AFC ENERGY PLC

Share Issue/Capital Change • May 13, 2024

National Storage Mechanism | Additional information

RNS Number : 2207O

AFC Energy Plc

13 May 2024

13 May 2024

AFC Energy PLC

("AFC Energy" or the "Company")

Director Share Options

AFC Energy (AIM: AFC) announces an amendment to its existing share option agreement with CEO Adam Bond in respect of 6,000,000 share options (the "Share Options"), dated July 2015 (the "Share Option Agreement"). The period in which Adam Bond may exercise such Share Options is due to expire on 17 July 2025 and the Company considers it desirable to extend the expiry date to 17 July 2028 and as of today, the Share Option Agreement has been amended accordingly. All other terms of the Share Option Agreement remain unchanged.

The total 13,172,269 options currently held by Mr Bond represent approximately 1.76 per cent. of the Company's existing issued share capital.

For further information, please contact:

AFC Energy plc Gerry Agnew (Chair of Remuneration Committee)	+44 (0) 14 8327 6726 investors@afcenergy.com
Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Georgia Langoulant / Brian Hanratty	+44 (0) 207 418 8900
Zeus - Joint Broker David Foreman / James Hornigold (Investment Banking) Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)	+44 (0) 203 829 5000
RBC Capital Markets - Joint Broker Matthew Coakes / Teri Su Eduardo Famini / Jack Wood FTI Consulting - Financial PR Advisors Ben Brewerton / Tilly Abraham / Evie Taylor	+44 (0) 20 7653 4000 +44 (0) 203 727 1000 afcenergy@fticonsulting.com

About AFC Energy

AFC Energy plc is a leading provider of hydrogen energy solutions, to provide clean electricity for on and off grid power applications. The Company's fuel cell technology is targeting near term commercial deployment across the construction and temporary power markets with longer term opportunities in electric vehicle charging, maritime and data centres as part of a portfolio approach to the decarbonisation of society's growing electrification needs.  The Company's proprietary ammonia cracking technology further highlights emerging opportunities across the distributed hydrogen production market with a focus on hydrogen's role in supporting the decarbonisation of hard to abate industries.

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