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.

29 May 2020

SIMEC ATLANTIS ENERGY LIMITED

("Atlantis" or the "Company")

Uskmouth Conversion Project

Pre-Application Consultation

SIMEC Atlantis Energy Limited, a global developer, owner and operator of sustainable energy projects, today announces the commencement of the 28-day Pre-Application Consultation ("PAC") for the Uskmouth Power Station conversion project, a planning milestone for the project. The PAC will run from 1 June 2020 to 29 June 2020.

Atlantis welcomes the Welsh Government's recent amendment to planning legislation regarding PAC requirements during COVID-19 restrictions which came into effect at midnight on 19 May 2020. Following on from this advice, the Uskmouth Conversion Project PAC will be hosted online on the Simec Atlantis Energy website: www.simecatlantis.com/uskmouth-power-station-planning-application/ where the following documents will be made available:

· Planning application

· Planning statement

· Design and access statement

· Non-technical summary

· Environmental Statement

These documents will be available for review and comment by the public for 28 days from 1 June 2020 to 29 June 2020. Following completion of the PAC, the PAC report will be submitted alongside the full planning application to the local authority, Newport City Council ("NCC") for determination. The statutory timescale for EIA planning application determination is 16 weeks and therefore the Company expects that NCC would have concluded the determination of the planning application by Q4 2020.

Atlantis has been developing the Uskmouth Conversion Project since June 2018 when the Company acquired the project from SIMEC UK Energy Holdings Limited. Since then the design of the project has evolved and been optimised in close consultation with the regulators and local stakeholders. The design evolution has sought to address potential environmental impacts and the following is a summary of the key changes that have been incorporated into the project design.

· Atlantis and project partners SIMEC Subcoal Fuels ("SSF") will not progress the fuel pellet production plant previously considered for construction on land adjacent to the Uskmouth Power Station in Wales, removing the requirement to import raw waste feedstock into Newport, significantly reducing road traffic and transport impacts.

· Fuel pellet production plants are under development at alternative locations in England. It is proposed that fuel pellets will be transported to the Uskmouth project site via rail from these fuel production plants. Fuel delivery by rail replicates previous operational activity at the Uskmouth Power Station when it had been previously coal fired, contributing to a significant reduction in road transport.

-ENDS-

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Notes to Editors

SIMEC Atlantis Energy

SIMEC Atlantis Energy is a 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