Acquisition Update

Codex Acquisitions plc (LSE: CODX) (the "Company" and "Codex") is pleased to announced that it has entered into an amendment letter, dated 7 June 2024 (the "Extension Side Letter") to the heads of terms, dated 8 December 2023 (the "HOTs") with Technologies New Energy S.A. ("TNE"), a sociedade anónima incorporated in Portugal operating in the renewable energy sector, pursuant to which the Long Stop Date and Exclusivity Period (as specified in the HOTs) have been extended by mutual agreement of the parties to 30 September 2024 to provide for additional time for Codex to complete its proposed acquisition of the entire issued share capital of TNE (the "Proposed Acquisition"). The Extension Side Letter does not alter any other provisions specified in the HOTs.

Background to the Proposed Acquisition

The Company was established as a 'special purpose acquisition company' with the objective of undertaking one or more acquisitions in the clean and renewable energy sector, as outlined in its prospectus published on 4 March 2022, a copy of which can be found on the Company's website at the following link: https://www.codexplc.com.

The Proposed Acquisition is in line with the Company's acquisition strategy.

There can be no guarantee that the Proposed Acquisition will complete nor as to the final terms of the Proposed Acquisition.