Business Update

5 August 2026

("Windar" or the "Company")

Business Update

Further to the Company's announcement on 23 July, Windar Photonics plc (AIM: WPHO), a wind energy technology company specialising in LiDAR‑based wind measurement and turbine performance optimisation, provides the following update on recent trading, a proposed equity fundraise and lifting of the current temporary suspension from trading of the Company's shares ("Suspension").

Business update

Further to recent updates, the Company has now reached agreement for a further two product trials with significant wind farm operators in Europe and the US. The number of live trials and of turbines operated by the customers concerned are significantly higher than at any time in Windar's history. 

These trials typically last 3-6 months and are then followed by a further period of analysis and capital approval by the customer before orders are placed. Given that Windar's technology is now proven across multiple platforms, the Board are optimistic that a number of these trials will result in orders in late 2026 and 2027.

Buzzacott LLP, the Company's auditor, continues to conduct its audit of the Company's full year results for year ended 31 December 2025 ("FY25 Results").

The third-party investigation into the circumstances surrounding the posting of certain sales orders in 2024 and 2025 continues to progress.

Proposed equity fundraise and lifting of the Suspension

The proposed equity fundraise is progressing and the Company expects to make a further announcement within the next two weeks. Any fundraise will be conditional upon, passing of the resolutions at the Company's General Meeting on 7 August 2026, publication and posting of the FY25 Results and the lifting of the Suspension. Lifting of the Suspension is currently expected to occur on the same day that the FY25 Results are published and posted to shareholders anticipated to be before the end of August 2026.

The Board will provide further updates as appropriate and in accordance with its obligations under the AIM Rules for Companies.

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