Quantum Data Energy PLC

(Incorporated in England and Wales)

(Registration Number: 12886458)

LEI :213800HFVHGJ9YGO9F71

Share code on the LSE: MAST

ISIN: GB00BNG90H86

Dated: 6 November 2025

Quantum Data Energy PLC

("Quantum", "QDE" or the "Company")

Quantum's Hindlip 7.5 MW FlexGen Power Project Breaks Ground

and

Progress Update on Acquisition of 7 MW Brownfield FlexGen Site

London, UK - Quantum Data Energy PLC (LSE: MAST) is pleased to announce, further to its previous RNS announcement dated 7 October 2025 that its 7.5 MW Hindlip flexible generation power project ("Hindlip") that is fully funded in partnership with Powertee, has officially broken ground on-site marking a key milestone in the site's construction progress and keeping to the planned timeline to completion of construction and commercial operation and income production.

Further, Quantum is pleased to announce a progress update regarding its acquisition of a 7 MW flexible generation brownfield site as previously announced on 4 September 2025.

Hindlip Construction Progress Key Highlights:

Quantum is pleased to confirm that on-site mobilisation and civil works recently commenced, marking a significant milestone in the delivery of the Hindlip project.

Key activities and next steps are as follows:

·    Site clearance and preparation commenced is expected to continue until mid-November 2025;

·    Retaining walls to be installed by week ending 9 November 2025;

·    Concrete foundation works for the engines, gas metering skid, transformers, control room, and HV switch room are scheduled to start imminently and be completed by approximately 8 December 2025;

·    Permanent site fencing will be installed from mid-November 2025; and

·    Major equipment deliveries and installations, including the Rolls-Royce mtu engines and balance of plant, are expected to commence in early 2026.

These developments reinforce that Hindlip remains firmly on track to achieve commercial operations (COD) in Q2 2026, as previously announced.

Progress photos from the Hindlip site showing the start of civil works are included below:

1.   Site clearance and soil removal starts

2.   Ground preparation for foundations

3.   Quantum's Head of Operations meeting with civil contractor on site

4.   General view of construction mobilisation at Hindlip site

5.   Foundations for retaining walls

Progress Update on Acquisition of 7 MW Brownfield FlexGen Site:

Quantum is pleased to report substantial progress towards the completion of the acquisition of the 7 MW 11kV flexible generation power brownfield site located in England (the "FlexGen Site").

Since the initial announcement, Quantum has achieved the following milestones:

·    Offer to purchase the site as previously announced has been officially accepted by the seller;

·    Technical due diligence has been successfully completed;

·    Full Engineering, Procurement, and Construction ('EPC') scope of work assessment has been completed in consultation with Yellow Power; and

·    Legal due diligence and commercial negotiation of the Sale and Purchase Agreement ('SPA') are well advanced and nearing finalisation.

The Company expects to complete the transaction within Q4 2025, subject to DD and contract, consistent with the timeline previously communicated.

Ivan Wentzel, Head of Operations at Quantum Data Energy PLC, said: "We are delighted with the solid progress across both our Hindlip new-build project and the 7 MW FlexGen Site acquisition. The Hindlip project's progress into the civil construction phase represents another important step toward our COD target in Q2 2026. At the same time, the FlexGen Site acquisition continues to advance in line with expectations, strengthening Quantum's near-term portfolio growth trajectory."

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About Quantum Data Energy PLC:

Quantum Data Energy PLC (LSE: MAST) is a UK-based developer, operator and owner of flexible generation power assets. The Company has deep expertise in infrastructure planning, grid access, gas access, and efficient power supply. Its new AI power supply strategy is intended to position Quantum as a leading AI infrastructure platform on the London Stock Exchange.

Issued Share Capital and TVR:

This part of the announcement is made in accordance with DTR 5.6.1.

Capitalised terms used in this part of announcement have the same meaning as those given to them in the Company's RNS announcement dated 23 May 2025 unless otherwise defined.

The Company announces that following the application to and subsequent approval by the London Stock Exchange for the Prepaid and Cash Warrants block listings as previously announced on 17^th September 2025 and 7^th October 2025 respectively, the Company has issued 57,685,000 shares fully paid ("Ordinary Shares"). The Ordinary Shares' issues follow the exercise of Prepaid and Cash Warrants, issued pursuant to the Equity Fundraise announced on 11 July 2025.

Such Ordinary Shares were admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities under the Company's Prepaid and Cash Warrants block listings facilities. Following this issue, the Company has the ability to issue a further 61,965,142 Prepaid Warrant shares and 242,250,000 Cash Warrant shares under the block listing facilities.

As of 5 November 2025, the Company's issued share capital will consist of 83,095,927 Ordinary Shares with voting rights. The Company does not hold any ordinary shares in treasury. This figure of 83,095,927 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they require to notify their interest in, or a change to their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTR").

Resultingly, as of 5 November 2025, the beneficial holding of Paul Venter, non-executive director and chairman of the Company, will be 2.36% interest in the issued share capital of the Company. Further, as of 1 November 2025, the beneficial holding of Riverfort Global Opportunities PCC Ltd will be 2.05%.

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.