RNS

10 December 2021

SIMEC ATLANTIS ENERGY LIMITED
("SAE", the "Company" or the "Group")

Share Issuance

The Company announces that the subscriber under the share placement deed (the "Subscription Agreement"), the details of which were announced to the market on 16 December 2020, has requested that the Company issue 26,230,769 ordinary shares ("Placing Shares") to the subscriber in relation to £341,000 of the subscription, the purchase price of which has been prepaid by the subscriber. Application has therefore been made for the Placing Shares to be admitted to trading on AIM with admission expected to take place on or around 15^th December 2021 ("Admission"). On Admission, the Placing Shares will rank pari passu in all respects with all existing ordinary shares in the Company. Following the issuance of the Placing Shares, no further shares remain to be issued under the Subscription Agreement.

Following Admission of the Placing Shares, the Company's enlarged issued share capital will comprise 722,812,335 ordinary shares with voting rights. This figure of 722,812,335 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

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Notes to Editors

SIMEC Atlantis Energy

SAE is a global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development. This includes a 77 per cent. stake in the world's largest tidal stream power project, MeyGen, 100 per cent. of the 220MW Uskmouth Power Station conversion project and 100 per cent. of Green Highland Renewables, a leading developer of mini-hydro projects.

https://www.simecatlantis.com/

More on the MeyGen Project: https://simecatlantis.com/projects/meygen/

More on the Uskmouth Project: https://simecatlantis.com/project-development-operation/simec-uskmouth-power/