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

16 February 2026

Prospex Energy plc

("Prospex" or the "Company")

Tarba - El Romeral Production Re-start

Prospex Energy plc (AIM: PXEN), the AIM quoted investment company focused on European gas and power projects, is pleased to announce that further to its statement issued on 22 January 2026, Tarba Energía S.L. ("Tarba") has restarted electricity generation and sales at the El Romeral gas to power plant in Andalucía, Spain. Prospex has a 100% interest in Tarba.

Following the delivery and installation of the rental transformer in late January, Tarba performed a series of testing and recommissioning steps and regular electricity production has now re-started.  The rental transformer will remain on contract until the delivery of the new electricity transformer, which was ordered from a supplier in Spain last November.  Tarba is in dialogue with that supplier and good progress is being made on the new build.

Tom Reynolds, Prospex's CEO, commented:

"The restart of production at Romeral is a welcome result which now allows Tarba to continue to generate revenue from electricity sales. Tarba will continue to optimise production, taking account of prevailing conditions in the Spanish electricity market to maximise revenue.

"Since joining the Company on 1 February 2026 I have focused on meeting the team, our partners and prospective partners with the objective of understanding how value can be developed from each of our assets. A key catalyst for Romeral is the ongoing permitting process for the planned well programme and meeting the relevant teams within the regulators is a priority. I look forward to keeping shareholders up to date on the permitting process and our broader strategy in due course."

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.

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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.