PrimaryBid Offer

This Announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of Beacon Energy plc or other evaluation of any securities of Beacon Energy plc or any other entity and should not be considered as a recommendation that any investor should purchase any such securities.

596/2014) AS IT FORMS PART OF UKLAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED BY VIRTUE OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 ("UK MAR").

THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021).

Beacon Energy plc

("Beacon Energy" or the "Company")

PrimaryBid Offer

• Beacon Energy announces a conditional offer for subscription of new Ordinary Shares via PrimaryBid;
• The Issue Price for the new Ordinary Shares to be issued pursuant to the Placing and the PrimaryBid Offer is 0.05 pence per new Ordinary Share, representing a discount of approximately 28 per cent. to the closing middle market price of 0.07 pence per existing Ordinary Share on 27 February 2024, being the latest practicable date prior to the date and time of this Announcement;
• The PrimaryBid Offer is available to both existing shareholders and new investors;
• There is a minimum subscription of £500 per investor in the PrimaryBid Offer;
• No commission will be charged by PrimaryBid on applications to the PrimaryBid Offer.

PrimaryBid Offer

Beacon Energy plc (AIM:BCE), the full-cycle oil and gas company with a portfolio of production, development, appraisal and exploration onshore German assets through its wholly-owned subsidiary, Rhein Petroleum GmbH, is pleased to announce, a conditional offer for subscription of new ordinary shares of no par value each in the capital of the Company ("Ordinary Shares") via PrimaryBid (the "PrimaryBid Offer") at an issue price of 0.05 pence per new Ordinary Share (the "Issue Price"), representing a discount of approximately 28 per cent. to the closing middle market price of 0.07 pence per existing Ordinary Share on 27 February 2024, being the latest practicable date prior to the date and time of this Announcement. The Company is also conducting a placing of new Ordinary Shares at the Issue Price by way of an accelerated bookbuilding process (the "Placing") as announced earlier today.

The PrimaryBid Offer is conditional on 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 take place at 8.00 a.m. (London time) on 5 March 2024. The PrimaryBid Offer will not be completed without the Placing also being completed.

The gross proceeds of the Placing and the PrimaryBid Offer, combined with the Company's existing unrestricted cash, will be used as follows:

• Drilling and completion of the side track €2.1m
• Payment of outstanding costs due before end April 2024 related to the SCHB-2(2.) well €1.1m
• General working capital and to cover the expenses of the Fundraise €1.0m

Reason for the PrimaryBid Offer

While the Placing has been structured as a non-pre-emptive offer within the Company's existing authorities from shareholders for non-pre-emptive offers so as to minimise cost and time to completion, the Company values its retail investor base and is therefore pleased to provide retail investors with the opportunity to participate in the PrimaryBid Offer.

Existing shareholders and new investors can access the PrimaryBid Offer through PrimaryBid's extensive partner network of investment platforms, retail brokers and wealth managers, subject to such partners' participation.

The PrimaryBid Offer will open to investors resident and physically located in the United Kingdom following the release of this Announcement. The PrimaryBid Offer is expected to close at the same time as the Placing, and may close early if it is oversubscribed.

There is a minimum subscription amount of £500 per investor in the PrimaryBid Offer.

Investors wishing to apply for new Ordinary Shares should contact their investment platform, retail broker or wealth manager for details of their terms and conditions, process (including for using their ISA, SIPP) and any relevant fees or charges.