Unaudited Half-Year Results Ending 30 June 2026

Technologies New Energy plc (LSE: TNE) announces its unaudited condensed consolidated interim results for the six months ended 30 June 2026.

Financial highlights

• Revenue of €81,151 (H1 2025: €64,915), an increase of 25%, generated principally by Technologies New Energy S.A. ("TNE S.A.").
• Loss for the period of €376,551, including a non-cash share-based payment charge of €33,614 (H1 2025: €1,567,708, which included a non-cash reverse acquisition listing expense of €1,215,337; excluding that charge the H1 2025 loss was €352,371).
• Basic and diluted loss per share of 0.24 euro cents (H1 2025: 1.07 euro cents).
• Cash and cash equivalents of €283,707 at 30 June 2026 (31 December 2025: €762,638).
• Net liabilities of €1,147,804 at 30 June 2026 (31 December 2025: €789,599), of which €726,817 of shareholder obligations are to be settled by the issue of new ordinary shares rather than in cash.

Operational highlights

• Continued development of the Group's Negative-C portfolio, including its biomass-to-sustainable-fuels, biomass-to-power, biomethane and biochar projects.
• Acquisition of a 90% interest in Cleversearch Lda in February 2026, expanding the Group's project development activities, including the Azores biorefinery project.
• Continued development of the Group's energy-transition activities, including battery energy storage systems (BESS), energy management systems and associated electrification projects.
• Expansion of the Group's activities into data-centre power infrastructure, with the development of a pipeline of projects combining power, battery storage and renewable-energy infrastructure.
• Continued delivery of operations and maintenance and engineering services to industrial and energy-sector clients in Portugal and Morocco.
• Continued development of the Diverfuel digital platform for the clean fuels and green chemicals market.

CHAIRMAN'S STATEMENT

I am pleased to announce the Group's interim results for the six months ended 30 June 2026.

Financial review

The Group incurred a loss of €376,551 in the period, including a non-cash share-based payment charge of €33,614 (H1 2025: €1,567,708, including a non-cash reverse acquisition listing expense of €1,215,337). Revenue for the period was €81,151 (H1 2025: €64,915).

The Group had a cash position of €283,707 at 30 June 2026 (31 December 2025: €762,638). The basic loss per share was 0.24 euro cents (H1 2025: 1.07 euro cents).

Outlook

The Group remains focused on progressing its portfolio of energy-transition projects, particularly across sustainable fuels, biomass-to-power and Data Centre power infrastructure, while continuing to develop its established advisory, engineering and contracting activities.

On behalf of the Board, I would like to thank our staff and advisers for their hard work and our shareholders for their continued support.

José Meneses da Silva Moura

Executive Chairman

DIRECTORS' REPORT AND STATEMENT OF DIRECTORS' RESPONSIBILITIES

The results of the Group are addressed in the Chairman's statement above. The total comprehensive expense for the period was €391,819 (H1 2025: €1,565,377). On 17 June 2026 the Company granted share options to the Chief Executive Officer in settlement of a performance bonus (Note 14).

Directors

The following directors held office during the period:

José Meneses da Silva Moura, Executive Chairman

Julio Perez, Chief Executive Officer

Ricardo Guimarães Da Costa Eiras, Chief Operating Officer

Salvador Insua Amico, Senior Independent Non-Executive Director

(Resigned 27 June 2026)

Kate Joan Osborne, Independent Non-Executive Director

(Resigned 27 June 2026)

Going concern

The Directors' assessment of going concern, including a material uncertainty, is set out in Note 3.

Principal risks and uncertainties

The principal risks and uncertainties remain those set out in the Annual Report for the year ended 31 December 2025, except that funding and liquidity risk has increased (see Note 3).

By order of the Board

Julio Perez

Chief Executive Officer

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the six months ended 30 June 2026

All results relate to continuing operations.

