ALTEO Energy Services Public : wholly owned subsidiary ECO FIRST Ltd. and MOL Hungarian Oil and Gas Plc. have signed a long term service contract for a term of 10 years.

ANNOUNCEMENT

In compliance with its obligation to provide notification of extraordinary events under Section 55 of Act CXX of 2001 on the Capital Market, and Section 1.18 - valid conclusion of a contract for a large order awarded to the issuer - of Annex 4 of Decree No. 24/2008 (VIII. 15.) of the Minister of Finance, ALTEO Energiaszolgáltató Nyilvánosan Működő Részvénytársaság (registered office: H-1033 Budapest, Kórház utca 6-12; company registration number: Cg.01-10-045985; hereinafter: "ALTEO") hereby provides the following information:

ALTEO's wholly-owned subsidiary ECO-FIRSTHulladék Kereskedelmi Korlátolt Felelősségű Társaság1 (registered office: H-1033 Budapest, Kórház utca 6-12, company registration number: Cg. 01-09-344380, hereinafter: "ECO-FIRST"), as service provider, and MOL Magyar Olaj- és Gázipari Nyilvánosan Működő Részvénytársaság (registered office: H-1117 Budapest, Dombóvári út 28; company registration number: Cg. 01-10-041683, hereinafter "MOL"), as principal, have entered into a long-term service contract for a term of 10 years for the utilization of high inert natural gas. Pursuant to the contract, ECO-FIRST is responsible for the preparation of the high inert natural gas produced by the gas wells for the MOL Csombárd Gas Plant for road transport (compression, loading into transport containers), its transport by road, offloading at the MOL site and delivery to the combustion equipment. To deliver the service, ECO-FIRST is implementing an investment project of approximately HUF 820 million, which includes the purchase of equipment for gas compression, transport and unloading, as well as the implementation of the necessary construction works at the MOL site. Following completion of the project, ECO-FIRST will supply MOL with 8.5 million Nm3 of gas per year.

The new contract creates a new technological opportunity in the field of energy utilization of high inert gas from MOL's Hungarian gas fields.

The utilization of high inert natural gas in Hungary reduces Hungary's dependence on natural gas imports, as alternative gas resources available in Hungary can be extracted and utilized. We hope to pursue further cooperation opportunities with MOL in the exploitation of domestic high inert natural gas.

The new contract reinforces ALTEO's leadership in the B2B energy service sector. Pursuant to the newly signed contract, in accordance with the terms and conditions therein, ALTEO is scheduled to start providing services to MOL from November 1, 2024 until October 31, 2034.

Budapest, May 27, 2024

ALTEO Nyrt.

1 The name of the company refers to its previous activity and the change to an appropriate name is underway.

		ALTEO Energiaszolgáltató Nyrt.		H-1033 Budapest, Kórház utca 6-12
			+36 1		⎢
www.alteo.hu		Telephone:		⎢		⎢
Registered by:	Budapest-Capital Regional Court as Court of
					Registration Cg. 01-10-045985