Fundraising and Notice of General Meeting

23 May 2016

Intelligent Energy Holdings plc

("Intelligent Energy" or the "Company")

Completion of Fundraising and Notice of General Meeting

Subscription for convertible loan notes

On 17 May 2016, the Company announced a fundraising through the issuance of convertible loan notes ("Convertible Loan Notes"). The Company is pleased to announce today that it has completed its £30.0 million gross fundraising through the successful subscription by qualifying investors for the Convertible Loan Notes (the "Fundraising").

Pursuant to the terms of the Fundraising, the Company's largest shareholder, Meditor, subscribed for £25,638,293 of the Convertible Loan Notes. In accordance with the terms of the Subscription Agreement, certain other qualifying investors elected to participate in the Fundraising and subscribed for £4,361,707 Convertible Loan Notes. The additional subscribers for the Convertible Loan Notes included Evolution Placements Corporation (who have subscribed for £2,050,000 Convertible Loan Notes) and Royalton Percy LLC (who have subscribed for £526,707 Convertible Loan Notes).

On the assumption that all of the Convertible Loan Notes held by Meditor are converted, no other Convertible Loan Note holders exercise their conversion rights and the Reinvestment Shares are issued, Meditor would hold 69.3 per cent. of the then issued share capital of the Company.

Publication of shareholder circular and Notice of General Meeting

Certain elements of the Fundraising are subject to the approval of Intelligent Energy shareholders and, accordingly, a shareholder circular dated 23 May 2016 (the "Circular") has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

The Circular contains a notice convening a general meeting to be held at 2.00 pm on 9 June 2016 at Barber-Surgeon's Hall, Monkwell Square, Wood Street, London EC2Y 5BL. The Circular will also shortly be available to view or download in the 'Investor' pages of the Company's website, www.intelligent-energy.com/investors.

Printed copies of the Circular, together with a form of proxy in respect of the general meeting, are today being posted to all shareholders.

Important notice related to financial adviser

Stifel Nicolaus Europe Limited ("Stifel"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Stifel nor for providing advice in relation to the matters referred to herein. No liability whatsoever is accepted by Stifel for the accuracy of any information or opinions contained in this announcement or for the omission of any material information, for which it is not responsible.

Intelligent Energy Holdings plc +44(0) 1509 271 271

Dr Henri Winand, Chief Executive Officer

John Maguire, Chief Financial Officer

Stifel Nicolaus Europe Limited +44(0) 207 710 7600

Peter Lees

Stewart Wallace

Tulchan Communications +44(0) 207 353 4200

James Macey White

Matt Low

Nick Hennis

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