Ascent Resources Regulatory News (AST)

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

22 June 2026

Ascent Resources plc

("Ascent" or the "Company")

Private Placement and Loan Conversion

Ascent Resources Plc (LON: AST), the onshore US focused oil and gas company, is pleased to announce that it has raised gross proceeds of £400,000 through a private placement of new ordinary shares in the Company (the "Placing").

Highlights

§ Gross proceeds of £400,000 raised at a price of 0.5 pence per new ordinary share;

§ 200% warrant cover - two (2) warrants attached to each Placing Share, exercisable at 0.5 pence per share for a period of four (4) years from Admission, incorporating a reset mechanism to protect warrant holders in the event of any future equity raise below 0.5 pence per share; and

§ Net proceeds of £387,500 (after placing commission) to be used to develop the Company's strategy and for general working capital purposes.

Placing Details

The Company has raised gross proceeds of £400,000 (before expenses) by way of a private placement of 80,000,000 new ordinary shares of 0.5 pence each in the capital of the Company (the "Placing Shares") at a price of 0.5 pence per Placing Share (the "Placing Price") to a number of new and existing investors (the "Placees").

The Placing Shares will rank pari passu in all respects with the existing ordinary shares in the capital of the Company and will be issued on a non-pre-emptive basis.

Warrants

Each Placing Share will have two (2) warrants attached (the "Warrants. Each Warrant will entitle the holder to subscribe for one (1) new ordinary share in the capital of the Company at an exercise price of 0.5 pence per share. The Warrants will be exercisable in cash at any time during the period of four (4) years from the date of Admission of the Placing Shares.

Reset Mechanism: The Warrants will include a price reset mechanism designed to protect warrant holders against future equity raises below the current Placing Price. Specifically, if the Company issues any new equity securities at a price per share below 0.5 pence during the term of the Warrants, the exercise price of the Warrants will automatically reset to such lower issue price. Full details of the reset provisions will be set out in the warrant instrument.

Loan Conversion

In addition, pursuant to a Conversion Notice dated 19 June 2026, the Company is converting US$150,000 of outstanding principal under its Investment Agreement with RiverFort Global Opportunities PCC Limited into equity. The Company will issue 22,727,270 new ordinary shares at 0.5 pence per share ("Conversion Shares") together with 11,363,635 Preference 2 Shares (one half Preference 2 Share per ordinary share, pursuant to the June 2024 deed of consent and amendment).

This conversion cures and discharges in full the reprofiled balance of the repayment originally due on 21 April 2026 (as extended to 6 June 2026 under the May 2026 Deed of Amendment and Restatement).

Post conversion, the balance on the Riverfort CLN is $1,004,469.43.

The new ordinary shares will rank pari passu with the existing ordinary shares and the Placing Shares and will be issued on a non-pre-emptive basis.

Use of Proceeds

The net proceeds from the Placing will be used to develop the Company's strategy and for general working capital purposes. This will support the advancement of Ascent's strategic initiatives, ongoing operations, and provide flexibility to pursue value-accretive opportunities in line with the Board's current focus on onshore gas assets and other corporate objectives.

Admission to Trading on AIM

Application will be made to the London Stock Exchange for the admission of the Placing Shares and Conversion Shares to trading on AIM ("Admission"). It is expected that Admission will become effective at 8.00 a.m. on or around 26 June 2026.

Total Voting Rights

In accordance with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following Admission, the Company will have 934,937,857 Ordinary Shares in issue, none of which will be held in treasury. Accordingly, the total number of voting rights in the Company will be 934,937,857 and shareholders may use this figure 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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