Issue of Equity

29 August 2024

Echo Energy PLC

("Echo" or the "Company")

Deferred Remuneration Awards and Issue of Equity

Echo (LON:ECHO), the Latin America focused natural resources company, announces that it has elected to issue a total of 1,579,370,607 shares to certain current and former Directors and consultants in respect of deferred payment of salaries and fees ("Deferred Remuneration Shares") as follows:

*Ossian Energy is jointly owned by Stephen Birrell and his wife. These shares are being issued in lieu of fees owed to Ossian Energy by the Company for work undertaken by Stephen Birrell prior to his appointment to the Board of Echo in November 2023.

All the Deferred Remuneration Shares will be issued at 0.0033p per share.

The current and former Directors and consultants have agreed to receive Deferred Remuneration Shares in lieu of salary and fees owed. In aggregate, 1,579,370,607 Deferred Remuneration Shares are due to be issued. The shares issued to the current and former Directors constitute a related party transaction under the AIM Rules. As there are no independent Directors to provide a fair and reasonable statement because all the Directors are receiving Deferred Remuneration Shares, Zeus (in its capacity as nominated adviser for the purposes of the AIM Rules) considers that the award of the Deferred Remuneration Shares is fair and reasonable insofar as the Shareholders are concerned.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the Deferred Remuneration Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will take place at 8.00 a.m. on or around 30 August 2024.

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Unconditional Placing Shares, its issued ordinary share capital will comprise 41,347,746,014 Ordinary Shares. All the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company will therefore be 41,347,746,014. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or a change to their interest in, the Company.

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About Echo

Following the partial divestment of its assets in Argentina, Echo entered into a 50:50 joint venture in Peru in July 2024 with an experienced local partner for precious metals (gold/silver) mining and the cleaning of known tailings deposits containing Measured and Indicated resources of gold and silver. Through the JV, known as Boku Resources, Echo has secured an opportunity to scale operations in Peru producing gold and silver through primary mining and tailings cleaning, owning 50% of the production and resources. Initially, Boku intends to establish formalised artisanal and small mining operations on its 100% held Tesoro Gold concession, southern Peru, targeting early cash flow generation by Q4 2024.

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The following notification, made pursuant to Article 19(3) of the Market Abuse Regulation, provides further details.