For immediate release

17 September 2026

ATOME PLC

(“ATOME” or the “Company”)

Notice of Dispute and Intent to Submit Claim to Arbitration under the UK – Paraguay Bilateral Investment Treaty (“the Treaty” or “BIT”)

Claim independently assessed to be very substantial

ATOME (AIM: ATOM), provides an update further to previous announcements regarding the Power Purchase Agreement ("PPA") for the Villeta Project in Paraguay ("Villeta" or "Project").

ATOME remains in discussions relating to ATOME’s shovel ready Villeta Project, the largest single foreign industrial investment in the history of Paraguay totaling US$665 million. Notwithstanding this, ATOME as a public company, having received positive legal advice, is mindful of its responsibilities to its shareholders and its obligations to protect its legitimate rights.

Against this background on 17 September 2026, ATOME PLC, through White & Case LLP, will today serve a Notice of Dispute and Intent to Submit a Claim to Arbitration on the Republic of Paraguay (“the Notice”) pursuant to the Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Paraguay for the Promotion and Protection of Investments (“the BIT”). In preparation of the Notice, the extent of the claim, if made, has been independently assessed by an internationally reputable damages expert as very substantial i.e. well into nine figures in US Dollars to the extent it would be, if made, one of the largest if not the largest ever claims against the Paraguay State under any bilateral investment treaty.

The Notice states that an investment dispute exists as a result of Paraguay’s acts and omissions in violation of the BIT, including its revocation of the Presidential Decrees issued by the Paraguayan State that supported the Project and provided certainty on term and price under the PPA.

The Notice urges the Paraguayan State to engage in discussions to amicably resolve the matter. 

The UK Government has been informed of the submission of the Notice as has the Embassies of the EU, France, Germany and the United States in Paraguay as well as the Paraguayan Embassy in London. In accordance with the BIT, the Notice states if the dispute has not been resolved within a period of three months i.e. a viable resolution not achieved ATOME will pursue its claim under the BIT against Paraguay at the International Centre for Settlement of Investment Disputes in Washington D.C.

The US$665 million Villeta Project is backed as previously reported by binding funding commitments from major multilateral development banks, including IDB Invest, the Inter-American Development Bank’s (“IDB”) private sector lending arm; the International Finance Corporation (“IFC”), the World Bank Group’s private sector lending arm; the Dutch Entrepreneurial Development Bank (“FMO”); the European Investment Bank (“EIB”), the lending arm of the European Union; the Green Climate Fund, which is administered by the World Bank; the German Investment Corporation (“DEG”), a subsidiary of KfW, Germany’s State-owned investment and development bank; Impact Fund Denmark, an investment arm of the Danish Government; and Hy24, the world’s first and largest hydrogen private equity asset manager.

If allowed to be completed, the Project would make Paraguay a world leader in the production of green fertiliser and the fertiliser industry in South America, strengthening local and international food security, creating some 4,000 jobs during construction and over 1,000 jobs during operations, and making material contributions to the country’s GDP and economy.

ATOME, whose major third-party investor shareholders and stakeholders include Schroders of the UK, Baker Hughes of the US and Casale of Switzerland will continue to make constructive efforts to amicably resolve the relevant issues but will pursue its rights under international law if it deems necessary.

ATOME will continue to keep the market informed at all material times and in the meantime all other projects of ATOME continue unaffected.

For more information, please visit https://www.atomeplc.com or contact:

MAR

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Peter Levine, Chairman.

IMPORTANT NOTICE

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the FCA, is acting as nominated adviser to the Company. Beaumont Cornish will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. No representation or warranty, expressed or implied, is made by Beaumont Cornish or any of its directors, officers, partners, employees, agents or advisers as to the contents herein including in its accuracy, completeness or verification, or for any other statement made or purported to be made by it or on its behalf, in connection with the Fundraising or Transaction. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders or any other person.

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