WRAP Retail Offer for up to £150,000

Block Energy plc, the production and development company focused on Georgia, is pleased to announce a retail offer via the Winterflood Retail Access Platform ("WRAP") to raise up to £150,000 (the "WRAP Retail Offer") through the issue of new ordinary shares of £0.0025 each in the capital of the Company ("Ordinary Shares"). Under the WRAP Retail Offer up to 13,636,363 new Ordinary Shares (the "Retail Offer Shares") will be made available at a price of 1.1 pence per share ("Issue Price").

In addition to the WRAP Retail Offer and as announced earlier today, the Company is also proposing a placing of ("Placing") new Ordinary Shares (the "Placing Shares"), and together with the Retail Offer Shares, the "Fundraise Shares") to raise approximately $6.3 million (c£4.65 million) (before expenses) through a bookbuild process (the "Bookbuild") at the Issue Price. The Issue Price represents a discount of approximately 8.3 per cent. to the mid-market closing price of an Ordinary Share on 24 April 2026 (being the latest practicable date prior to this announcement). The Issue Price of the Retail Offer Shares is the same as for the Placing Shares.

A separate announcement has been made regarding the Placing and its terms and sets out the reasons for the Placing and use of proceeds. The proceeds of the WRAP Retail Offer will be utilised in the same way as the proceeds of the Placing. The Company retains the right to increase the size of the WRAP in the event of significant demand.

The Fundraise will complete in two tranches:

• It is anticipated that 77,314,724 Fundraise Shares ("Firm Fundraise Shares") will be issued in connection with the Placing only (and not the WRAP Retail Offer) pursuant to existing authorities; and
• The remainder of the Placing Shares, together with all of the Retail Offer Shares ("Conditional Fundraise Shares") will be issued subject, inter alia, to the passing of shareholder resolutions 1 and 3 ("Fundraise Resolutions") to be proposed at a general meeting of the Company which is expected to be held on 18 May 2026 at the Company's registered office ("General Meeting").

Application will be made for the Fundraise Shares to be admitted to trading on AIM ("Admission"). Admission of the Firm Fundraise Shares ("First Admission") is expected on or around 1 May 2026 and Admission of the Conditional Fundraise Shares, including the Retail Offer Shares ("Second Admission"), is expected on or around 19 May 2026 (provided the Fundraise Resolutions are passed at the General Meeting).

WRAP Retail Offer

Therefore, the Company is making the WRAP Retail Offer available to eligible investors in the United Kingdom following release of this announcement, being existing shareholders of Block Energy Plc, and through certain financial intermediaries.

The WRAP Retail Offer is expected to close at 8.00 p.m. on 27 April 2026. Eligible shareholders should note that financial intermediaries may have earlier closing times.

There is a minimum subscription of £100 per investor under the WRAP Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.

The Company's LEI is 213800E2J8QA1J6KN415.

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