Shares for Fees, Warrants, Options and PDMR

Ascent Resources Plc (LON: AST) announces that, further to the announcement on 22 May 2025, and in order to make cost savings to the Company's G&A and to further align the long term interests of Directors and executives with shareholders, shares shall be issued to directors and executives in lieu of 30% to 40% of their salaries / fees due for the six month period from 1 June 2025 and other contractual amounts owed.

Issue of Shares

An aggregate of 15,770,217 new Ordinary shares shall be issued to directors and executives at a price of 0.5p per new Ordinary share ("Issue Price") issued (the "New Shares"), amounting to a total net cost saving of £78,851.09. The Issue Price being that of the May 2025 Placing Price with warrants attached on the same terms as the May 2025 investors. The allotment of the New Shares is dependent on the Company being granted the required share authorities by shareholders at the Company's Annual General Meeting on 27 June 2025.

Of the 15,770,217 New Shares to be issued the directors / PDMR's will be issued shares as follows:

Andrew Dennan, Chief Executive Officer - 12,214,474 New Shares

David Bullion, Non-Executive Director - 678,183 New Shares

Edouard Etienvre, Independent Non-Executive Director - 630,098 New Shares

A further announcement will be made to the Market at the time the shares are allotted and admitted to trading on AIM.

Award Of Options

Following the General Meeting of the Company on 20 February 2025, in respect of the entitlement to shareholders to receive a distribution of a further 41% of any net proceeds received after deducting costs in respect of the Energy Charter Treaty claim against the Republic of Slovenia, shareholder approval was granted in respect of the award of 3,285,894 new options to be made to certain employees in equal proportion to the options they currently held. The options have an exercise price of 0.005 pence, being the nominal value of the A2 Preference Shares. The option holders will receive one A2 Preference share for every new option exercised. The new options will expire two weeks after the outcome of the dispute becomes known, including the definition of the quantum of the award if there is an award. Of the award of the 3,285,894 new options Mr Dennan had been awarded 2,885,894 new Options.

The issue of shares and award of options will constitute a related party transaction pursuant to AIM Rule 13 of the AIM Rule for Companies. Jean-Michel Doublet, Interim Chairman, considers, having consulted with the Company's Nominated Adviser, Zeus Capital Limited, that the terms of issue of shares and award of options are fair and reasonable insofar as the shareholders of the Company are concerned.

The notification below, made in accordance with the requirements of the Market Abuse regulations, provides further details.