We are entering an important period for the Company as we move from development into commercial execution. As we take this step, it becomes increasingly important that our identity reflects the business we are becoming.

Against this backdrop, the Board proposes a change to the Company’s name - one that better represents our purpose, our technology, and the direction in which we are heading. At the Annual General Meeting on 16 April 2026, shareholders will be asked to consider and vote on a resolution to change the Company’s name to H-Power plc.

This proposal marks a meaningful step in our evolution. Over the past year, we have reshaped our strategy, strengthened our leadership, and focused our efforts on delivering hydrogen powered energy solutions that can be deployed reliably and at scale.

The name H-Power has been chosen because it captures clearly what we do: creating, using, and converting hydrogen into power. It is purposeful, modern, and aligned with the markets we intend to serve as we enter this next phase.

The proposed name reflects the business we are building and the value we aim to create for customers, partners, and shareholders. The change will only take effect if approved by shareholders and once the new name has been formally registered with Companies House. If approved, the legal entity will remain the same, all existing contracts will continue unchanged, and shareholders will not need to take any action. Our listing on AIM will continue, and our shares will automatically trade under the new name once the change becomes effective.

I would like to thank our investors, colleagues, and stakeholders for your continued support. We look forward to discussing this proposal further at the AGM and to updating the market on the outcome in
due course.

For more details, please visit our FAQs at www.afcenergy.com/Name-Change-FAQs, or contact us directly.

John Wilson
CEO, AFC Energy plc