Active Energy Group (AEG.L) PrimaryBid.com Offer

Active Energy ( LON : AEG ), the London quoted international biomass based renewable energy and forestry management business , is pleased to announce, a conditional offer for subscription via PrimaryBid (the “PrimaryBidOffer”) of new ordinary shares of 0.01 p each in the Company (“New Ordinary Shares”) at an issue price of 1.0 pence per New Ordinary Share (the “Issue Price”),

Being a discount of 13.4 per cent to the closing mid-price on 29th January 2021. The Company is also conducting a placing of new Ordinary Shares at the Issue Price by way of an accelerated bookbuild process (the “Placing”) as announced at 16:30 on 1st February 2021, as well as a proposed restructuring of the £17.7 million of convertible loan notes previously issued by the Company (the “CLN Restructuring”) .

The PrimaryBid Offer and the Placing are conditional on, inter alia: (i) the passing of the resolutions at a general meeting to be convened by the Company; (ii) the completion of the CLN Restructuring; and (iii) the new Ordinary Shares to be issued pursuant to the PrimaryBid Offer and the Placing being admitted to trading on AIM (“Admission”). Admission is expected to be take place at 8.00 a.m. on 23 February 2021 . The PrimaryBid Offer will not be completed without the Placing also being completed.

The Company will use the funds raised for:

· the installation and commissioning of the CoalSwitchTM up to 5tph reference plant;

· accelerating detailed engineering and planning for the CoalSwitch ™ up to 50tph production plant;

· capital expenditure to enhance the existing infrastructure and operations at Lumberton;

· the payment of the coupon on CLNs in respect of the period from 1 October 2020 to 31 January 2021 and other costs associated with the CLN Restructuring; and

· providing the Company with general working capital to cover operations and other corporate costs.

PrimaryBid Offer

The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the PrimaryBid Offer by applying exclusively through the www.PrimaryBid.com platform and the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.

The PrimaryBid Offer, via the PrimaryBid.com platform, will be open to individual and institutional investors from 16:35 p.m. on 1 February 2021 to 20:00 p.m. on 1 February 2021 . The PrimaryBid Offer may close early if it is oversubscribed.

The Company, in consultation with PrimaryBid, reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the Offer without giving any reason for such rejection.

No commission is charged to investors on applications to participate in the PrimaryBid Offer made through PrimaryBid. It is vital to note that once an application for New Ordinary Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.

For further information on PrimaryBid.com or the procedure for applications under the PrimaryBid Offer, visit www.PrimaryBid.com or call PrimaryBid.com on +44 20 3026 4750.

The New Ordinary Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company’s existing Ordinary Shares.

Active Energy Group Plc

Michael Rowan (Chief Executive Officer)

Andrew Diamond (Chief Financial Officer)


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