28 October 2021

ITM Power plc

("ITM Power" or the "Company")

Re-Issue of Notice of General Meeting

It has come to the Board's attention that the notice published by the Company on 15 October 2021 convening a general meeting of the Company (the "General Meeting") invited shareholders to the General Meeting through an online audio and presentation link (due to the Covid-19 situation) but did not specify a physical location for the General Meeting in accordance with the Company's articles of association and the Companies Act 2006. The Board has been advised that it is necessary to issue a revised notice of General Meeting in substitution of the previous notice of General Meeting.

Consequently, the Company will issue a new notice of General Meeting to rectify the omission. Since a minimum of 14 days have to elapse between the issuance of the new notice and the General Meeting, the Board wishes to advise that the General Meeting shall be held on a new date being 15 November 2021 at 10:00 a.m. at 2 Bessemer Park, Sheffield S9 1DZ.

The revised timetable will be as follows:

·    Date of Notice of General Meeting: 28 October 2021

·    Date of General Meeting: 15 November 2021

·    Expected Date of Admission and Settlement: 16 November 2021

The latest time and date at which Admission can occur remains, as described in the results of capital raise announcement published by the Company on 15 October 2021, as no later than 8.00 a.m. on 18 November 2021. 

The new notice of General Meeting together with new forms of proxy will be sent by post today and electronic copies are available on the Company's website at www.itm-power.com. There are no changes to the business to be considered at the General Meeting.

Shareholders who wish to vote at the General Meeting via proxy should complete and return the new forms of proxy which will posted to them. Forms of proxy which have already been returned to the Company will be disregarded.

Given the current Covid-19 situation in the UK, the Board is recommending that shareholders do not attend the General Meeting's physical venue. However, in order to ensure that Shareholders are able to follow the proceedings of the General Meeting, the Company will provide access to an online audio and presentation link, accessible via the online Investor Meet Company platform. Shareholders that wish to follow the proceedings of the General Meeting virtually should register for the event in advance via the following link: https://www.investormeetcompany.com/itm-power-plc/register-investor. The online presentation link will be opened for registration on or around 29 October 2021. However, please note that Shareholders will not be able to vote at the General Meeting via the online presentation link.

Capitalised terms used in this announcement have the meanings given to them in the proposed accelerated capital raise announcement published by the Company on 14 October 2021.

For further information please visit www.itm-power.com or contact:

About ITM Power plc:

ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. ITM Power signed a deal to deploy a 10MW electrolyser at Shell's Rhineland refinery in 2017. In October 2019, the Company announced the completion of a £58.8 million fundraising, including an investment by Linde of £38 million, together with the formation of a joint venture with Linde to focus on delivering renewable hydrogen to large-scale industrial projects worldwide. In November 2020, ITM Power completed a £172m fundraising, including a £30m investment by Snam, one of the world's leading energy infrastructure operators. ITM Power operates from the world's largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum. ITM Power received an order for the world's largest PEM electrolyser of 24MW from Linde in January 2021. Other customers and partners include Sumitomo, Ørsted, Phillips 66, Scottish Power, Siemens Gamesa, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, GNVert, National Express, Toyota, Hyundai and Anglo American among others.

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