Angus Energy Regulatory News (ANGS)

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

4 July 2022

Angus Energy Plc

("Angus Energy", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

Direct Subscription for £3,000,000

TVR

Further to the Company's announcement of 24 May 2022, Angus Energy Plc (AIM:ANGS) is pleased to announce that following receipt of the subscription funds it has now completed the subscription to raise, in aggregate, gross proceeds of £2,000,000 through the direct subscription of 182,000,000 Ordinary Shares (the "Initial Subscription Shares") to a group of family offices and private investors led by Aleph International Holdings (UK) Limited ("Aleph") at a price of 1.0989 pence per share, conditional only on Admission.

In addition, subscription agreements have also been signed for the remaining £1,000,000 through the direct subscription of 91,000,000 at a price of 1.0989 pence per share, (the "Secondary Subscription Shares") and completion of the Secondary Subscription is conditional, inter alia, upon admission of the Secondary Subscription Shares (as defined below) to trading on AIM and, on receipt of the Secondary Subscription funds by 31 July 2022.

Admission to trading

Application will be made to the London Stock Exchange for Admission of the Initial Subscription Shares (the "New Shares"). It is expected that admission will become effective and dealings in the New Shares will commence at 8.00 a.m. on or around 8 July 2022 ("Admission"). A further announcement will be made advising of the admission date for the Secondary Subscription Shares following receipt of the funds.

Following the issue of the Initial Subscription Shares, the Company will have 2,465,650,514 Ordinary Shares in issue, each share carrying the right to one vote (the "Enlarged Issued Share Capital"), each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury.

The above figure of 2,465,650,514 Ordinary Shares may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

END

For further information on the Company, please visit www.angusenergy.co.uk or contact:

Enquiries:

Angus Energy Plc www.angusenergy.co.uk

George Lucan Tel: +44 (0) 208 899 6380

Beaumont Cornish Limited (Nomad) www.beaumontcornish.com

James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396

WH Ireland Limited (Broker)

Katy Mitchell / Harry Ansell Tel: +44 (0) 207 220 1666

Flagstaff PR/IR angus@flagstaffcomms.com

Tim Thompson / Fergus Mellon Tel: +44 (0) 207 129 1474

Aleph Commodities info@alephcommodities.com

Disclaimers - this Announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "forecasts", "plans", "prepares", "anticipates", "projects", "expects", "intends", "may", "will", "seeks", "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Announcement and include statements regarding the Company's and the Directors' intentions, beliefs or current expectations concerning, amongst other things, the Company's prospects, growth and strategy. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The Company's actual performance, achievements and financial condition may differ materially from those expressed or implied by the forward-looking statements in this Announcement. In addition, even if the Company's results of operations, performance, achievements and financial condition are consistent with the forward-looking statements in this Announcement, those results or developments may not be indicative of results or developments in subsequent periods. Any forward-looking statements that the Company makes in this Announcement speak only as of the date of such statement and (other than in accordance with their legal or regulatory obligations) neither the Company, nor the Bookrunner nor Beaumont Cornish nor any of their respective associates, directors, officers or advisers shall be obliged to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.