Directorate Change

Board Changes

Prospex Energy plc (AIM: PXEN), the AIM-quoted investing company focused on European gas and power projects, is pleased to announce the appointment of Mr Simon Ashby-Rudd as a non-executive director effective immediately. In addition, Mr Andrew Hay, non-executive director, has informed the board that he will not be standing for re-election at the Company's Annual General Meeting, expected to be held in June 2026.

Mr Ashby-Rudd is an energy banking professional with over 35 years' experience providing strategic and financial advice to the energy sector. He has senior investment banking experience leading deals across equity capital markets, public and private debt, and corporate and asset acquisitions and divestments in Europe, North America, and Africa. He is an experienced corporate director, currently serving as a non-executive director of AIM-listed Europa Oil & Gas Plc. and as the Independent Chair of other closely held companies.

Bill Smith, Non-Executive Chair of Prospex, commented:

"We are delighted that Simon has agreed to join the Board of Prospex. This is another step in the Board's ongoing strategic refocus on net value impact and non-dilutive shareholder value creation, which started with the appointment of Tom Reynolds as CEO.

"Simon brings a wealth of experience in capital markets, with a focus on the European energy sector. I have no doubt that Prospex will benefit from his proven track record of driving growth through acquisitions and sales, as well as his established network across institutions, family offices, industry participants, and high-net-worth investors, which will support access to the capital needed to strengthen the Company's asset portfolio. Simon will stand for election as a director at the upcoming Annual General Meeting of Shareholders.

"Andrew, who has ably served the Company as a non-executive director since 2023, will not be standing for re-election at the Company's AGM. Andrew's contributions, insights and guidance, including his service as Chair of the Audit Committee, have been significant. I would like to take this opportunity to wish Andrew the best for his future endeavours."

Additional Information

Mr Simon Ashby-Rudd, aged 58, is currently a director/partner, or is a director/partner in the past five years of the companies listed below:

Europa Oil & Gas (Holdings) plc

Treyford Energy Ltd

Mr Ashby-Rudd has no direct or indirect interest in the Company's issued share capital.

There is no further information to be disclosed pursuant to AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules in respect of the appointments of the directors.

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