Corporate and Funding Update

EQTEC plc (AIM:EQT), a provider of syngas technology and engineering services for clean conversion of waste into sustainable energy and biofuels, announces the following update.

Funding and Debt Update

As previously disclosed, and in line with broader market conditions impacting technology providers within the clean energy sector, the Company continues to face challenging trading and funding environments. As at the date of this announcement, the Company has total corporate debt of approximately £6.1 million, comprising: (i) a £5.1 million bullet loan due for repayment on 30 December 2027; (ii) a £0.7 million convertible loan now due for repayment; and (iii) a remaining balance of £0.25 million under the convertible loan facility announced on 24 October 2025 ("CLF"). The Board cautions that the Company needs to secure additional funding to meet its short-term working capital obligations. The Company has drawdown an additional £60,000 from the CLF while continuing to explore strategic funding options and will update shareholders as appropriate.

As previously announced on 6 October 2025, Mr. Didier Casimiro became the ultimate beneficial owner ("UBO") of Rebel Ion Limited (previously Compact WTL Tech Limited) ("Rebel Ion") and therefore became indirectly interested in a significant shareholding in EQTEC. A core strategic priority for the Company is the progressive de-leveraging of its capital structure. In line with this priority, the Company, together with Mr. Casimiro and its existing lenders, have been engaged in ongoing discussions. The Company has reached a preliminary, conditional and non-binding agreement with Rebel Ion and the lenders that, subject to a simultaneous successful equity raise, Rebel Ion will acquire both the £5.1 million bullet loan and the £0.7 million convertible loan from the existing lenders and that, upon completion of the novation of the debt from the existing lenders, Rebel Ion will fully convert the £0.7M convertible loan into equity, agree not to dispose of the resulting equity for a period of 12 months and extend the maturity of the £5.1M bullet loan to December 2030. Rebel Ion has indicated that it would be willing, subject to regulatory and feasibility considerations, to make a portion of its debt purchase available to new equity subscribers, proportional to their equity contribution. In the event that the Company and Rebel Ion are able to conclude the arrangements as broadly set out above to the satisfaction of the Board, and subject to the Company securing sufficient additional funding and securing a favourable independent related party opinion, it is expected that the Company would agree to cancel the Option Agreement entered into by the Company with Rebel Ion on 1 June 2025.

The existing lenders, Rebel Ion and the Company are currently preparing the relevant transaction documentation, and the Company cautions that there can be no certainty that the proposed funding package will be concluded.

To facilitate the finalisation of the documentation, the Company has obtained a standstill until 31 December 2025 with the existing lenders of the £0.7M convertible loan.

Further announcements will be made as appropriate.

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