Chariot Limited announced it has entered into a sales agreement for the acquisition of the business and assets of an independent water producer, ENEO Water PTE Limited ("ENEO"), an African company focused on delivering clean water solutions using renewable energy. This acquisition complements Chariot's Transitional Power and Green Hydrogen businesses within the context of increasing water scarcity across Africa. Desalinated water is an essential component of green hydrogen production, so the capacity to implement desalination solutions powered by renewable energy will be critical for the feasibility of Project No ur in Mauritania and other green hydrogen projects; Chariot's intention is to provide affordable access to water for private off takers and municipalities in Africa, as part of its commitment to socially responsible development.

Chariot intends to originate, invest in and own decentralized water supply projects, where the water is produced through renewable energy and can be sold to off takers under long-term agreements; ENE Outilises an efficient,modular and scalable reverse osmosis technology that can be 100% powered by solar energy to produce desalinated water; A proof-of-concept project at the wind far min the Republic of Djibouti is under construction which willgivelocal communities access to potable water for the next 20 years; and Consideration for the acquisition shall be payable in Chariot Ordinary Shares with an initial USD 0.5 million payable on completion of the sales agreement and a further deferred consideration of up to USD 0.5 million payable on the achievement of financial close on further projects.