Update on proposed acquisition of Dunbar Energy

Summary by AI ^BETAClose X

Electric Guitar PLC has provided an update on its proposed acquisition of Dunbar Energy Inc., stating that discussions are ongoing but have been delayed due to changes in Dunbar's asset base and structuring as it develops its US strategy for behind-the-meter power. The Company is also in negotiations for other US oil and gas assets to support its mission and aims to enter binding terms soon. Electric Guitar PLC's ordinary shares remain suspended from trading on AIM.

Disclaimer*

Electric Guitar PLC

30 March 2026

Electric Guitar PLC

("Electric Guitar" or the "Company")

Update on proposed acquisition of Dunbar Energy Inc.

Further to the Company's announcement of 23 December 2025, the Board of Electric Guitar PLC (LSE: ELEG) (the "Board") provides an update on its proposed acquisition of Dunbar Energy Inc. ("Dunbar").

The Board is continuing discussions regarding the Dunbar acquisition, although this has been delayed by the changing nature of Dunbar's asset base and structuring matters as Dunbar continues to develop its strategy in the USA of behind-the-meter (BTM) power from gas wells to local intensive compute sites. The Board continues to review the Dunbar acquisition and further announcements will be made in due course.

While discussions having been continuing with Dunbar, the Board has been in negotiations in relation to the potential acquisition of interests in other oil and gas assets in the USA, to support the Company's stated mission, and is seeking to enter into binding terms as soon as it is able to.

The Ordinary Shares remain suspended from trading on AIM in the meantime.

The Company will provide further updates as appropriate as matters progress.

Contacts:

Electric Guitar PLC

Richard Horwood

info@electricguitarplc.com

Allenby Capital (Nominated Adviser and Joint Broker)

Jeremy Porter / Alex Brearley

020 3328 5656

AlbR Capital (Joint Broker)

Jon Belliss / Colin Rowbury

020 3026 0320

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