Equipmake Holdings PLC

("Equipmake" or the "Company")

Result of Placing

Equipmake, the UK developer and manufacturer of electrification products for the provision of electric vehicle ("EV") drivetrains, is pleased to announce the completion of the Bookbuild, following the announcement of the Trading Update and Proposed Placing made by the Company earlier today. A total of 124,700,000 Placing Shares have been placed at a Placing Price of 5 pence per Placing Share to raise a total of £6.235 million for the Company (before expenses).

Application will be made for the Placing Shares to be admitted to trading on the Aquis Apex exchange. It is expected that dealings in the New Ordinary Shares in relation to the VCT Placing Shares will commence at 8:00 a.m. on 31 January 2023 ("First Admission") and dealings in the New Ordinary Shares in relation to the Non-VCT Placing Shares is expected to commence at 8:00 a.m. on 1 February 2023 ("Second Admission").

Upon First Admission, the Company will have 847,156,405 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 847,156,405 and shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

Upon Second Admission, the Company will have 948,229,409 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 948,229,409 and shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules

Panmure Gordon acted as corporate adviser and joint broker and VSA acted as joint broker in connection with the Placing.

Defined terms used in this announcement not otherwise defined in this announcement are defined in the announcement of the Trading Update and Proposed Placing made by the Company earlier today.

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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) ("UK MAR")). In addition, market soundings (as defined in UK MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in UK MAR), as permitted by UK MAR. This inside information is set out in this announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.