SulNOx Group PLC - Issue of Shares to EPS Ventures & Consultant

22 July 2025

Sulnox Group Plc

(the "Company" or "Sulnox")

Issue of Shares to EPS Ventures Pte Ltd.

Issue of Shares to Consultant

Total Voting Rights

Issue of Shares to EPS

On 13 January 2025, the Company announced the signing of a significant agreement with Eastern Pacific Shipping Pte Ltd (the "Agreement"), one of the world's largest privately-owned shipping companies (the "Announcement").  The Agreement encompasses both investment into Sulnox and a major product supply contract for its Sulnox Eco^TM fuel conditioner ("Sulnox Eco").

In accordance with the terms of the Agreement, the Company has issued a total of 935,362 new ordinary shares of 2 pence each ("Ordinary Shares") to EPS Ventures Pte Ltd (the "EPS Shares").  As set out in the Announcement, the issue of these Ordinary Share is related to the volume of Sulnox Eco purchased over the previous quarter by EPS for use in its fleet of ships.  The funds received will be used for general working capital purposes.

Issue of Shares to Consultant

The Company has issued a total of 8,333 new Ordinary Shares in settlement of invoices from a consultant (the "Consultancy Shares"), at a price of 90.00 pence per Ordinary Share in settlement of a liability of £7,500.00.

The price of the above issue has been calculated on the average share price for the period of time over which the services were delivered and the terms of the consultant's contract. 

Admission and Total Voting Rights

An application will be made to admit the EPS Shares and the Consultancy Shares for trading on the AQSE Growth Market, which is anticipated to occur on or around 25 July 2025 ("Admission").  The new Ordinary Shares will equate to 0.71% of the total Ordinary Shares on Admission.  The Ordinary Shares are being issued on the terms set out in the Announcement, at 2 pence per share for a total of £18,707. The new Ordinary Shares are being issued under the Company's existing share authorities.

On Admission, the Company will have 131,132,277 Ordinary Shares in issue, each with one voting right. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company is 131,132,277. This figure should be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

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