AFC Energy Regulatory News (AFC)

3 May 2019

AFC Energy PLC

("AFC Energy" or the "Company")

Notification of Major Interest in Shares

AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to confirm receipt of a "TR-1 - Notification of Major Interest in Shares" from Schroders Investment Management Ltd ("Schroders") notifying the Company of Schroder's new 11.117% interest in AFC Energy, up from 10.882% as confirmed in a TR1 on 23 April 2019. Schroders is now the largest single investor in the Company.

The Company also confirms receipt of a "TR1 - Notification of Major Interest in Shares" from Norma Investments Limited, parent company of Ervington Investments Limited, notifying the Company of a new 9.3% interest in AFC Energy, down from 10.13% as a direct result of the issuance of new shares in April 2019 following the recent capital raise. No shares have been sold by Ervington Investments Limited.

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About AFC Energy

AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The technology, pioneered over the past ten years in the UK, is in the process of being deployed in industrial gas plants for grid generation, as an alternative to diesel generators for localised power, in energy storage systems and as the power source for local electricity needs.