THIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF REABOLD IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION EU NO. 596/2014, AS RETAINED AND APPLICABLE IN THE UK PURSUANT TO SECTION 3 OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Further to the Company's announcement on 13 March 2026, Reabold, the investing company focused on developing strategic gas projects for European energy security, is pleased to announce that it proposes to conditionally raise a minimum of £1.1 million (before fees and expenses) via a placing of (the "Placing") new ordinary shares of 0.1 pence each in the Company ("New Ordinary Shares") at a placing price of 0.1 pence per share (the "Issue Price").

In addition, and consistent with the terms of the conditional subscription with a group of US-based strategic investors announced on 13 March 2026 (the "Strategic Investment"), participants in the Placing will receive 1.25 warrants for each New Ordinary Share, each with a right to convert to one new Ordinary Share at an exercise price of 0.11 pence per Ordinary Share (the "Warrants"). The Warrants will be created pursuant to the Warrant Instrument dated 12 March 2026 and will be exercisable from the first business day following the date of Admission (as defined below) until 31 March 2029. Full details of the Warrant Instrument will be set out in the Circular to Shareholders referred to below. As previously announced, the Strategic Investment of £1.9 million is conditional on the Company raising a further £1.1 million prior to 12 May 2026.

Separately, the Company also intends to complete a subscription for New Ordinary Shares (the "Subscription" and, together with the Placing and Strategic Investment, the "Fundraise") at the Issue Price, which will also involve the participation of certain of the Company's directors who have indicated that they intend to subscribe for approximately £306,000 worth of New Ordinary Shares, in aggregate. Investors in the Subscription will also receive Warrants on the same terms as set out above. Further details of the Subscription will be announced in due course.

The net proceeds of the Fundraise will be used to progress the key West Newton project, including the funding of both Reabold and Rathlin's shares of the recompletion of the A-2 well, expected to take place in the coming months. The Warrant mechanism is intended to provide the Company with access to additional capital in the event of a successful A-2 recompletion and to enable it to move into early production as soon as possible.

The Placing will be conditional on obtaining approval of the Shareholders at a General Meeting of the Company. A Circular containing a notice of General Meeting will be published and notified to Shareholders in due course. The Circular and notice of General Meeting, once published, will be made available on the Company's website at https://reabold.com/.

The Placing will be conducted by way of an accelerated bookbuild ("ABB") which will be launched immediately following this announcement ("Announcement"), in accordance with the terms and conditions set out in the Appendix to this Announcement. The timing of the closing of the Placing, the number of New Ordinary Shares to be issued pursuant to the Placing and the allocation of the New Ordinary Shares to be issued pursuant to the Placing are at the discretion of the Company and Cavendish Capital Markets Limited ("Cavendish") and a further announcement confirming these details is expected to be made in due course.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be issued pursuant to the Placing to be admitted to trading on AIM. It is expected that Admission will become effective, and that dealings in the New Ordinary Shares will commence on AIM, at 8.00 a.m. on 27 April 2026 ("Admission") on which date it is also expected that the New Ordinary Shares will be enabled for settlement in CREST.