AFC Energy Regulatory News (AFC)

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

AFC Energy plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Recalculation of % of voting rights, following issuance and admission of new shares.

X

3. Full name of person(s) subject to thenotification obligation: iii

Ervington Investments Limited

Mr Roman Abramovich

4. Full name of shareholder(s)  (if different from 3.):iv

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

9 March 2017

6. Date on which issuer notified:

10 March 2017

7. Threshold(s) that is/are crossed orreached: vi, vii

Ervington Investments Limited: 12%, 11%

Mr Roman Abramovich: 12%, 11%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

GB00B18S7B29

(Ervington Investments Limited)

39,610,494

39,610,494

39,610,494

39,610,494

10.13%

Ordinary Shares

GB00B18S7B29 (Mr Roman Abramovich)

39,610,494

39,610,494

39,610,494

10.13%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

Ervington Investments Limited: 39,610,494

10.13%

Mr Roman Abramovich: 39,610,494

10.13%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Ervington Investments Limited holds a direct interest of 10.13%

Mr Roman Abramovich holds an indirect interest of 10.13% through Ervington Investments Limited

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

Total voting rights held by Ervington Investments Limited, directly, and Mr Roman Abramovich, indirectly, fell below 12% and 11% threshold following issuance and admission of new Ordinary Shares and consequent increase in the total number of Ordinary Shares and voting rights of AFC Energy plc.

14. Contact name:

Andre De Cort

15. Contact telephone number:

+44 20 7471 1602