UAE Project Development Update, Pipeline Expansion

Active Energy (AIM: AEG - OTCID: AEUSF), the renewable energy and digital infrastructure company, provides an update on the development of its United Arab Emirates ("UAE") infrastructure programme, ongoing regional pipeline expansion discussions, and announces a board change.

UAE Project Development Update

Further to the Company's previous announcement on 13 January 2026 in relation to the development programme in the UAE, Active Energy confirms that progress continues at its first 8MW UAE energy and digital infrastructure facility, which forms part of the Company's strategy to establish scalable hosting capacity in key Gulf Cooperation Council energy markets.

During the final stages of development, the project timeline has been modestly adjusted to accommodate certain development permitting processes and the Ramadan period, together with regional logistical considerations arising from the recent Middle East crisis. These factors have resulted in a minor extension to the commissioning schedule but have not impacted the underlying development progress or strategic importance of the project.

The Company has now received formal confirmation from its project management team that handover of the completed site infrastructure, ahead of energisation, is expected by the end April 2026.

Completion of the site will represent an important milestone as Active Energy enters the next phase of deploying scalable energy capacity to support high-performance compute and digital infrastructure hosting clients. Based on current deployment assumptions, the site is projected to generate approximately US$3,500,000 million in annual revenues, at an estimated c.50% gross margin, equating to approximately US$1,750,000 million of annual gross profit once fully operational.

UAE Expansion Pipeline

Alongside development of the Company's initial UAE site, Active Energy is actively evaluating additional opportunities within the region as part of its strategy to build a broader infrastructure platform.

The Company is currently engaged in discussions regarding several potential additional locations, which could significantly expand its UAE energy and infrastructure pipeline over time.

The Board believes the UAE represents a strategically important market for competitively priced energy and digital infrastructure, and the Company continues to assess opportunities to establish a portfolio of energy-connected sites capable of supporting institutional hosting partners and high-performance computing applications.

Board Change

The Company also announces that James Voce has resigned from the Board of Active Energy with immediate effect to pursue other business interests.

Following Mr Voce's departure, the Board comprises the Chief Executive Officer and the Non‑Executive Chairman. The Company has commenced a process to appoint an additional non-executive director. A further announcement will be made in due course.

Settlement of Professional Fees in Shares

In addition, application will be made to the London Stock Exchange for the admission of a total of 77,586,207 ordinary shares of £0.00035 each ("Ordinary Shares"), at a price of 0.0928 pence reflecting the trailing 10-day average VWAP at close on 5 March 2026, issued to certain advisers and service providers in settlement of fees for services provided ("Admission"). The Directors believe settling these liabilities in equity represents a prudent use of capital, preserving cash as the Company continues to execute its development strategy.

It is expected that Admission will become effective on or around 13 March 2026. Following Admission, the Company's issued share capital will consist of 3,918,923,304 Ordinary Shares which may be used by shareholders as the denominator for the calculations by which to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Paul Elliott, Chief Executive Officer of Active Energy, commented:

"We are pleased to be entering the final stages of development on our first UAE site, with infrastructure handover now scheduled ahead of energisation in April. Establishing operational capacity in the region is an important step in the execution of our international infrastructure strategy.

Alongside this project we continue to progress discussions around additional locations within the UAE as we look to build a scalable regional platform capable of supporting growing demand for high-performance compute and digital infrastructure hosting.

Finally, I would like to thank James for his contribution to Active Energy and wish him every success in his future ventures."