Statement regarding Robert Bosch GmbH

Horsham, UK: Ceres Power Holdings plc (CWR.L) notes the media statement by Robert Bosch GmbH ("Bosch") earlier today regarding a realignment of its operations and investments in stationary fuel cell power technologies. The result of this is that Bosch will discontinue its operations relating to the industrialisation and preparation for production of decentralised power-supply systems based on solid oxide fuel cells.

As a result of this broader revised strategic decision at the group level, Bosch has informed Ceres that it will seek to end its partnership with Ceres in an orderly way, while continuing to meet its contractual obligations.

Furthermore, as a result of this broader revised strategic decision at the group level, Bosch has informed Ceres that it intends to divest its minority holding of 17.44 per cent in an orderly manner. Uwe Glock, the Bosch representative Non-executive Director on the Ceres Board, is stepping down with immediate effect.

The impact of Bosch's decision does not change Ceres' consensus expectations for the year ending 31st December 2025.

Phil Caldwell, CEO commented, "Whilst Ceres is disappointed that Bosch will discontinue its operations relating to the industrialisation and preparation for production of decentralised power-supply systems using Ceres' solid oxide technology, we recognise that this decision is part of a broader revised strategic direction from Bosch and does not reflect its confidence around Ceres or our technology.

Over the last 12 months Ceres has expanded its ecosystem of global manufacturing partners, as the business continues to license its best-in-class technology. This is underpinned by our strong financial performance, and we remain well positioned for the future."