FlexGen Project Financial Close and Construction

(Registration Number: 12886458)

Share code on the LSE: QDE

Dated: 9 March 2026

Quantum Data Energy PLC

("Quantum", "QDE" or the "Company")

QDE Third FlexGen Project Successfully Completes Financial Close and Starts Construction

London, UK - Quantum Data Energy PLC (LSE: QDE) is pleased to announce, further to its RNS announcements dated 9 February 2026 and 19 February 2026 respectively, that it has successfully completed financial close of its third flexible generation power project, and construction has commenced at pace. Further details and key highlights are outlined below.

Following the construction of QDE's third flexgen project, it will have c. 20 MW in production, and a further near-term pipeline of development projects to be constructed of c. 28 MW, totaling c. 48 MW (read more here).

Key Highlights:

• QDE has signed a binding definitive investment agreement (the "Investment Agreement") with Power Balancing Services Ltd ("PBS") regarding its Bordesley 5 MW flexible generartion power project, at project SPV level;
• Under the Investment Agreement, PBS will invest up to £1.75m and QDE will invest up to £1m;
• The remaining balance of the required capex for the project will be funded with an external debt facility from a commercial bank at competitive market related terms;
• Resultingly, the project is fully funded and construction has commenced at pace;
• PBS will receive an equity interest in the project of 65% in exchange for their investment, and QDE will receive a 35% equity interest;
• QDE's required capital contribution to the project has already been funded via its acceleration capital fundraise as recently announced; and
• Asset construction expected to be completed with commercial operations and income generation commencing during Q4 2026.

Transaction Rationale:

The rationale of partnering with PBS to co-fund the project's capex is mainly because QDE currently owns 100% of the shovel-ready project, which does not generate any income yet. In order for the project to go into commercial production and generate income, it requires construction and associated capex funding. The capex funding for a typical new-build 5 MW flexible generation project is around £3.5m. In order to limit dilution for QDE's existing shareholders, the Company chooses to apply capital discipline and efficiency and to partner with an experienced and reputable investor such as PBS to co-fund the capex of its development projects. The end result is that QDE will own a significant equity stake in an asset that is generating income, increase QDE's portfolio of MWs in production, increase QDE's revenues, with limited capital investment required from QDE.

Pyebridge Capacity Market Contract Update:

Further to the Company's RNS announcement dated 23 September 2025, the Company is looking forward to the Capacity Market ("CM") T-4 contract auction over the coming days, and expects to win a 15-year CM contract for its Pyebridge 8.1 MW flexgen asset, materially boosting the asset's guaranteed income and profitability. We are looking forward to updating the market with the results of the CM auction in due course.

Pieter Krügel, CEO at Quantum Data Energy PLC, said: "We are delighted with the successful completion of financial close and start of construction at our third flexible generation power project. We are proving that our business model is attractive and that we can scale at pace. We are hard at work to get our next projects funded and into construction, as we progress toward our initial target of 300 MW and beyond. QDE is establishing itself as the first and leading provider of flexible generation power solutions on the LSE, and we are proud to be part of and support the UK's energy transition."