SDX Sdx Energy Plc

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

20 September 2024

SDX ENERGY PLC ("SDX" or the "Company")

UPDATE ON CONVERTIBLE LOAN

As announced on 4 September 2024, the Company and Aleph Finance Ltd (the "Lender") signed a new agreement (the "New Facility Agreement") that would refinance the Company's syndicated unsecured convertible loan agreement with the Lender for up to US$3.25 million (the "Existing Convertible Loan").

The Lender and the Company are now negotiating to amend the terms of the New Facility Agreement. Therefore, the General Meeting that was to be held at 11.00 a.m. on Friday 20 September 2024 at 38 Welbeck Street, London, W1G 8DP will not be held. However, the Annual General Meeting will be held at 11.30 a.m. on Friday 20 September 2024 at 38 Welbeck Street, London, W1G 8DP.

The syndicated Existing Convertible Loan is unsecured, convertible at any time at the option of the individual lenders and repayable on 24 July 2024. The Company has requested and the Lender has consented and agreed to repayment of the Existing Convertible Loan being delayed, provided that the New Facility Agreement is entered into on or before 11 October 2024. The amount payable is US$3.82 million (principal US$3.25 million and interest US$0.57 million).

By 11 October 2024, the Company plans to convene a general meeting to ask shareholders to vote on the amended terms of the New Facility Agreement.

A further announcement will be made in due course.

For further information:

About SDX

For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com.

Forward-looking information

Certain statements contained in this press release may constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact should be viewed as forward-looking information.