Metalnrg Plc Regulatory News (MNRG)

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FOR IMMEDIATE RELEASE

8 August 2022

MetalNRG plc

Update on legal proceedings against Brit Energy Holdings LLP, Pierpoalo Rocco and BritNRG Limited

MetalNRG plc ("the Company") is pleased to announce that, in its continuing civil legal proceedings in the English High Court against Brit Energy Holdings LLP (the "LLP"), Mr Pierpoalo Rocco and BritNRG Limited (the "Joint Venture Company"), the Company made an application for expedition of the hearing of its application for summary judgment against the LLP and the Joint Venture Company for, inter alia; (1) the striking out of the defences filed by the LLP and the Joint Venture Company; (2) a declaration that the series of agreements entered into in April 2021 should be set aside; and (3) the recovery from those defendants of monies paid to the LLP totalling £1,019,999, plus interest and costs.

The application for expedition was heard on 1 August 2022 and granted, with the Court scheduling the listing of the application for summary judgement for 21 and 22 September 2022, with judgement to be handed down at the hearing. Accordingly, the Company's expects determination of the main causes of action no later than 22 September 2022.

The application made for leave to appeal by the LLP and Joint Venture Company was denied.

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