AI Datacentre Power Supply JV

(Registration Number: 12886458)

Share code on the LSE: MAST

('MED' or 'the Company')

Dated: 6 August 2025

Mast Energy Developments PLC

("MED" or the "Company")

Artificial Intelligence ("AI") Datacentre Power Supply Joint Venture

Mast Energy Developments PLC is pleased to announce that it has signed a heads of terms for an exclusive joint venture to develop, construct, and operate AI datacentre power supply solutions, the highlights and details of which are outlined below.

Joint Venture Key Details:

• UK Government is committed to scaling the UK's public sector AI computing capacity by at least 20x by 2030;
• AI datacentre electricity demand expected to reach c. 8 GW by 2030, up from c. 2.5 GW in 2024;
• Designated regions ("Growth Zones") will receive streamlined planning approvals, with the first zone already confirmed with plans to develop up to 500 MW of power supply to support AI datacentres in that one zone alone;
• MED signed exclusive joint venture ("JV") heads of terms with C-Zero Markets Ltd ("CZM"), a UK company with strong connections and a proven track-record in the energy industry in the UK and EU (see below for more details about CZM);
• Under the JV, MED and CZM will exclusively work together to identify, develop, construct, and operate AI datacentre power supply solutions and applications;
• JV will establish MED as an early mover and power supplier in the rapidly growing AI datacentre industry, to gain maximum benefit;
• The short-term goal is to develop c. 50 MW of AI datacentre power supply projects, and scale to 150+ MW in medium term;
• MED is already in discussions regarding an AI datacentre development with a 25 MW power supply need;
• The JV will also look to attract AI datacentre developers to co-locate next to MED's existing and future sites to benefit from economies of scale;
• This new strategy will complement and is expected to significantly grow MED's existing flexgen portfolio and the Company's goal to build a portfolio of 300+ MW; and
• MED and CZM intend to enter in a binding definitive JV agreement shortly.

Pieter Krügel, MED CEO, commented: "MED have identified the rapidly growing AI datacentre industry and the associated increased need for power as an ideal opportunity to expand MED's business model and complement our ultimate strategy to build a portfolio of 300+ MW. We are thrilled to join forces with C-Zero Markets in rolling out our new strategy, as they are an ideal JV partner with their strong connections and a proven track-record in the energy industry in the UK and EU.

We are planning to progress this new strategy at some pace, and look forward to updating the market with positive developments over the coming weeks."

About C-Zero Markets:

C-Zero Markets were co-founded by Bruce Brown and Mike Ridler, each bringing over 20 years of relevant experience to the business. CZM are experts in the decarbonisation space, working end-to-end, from helping generators gain the most from their renewable energy assets to assisting corporations in meeting their sustainability goals. With established access to renewable commodity markets in the UK and Europe, CZM are excellently positioned to deal with a range of environmental commodities, doing their part to help funds flow into technologies that will be key to a carbon-zero world. For more details, visit CZM's website here - https://c-zeromarkets.com.

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