Update on Verde Corporation Subscription

Further to its announcement of 2 April 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 the Company and Verde Corporation have agreed an amendment to the Subscription Letter to allow for the proceeds of the Subscription to be received by the Company on or prior to 16 May 2024.

The agreement for conversion of debt into equity by significant shareholders Pitcole Limited and Altair Group Investment Limited, along with the undertaking by YA-RF Lenders not to convert the remaining £600,000 syndicated facility, until after 30 June 2024, remains in place as previously announced.

While the Company has remained in contact with Verde throughout this process, the Directors remind shareholders that until the Subscription funds have been received by the Company, Admission will not take place and the Subscription will not complete. A further update announcement will be made in due course, including confirmation of the admission date of the First Tranche Shares and the Conversion Shares.

The Company's £3.00 million syndicated funding facility, announced on 20 November 2023, remains in place, with a current drawn amount of £950,000 with £2.05 million left undrawn.

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