Acquisition Update

30 October 2024

Codex Acquisitions plc

Second Extension of Long Stop Date and Exclusivity Period for Proposed Acquisition

Codex Acquisitions plc (LSE: CODX) (the "Company" and "Codex") is pleased to announced that it has entered into a second amendment letter, dated 25 October 2024 (the "Extension Side Letter") to the heads of terms, dated 8 December 2023 (the "HOTs") with Technologies New Energy S.A. ("TNE"), a sociedade anónima incorporated in Portugal operating in the renewable energy sector, pursuant to which the Long Stop Date and Exclusivity Period (as specified in the HOTs) have been extended by mutual agreement of the parties to 31 December 2024 to provide for additional time for Codex to complete its proposed acquisition of the entire issued share capital of TNE (the "Proposed Acquisition"). The Extension Side Letter does not alter any other provisions specified in the HOTs.

Background to the Proposed Acquisition

The Company was established as a 'special purpose acquisition company' with the objective of undertaking one or more acquisitions in the clean and renewable energy sector, as outlined in its prospectus published on 4 March 2022, a copy of which can be found on the Company's website at the following link: https://www.codexplc.com.

The Proposed Acquisition is in line with the Company's acquisition strategy.

There can be no guarantee that the Proposed Acquisition will complete nor as to the final terms of the Proposed Acquisition.

About TNE

TNE is a global provider and project developer of integrated state-of-the-art energy efficiency, energy transition and decarbonisation solutions.

TNE owns a diversified and differentiated portfolio of renewable projects in Portugal based on the energy flexibilisation, Power-to-X and Biomass-to-Liquids technologies architecture that will enable novel applications to a clean transition for the hard-to-abate sectors such as chemical industries, mobility applications and urban built environments. TNE mission is to significantly accelerate developments to drive decarbonisation efforts at scale and get a lasting and unparalleled impact on our planet.

Further details about TNE can be found on its website at the following link: https://tne.pt/.

Julio Perez, Non-Executive Director of the Company, commented:

"We appreciate our partners at TNE for agreeing to extend both the Long Stop Date and the Exclusivity Period. This extension is essential, granting us the additional time needed to advance the Proposed Acquisition. We are committed to successfully finalising this transaction and look forward to our ongoing collaboration with TNE.

Ricardo Eiras, CTO of TNE, commented:

"We thank Codex for agreeing to a second extension to both the Long Stop Date and Exclusivity Period. TNE remains fully committed to completing this key transaction with Codex and values their consistent cooperation and support throughout this process."

The Company will make further announcements in due course, as appropriate.

Enquiries:

For further information, please visit www.codexplc.com or contact:

Codex Acquisitions plc

Julio Perez

Non-Executive Director

T: +44 (0)7590 657 309

Email: info@codexplc.com