This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

24 April 2026

Active Energy Group plc

("Active Energy", the "Company" or the "Group")

LOI signed with Bitdeer Middle East Technology Ltd. to Accelerate 100MW Digital Infrastructure Strategy

Active Energy (AIM: AEG | OTC: AEUSF) is pleased to announce that it has signed a non-binding Letter of Intent ("LOI") with Bitdeer Middle East Technology Ltd., a wholly owned subsidiary of Bitdeer Technologies Group (NASDAQ: BTDR) ("Bitdeer"). Bitdeer is a global leader in digital asset mining infrastructure and ASIC manufacturing.

The LOI establishes the framework for a strategic joint mining partnership, positioning Active Energy to rapidly transition into a scaled, revenue-generating digital infrastructure platform aligned with its targeted 100MW rollout.

Strategic Partnership with a Global Market Leader

Under the proposed structure, the parties intend to enter into a joint mining agreement on a profit‑sharing basis, combining Active Energy's secured power and infrastructure platform with Bitdeer's mining technology and operational expertise.

Under the arrangements:

·      Active Energy will provide grid‑secured ultra-low-cost power, data centre infrastructure, hosting services and ongoing operational management; and

·      Bitdeer will deploy and supply the mining equipment together with associated technical support.

Each party will retain ownership of its respective assets, creating a highly capital-efficient and scalable model.

Through this partnership, Active Energy gains access to volumes of mining equipment and specialist technical capability that would otherwise require substantial upfront capital investment. This enhances the Company's ability to scale its operations while maintaining a disciplined, infrastructure‑led and capital‑light strategy.

Attractive, Dual-Layer Revenue Model

The proposed structure provides Active Energy with multiple revenue streams, including:

·      Recurring revenues from infrastructure, power provision and hosting services; and

·      Additional upside through a profit-sharing mechanism linked to mining output, currently under negotiation.

This model is designed to generate stable base revenues while providing exposure to digital asset production and potential upside from market conditions.

At current digital asset pricing levels and assuming full deployment of the targeted capacity, the Company expects the platform to deliver meaningful gross revenue potential at scale, before operating costs and network adjustments.

Positioned for Scalable Growth

The LOI reflects increasing demand from global operators for reliable, compliant and scalable infrastructure solutions in key energy markets. Active Energy's strategy - focused on ultra-low cost power, securing grid capacity and deploying flexible, modular infrastructure - positions the Company to capture this demand efficiently and at scale.

The Board believes that partnering with a Nasdaq-listed operator of Bitdeer's scale provides strong third-party validation of the Company's platform, strategy and growth trajectory.

Disciplined, Capital-Efficient Expansion Strategy

Active Energy's 100MW rollout is underpinned by a highly capital-efficient model, with overall capital requirements reduced through the proactive acquisition of grid connections on deferred payment terms and a disciplined approach to infrastructure development.

This approach materially lowers upfront capital intensity and positions the Company to scale in a controlled and efficient manner. As assets are brought into operation, the platform is expected to increasingly support its own growth through internally generated cash flows, reinforcing a self-sustaining expansion model.

Final revenue outcomes will vary materially depending on the price of digital assets, network difficulty, equipment performance and final commercial terms, and are not guaranteed.

Next Steps

The LOI sets out the framework for a definitive agreement and remains subject to due diligence, final commercial terms and execution of binding documentation.

The Board believes this agreement represents a significant step in positioning Active Energy as a scaled digital infrastructure platform and a partner of choice for global operators seeking efficient deployment solutions.

Further updates will be provided in due course. 

Paul Elliott, CEO of Active Energy Group plc, commented: "This is a defining step forward for Active Energy. Partnering with a Nasdaq-listed global leader such as Bitdeer materially accelerates our strategy and validates the strength of our infrastructure platform.

Crucially, this partnership provides us with access to large-scale mining equipment and operational capability without the need for significant upfront capital investment. This allows us to scale quickly, efficiently and in line with our infrastructure-first model.

Our focus now is on disciplined execution and scaling this platform towards our 100MW target and beyond."