Amendment to Warrant Terms

05 June 2025

Technologies New Energy plc

Amendment to Warrant Terms

Technologies New Energy plc (LSE: TNE), the energy transition company focused on developing clean energy projects to drive industrial decarbonisation for clients with international business operations, announces that that it has entered into a deed of amendment, dated 4 June 2025, in respect of the warrant instrument (cast as a deed) originally executed on 2 March 2022 (the "Instrument").

Pursuant to written consent received from all affected warrant holders, the Company has agreed to the following amendments:

Extension of Exercise Period

The original two exercise periods of the Instrument have each been extended by 12 months. As amended, the warrants are now exercisable as follows:

·    7,941,952 warrants are exercisable from 30 April 2025 (being the date of closing of the acquisition by the Company of Technologies New Energy S.A. (the "Acquisition")) until 30 April 2027 (i.e., a period of 24 months thereafter); and

·    7,941,952 warrants are exercisable from 30 May 2026 (being 13 months after the date of closing of the Acquisition) until 30 April 2028 (i.e., a period of 36 months thereafter).

Amendment to Exercise Price

The exercise price of the warrants has been amended from £0.20 per share to £0.10 per share, aligning with the nominal value of the Company's ordinary shares.

These amendments are jointly intended to enhance the commercial viability of the warrants and the potential capital inflow to the Company.

The board of directors of the Company believes that the amendments to the Instrument represent a proactive and value-accretive step. By improving the likelihood of warrant exercise, these amendments are expected to generate timely capital inflow, which can be deployed to accelerate the development of the Company's biorefinery project pipeline and strengthen its overall working capital position.

José Meneses, Executive Chair and CEO, commented:

"I would like to thank all our warrant holders for their unanimous support of the proposed changes and for their continued backing of Technologies New Energy plc. This outcome reflects the confidence our stakeholders place in the Company's long-term strategy and growth potential.

We remain focused on the development of our innovative and commercially viable biorefinery portfolio, and I look forward to providing further updates on our progress in due course."

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