Result of Fundraising and Notice of GM

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR AN OFFER IN RESPECT OF ANY SECURITIES AND NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, FORMS OR IS INTENDED TO FORM THE BASIS FOR ANY INVESTMENT DECISION IN RESPECT OF STAR ENERGY GROUP PLC OR OTHER EVALUATION OF ANY SECURITIES OF STAR ENERGY GROUP PLC OR ANY OTHER ENTITY AND SHOULD NOT BE CONSIDERED AS A RECOMMENDATION THAT ANY INVESTOR SHOULD SUBSCRIBE FOR OR PURCHASE ANY SUCH SECURITIES.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

1 May 2026

Star Energy Group plc

("Star Energy" or "the Company")

Result of Fundraising and Notice of GM

Star Energy (AIM: STAR), a British energy company with core activities centring on oil and gas extraction, announces that, further to its announcement at 5:00 pm on 30 April 2026 (the "Announcement"), it has successfully completed and closed the Placing.

The Placing has conditionally raised gross proceeds of c.£8.5 million (before expenses) through the placing of 56,716,664 Placing Shares to new and existing investors. In addition, as part of the Fundraise, Ross Glover, Frances Ward, Kate Coppinger, Anthony White, Aneliya Erdly and Philip Jackson , each a Director of the Company, have agreed to subscribe for 206,665 Subscription Shares at the Issue Price, which is expected to raise £31,000 (before expenses), further details of which are set out below.

In addition to the Placing and the Subscription, the Company is providing existing eligible shareholders with the opportunity to subscribe for up to 4,000,000 Retail Offer Shares at the Issue Price, to raise up to £0.6m (before expenses) pursuant to the separate Retail Offer being made by the Company. No part of the Placing is conditional on the Retail Offer proceeding or on any minimum take-up on the Retail Offer. The launch of the Retail Offer is expected to occur shortly following this announcement.  

The Issue Price of 15 pence represents a discount of 9.2 per cent. to the Closing Price of 16.25 pence per Ordinary Shares on 30 April 2026, being the last practicable day before the release of this announcement.

Zeus Capital Limited ("Zeus") is acting as nominated adviser to Star Energy and broker and bookrunner and VSA Capital Limited is acting as agent in connection with the Placing.

The Subscription

All the Directors have agreed to subscribe directly with the Company for the Subscription Shares. Details of their participation are set out as follows:

The participating Directors have agreed to subscribe for a total of 206,665 new Ordinary Shares, representing 0.16 per cent. of the Existing Share Capital of the Company.

General Meeting and Posting of Circular

The Fundraising is conditional upon, inter alia, the approval by the Shareholders of the Resolutions to be proposed at the General Meeting to be held at the offices of Watson Farley & Williams LLP at 15 Appold Street, London, EC2A 2HB at 10.30 a.m. on 18 May 2026. A circular, containing further details of the Fundraising, notice of General Meeting and proxy form (together the "Circular") will be despatched to Shareholders shortly and the Circular will also be made available on the Company's website at https://www.starenergygroupplc.com/

Recommendation

The Directors consider the Resolutions being proposed at the General Meeting to be in the best interests of the Company and the Shareholders as a whole. Consequently, the Directors unanimously recommend that you vote in favour of the Resolutions to be proposed at the General Meeting, as they intend to do in respect of the 646,200 Existing Ordinary Shares held, directly or indirectly, by them representing approximately 0.5% per cent. of the total voting rights of the Company in issue.

Admission

Application will be made to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM ("Admission"). It is expected that, subject to the necessary Resolutions being passed at the General Meeting, Admission will become effective and dealings in the New Ordinary Shares will commence at 8:00 a.m. on 19 May 2026. The New Ordinary Shares will be issued fully paid and will rank pari passu in all respects with the Company's Existing Ordinary Shares.

Admission is conditional, inter alia, upon Admission becoming effective, the Placing Agreement not having been terminated and becoming unconditional, and upon the approval of the Resolutions by the Shareholders at the Company's forthcoming General Meeting to be held on 18 May 2026.

Capitalised terms used but not defined in this announcement have the meanings given to them in the Company's announcement released at 5:00pm on 30 April 2026 in respect of the Proposed Placing to raise up to £8.4 million (before expenses), Subscription to raise £31,000 (before expenses) and Retail Offer to raise up to £0.6m (before expenses) unless the context provides otherwise.

Ross Glover, Chief Executive Officer of Star Energy plc, commented:

"We are delighted with the strong support shown by our existing shareholders. This successful Placing represents a clear vote of confidence in Star Energy, our people and our strategy. It gives us the platform to move forward with our plans to materially grow production. We are grateful for existing shareholders' continued support and look forward to welcoming new investors and delivering on the opportunity ahead."

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