UAE Operation Update Early Energisation at Ghummud

The Ghummud site is now fully energised ahead of schedule, with deployment of modular digital infrastructure already underway. Based on current progress, the site is expected to be operational materially ahead of the previously indicated 10-12 week timeline.

This milestone further validates the Company's strategy of acquiring existing grid connections as a faster, more capital-efficient route to revenue generation. Rapid energisation and deployment significantly compress timelines, reduce execution risk, and provide a clear pathway toward the targeted 100MW rollout.

Building on this momentum, the Company expects to complete the previously announced (17 March 2026) Kazna transaction by the end of April. Given the advanced preparatory work already undertaken, energisation is anticipated to follow on an accelerated basis.

Together, the Ghummud and Kazna sites will provide approximately 5.5 megavolt-ampere ("MVA") of available capacity, establishing a meaningful initial operating base for the Company. Based on current deployment assumptions and at steady state, Ghummud and Kazna are expected to contribute approximately US$2.6 million in annual revenue and approximately US$1.2 million in annual free cash flow, forming an important part of the Company's near-term cash flow profile. These estimates are subject to prevailing market conditions, asset utilisation and operating performance.

Importantly, this provides a clear and scalable unit economic model for investors - demonstrating how each incremental MVA deployed can translate into predictable revenue and cash flow. As the Company executes on its growth strategy, scaling from 5.5MVA to 15MVA and ultimately toward its 100 megawatts ("MW") target, the compounding impact of these economics becomes increasingly material, underpinning both near-term cash generation and long-term value creation.

The Company continues to see a compelling window of opportunity to scale through the acquisition of high-quality and ultra-low cost power grid connections, avoiding the delays and uncertainties associated with new-build developments, including permitting and utility approvals.

In line with this strategy, Active Energy has identified two additional grid connection opportunities and has commenced initial due diligence and commercial negotiations.

Paul Elliott, CEO of Active Energy Group plc, commented:

"Early energisation at Ghummud is a clear proof point of our strategy in action. By focusing on acquiring ready-to-deploy grid connections, we are materially reducing time to revenue and capital intensity, while accelerating our path to scale. With Kazna progressing and further opportunities already under review, we are building strong momentum towards our 100MW target and establishing a scalable and ultra-low cost power digital infrastructure platform across the region."