Next Hydrogen Solutions Inc. Announces Change of Auditor

On December 2, 2025, Next Hydrogen Solutions Inc. (TSXV: NXH, OTC: NXHSF), announced a significant change in its auditing firm. The company has switched its auditor from KPMG LLP, the former auditor, to MNP LLP, the newly appointed successor auditor. This transition was initiated at the request of Next Hydrogen, effective November 30, 2025, leading to the formal appointment of MNP LLP as the company's auditor on December 1, 2025. The new auditor is set to serve until the company's next Annual General Meeting.

Importantly, there were no modified opinions expressed by KPMG in their audit reports for the two most recently completed financial years, ending December 31, 2023, and December 31, 2024. Furthermore, the company confirmed no reportable events, as defined by National Instrument 51-102, took place between KPMG and Next Hydrogen. In compliance with regulatory requirements under NI 51-102, the company submitted a Change of Auditor Notice to SEDAR+ on December 1, 2025, along with letters from both auditors agreeing with the statements in the notice.

Next Hydrogen, founded in 2007, specializes in the design and manufacturing of electrolyzers that convert water and electricity into clean hydrogen. This process positions the company as a key player in the clean energy sector, utilizing a patented cell design to enhance efficiency and dynamic response, particularly suitable for renewable energy applications. The company aims to scale its solutions to help decarbonize both transportation and industrial sectors following successful pilot projects.

For further inquiries, Raveel Afzaal, the CEO, can be contacted via email at rafzaal@nexthydrogen.com or by phone at 647-961-6620.

Next Hydrogen Solutions Inc. (TSXV: NXH, OTC: NXHSF) recently announced a change in auditors, transitioning from KPMG LLP to MNP LLP, effective December 1, 2025. This transition comes after the resignation of the former auditor at the company's request, with no indications of financial mismanagement as confirmed by the former auditor’s unmodified opinions for the last two financial years.

Changes in auditors can often cause concern in the market; however, in this case, the lack of any reportable events and the clear communication from both auditors suggests a standard procedural change rather than an indication of underlying issues. The board's decision to switch auditors reflects a strategic move that could potentially enhance the company's financial advisory capabilities, especially as Next Hydrogen is poised for significant growth in the clean hydrogen sector.

Next Hydrogen operates in a rapidly evolving market focused on the production of green hydrogen, an essential element in the transition to renewable energy. The company's innovative electrolyzer technology and robust patent portfolio support its competitive position in a sector that aims to decarbonize transport and industrial processes. As Next Hydrogen scales its technology to bring commercial solutions to market, investors should consider both the growth prospects of the clean hydrogen market and the company's capabilities to capitalize on that growth.

In an environment where many traditional energy sectors face increased scrutiny for carbon emissions, Next Hydrogen’s focus on sustainable practices presents a compelling investment thesis. Given the current emphasis on environmental, social, and governance (ESG) investing, Next Hydrogen may find increased interest from institutional investors looking to align portfolios with sustainable technologies.

Investors should monitor upcoming financial disclosures and performance metrics post-transition to assess the implications of the audit change on corporate governance and overall financial health. However, the long-term outlook remains promising, provided that they maintain operational efficiency and continue enhancing their market position in the clean energy landscape.