Receipt of funds under Settlement Agreement

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 is pleased to announce that, further to its announcement of 14 August 2024, it has received confirmation from its solicitors that monies amounting to £2 million have been received on the Company's behalf comprising the full amount of the sum agreed under the settlement agreement with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited.

With the receipt of the funds all matters under the settlement agreement are fully resolved and concluded.

As announced in the funding update of 23 May 2024, the Company will pay £500,000, being 25% of the settlement amount, to YA II PN Ltd and Riverfort Global Opportunities PCC Limited to reduce the balances outstanding under the existing secured Term Loan maturing on 23 May 2026. The Term Loan, with no fixed monthly payment or conversion rights, was designed to reduce the Group's then short-term liabilities and to enable the Company to focus on funding immediate and ongoing working capital obligations.

The balance of the settlement monies will be deployed for general working capital purposes and to accelerate the implementation of the Company's strategy.

Unless otherwise defined herein, all capitalised terms used in this announcement shall have the same meanings as ascribed to them in the Company's announcements of 23 May 2024.

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