Philomaxcap AG: Philomaxcap AG publishes half-year figures for 2025

Consolidated financial statements for the first time – IFRS applied for the first time

Munich (pta029/30.09.2025/15:25 UTC+2)

Philomaxcap AG publishes half-year figures for 2025

Consolidated financial statements for the first time – IFRS applied for the first time

Munich, September 30, 2025. Philomaxcap AG (ISIN: DE000A1A6WB2, ticker symbol: PTHH.DE), which is in the process of renaming the company Path2 Hydrogen AG, publishes its half-year consolidated financial statements in accordance with the international accounting standards IFRS for the first time as of the balance sheet date of June 30, 2025. The scope of consolidation includes GenH2 Corp. – the hydrogen company acquired earlier this year – along with other investments. With the preparation of the consolidated half-year financial statements, the national accounting standards are transferred to IFRS.

The shares in GenH2 Corp. were contributed to Philomaxcap AG by way of a contribution in kind in March 2025. According to IFRS guidance, this transaction is to be accounted for as a reverse acquisition; therefore, GenH2 Corp. is, for accounting purposes, considered to be the beneficial acquirer of Philomaxcap AG. This accounting treatment has a particular impact on the presentation in equity which his reflected in the financial statements. Nevertheless, the subscribed capital of Philomaxcap AG as the legal acquirer will continue to be disclosed. Due to Philomaxcap AG's holding function, the difference resulting from the revaluation of the assets is not reported as "goodwill" but as an expense to GenH2 Corp.

The accounting obligation as a reverse acquisition of a company has a material impact on the net assets, financial position and results of operations of the Group. As a result, the income statement of the consolidated financial statements contains additional charges of approximately EUR 0.5 million. The half-year report is published in "Investors" at www.path2hdrogen.com.

The company is pleased to have completed the GenH2 Corp. transaction, the consolidation of the company's assets under IFRS, and to have overwhelming support for its focus on the hydrogen sector as evidenced by the results of its August 6, 2025 Annual General Meeting. For the second half of 2025, the company will concentrate its efforts on the continuing commercial deployment of GenH2's technology and equipment.

Josh McMorrow, CEO of Path2 Hydrogen, states: "This is a transformative year for the company – the completion of the GenH2 acquisition, the re-focus of the company on the hydrogen infrastructure sector, and the commercial deployment of GenH2's Controlled Storage and hydrogen liquefaction equipment. I want to take a moment to thank all of the people involved in getting the company to this point, especially the tireless effort of the employees of Path2 Hydrogen and GenH2."

About Philomaxcap AG, soon to be Path2 Hydrogen AG (www.path2hydrogen.com)

Path2 Hydrogen AG (FRA:PTHH) is a management holding company with a focus on the hydrogen industry. In 2025, a capital increase led to the acquisition of GenH2 Corp., a company specializing in liquid hydrogen technology and equipment.

About GenH2 (www.genh2.com)

GenH2 Corp. is a subsidiary of Path2 Hydrogen AG (FRA: PTH), a German company listed on the Frankfurt Stock Exchange. GenH2 is a technology leader in liquid hydrogen infrastructure systems for clean energy solutions, including lossless controlled storage and advanced hydrogen liquefaction. The company is focused on manufacturing standardized equipment to accelerate the expansion of midstream infrastructure for hard-to-decarbonize sectors. The technology team includes former NASA Hall of Fame scientists with decades of experience in research, development, and design of hydrogen solutions. For more information about GenH2, see www.genh2.com.

Service

Contact for investors/press: Maximilian Fischer, Tel.: +49 89 139 2889 0, E-Mail: max.fischer@path2hydrogen.com

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Emitter:	Philomaxcap AG Marienplatz 2 80331 München Germany
Contact Person:	Josh McMorrow
Phone:	+49 89 139288929
E-Mail:	info@path2hdrogen.com
Website:	www.path2hydrogen.com
ISIN(s):	DE000A1A6WB2 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Dusseldorf, Stuttgart