalization Warrants (Strike $0.50 - $2.00) 39,000,000 Options (Strike $0.50 - $1.00) 9,587,900 150,981,442 Fully Diluted Potential Warrant Funding Insider Holdings Cdn:TOH Volume 14-L $44.50MM 14% 0.68 0.66 0.64 0.62 0.60 0.58 0.56 0.54 0.52 0.50 0.48 0.46 • 0.44 0.42 0.40 0.38 0.36 0.34 0.32 450 k 300 k 150 k Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2022 2023 TOTAL HELIUM™ TSXV: TOH OTC: TTLHF 90 06 Robert B. Price, CEO and Director Successful oil and gas executive who owned and managed energy and manufacturing companies in North America and Eastern Europe. Founder and former Chairman of Zeledyne, purchased Ford Motor Company's Glass division with plants in Tulsa, Nashville and Juarez, Mexico employing more than 1,200 people and eventually acquired by Carlex in 2011. Former Vice President, Trust Officer and Oil and Gas Trust Energy Department Manager of the First National Bank and Trust Company of Tulsa, now JP Morgan Chase Bank. lan Telfer, Chairman • Former Chairman of the Board for Goldcorp, a position held until 2019 when Goldcorp merged with Newmont Mining in a transaction valued at $10Bn, creating the world's largest gold company. Inducted into the Canadian Mining Hall of Fame in 2015 and served as Chairman of the World Gold Council from 2009 to 2013. Robert Johnston, Director & Geologist Retired from Apache Corporation, Fortune 500 company, in 2014 as Executive Vice President. Presently the President of Atalaya Resources, LLC, a private oil and gas exploration company operating in Western Oklahoma and the Texas Panhandle. Gordon Keep, Director Distinguished corporate finance professional and entrepreneur with extensive business experience in investment banking and public natural resource companies in a career that spans over three decades. CEO of Fiore Management & Advisory Corp., a private financial advisory firm. He also serves as an officer and/or director for several natural resource companies. Diana McQueen, Director Senior Policy advisor and business development manager in the fields of Energy, Environment, Regulatory, Indigenous Relations and Municipal Issues. Highly experienced in governmental affairs having held various Alberta provincial cabinet roles including Minister of Energy, Minister of Environment & Water, among others, and member of numerous committees such as Treasury Board, and Agenda & Priorities. August 2023 Investor Presentation#7• e U.S. FLAGSHIP HELIUM FIELD: HIGH CONCENTRATION IN PRODUCTION Pinta South Helium Field Colorado City 19 Fredonia Page Kayenta (100) Grand Canyon National Park Chinle Tuba City Grand Canyon Polacca Fort Defiance, Ganado USA Holbrook basin, AZ Dolan Springs 180 L. Mouce 64 Seligman Williams. 27,000 acres He Helium World class helium concentrations of 5-8% Bullhead City Kingman Petrified Forest Naz. Park Sandi Flagstaff Winslow Mohave Vallev Paulden. Chino Sedona, Cottonwood Holbrook Begdad Valley Prescott Prescott Lake Havasu City Valley Camp Verde 93 Heber- Snowflake Overgaard St. johns Mayer Show LOW 50 Payson Alamo L 9 producing wells with an additional 10 wells at various stages of completion awaiting tie in and 300+ well development plan Parker Aquila Congress Wickenburg New Riverp Pinetop Eagar Lakeside 180 Cave Creek Alpine Salome Theodore Roosevelt L Whitleriver Quartzsite Surprise Sustainable production with minimal hydrocarbon concentrations - nitrogen is sole by-product, easily ventured into the atmosphere with no greenhouse emissions Multiple prospective reservoirs: Shinarump Formation (700-1,200 ft.) with proven production Coconino Sandstone, Fort Apache Dolomite, Big A Butte, Granite Wash and Basement (3,800 ft) for upside opportunity Shallow Shinarump Formation offers fast development opportunity at low cost • $220,000 estimated per well for drilling and completion ~Estimated +4 months well payback TOTAL HELIUM™ 199 Inglorial Fes Glendale Buckeye Phoenix Scottsdale Mesa Apache Globe Junction San Carlos 191 Chandler Superior 85 Gila Benid Kearny Sen 20 Carlos Res Clifton Florence Casa Grande Coolidge Eloy Safford San Manuel Duncan 191 Wellton Somerton San Luis Ajo Marana Saguaro Nat. Park Tucson Sells Three Points Cataling Oro Valley Green Valley Janque Verde Saguaro Nat Park Benson Bonie Wilkox Pearce (191) 10 Tombstone Tubac Patagonia Sierra Bisbee Nogales Vista Pinta South TSXV: TOH OTC: