29 September 2022

AFC Energy PLC

("AFC Energy" or the "Company")

Appointment of Chief Financial Officer

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce its intention to appoint Peter Dixon-Clarke to the board as Chief Finance Officer. A further announcement will be made at such time as his appointment becomes effective.

Mr Dixon-Clarke brings 30 years' experience in senior finance roles, largely in the energy or financial services sectors. Peter has been involved in equity fund raising (private and public), debt financing and refinancing, strategic roles and reorganising financial teams and systems. Prior to joining, Peter was Chief Financial Officer at AIM listed vanadium flow battery company Invinity Energy Systems and previously had leadership roles with Hotspur Geothermal Limited and Rockhopper Exploration plc.

Peter is a member of the Institute of Chartered Accountants in England and Wales.

The information included below is required under Rule 17 of the AIM Rules for Companies ("AIM Rules") and Schedule Two Paragraph (g) of the AIM Rules:

Mr Peter Dixon-Clarke, aged 56

Mr Dixon-Clarke does not currently hold any shares in, or options over shares in, the capital of the Company.

Whilst at Amlin plc ("Amlin"), Mr Dixon-Clarke was appointed as a director of Hilton Malcolm Underwriting Ltd ("HMU") on 1 April 1995 for Amlin's shareholding and resigned on 15 January 1997. On 7 August 1997 a petition for winding up HMU was presented by Amlin and on 19 November 1997 a compulsory winding up order was made and liquidators were appointed. Amlin was the only creditor.

Save as set out above, there is no further information required to be disclosed pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM Rules.

Commenting on his appointment, Adam Bond, Chief Executive Officer at AFC Energy, said: "We are delighted to have Peter join AFC Energy as Chief Financial Officer and an Executive Director on our Board.  Peter brings a long history in the energy industry working with both listed and non-listed companies across the conventional and new energy space and I look forwards to working closely with Peter as part of the Company's Executive Team."

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About AFC Energy

AFC Energy plc is commercialising scalable "fuel flexible" fuel cell systems, to provide clean electricity for on and off grid applications. The technology, initially pioneered in the UK, is now deployable in electric vehicle chargers, off-grid decentralised power systems and data centre applications with emerging opportunities across maritime and rail as part of a portfolio approach to the decarbonisation of local electricity needs.