Quantum Data Energy (MAST.L) Rapid Progress 25112025

Quantum Data Energy (QDE, MAST.L) delivers flexible power solutions to the UK grid and AI datacentres worldwide. MAST.L is targeting 1GW of new generation by 2030. Our current value range GBp 51-54 is based only on 150MW and our expected dilution of 223m shares. Our milestones tables in this note help investors understand the rapid pace of progress and strategic change. MAST.L’s transformation starts with the raise and liability structuring 11 Jul 2025. Current NoSh is 83,095,927, see RNS 06 11 25. Issued shares as a result of the prepaid warrants would be ~145m. The cash warrants package introduces up to ~242m value accretive new shares, 50% of which expire 11 Jan 26. Full dilution is potentially up to 417m shares. Our table below sets...