20 February 2025

SIMEC Atlantis Energy Limited

("SAE Renewables", "SAE" or the "Company")

SAE's vision for Uskmouth Sustainable Energy Park ("USEP") - facilitating the expansion of renewable power and supporting the development of data centres and the AI revolution in Newport

SAE is the owner, developer and operator of the USEP. The site has been home to electricity generation for over 50 years but the way electricity is generated and used is changing and SAE is proud to be leading that change. SAE is transforming Uskmouth into one of the largest Battery Storage sites in the UK to help support the energy transition to Net Zero while ensuring vital energy security and facilitating the increase of renewables.

Graham Reid, CEO of SAE, sets out the Company's vision for the site:

"The Uskmouth site has always inspired me. As an engineer, I see the craftsmanship, passion and effort that has gone into creating this site and ensuring its vital operation for over five decades. I want to do all in my power to build on this legacy and redevelop the site to ensure that its purpose of serving our community and unlocking economic and social growth continues. For SAE, batteries are the key to unlocking this and the site is capable of supporting over 3.5GWh of Battery Storage projects. We already have one Battery Storage project in construction in the USEP, and while we sold that project prior to construction, it delivered vital revenue for our business that has enabled us to put the foundations in place to realise our vision for a broader Sustainable Energy Park.

We are totally focussed on building, owning and operating the next three Battery Storage projects at USEP, named after the River Usk, in Welsh Afon Wysg - "AW1", "AW2" and "AW3".

However, our vision goes beyond Battery Storage and I wanted to share, with our shareholders, stakeholders and partners, the possible future opportunities.

We recognise that technology, specifically AI, is a huge growth sector. This growth is exciting, and the UK has clear ambitions to benefit from this growth, but the technology requires large areas of land for data centres, electrical grid access with a guaranteed continuous supply of electricity, and rail and road connections to bring in the materials for construction. We have all these components at Uskmouth.

Amongst the key challenges are that AI and big data require substantial amounts of power with a very high degree of reliability, which can only be guaranteed by having on site power generation or Battery Storage to supplement grid supply. Uskmouth's access to the national electricity grid and SAE's plans to develop significant Battery Storage capacity that will ensure continuous power supply on site, making the USEP an ideal location for the development of data centres that will power the AI revolution.

Internationally, the developers of these vast data centres are speaking to developers of Small Modular Nuclear Reactors and other sustainable power generators to unlock these investments.

SAE is already in discussions about facilitating the development of data centres powered by reliable and sustainable energy generation, putting USEP at the forefront of technological development in the UK. While these discussions are at an early stage, there is great interest in investing in and around our site meaning the opportunity is vast. A fully realised USEP could create hundreds of jobs in construction for over a decade and unlock thousands of wider jobs in power generation and associated industries.

The team at SAE, Uskmouth's local politicians and our partners at Uskmouth can see this opportunity. We all understand that this is some years off, but the next and critical step is delivering the first AW1 project. This is the key to unlocking an economic, environmental and social revival at Uskmouth, and beyond."

Jessica Morden MP for Newport East, commented:

"The growth of Newport's economy as a key player in the industries of the future will depend on access to power, and, when fully realised, SAE's Uskmouth site will play a key part in that, storing and generating clean, renewable energy that could be fed directly into the grid to power data centres and the city's semiconductor cluster.

As what will probably be the biggest battery storage site in the UK, this is yet another area where Newport is leading the way."

Councillor Dimitri Batrouni, Leader of Newport City Council commented:

"The rebirth of Uskmouth power station is critical to Newport. Newport's present and future in the semiconductor, data and AI space is extremely promising, but its growth is dependent on a reliable, sustainable and expandable energy source. This is where Uskmouth fits in. If the plans outlined are realised, Uskmouth will once again play a significant role in driving the city's, and the region's, economic growth, providing jobs and wealth for the area."

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Notes to Editors

SAE is a global developer, owner and operator of sustainable energy projects. SAE owns the world's flagship tidal stream project, MeyGen, and the Uskmouth Power Station site, that is being repurposed into a sustainable energy park that will become one of the UK's largest battery energy storage sites. https://www.saerenewables.com/

SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here

SAE's strategy: "Building a Sustainable Future to 2035", can be viewed here

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