Oversubscribed Retail Offer

Powerhouse Energy Group plc (AIM: PHE), a UK company pioneering integrated technology that converts non-recyclable waste into low carbon energy with its revenue generating engineering consulting subsidiary ("Engsolve"), announces that the Retail Offer announced on 23 April 2026 and which closed at 16:30 pm on 24 April 2026, was oversubscribed and raised the Company's target of £250,000, before expenses.

Accordingly, subject to the passing of Resolution 2 at the forthcoming General Meeting (12.00 pm on 14 May 2026), the Retail Offer will result in the issue of a total of 125 million Retail Offer Shares at the Issue Price of 0.2 pence per share. As a result, the Company has raised a total of £650,000 pursuant to the Placing and Retail Offer, conditional on the passing of Resolution 2 at the General Meeting.

As previously announced, completion of the Placing provided the Company with a cash runway, to undertake planned activities, until the end of the year. Completion of the Retail Offer now extends this well into Q1 2027.

Notice of General Meeting and posting of Circular

The Circular and Notice of General Meeting are available on the Company's website and are being posted to shareholders today.

Admission and Total Voting Rights and issue of Warrants

Assuming Resolution 2 is passed, application will be made to the London Stock Exchange for admission of the New Ordinary Shares, the Placing Shares and the Retail Offer Shares to trading on AIM. It is expected that Admission will become effective and dealings in the New Ordinary Shares, the Placing Shares and the Retail Offer Shares will commence on AIM at 8.00 a.m. on or around 18 May 2026 ("Admission").

The Placing Shares and Retail Offer Shares will be issued fully paid and will rank pari passu in all respects with the Company's other New Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 4,796,654,741, all with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

In connection with the Placing and Retail Offer, Turner Pope will be issued 32.5 million share purchase warrants, with an exercise price of 0.2 pence, and an expiry term of 3 years from Admission.

Paul Emmitt, Powerhouse CEO, commented:

"We are delighted with the take up that we have seen through the oversubscribed Retail Offer and would like to thank all those investors who took part for their conditional commitments. The Board believe that the Capital Reorganisation, to facilitate, inter alia, completion of the Placing and the Retail Offer to be in the best interests of the Company and recommend that investors vote in favour of the Resolutions to be proposed at the General Meeting, as the Board intend to do in respect of their aggregate beneficial holdings."

Unless otherwise defined, definitions contained in this Announcement have the same meaning as set out in the announcement made by the Company on 23 April 2026.