RNS

30 June 2022

SIMEC ATLANTIS ENERGY LIMITED
("SAE", the "Company" and, together with its subsidiaries, the "Group")

Update on Abundance Bonds

Further to the update on 10 June, SAE is pleased to announce that Atlantis Future Energy debenture holders have voted to accept the request made to defer interest payments falling due on 30 June 2022.

This means that the interest falling due on 30 June 2022 in relation to the debenture principals of £4.97m (interest due of £197,166) and £3.79m (interest due of £150,192) has been deferred for up to 3 months, to 30 September 2022. Additional interest due on the amount that is being paid late will be applied at a rate equivalent to Barclays PLC published base rate + 3% per year.

As previously announced, SAE plans to use some of the proceeds of the revenue coming from the announced BESS project at the Uskmouth site to repay the debenture deeds.

For more information, please contact

Notes to Editors

SAE is a global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development.

https://www.simecatlantis.com/