14 April 2026

Beacon Energy plc

("Beacon Energy" or the "Company")

Update regarding LNEnergy Limited ("LNEnergy")

Representation on LNEnergy Board

Beacon Energy (AIM:BCE) announces that, following the completion of its strategic investment in LNEnergy in March 2026, Stewart MacDonald, Beacon's CEO, will join the board of directors of LNEnergy.

The Company also confirms that LNE IOM Limited, in which the Company holds a 49 per cent shareholding, has acquired additional shares in LNEnergy through a rights offering conducted by LNEnergy to raise up to £780,000.

Given the full participation of other LNEnergy shareholders in the rights offering, LNE IOM Limited's shareholding in LNEnergy remains approximately 48 per cent. Under the terms of the transaction agreed with Reabold (as announced on 7 October 2025 and as set out in the Admission Document of 17 February 2026), Beacon's shareholding in LNE IOM Limited will increase to 100 per cent following the satisfaction of certain conditions, including the award of the Production Concession, expected mid 2026 (the "Second Acquisition" as defined in the Admission Document).

LNEnergy will use the proceeds of the rights offering to progress the Colle Santo project and satisfy working capital. LNEnergy is advancing preparations to undertake well integrity tests on the two existing Colle Santo wells which is expected to commence in May 2026. It is also anticipated that LNEnergy will complete FEED on the Colle Santo project during Q2 2026.

In addition, in light of recent commodity price volatility, the Company has published an updated corporate presentation on its website which includes free cash flow projections at a range of European gas prices, prepared by RPS Energy Limited.

The Colle Santo project provides investors with significant exposure to European gas prices. Based on Beacon's 42.3% indirect economic interest in the project (assuming the Second Acquisition is completed), RPS Energy Limited calculate an NPV10 of €37.6m (at €40/MWh) and €52.9m (at €50/MWh), compared with €26.6m as outlined in the CPR dated December 2025, which used a price of ~€30/MWh. These figures highlight the value that could be unlocked as we progress towards production.

Stewart MacDonald, Chief Executive Officer of Beacon Energy, commented:

"Joining the board of LNEnergy marks an important step as we move towards a Final Investment Decision later this year, and I look forward to working closely with the LNEnergy team to deliver the Colle Santo project.

The strong take up in the rights offering by the other LNEnergy shareholders demonstrates their confidence in the Colle Santo project and ensures we are well funded for the next phase of activity.

With well integrity tests commencing in May and FEED completion targeted for Q2 2026, we have a clear and active pipeline of milestones ahead, and we look forward to keeping shareholders updated on our progress."

Enquiries:

For further information, please visit  www.beaconenergyplc.com  

To register for Beacon Energy's email alerts, please complete the following form:  https://www.beaconenergyplc.com/media-centre/news/#alerts

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.