We are pleased to share the CEO Letter by Antony Tolfts, CEO of H2X Global Limited, outlining the company’s 2026 priorities focused on execution, commercial delivery and its listing pathway.

🧩 Key Highlights Include:

• Financial Progress: A Four-Year Foundation - Since incorporation on 30 June 2021, H2X revenue and income have built steadily:
  1. FY22: $320,970
  2. FY23: $680,739
  3. FY24: $981,923
  4. FY25: $1,328,224
  Revenue and income have grown consistently, driven primarily by increasing R&D Tax Incentive rebates and receipts.
  
  
• Regulatory Pull is Structural, Not Cyclical - Europe has now entered a legally binding fleet transition phase:
  1. 50% CO₂ reduction for new vans by 2030
  2. 100% zero-emission new vans by 2035
  3. Heavy-duty CO₂ reduction pathways legislated
  4. Hydrogen corridor infrastructure mandated across key networks
  
  
• IPO Readiness: Boxes Being Ticked - From a listing readiness perspective, key hurdles are already addressed:
  1. 518 shareholders, with 507 holding more than $2,000 of H2X ordinary shares at the current offer price
  2. Three+ years of audited financials complete
  3. Comfortable free float, with the majority of securities held by non-related shareholders
  4. Strengthened governance and experienced Board leadership
  5. Escrow principles discussed and workshopped at Board level
  6. A full data room prepared and ready to support exchange engagement and investor diligence
  
  
• Delivery to Renova: The Catalyst Event - As outlined in prior CEO Letters, delivery is what validates an industrial business. Our immediate operational priority remains delivery of the first Paroo vehicle to Renova in Sweden. This first delivery is the catalyst event for H2X:
  1. Revenue recognition
  2. Operational proof in a government fleet
  3. Municipal follow-on demand a clear pathway to scale

Read the Complete CEO Letter here.

About H2X Global

H2X Global is a leader in zero-emission hydrogen fuel cell vehicles, setting new standards for commercial transportation with extended driving ranges and fast refuelling times. From the world’s only hydrogen-powered 4x4, the Warrego, to our innovative retrofit strategy and upcoming Paroo truck, H2X is driving the future of clean, sustainable transportation.

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