28 September 2026

EnergyPathways plc

("EnergyPathways" or the "Company")

Proposed Fundraise and Capital Access Window

EnergyPathways plc ("EPP"), the UK energy transition company, announces that it intends to undertake a fundraising with institutional investors through the issue of new ordinary shares in the Company (the "Proposed Fundraise").

Use of Proceeds

The funds will be used to progress activities for its MESH project, set to be the UK's largest Long Duration Energy Storage (LDES) project, which include licence work commitments, activities for its LDES Ofgem cap and floor submission, and planning and permitting activities.

Capital Access Window

Following the recent updates to the AIM Rules for Companies announced in August 2026, to support the Proposed Fundraise, the Company will enter a Capital Access Window with effect from 7.30am BST today. This is a voluntary temporary pause in the trading of the Company's shares on AIM to achieve pricing stability during the Proposed Fundraise. Following the successful conclusion of the Proposed Fundraise, the Company intends to undertake an offer to retail investors on the same terms as the Proposed Fundraise. The Capital Access Window will remain in place until a further announcement is made detailing the results of the Proposed Fundraise.

This announcement does not constitute an offer of securities in any jurisdiction. The Proposed Fundraise, if implemented, will be the subject of further announcements, which will include the material terms and conditions of the Proposed Fundraise.

About MESH

The MESH Long Duration Energy Storage project has been designated as a project of "national significance" by the UK Government.

It combines compressed air energy storage with natural gas and hydrogen storage. It is set to become the UK's largest LDES project at 300 MW / 55 GWh / 100+ hours. It aims to start up hydrogen production operations in 2029-2030, followed by LDES operations starting up in 2031-2032, subject to government policy development, approvals and financing.

Significantly, MESH offers a multi-day storage capability in excess of 100+hours and so will be able to capture the UK's mounting surplus wind power being generated which is being wasted.

Last year the cost to consumers of switching off wind farms and replacing this with expensive gas power was in excess of £1.5 billion. By 2030, this is expected to increase to more than £8 billion as wind surpluses increase on the back of the planned increase in wind capacity which together with "must run" generation will reach around 80 GW compared with current average electricity demand of around 37 GW.

Other storage technologies, such as batteries, only store for a handful of hours at best (1-4 hours) and are not viable to handle multi-day wind surplus and deficit events typical of UK weather.

MESH's low-cost hydrogen production provides a decarbonisation pathway for the UK's gas consumption. It further enhances MESH's capability to store energy and supply flexible low-carbon dispatchable power for days to weeks and even seasons acting as an important strategic reserve. It will significantly strengthen national energy security and the UK grid's stability and reliability while also reducing greenhouse gas emissions.

By capturing the huge waste in wind power, MESH will lower system energy costs, provide system flexibility over any timeframe to strengthen energy security reduce the UK's current over-reliance on gas to backup renewables.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). The Directors of the Company are responsible for the contents of this announcement.

END

Investor Engagement with EnergyPathways

Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://energypathways.uk/

Enquiries

 Forward Looking Statements

This announcement contains 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 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.