THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN CERES POWER HOLDINGS PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

29 June 2023

Ceres Power Holdings plc

("Ceres", the "Company")

Admission to Premium Listing Segment of the Official List and to Trading on the Main Market of the London Stock Exchange

Further to the announcement made on 26 June 2023, Ceres announces that it is expected that the ordinary shares of the Company (the "Ordinary Shares") will be cancelled from trading on the AIM market of the London Stock Exchange at 8.00am today and simultaneously admitted to listing on the premium listing segment of the Official List maintained by the Financial Conduct Authority ("FCA") (the "Official List") and to trading on the London Stock Exchange plc's (the "London Stock Exchange") main market for listed securities (the "Main Market") (together, "Admission") at 8.00am today.

The Company is not offering any new Ordinary Shares nor any other securities in connection with the proposed Admission. Following Admission, the Company's Ordinary Shares will continue to be registered with their existing ISIN of: GB00BG5KQW09 and the Company's TIDM code on the London Stock Exchange will continue to be CWR. At Admission, there will be 192,716,980 ordinary shares in the Company in issue.

The Company's shareholders should consult their own tax advisers as to the tax implications of the Company's proposed move to the Main Market.

Phil Caldwell, Chief Executive Officer of Ceres Power, said:

"As a UK technology business playing an important role in decarbonising the global energy system, we are proud to graduate to the LSE's Main Market. We are committed to realising our ambition to have multi-gigawatts of clean energy technology under licence with global partners in the coming decade. A huge thank you to the team at Ceres and beyond that has made today's milestone achievement possible."

Enquiries and further information                

About Ceres

Ceres is a world-leading developer of electrochemical technologies: fuel cells for power generation, electrolysis for the creation of green hydrogen and energy storage. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such as Weichai in China, Bosch in Germany, Miura in Japan, and Doosan in Korea, to develop systems and products that address climate change for power generation, transportation, industry, data centres and everyday living. Ceres is listed on the AIM market of the London Stock Exchange ("LSE") (AIM: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy.