Global Interconnection Group — M&A Activity 2026

Apr 24, 2026

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS.

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EU MARKET ABUSE REGULATION.

GLOBAL INTERCONNECTION GROUP LIMITED

("GLOBAL INTERCONNECTION GROUP", "GIG" or the "Company")

in respect of

GLOBAL INTERCONNECTION GROUP Ordinary Shares

ISIN Code GG00BMB5XZ39

Listed on Euronext Amsterdam: XAMS: CABLE

and

ASC Energy plc 2056 Index-Linked Convertible

GreenBonds (ISIN: NL0015001FM1)

Advanced Cables plc 2028 Index-Linked Convertible

GreenBonds (ISIN: NL0015001FN9)

listed on The International Stock Exchange

24 April 2026

Strategic update: continued delivery across core workstreams, receipt of proposal and grant of limited exclusivity

Global InterConnection Group Limited announces that, following the Annual General Meeting and the shareholder approvals announced on 12 February 2026, the Company has received a non-binding proposal, together with related Heads of Terms, in respect of the separation and restructuring of its infrastructure development activities from an associated party and has been granted a limited and conditional exclusivity agreement for a period of 21 days in order to permit an orderly evaluation process, negotiation of documentation and continued engagement with relevant stakeholders and advisers, conditional on the achievement of certain agreed milestones.

The Board's priority remains delivery on all fronts.

That means, first, progressing the restructuring process in a disciplined and orderly way, including proper review of the Proposal and Heads of Terms through an appropriate governance process.

Secondly, encouraging and supporting the management team to continue executing actively across the Group's core commercial workstreams, including the advancement of the HVDC cable monetisation and financing strategy; continued development of the Atlantic SuperConnection and related cable, connection and counterparty workstreams; progression of the GIGA-42 Icelandic data centres development; and advancing the Arctic Data Cable Network.

Thirdly, continued work on the proposed transformation of the listed parent into a focused financial-services and investment-platform business.

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The Proposal is framed as part of that broader delivery path. In summary, it contemplates the separation of the GIG infrastructure and development assets from the listed parent; including also the stake in GIGA-42.

The Board emphasises that the Proposal now under consideration remains non-binding, other than customary limited provisions in relation to confidentiality, conditional exclusivity, costs and governing law. The grant of conditional exclusivity should not be taken as a final recommendation by the Board. It is intended to facilitate an orderly mutual evaluation process. There can be no certainty that any transaction will proceed, nor as to the final terms, structure, timing, funding, regulatory treatment or required approvals of any such transaction, or whether any approach to shareholders will result in a change of control of the Company.

Given the associated-party contexts and the potential significance of these matters, the Board is following an appropriate governance process. The independent Chairman is overseeing that process and is adopting such sub-committee, adviser and review arrangements as are considered appropriate.

The Board and Offerors both emphasise that the Proposal and the grant of exclusivity should not pause or displace execution of the Group's underlying business plan. The Company and its management continue to advance upon key strategic assets, contracts and counterparties.

A further announcement will be made as and when appropriate in accordance with the Company's obligations under Market Abuse Regulations and the rules of Euronext Amsterdam and The International Stock Exchange.

PRESS AND INVESTOR INFORMATION

For more information, please contact:

Company enquiries to: James Culverhouse

Email: james@jamesculverhousecommunications.com

Registered office

First Floor, 10 Lefebvre Street

St Peter Port

Guernsey GY1 2PE