Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

2 February 2026

Prospex Energy PLC

("Prospex" or the "Company")

Senior Management Changes: CEO takes up post

Further to the 6 January 2026 RNS, Prospex Energy PLC (AIM: PXEN), the AIM-quoted investment company focused on European gas and power projects, confirms the appointment of Tom Reynolds as director and Chief Executive Officer with immediate effect.

Mark Routh has retired as a director and will remain available to support a smooth and orderly transition over the next three months.

William Smith, Non-Executive Chair of Prospex, commented:

"I would like to thank Mark for his significant contribution to the Company and, in particular, for his achievements in diversifying the Company's asset base over his tenure. On behalf of the Board, I wish him the best for the future. We welcome Tom Reynolds to Prospex.  He brings a value and investment focused approach to the Company, and I am confident in his ability to deliver value to shareholders going forward. "

Tom Reynolds, CEO said:

"Since my appointment was announced in early January, I have  spent significant time with the Prospex team, and I have been consistently impressed by the team's high technical standards and professionalism. Initially, my priority will be to work with the team and our partners to build an asset by asset plan with the objective of growing value. I look forward to engaging with Prospex stakeholders as the Board, team and I develop this plan over the coming months, building on the existing solid foundation."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

* * ENDS * *

For further information visit www.prospex.energy or contact the following:

Notes

Prospex Energy PLC is an AIM quoted investment company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production.  The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low-cost re-evaluation techniques to identify and de-risk prospects.  The Company will rapidly scale up gas production in the short term to generate internal revenues that can then be deployed to develop the asset base and increase production further.