SIMEC Atlantis Energy Regulatory News (SAE)

The information contained in this announcement is inside information under the Market Abuse Regulation (EU) No 596 / 2014. The person responsible for arranging the release of this announcement on behalf of SIMEC Atlantis Energy Limited is Tim Cornelius, Chief Executive Officer of SIMEC Atlantis Energy Limited.

28 February 2020

SIMEC ATLANTIS ENERGY LIMITED

("Atlantis" or the "Company")

Management change

SIMEC Atlantis Energy Limited ("Atlantis"), the global developer, owner and operator of sustainable energy projects, announces that Mr. Andrew Dagley will stand down as Chief Finance Officer ("CFO"), at the end of February 2020. Andrew will remain an Executive Director on the Board of Atlantis and will lead the financing of the Uskmouth waste to energy conversion project.

The Company is pleased to announce that Mr. Stephen Hutt, who joined Atlantis as part of the acquisition of Green Highland Renewables in 2019, will be appointed as Group CFO with effect from 1st March 2020 but will not be joining the board at this time. Stephen will be based at the Company's head office in Edinburgh.

Tim Cornelius, CEO of Atlantis, commented:

"I would like to thank Andrew for his support and hard work, particularly over the last two years as we have transformed the Company from a marine energy specialist into a leading developer of renewable and sustainable energy projects driven by acquisitions in the hydro and waste to energy sectors. Andrew will now take up a role focusing on the financial close package for our Uskmouth conversion project.

I am delighted that Stephen has agreed to accept the CFO position and I look forward to working closely with him as we continue to grow the Atlantis group. Stephen joined Atlantis in 2019 as part of the acquisition of Green Highland Renewables, where he held the dual roles of Managing Director and CFO, and he has quickly become an integral and highly valued part of the team. His experience and pedigree in the delivery, financing and operation of renewable energy projects in the UK will be very valuable as we seek to finance, construct and commission our flagship projects, as well as continue to grow our hydro, marine and end of waste project portfolio."

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Notes to Editors

SIMEC Atlantis Energy 

SIMEC Atlantis Energy is the global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development. This includes a 77% stake in the world's largest tidal stream power project, MeyGen, and 100% ownership of the 220MW Uskmouth power station conversion project

www.simecatlantis.com