TTLHF August 2023 Investor Presentation 07 10#8• PRODUCING WELLS: FLOW RATES AND CONCENTRATIONS 9 10 300+ T20N-R25E producing wells wells awaiting connection wells expansion potential 2,200 Mcf/d Current helium processing facility capacity TSXV: TOH OTC: TTLHF 1-40 T20N-R26E PUERCO RIVER BNSF RAILROAD 1-40 T20N-R27E PINTA DOME NAVAJO SPRINGS T19N-R25E SADDLE HORSE DRAW PETRIFIED FOREST NATIONAL PARK T19N-R26E T18N-R25E TI8N-R26E Q3 2023 Q4 2023 Q1 2024 Flow rates and production ramp up on first 9 connected producing wells Final completion, connection, flow rates and production ramp up of additional 10 wells Begin Phase 2 drilling of 30 additional permitted wells TOTAL HELIUM™ "BLACK KNOLL" VOLCANG MATREME BNSF RAILROAD SPUR 08 RANGER HRU E NAVAJO SPRINGS Navajo Springs Ongoing Production N=3 27-1 NS (Coconino) 27-6 NS (Shinarump & twin of 27-1 NS) 28-1 NS (Shinarump) T19N-R27E NAVAJO RESERVATION Saddle Horse Draw (SHD) Shinarump wells: Pipeline Construction Underway N=5 (14-4 SD State: 23-13 SD Fee, 23-15 SD Fee, 22-7 SD State, 22-8 SD State) SHD Shinarump wells: Waiting on Completion N=4 (21-13 SD Fee, 23-11 SD Fee, 23-15 SD Fee, 28-7 SD Fee) T18N-R27E Current Drilling 76 T17N-R25E T17N-R26E T17N-R2TE N August 2023 Investor Presentation#9STRONG PARTNERSHIPS Linde Linde is the world's largest industrial gas company by both market share and revenue Linde has committed to fund the pipeline expansion on the Pinta South project and to purchase all helium from the first 10 wells - all other wells have spot market pricing upside With Linde's funding, two-six-mile pipelines have been constructed connecting 7 additional wells to the processing facility TOTAL HELIUM Strategic Partner & Offtake TOTAL HELIUM™ TSXV: TOH OTC: TTLHF JV Operational Partner • Lead by Brad Butler and his highly experienced team PSOC owns drilling rig, cementing equipment, trenching equipment, etc. which allows the partnership to control costs, schedule, and production with no dependence on third-party contractors The partner team has extensive geological and operational expertise in the area The established and experienced operating team enables Total Helium to rapidly develop the project without additional staffing costs PINTA SOUTH OPERATING COMPANY 09 August 2023 Investor Presentation#10UPSIDE POTENTIAL EE The combination of low-risk production in shallow wells and high upside potential in deeper wells is ideal for us and our shareholders. Potential Pay Zones Robert Price, CEO TOTAL HELIUM.M • ⚫ Acreage: Ongoing negotiations to increase holdings. • • • Well Spacing: License acquired to decrease well spacing from 160-acres to 80-acres, increasing the number of wells that can be drilled. Further potential to decrease spacing to 40-acres if deemed economical. Deeper Formation: Coconino Sandstone, Fort Apache Dolomite, Big A Butte, Granite Wash and Basement at (3,800ft) providing the Company with a deeper formation to drill into High Concentration & Production Channel: Data indicates a high helium concentration (8%+) & production (1,000+ mcf/d) channel running through the property. Management is confident they can identify and target the channel with future wells. Selling Price Increase: Opportunity to sell on open market at spot pricing US$ 500 - 1,000/mcf today with supply shortages continuing. TOTAL HELIUM™ Precambrian Penn Permian Triassic TSXV: TOH OTC: TTLHF 10 10 Shinarump Fm Moenkopi Fm Coconino Fm Shinarump Development ⚫ $220k estimated completed well cost 150+ wells at 160 acre spacing with additional infill opportunity on 80 acre spacing (300 wells) or 40 acre spacing (600+ wells) • Drill depths of 700' - 1,200' • Proven 5-8% helium Corduroy Ft Apache Big A Butte Amos Wash Naco Fm Precambrian Basement Supai Fm Supai-Basement targets draped over basement structures (Deeper Potential) ⚫ Puerco Ridge Deep Prospect - structure partly mapped on 2D potash seismic and regional well control ⚫Fort Apache (8.2% He), Upper Big A Butte, Granite Wash, fractured basement ⚫PSOC's rig is capable of drilling to depth of 5,000 ft. ⚫ These deeper formations were not included in Sproule's competent person's report and represent potential upside August 2023 Investor Presentation#11TOTAL HELIUM TM CONTACT: 3400 East Bayaud Ave. Suite #400 Denver, CO 80209 P: +1-720-519-0652 E: [email protected] OTC: TTLHF TSXV: TOH