Disposal and Admission of Subscription Shares

27 June 2023

Echo Energy plc

("Echo" or the "Company")

Disposal and Admission of Subscription Shares

Further to the announcement on 26 June 2023, Echo Energy plc, the Latin American focused upstream energy company, announces that the Disposal has now completed and application has been made for admission of the 115,384,615 New Ordinary Shares issued pursuant to the Subscription ("Subscription Shares") to trading on AIM. This is expected to become effective at 8.00 a.m. on 28 June 2023.

Following admission of the Subscription Shares to trading on AIM, the Company's issued ordinary share capital will comprise 5,676,003,165 ordinary shares of 0.0001 pence each, none of which are held in treasury. Therefore, the total number of ordinary shares with voting rights in Echo following admission will be 5,676,003,165.

The above figure of 5,676,003,165 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement have the meanings given to them in the circular of the Company dated 2 June 2023 unless the context provides otherwise.

Martin Hull, Chief Executive Officer of Echo Energy, commented:

"We are delighted to have completed the transaction, which marks a transformational milestone for the Company. Whilst there are challenges and opportunities, ahead of us as we look to move into a new phase for Echo, we are excited about the path we are now on and look forward to updating shareholders, whom we thank for their ongoing support."

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