Strategic Investments Further Update

On 3rd June 2026 the Company announced that the Investor had informed the Company that it had finalized the banking arrangements required to facilitate the investments.

Despite that assurance the funding has not been received. As a result of the continued delay the Company has undertaken various investigations into the proposed investments and it appears that the Investor may have been compromised and thereby faced delay due to structure and process.

In the interim an alternative investor has been identified who may be prepared to complete the investments and loans on materially the same terms as the original investor. The Company and its advisers are working to conclude definitive agreements and will make a further announcement in this regard when appropriate.

The Company is pleased to announce that is has secured approximately £1.7 million through a short-term bridge loan facility guaranteed by Danir AB ("Danir"), the Company's largest shareholder, to provide working capital for the Company, and keep momentum whilst it aims to complete the strategic investments. Further updates will be made in due course.

Cindrigo is a sustainable energy developer with a portfolio of projects that support Europe’s transition to a secure, affordable, and sustainable energy future. This includes an integrated biomass operation in Finland and three geothermal energy licences in Germany.

In Germany, Cindrigo is targeting the development of its current licence portfolio consisting of three geothermal licences in the Upper Rhine Valley (Eich, Worms and Weinheim licences), which cover approximately 125 km². Cindrigo holds an 85% interest alongside Zukunft Geowärme GmbH (ZGG), a German geothermal project developer, which holds the remaining 15%, The Company believes the Eich, Worms and Weinheim licences have the potential to support over 400 MW of district heating and electricity generation, together with lithium extraction potential from the geothermal brine.

In Finland, Cindrigo's biomass operations include planned downstream heat generation and upstream biomass production via the joint development of an integrated sustainable wood pellet business, known as Fuelwood. Fuelwood has the potential to become one of Europe's largest sustainable wood pellet production facilities; the group is targeting an initial production capacity of approximately 80,000 tonnes of wood pellets per annum and a long-term target of approximately 400,000 tonnes per annum.

Alongside this, Cindrigo maintains an active development strategy with several energy projects and licences under evaluation.

The Company has a clear vision to create shareholder value by delivering secure, sustainable, affordable energy solutions that address three global priorities: meeting rising energy demand while delivering energy security and improving environmental outcomes.