Mast Energy Developments PLC

(Incorporated in England and Wales)

(Registration Number: 12886458)

LEI :213800HFVHGJ9YGO9F71

Share code on the LSE: MAST

ISIN: GB00BMBSCV12

('MED' or 'the Company')

Dated: 15 December 2023

Mast Energy Developments PLC ('MED' or the 'Company')

Director Loan & PDMR Share Sale

Mast Energy Developments PLC, the UK-based multi-asset owner, developer and operator in the rapidly growing flexible power market, is pleased to announce that Paulus Fillippus Venter, a non-executive director and significant shareholder of the Company, has provided MED with a director loan amounting to £81,329 (the 'Director Loan'). The proceeds of the Director Loan will be used for MED's working capital requirements. In order to fund the Director Loan, Mr. Venter has sold 14,000,000 MED shares (the 'Loan Shares') of his total beneficial holdings of 17,708,538 MED shares. The key terms of the Director Loan are as follows:

·    No fixed term of repayment, with a repayment longstop date of 12 months (from the date of the Director Loan) (the 'Longstop Date');

·    Interest shall accrue and be paid on the principal amount of the Director Loan outstanding at 7% per annum; and

·    The repayment will be by the issuance of the same number of Loan Shares (as Mr. Venter has lost equity number, not equity value, by the Director Loan), subject to the Company complying with its statutory obligations and shareholder authorities (incl. headroom).

As Mr. Venter is a Person Discharging Managerial Responsibility ('PDMR') under the Company's Share Dealing Policy Code, he has obtained consent from the Company for the sale of the Loan Shares, which was completed on 13 December 2023. Mr Venter has also notified the Financial Conduct Authority ('FCA') in the prescribed manner by submitting the details shown on the Dealing Notification Form below.

The Director Loan is a related party transaction under DTR 7.3.3R and the Company has complied with its obligations under DTR 7.3.4R and DTR 7.3.14G.

Following this transaction, Mr. Venter and his related parties will have a beneficial interest of 1.41% in the Company's issued share capital.

Pieter Krügel, CEO of MED, commented: "We are very pleased that Mr. Venter was willing and able to provide MED with a director loan, which shows his ongoing commitment to and support of the business. This loan will ensure that MED's short-term working capital requirements are met while we wait for the JV investment to be completed, as per our recent announcements."

DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

**ENDS**

This announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ('UK MAR'). Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please visit www.med.energy or contact: