Vesting of option awards

ITM Power PLC

28 October 2026

 

28 October 2026

ITM Power plc

(the “Company”)

Long Term Incentive Plan – vesting of option awards

ITM Power announces the vesting of an aggregate of 431,157 historically awarded share options to the PDMRs below under the Company’s Long Term Incentive Plan (“LTIP”):

Name of Director/PDMR	Number of vested options	Exercise expiry
Dennis Schulz, CEO	298,494	25 October 2033
Simon Bourne, CTO	132,663	25 October 2033

The terms of the LTIP were previously announced by the Company on 30 October 2023.

The vested options may be exercised at an option exercise price of £0.05 per ordinary share at any time prior to the exercise expiry date.

The notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.

Enquiries:

ITM Power plc	[phone]
Huan Quayle (Company Secretary) Justin Scarborough (Investor Relations)
Berenberg	[phone]
Ciaran Walsh, Harry Nicholas
J.P. Morgan Cazenove	[phone]
Richard Perelman, Charles Oakes

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dennis Schulz
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ITM Power plc
b)	LEI	21380042MB2JKZ6RRP12
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Vesting of awards under the 2020 Long Term Incentive Plan
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		Nil	298,494
d)	Aggregated information
	- Aggregated volume	298,494
	- Price	NA
e)	Date of the transaction	26 October 2026
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon Bourne
2	Reason for the notification
a)	Position/status	Chief Technology Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ITM Power plc
b)	LEI	21380042MB2JKZ6RRP12
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Vesting of awards under the 2020 Long Term Incentive Plan
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		Nil	132,663
d)	Aggregated information
	- Aggregated volume	132,663
	- Price	NA
e)	Date of the transaction	26 October 2026
f)	Place of the transaction	Outside a trading venue

About ITM Power plc:

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.

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