SIMEC Atlantis Energy : Uskmouth update

27 January 2022

SIMEC ATLANTIS ENERGY LIMITED
("SAE", the "Company" and, together with its subsidiaries, the "Group")

Uskmouth update

SAE is pursuing a phased approach to the Uskmouth Conversion Project, which will not require the additional infrastructure, such as storage silos, referred to within the planning application as the "Operational Development". SAE has notified Planning and Environment Decisions Wales (PEDW) of the withdrawal of the planning application for works in relation to the Uskmouth Power Station Conversion Project.

The Company will now focus on securing environmental permitting as the first phase of the project. SAE has confirmed with the Welsh Minister and PEDW that it will continue to engage with the call in process related to the application to vary the existing environmental permit. SAE has demonstrated to the independent environmental regulatory body, Natural Resources Wales, that the converted Uskmouth Power Station would operate within stringent environmental legislation.

SAE will engage with the Welsh Ministers and PEDW to enable the awarding of the environmental permit variation in order to proceed with the first phase of the Uskmouth Conversion Project.

Given how critical the conversion is to the South Wales Industrial Cluster (SWIC), SAE looks forward to working closely with Welsh Government, SWIC and associated partners to create a Sustainable Energy Park at Uskmouth. The Uskmouth Sustainable Energy Park will enable the development of new innovative decarbonising technologies, alongside the ongoing development of the Uskmouth Conversion Project. The Sustainable Energy Park will create jobs, and bring investment to the local economy and beyond

For more information please contact:

SIMEC Atlantis Energy Limited	[phone]
Sean Parsons, Director of External Affairs
Investec Bank PLC - NOMAD and Joint Broker	[phone]
Jeremy Ellis Ben Griffiths
Arden Partners PLC - Joint Broker	[phone]
Ruari McGirr Richard Johnson Simon Johnson

Notes to Editors

SIMEC Atlantis Energy

SAE is a global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development. This includes a 77 per cent. stake in the world's largest tidal stream power project, MeyGen, 100 per cent. of the 220MW Uskmouth Power Station conversion project.

https://www.simecatlantis.com/

More on the MeyGen Project: https://simecatlantis.com/projects/meygen/

More on the Uskmouth Project: https://simecatlantis.com/project-development-operation/simec-uskmouth-power/