AGM Resolution Vote Update and Change of Broker

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, provides an update on recent shareholder engagement following the Company's last Annual General Meeting on 23 April 2025 (the "AGM").

At the AGM, Resolution 8, relating to the Company's 2024 remuneration report, was passed with a majority, with 77.09% of proxy votes in favour. The Company recognised that although the resolution was passed, a significant minority of shareholders voted against this resolution.

In accordance with the QCA Corporate Governance Code 2023, the Company engaged further with our largest shareholders in order to better understand the reasons behind the result. Having considered carefully the feedback received, the Board maintains the view that the Remuneration Report approved at the AGM is in the best interests of value creation for all shareholders. The Board is grateful to shareholders for their engagement and feedback.

Change of Broker

AFC Energy also announces that further to a review of the Company's advisory relationships, and with immediate effect, RBC Europe Limited will no longer act as the Company's Joint Broker. Zeus will continue to act as Company's Joint Broker alongside Peel Hunt, who will continue to act as the Company's Nominated Adviser and Joint Broker.