27 April 2026

 EnergyPathways plc

("EnergyPathways" or the "Company")

Engineering study shortlists sites for MESH onshore facilities in Barrow-in-Furness

Onshore sites evaluated and shortlisted for EnergyPathways' nationally significant MESH energy project

EnergyPathways (AIM: EPP), the energy transition company, is pleased to report that Costain Group PLC ("Costain") has completed a first phase of engineering studies for locating onshore facilities for EnergyPathways' MESH project at Barrow-in-Furness, Cumbria. Costain evaluated a number of potential site locations and shortlisted them for further evaluation and front-end engineering and design. Costain is now progressing with a second phase of detailed engineering design work for the MESH onshore facilities.

The MESH project, designated as a project of "national significance" by the UK Department of Energy Security and Net Zero (DESNZ) in September 2025, is an integrated long-duration energy storage project located in the east Irish Sea. It will be connected to Britain's energy network via new and existing pipelines and transmission lines. MESH will combine compressed air, natural gas and hydrogen storage within purpose-built offshore salt caverns and flexible medium-range gas field storage.

EnergyPathways aims to develop a sustainable industry park at Barrow-in-Furness which over time may incorporate onshore facilities comprising:

·    hydrogen and graphite production facilities;

·    clean ammonia production facilities;

·    energy storage operations base;

·    connection infrastructure for the MESH offshore LDES and gas storage facilities; and

·    onshore energy storage and industrial product export facilities.

The development of these facilities will be dependent on EnergyPathways securing financing and planning approvals for the MESH development. The MESH project closely aligns with the UK's energy, industrial and economic growth strategies, alongside the UK's 2035 Critical Minerals strategy ambitions. It is intended that the MESH hydrogen production facility will produce graphite, a critical mineral essential for use in civil nuclear, defence and battery systems, as a by-product.

MESH also complements the UK Government's ambitions to strengthen and diversify Barrow's economy. The development masterplan for Barrow is being spearheaded by Team Barrow, a UK Government initiative that involves BAE Systems, Westmorland & Furness Council and the Department of Housing, Communities and Local Government, as well as a range of local and national companies and organisations. Team Barrow has publicly welcomed the MESH project.

Ben Clube, CEO of EnergyPathways, said:

"We are delighted to be working with Costain on the engineering of our onshore facilities to be located in Barrow-in-Furness.

"Both EnergyPathways and Costain are very encouraged by the constructive engagement that we have had with local government and regional stakeholders in developing our plans for energy transition growth and new industry in Barrow-in-Furness.

"The potential to develop a significant sustainable industry park in Barrow-in-Furness is very exciting. Costain has provided a strong foundation of front-end engineering design and has identified a number of quality sites for locating the MESH project's onshore facilities. We look forward to working with Costain to complete a second phase of more detailed engineering work to advance the MESH project towards FID".

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About Costain: Costain Group is a leading UK-based sustainable infrastructure solutions company, founded in 1865. Listed on the London Stock Exchange, it specializes in transportation, water, and energy sectors, delivering large-scale engineering projects. Costain focuses on integrated services, ranging from consultancy to project delivery and operations.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.