We investigate equilibrium chemistry between a metal-core, a silicate-mantle, and a hydrogen-rich atmosphere (reactive core model) using 18 independent reactions among 25 phase components for sub-Neptune-like exoplanets. We find hydrogen and oxygen typically comprise 1-2% and ~10% by weight of the metal-core, respectively, leading to under-dense cores and thereby offering a possible alternative explanation for the densities of the Trappist-1 planets. In addition, hydrogen occurs at about 0.1% by mass in the silicate mantle, setting a maximum limit to the hydrogen-budget for out-gassing by future super-Earths. The total hydrogen-budget of most sub-Neptunes can be, to first order, well estimated from their atmospheres alone, as more than ~93% of all H resides in their atmospheres. However, reactions with the magma ocean produce significant amounts of SiO and H_2O in the atmospheres which increase the mean molecular weight averaged over the whole atmosphere, by about a factor of two, to ~4 amu. We also investigated the case where metal is excluded from the equilibrium chemistry (unreactive core model). In this case, we find most noticeably that, as the hydrogen mass fraction is reduced from 2% to 1%, the atmosphere becomes water dominated and large fractions of H are absorbed by the magma. As water dominated atmospheres appear inconsistent with observations, we conclude that either the unreactive core model does not apply to sub-Neptunes and that their evolution is better described by a reactive core, or that in-gassing of hydrogen into the mantle is much less efficient than permitted by equilibrium chemistry.