AFC Energy Plc

23 March 2026

AFC Energy Plc

("AFC Energy" or the "Company")

Directorate Remuneration and Total Voting Rights

AFC Energy Plc (AIM: AFC), a leading provider of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions, announces that further to publication of its Remuneration Report for the year ended 31 October 2025, it has today awarded 2,163,562 ordinary shares of £0.001 in the Company ("Ordinary Shares")  to John Wilson, Chief Executive Officer and 824,767 Ordinary Shares to Karl Bostock, Chief Financial Officer (together the "FY25 Bonus Shares"). The aggregate 2,988,329 Ordinary Shares represents 0.26% of the Company's issued share capital*.

The FY25 Bonus Shares have been approved by the Company's Remuneration Committee.

Director interests

Following the issue of the FY25 Bonus Shares, the below directors will have the following interests in the Company:

*Post issue of FY25 Bonus Shares

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the FY25 Bonus Shares to trading on AIM ("Admission"). It is expected that Admission will become effective at or around 8.00 a.m. on 26 March 2026.

Following Admission, the Company's issued share capital will comprise of 1,136,475,282 Ordinary Shares each with voting rights, and this number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

Set out below are the notifications made in accordance with Article 19 of the UK Market Abuse Regulation.

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ABOUT AFC ENERGY

AFC Energy Plc is a leading provider of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions. Our market-leading decentralised ammonia cracker and fuel cell generator products are engineered to unlock the low carbon hydrogen market by meeting customers' needs with scalable, reliable supplies of low carbon hydrogen and power. AFC Energy is enabling customers to decarbonise at a price that is commercially viable.

We are focused on the successful commercial rollout of our core product suite and on creating significant shareholder value by converting our growing opportunity pipeline into contracted orders and delivering sustained revenue growth.

Our core strategy is to develop and deploy products that enable the production of scalable, reliable supplies of clean hydrogen at commercially viable prices and without reliance on government subsidies or incentives. AFC Energy achieves this through our proprietary, decentralised and modular ammonia cracker technology, and providing low carbon, off‑grid power solutions with our fuel cell generators that are competitive with, and capable of displacing, diesel generators on a total cost of ownership basis.

The Company's modular, decentralised ammonia cracker systems have production capacities of approximately 0.5 and 4 tonnes of hydrogen per day respectively. These enable the generation of scaled volumes of low carbon hydrogen at the point of use within a highly compact footprint. Our systems have the potential to drive substantial revenue growth across a wide range of addressable markets, including hard‑to‑abate industrial facilities, transportation and power generation applications.

AFC Energy's fuel cell generator systems are currently offered with generation capacities of 30 kW and 200 kW. They are well-suited to off‑grid, decentralised and temporary power applications, including the displacement of diesel generators on construction and infrastructure sites. Further use cases include electric vehicle charging for cars, buses and trucks, as well as charging of battery‑powered non‑road machinery, with additional emerging opportunities in maritime, data centre and rail applications.

AFC Energy is listed on the London Stock Exchange's AIM Market and headquartered in Dunsfold, Surrey, UK.

Please read more on our website https://www.afcenergy.com/ and follow us on LinkedIn