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30 June 2026

The condensed consolidated interim financial statements were approved by the Board of Directors on 29 September 2026 and signed on its behalf by: Julio Perez, Chief Executive Officer.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

For the six months ended 30 June 2026

Non-cash transactions: On 20 April 2026, TNE S.A. assigned to the Company a receivable of €120,000 due from Diverfuel S.A., with a corresponding reduction in the amount owed by TNE S.A. to the Company. The transaction was wholly intragroup, involved no movement of cash and has been eliminated on consolidation. Accordingly, it has no effect on the consolidated statement of cash flows.

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the six months ended 30 June 2026

Six months ended 30 June 2026 (unaudited)

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

General information

Technologies New Energy plc is a public limited company incorporated and domiciled in England and Wales (registered number 13672588), with its registered office at 9th Floor, 107 Cheapside, London EC2V 6DN. Its ordinary shares are admitted to the equity shares (transition) category of the Official List and to trading on the Main Market of the London Stock Exchange.

On 30 April 2025 the Company completed the reverse acquisition of Technologies New Energy S.A. (TNE S.A.), a company incorporated in Portugal, which is the accounting acquirer under IFRS 3. On 28 August 2025 the Group acquired Diverfuel S.A. and on 3 February 2026 it acquired a 90% interest in Cleversearch Lda (Note 16). The principal activity of the Group is renewable energy engineering, consulting, project development and energy transition services.

Basis of preparation

These condensed consolidated interim financial statements for the six months ended 30 June 2026 have been prepared in accordance with UK-adopted International Accounting Standard 34 Interim Financial Reporting and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority. They should be read in conjunction with the Annual Report and Financial Statements for the year ended 31 December 2025, which were prepared in accordance with UK-adopted international accounting standards.

The interim financial statements are unaudited and have not been reviewed by the Company's auditors. They do not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006.

The comparative information for the six months ended 30 June 2025 has been restated to reflect the reverse acquisition accounting applied in the financial statements for the year ended 31 December 2025. The principal effect is the recognition of a non-cash listing expense of €1,215,337 on 30 April 2025, increasing the loss for that period from €349,600, as previously reported, to €1,567,708. Loss per share has been recalculated accordingly, and cash at 30 June 2025 has been restated from €726,037 to €721,647 to apply the ECB closing exchange rate.

The financial statements are presented in euros (€), the functional currency of TNE S.A., and are rounded to the nearest euro. The results of the Portuguese subsidiaries are derived from their management accounts prepared under the Portuguese accounting framework (SNC), adjusted where necessary to comply with the Group's IFRS accounting policies.

Going concern

At 30 June 2026, the Group had cash of €283,707, net current liabilities of €1,016,032 and net liabilities of €1,147,804. Current liabilities include €726,817 of shareholder obligations that are to be settled through the issue of new ordinary shares and therefore do not require a cash outflow. The remaining current liabilities principally comprise payments to suppliers and other creditors.

The Directors have prepared cash flow forecasts covering the period to 30 June 2027 which reflect the Group's expected trading performance, operating cash flows and working capital requirements. The forecasts anticipate positive trading and cash generation which, together with the proposed settlement of certain shareholder obligations through the issue of new ordinary shares, is expected to enable the Group to meet its liabilities as they fall due.

The Company is also considering an equity fundraising to provide additional working capital and support the continued development of the Group's activities. No such fundraising had been completed or committed at the date of approval of these interim financial statements.

The forecasts are dependent on the Group achieving the anticipated level and timing of trading and associated cash receipts. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Group's and the Company's ability to continue as going concerns. Notwithstanding this material uncertainty, the Directors consider the assumptions underlying the forecasts to be reasonable and have a reasonable expectation that the Group and the Company will have sufficient resources to meet their obligations as they fall due. Accordingly, the Directors continue to adopt the going concern basis in preparing these interim financial statements. The financial statements do not include any adjustments that would result if the Group and the Company were unable to continue as going concerns.

Accounting policies, judgements and estimates

The accounting policies, significant judgements and key sources of estimation uncertainty are consistent with those applied in the Annual Report and Financial Statements for the year ended 31 December 2025. No new standards, amendments or interpretations effective during the period had a material impact on the Group.

Segmental information

The Board, as chief operating decision-maker, considers that the Group operates as a single operating segment focused on renewable energy services and project development. Substantially all revenue arises in Portugal and Morocco and substantially all non-current assets are located in Portugal.

