Company update

RNS

23 July 2021

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

Company update

SAE, the global sustainable energy generation company and technology developer, refers to its earlier announcements on 18 May 2021 and 9 June 2021 regarding the appointment of receivers over all of the shares of its major shareholder, SIMEC UK Energy Holdings Limited ("SUEH"), which SAE understands owns approximately 41% of the issued share capital of SAE.

The GFG Alliance (of which SUEH is a member) has confirmed to SAE that the receiver's appointment has ceased, and the receivers have resigned as directors of SUEH. The GFG Alliance has also confirmed that they are in control of the SAE shares.

SAE understands that this matter is now resolved and looks forward to a more stable relationship with its major shareholder. SAE is an independent company, whose focus remains the delivery of its world leading projects, which can play a critical role in the journey to net zero.

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Notes to Editors

SIMEC Atlantis Energy

SAE is a global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development. This includes a 77 per cent. stake in the world's largest tidal stream power project, MeyGen, 100 per cent. of the 220MW Uskmouth Power Station conversion project and 100 per cent. of Green Highland Renewables, a leading developer of mini-hydro projects.

https://www.simecatlantis.com/

More on the MeyGen Project: https://simecatlantis.com/projects/meygen/

More on the Uskmouth Project: https://simecatlantis.com/project-development-operation/simec-uskmouth-power/