18 January 2023

MOLECULAR ENERGIES PLC

("Molecular" or the "Company")

Exercise of Options and Total Voting Rights

Molecular Energies PLC (AIM: MEN), the international energy company, announces that it has issued and allotted an aggregate of 75,000 new ordinary shares of 1 penny each in the Company ("Ordinary Shares") to senior management and employees of the Company pursuant to share options issued under the terms of the Long Term Incentive Plan on 19 November 2020.

Of the 75,000 ordinary shares being issued 50,000 will be issued to persons discharging management responsibilities ("PDMR") of the Company, the remaining 25,000 will be issued to Non-PDMR's.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 24 January 2023.

The new Ordinary Shares will rank pari passu with the existing shares of the Company. Following the exercise of options, the Company's issued share capital consists of 10,365,373 Ordinary Shares. Accordingly, the figure of 10,365,373 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Contact:

Molecular Energies PLC                                               +44 (0)20 7016 7950

Nikita Levine, Investor Relations                                     [email protected]

finnCap (Nominated Advisor and broker)                      +44 (0)20 7220 0500

Christopher Raggett, George Dollemore

Tavistock (Financial PR & IR)                                       +44 (0)20 7920 3150

Simon Hudson, Nick Elwes, Charles Baister

Notes to Editors

Molecular Energies PLC is an AIM listed company at the forefront of energy development and has interests across the energy spectrum, from oil and gas projects to subdivisions in the green and alternative energy sub-sectors.

The Company has oil and gas production in two geographical markets: Argentina and the United States, as well as exploration assets in both Argentina and Paraguay. The Company also has two separate subdivisions which are focused on early-stage opportunities in the green and/or alternative energy sub-sector.

Activities in the green and alternative energy space are being carried out under the Green House Capital brand and through AIM listed ATOME Energy PLC operating in Paraguay and Iceland, producing green hydrogen and ammonia for use in fuels.

With a strong strategic and institutional base of support, an in-country management team as well as the Chairman whose interests as the largest shareholder are aligned to those of its shareholders, Molecular gives UK investors access to an energy growth story combined with world class standards of corporate governance, environmental and social responsibility.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was Peter Levine, Chairman.