WRAP Retail Offer for up to £100,000

Coro Energy plc ("Coro" or the "Company") is pleased to announce a retail offer via the Winterflood Retail Access Platform ("WRAP") to raise up to £100,000 (the "WRAP Retail Offer") through the issue of new ordinary shares of 0.5p each in the capital of the Company, being the ordinary shares of the Company that will be in existence following the share capital re-organisation referred to in the Company's announcement of 9 January 2025 ("New Ordinary Shares"). Under the WRAP Retail Offer up to 6,666,667 New Ordinary Shares (the "WRAP Retail Offer Shares") will be made available at a price of 1.5 pence per New Ordinary Share.

In addition to the WRAP Retail Offer and as announced on 9 January 2025, the Company is also proposing to raise funds through a subscription of New Ordinary Shares (the "Subscription Shares" to raise approximately £1.9 million (before expenses) at a price of 1.5 pence per Subscription Share (the "Issue Price"). The WRAP Retail Offer Shares are also being offered at the Issue Price.

A separate announcement regarding the Subscription was made by the Company on 9 January 2025 regarding its terms and sets out the reasons for the Subscription and use of proceeds. The proceeds of the WRAP Retail Offer will be utilised in the same way as the proceeds of the Subscription.

The WRAP Retail Offer is conditional, inter alia, on the shareholder resolution being passed at the General Meeting and the Subscription Shares and the WRAP Retail Offer Shares being admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective and that dealings in the Subscription Shares and the WRAP Retail Offer Shares will commence before the end of February and at any rate after the General Meeting which will occur on or about 26 February 2025. A circular convening the General Meeting is expected to be posted on or before 24 January 2025. It is expected Admission will occur before the end of February.

WRAP Retail Offer

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

The WRAP Retail Offer is expected to close at 4.30pm on 24 January 2025. 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 WRAP Retail Offer Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the New Ordinary Shares (that will be in existence following the share capital re-organisation referred to in the Company's announcement of 9 January 2025) including the right to receive all dividends and other distributions declared, made or paid after their date of issue.

It is a term of the WRAP Retail Offer that the total value of the WRAP Retail Offer Shares available for subscription at the Issue Price does not exceed £100,000, or such size as agreed by the Company.

The Company's LEI is 2138004JXMD9YXLMKS49.