Award under the Company’s Long-Term Incentive Plan

CPH2, the UK-based green hydrogen technology and manufacturing company that has developed the IP-protected Membrane-Free Electrolyser ("MFE"), announces an award under the Company's long-term incentive plan (the "LTIP") to Chief Commercial Officer ("CCO"), Richard Scott, following his appointment and in line with the Company's LTIP structure.

The Company has awarded options in respect of a total of 1,000,000 Ordinary Shares of 1p each ("Ordinary Shares") under the Company's EMI Share Option Scheme and Unapproved Options Scheme (the "Options") which are designed to incentivise members of the Company's management.

Subject to the achievement of certain performance criteria, the Options will vest on 31 January 2028. All Options will expire ten years from the date of grant. The LTIP is structured whereby 750,000 Options ("Threshold Options") are awarded subject to total shareholder return performance conditions and the remaining 250,000 Options are awarded conditional upon continued employment to the scheduled vesting date. The exercise price is £0.01 per share.

The performance conditions of the Threshold Options are dependent on the average closing share price in the 30 days prior to scheduled vesting date (the "Relevant Period") and the continued employment of Mr Scott as at that date. The calculation of the number of Threshold Options which will vest as follows:

• If the average share price during the Relevant Period is below 10p, no Threshold Options will vest.
• If the average share price during the Relevant Period is equal to 10p, 10% of the Threshold Options will vest.
• If the average share price during the Relevant Period is between 10p and 20p, the number of Threshold Options which vest will be pro-rata between 10% and 100% of the total Threshold Options; and
• If the average share price is 20p or more during the Relevant Period, 100% of the Threshold Options will vest.

Following these option grants, the Company has 25,210,899 shares under option. This represents, following the increase in Options mentioned below, 5.02% of the issued share capital of the Company.

The information in this announcement is disclosed in accordance with Article 19 of the EU Market Abuse Regulation.

CPH2 is the holding company of Clean Power Hydrogen Group Limited which has almost a decade of dedicated research and product development experience. This has resulted in the delivery of proven and patented disruptive hydrogen technology. Customers benefit from simple, safe and sustainable technology shown to deliver a modular solution to their hydrogen requirements in a cost-effective, scalable, reliable and long-lasting manner. The Group's strategic objective is to deliver the lowest LCOH in the market in relation to the production of green hydrogen at this scale. CPH2 is listed on the AIM market and trades under the ticker LON:CPH2.