14 March 2025

SIMEC Atlantis Energy Limited

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

SAE successfully secures contract in latest Capacity Round Auction

SAE is pleased to announce it has secured a 15-year contract to provide vital, reliable electricity for the National Grid in the latest T-4 Capacity Market Auction Round (the "Auction") through its 120MW AW1 Battery Storage project (the "Project"). SAE will be paid £60/kW/year for the duration of the contract.

The Capacity Market ensures the security of electricity supply by providing a payment for reliable sources of capacity.

Success at the Auction provides an additional and fixed revenue stream for the Project and is an important component as SAE works towards financial close of its flagship AW1 Battery Project at the Uskmouth Sustainable Energy Park ("USEP").

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

The results are subject to confirmation by the Secretary of State for Energy Security and Net Zero, which is due by the 24^th March.

- Ends -

For further information, please contact:

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's strategy: "Building a Sustainable Future to 2035", can be viewed in the company's 2024 Annual report, pages 3-4.

https://saerenewables.com/wp-content/uploads/2024/06/268176-SAE-Annual-Report-2023-CL.pdf

Proud to be part of London's universe of Green Economy Equities