Director/PDMR Shareholding
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ITM Power plc (the "Company") announces that on 20 October 2026 awards over ordinary shares of £0.05 each in the capital of the Company were granted to certain employees under the ITM Power plc Deferred Annual Bonus Plan ("DBP").
No consideration is payable for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.05 per ordinary share. The number of ordinary shares granted under the award has been calculated using a share price of 86 pence, being the closing middle market quotation as derived from the daily official list on 20 October 2026.
The awards are subject to a two-year vesting period. As this award was derived from a portion of the participants' 2026 annual bonus entitlement, where certain performance conditions have been met, these awards are not conditional on the achievement of further performance conditions, other than the participant being a director or employee within the Company's group at the time of vesting.
The DBP awards granted to Executive Directors (who are Persons Discharging Managerial Responsibilities) are as follows:
| Name of Director/PDMR | Number of Shares over which the DBP Award is granted |
|---|---|
| Dennis Schulz, CEO | 141,352 |
| Amy Grey, CFO | 78,271 |
| Simon Bourne, CTO | 80,015 |
The Company also announces the vesting of an aggregate of 823,529 historically awarded share options to the PDMRs below in relation to the DBP and CEO discretionary award under the Company's Long Term Incentive Plan ("LTIP"):
| Name of Director/PDMR | Incentive plan | Number of vested options | Exercise Expiry |
|---|---|---|---|
| Dennis Schulz, CEO | DBP | 239,183 | 27 August 2034 |
| LTIP | 433,333 | 15 April 2036 | |
| Simon Bourne, CTO | DBP | 151,013 | 27 August 2034 |
The terms of the LTIP were previously announced by the Company on 17 April 2026. The vesting represents the first tranche of three, with the associated performance conditions having been achieved in full for this tranche.
The vested options for both the DBP and LTIP may be exercised at an option exercise price of £0.05 per ordinary share at any time prior to the exercise expiry date.
| a) | Name | ITM Power plc |
| b) | LEI | 21380042MB2JKZ6RRP12 |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares of 5p each |
| Identification code | ISIN: GB00B0130H42 | |
| b) | Nature of the transaction | Issue of Options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nominal cost option | 141,352 | |
| d) | Aggregated information | |
| - Aggregated volume | 141,352 | |
| - Price | NA | |
| e) | Date of the transaction | 20 October 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Simon Bourne |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Technology Officer |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | ITM Power plc |
| b) | LEI | 21380042MB2JKZ6RRP12 |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares of 5p each |
| Identification code | ISIN: GB00B0130H42 | |
| b) | Nature of the transaction | Issue of Options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nominal cost option | 80,015 | |
| d) | Aggregated information | |
| - Aggregated volume | 80,015 | |
| - Price | NA | |
| e) | Date of the transaction | 20 October 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Amy Grey |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | ITM Power PLC |
| b) | LEI | 21380042MB2JKZ6RRP12 |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares of 5p each |
| Identification code | ISIN: GB00B0130H42 | |
| b) | Nature of the transaction | Issue of Options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nominal cost option | 78,271 | |
| d) | Aggregated information | |
| - Aggregated volume | 78,271 | |
| - Price | NA | |
| e) | Date of the transaction | 20 October 2026 |
| f) | Place of the transaction | Outside a trading venue |
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