Revenue

Administrative expenses - Technologies New Energy plc

Administrative expenses of the Company of €197,536 include a non-cash share-based payment charge of €33,614 and related employer's national insurance of €2,632 (Note 14).

Finance income and finance costs

Finance costs principally comprise the unwinding of the discount on a deferred professional fee recognised in connection with the reverse acquisition.

Taxation

No tax charge arises for the period (H1 2025: nil). TNE S.A. was loss-making in the period and no deferred tax assets have been recognised in respect of tax losses of the Group, as it is not considered sufficiently probable that future taxable profits will be available against which they can be utilised.

Loss per share

The weighted average number of shares for the comparative period has been determined in accordance with the reverse acquisition accounting requirements of IFRS 3. Potential ordinary shares were anti-dilutive in both periods presented and have therefore been excluded from diluted loss per share.

Property, plant and equipment and intangible assets

Property, plant and equipment of €62,997 (31 December 2025: €35,969) comprises plant and equipment and right-of-use assets of TNE S.A. Additions of €31,860 were made in the period. The depreciation charge for the period of €4,832 relates to assets held at 31 December 2025.

The intangible asset of €115,000 relates to the Diverfuel digital platform for the clean fuels and green chemicals market. At 30 June 2026, the platform remained under development and had not yet been released or become available for use. Accordingly, no amortisation has been recognised in the period. Amortisation will commence when the platform is available for use. The Directors have considered the carrying value of the asset at 30 June 2026, including the status of the platform's development and its expected future commercial use, and concluded that no impairment was required.

Trade and other receivables

Trade and other payables and accrued liabilities principally comprise amounts due to suppliers and professional advisers.

Shareholder loans of €726,817 are unsecured and interest free and are to be satisfied by the allotment of new ordinary shares in the Company rather than repaid in cash. As they are to be settled in a variable number of the Company's own shares, they are classified as financial liabilities.

The suprimentos of €327,013 advanced to TNE S.A. by Diverstock Investment S.A. are subordinated, unsecured and interest free. During 2026, it was agreed that these amounts would also be satisfied by the allotment of new ordinary shares in the Company rather than repaid in cash.

Share capital and reserves

At 30 June 2026 the Company had 159,263,550 ordinary shares of £0.10 each in issue (31 December 2025: 159,263,550). There were no movements in share capital or share premium during the period.

At 30 June 2026, 15,883,904 warrants were outstanding, exercisable at £0.10 per share in two tranches of 7,941,952: tranche 1 until 30 April 2027 and tranche 2 from 30 May 2026 until 30 April 2028. No warrants were exercised or lapsed during the period.

Share options

On 17 June 2026, the Company granted the Chief Executive Officer options over 1,647,727 ordinary shares in settlement of a performance bonus. The options have an exercise price of 10p per share, vest on 31 December 2026 subject to continued service and expire on 17 June 2031.

The options are accounted for as an equity-settled share-based payment under IFRS 2. A charge of £29,163 (€33,614) has been recognised in the period, with a corresponding credit to the share option reserve.

Related party transactions

Diverstock Investment S.A., a company ultimately controlled by José Meneses da Silva Moura and his spouse, was owed €516,250 by the Company in respect of assigned shareholder credits and €327,013 by TNE S.A. in respect of suprimentos at 30 June 2026 (31 December 2025: the same). Tranergy Lda, a substantial shareholder, was owed €210,567 by the Company (31 December 2025: the same). These balances are unsecured and interest free.

During the period, the Chief Executive Officer was granted share options as described in Note 14.

During the period, Diverstock Investment S.A. agreed that the €327,013 of suprimentos would be settled in new ordinary shares rather than cash.

Acquisition of Cleversearch Lda

On 3 February 2026, the Group acquired a 90% controlling interest in Cleversearch Lda, a project development company based in the Azores which is expected to support the development of a biorefinery project for the Group.

The acquisition did not have a material effect on the Group's financial position or results for the six months ended 30 June 2026.

Events after the reporting period

There have been no material events since 30 June 2026 requiring disclosure or adjustment.