Update on Initial Subscription

Further to its announcements of 13 February 2024 and 22 February 2024, EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation, notifies that due to an ongoing administrative delay in routing funds through Verde Corporation, the newly formed entity for the purpose of the transaction, the Company and Verde Corporation have agreed a further amendment to the Subscription Letter to allow for the proceeds of the Initial Subscription to be received by the Company on or prior to 8 March 2024 and Admission to be on or around 15 March 2024 (or such later time as the Company may determine, being not later than 20 March 2024). Verde Group have provided to the Company confirmation of the £0.5 million Initial Subscription funds being transferred into the newly formed entity's account, for subsequent transfer to the Company in line with the above timetable. Accordingly, Admission of the Initial Subscription Shares, and the Conversion Shares, will be delayed.

A further update announcement will be made in due course.

Further information on the Company can be found at www.eqtec.com.