Mast Energy Developments PLC

(Incorporated in England and Wales)

(Registration Number: 12886458)

LEI :213800HFVHGJ9YGO9F71

Share code on the LSE: MAST

ISIN: GB00BNG90H86

("MED" or "the Company")

Dated: 16 September 2025

Mast Energy Developments PLC

("MED" or the "Company")

Artificial Intelligence ("AI") Datacentre Power Supply Strategy Target of 1 GW

Mast Energy Developments PLC is pleased to announce, further to its RNS announcement dated 6 August 2025, a progress update regarding its new AI datacentre power supply strategy, the highlights and details of which are outlined below.

The Opportunity

·    AI demand is exploding across all sectors of the global economy, with a prominent practical example being ChatGPT processing c. 2.5 billion prompts daily and growing rapidly, a growth rate achieved in less than two years, which took Google more than a decade to achieve;

·    The backbone of the rapid growth in AI demand is AI datacentres to process the AI workload, and in turn, AI datacentres have a critical need for stable and reliable power supply;

·    The UK Government is committed to establishing the UK as a leader in the AI datacentre and processing race, with a clear plan to scaling the UK's public sector AI computing capacity by at least 20x by 2030;

·    The likes of inter alia OpenAI (owner of ChatGPT), Nvidia, and BlackRock have each expressed plans to invest major capital in UK AI datacentres;

·    AI datacentre power needs in UK expected to quadruple by 2030 to c. 8 GW;

·    The growth in AI processing is critically dependent on the provision of power supply and associated infrastructure; and

·    MAST is uniquely positioned to be a leading provider of power supply to AI datacentres, and powering the UK's AI revolution.

MAST Today

·    MAST is a developer, operator, and owner of flexible generation power assets in the UK;

·    Deep expertise in infrastructure planning permission, grid- and gas access, and power generation and supply;

·    Proven track record of delivering power in constrained areas; and

·    Track record marked by partnerships with blue chip companies such as Powertree and Rolls-Royce.

MAST Focus on New Strategy

·    Considering the extraordinary opportunity as outlined above, the MAST Board and Management decided to focus on and expedite this new strategy as it believes it will become a major driver of MAST's growth; and

·    In addition to providing power resilience to AI datacentres, MAST also sees an opportunity to develop the UK's first AI campuses which provides further scope and growth potential to the strategy.

MAST Vision and Mission

·    MAST is uniquely positioned to be a leading provider of power supply to AI datacentres, and has set an initial target of developing, acquiring, constructing, and operating 1 GW of AI datacentre power campuses in the UK over the next 36 months;

·    The initial target of 1 GW will comprise c. 12% of the UK's AI datacentre demand by 2030;

·    The growth plan will be rolled out in standard modular blocks of 25-50 MW; and

·    MAST's mission is to be the LSE's leading AI infra platform company.

MAST Growth Roadmap

·    Phase 1 (12 months):              100 MW shovel-ready sites

·    Phase 2 (12-36 months):         300+ MW across AI campuses

·    Phase 3 (36 months +):           Scale to 1+ GW pipeline

MAST Competitive Advantage

·    MAST's deep expertise and strong relationships in the UK power sector, and being a first mover to develop power supply solutions for AI datacentres in the UK, give the Company a unique advantage;

·    Ability to develop land co-located to AI datacentres into low-carbon gas turbine and/or BESS modular power hubs to supply the AI datacentres;

·    Speed to reach commercial operations by including brownfield sites and modular builds; and

·    Increased efficiency and ESG by using excess heat from AI datacentres, water-light cooling, and storing excess power generated during periods of lower computing demand.

MAST Partnerships

·    MAST is supported by exceptional business partners, such a Powertree and C-Zero Markets;

·    To bolster MAST's new AI datacentre strategy, it has entered into a joint venture with C-Zero Markets, as previously announced;

·    MAST is already in discussions with AI datacentre developers and owners to provide its power solutions, and the plan and intention is to enter into exclusive arrangements;

·    Further, MAST is already in discussions with infra investment funds to bolster the necessary funding for its growth plans, in addition to its existing funding arrangements; and

·    Work with local councils to achieve the best outcome for all stakeholders.

Market Comparables

·    Practical examples of other companies outside of the UK that have achieved what MAST is planning to achieve with its new strategy are the likes of Digital Realty, Equinix, NextDC, MicroStrategy;

·    Such companies have also started out with a small market cap / valuation and rapidly scaled to £1+ billion; and

·    Therefore, MAST's new strategy provides significant growth potential for its investors.

First Project

·    MAST is in advanced discussions with an AI datacentre developer and owner regarding a 25 MW top tier AI datacenter campus shovel-ready development;

·    The development already includes 5x 5 MW co-located shovel-ready power supply sites; and

·    The opportunity with the developer is scalable to 100 MW in the short term.

Pieter Krügel, MED CEO, commented: "We are enthusiastic about our new AI datacentre power supply strategy. The Board believes that the AI datacentre growth will be a significant part of the UK economy in future, and MAST is uniquely positioned to be a leading provider of power supply to the rapidly growing number of AI datacentres."

"The MAST Board and Management have carefully crafted this new strategy, and will focus on and expedite the delivery thereof, as we believe that it will be a major driver of MAST's growth going forward. This new strategy will complement MAST's other existing strategies which we are progressing simultaneously and will add pace to achieve our first 300 MW."

"We are looking forward to updating the market with positive developments as we progress this new strategy at some pace."

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Forward-Looking Statements

This RNS announcement contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. No statement in this announcement is intended as a profit forecast, and forward-looking statements speak only as of the date of this announcement. The Company undertakes no obligation to update such statements except as required by law and regulations.

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.

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