Issue of Equity and Directors' Dealings

Plutus PowerGen plc / Ticker: PPG / Index: AIM

1 February 2016

Plutus PowerGen plc ('PPG' or 'the Company')

Directors' Dealings, Issue of Equity and Exercise of Warrants

Plutus PowerGen plc, the flexible standby power generation developer and operator in the UK announces that it has today issued a total of 120,000,000 new ordinary shares of 0.1p each in the capital of the Company ("New Ordinary Shares").

Deferred consideration

100,000,000 new ordinary shares of 0.1p each (the "Deferred Consideration Shares") have been issued to Philip Stephens, Chief Executive Officer and Paul Lazarevic, Chief Operating Officer, pursuant to the acquisition agreement between Philip Stephens, Paul Lazarevic and the Company, dated 5 August 2014 ("Acquisition Agreement") and as amended following approval of the new terms by shareholders at a general meeting held on 20 November 2015.

Details of the Acquisition Agreement are set out in paragraph 12.1.3 of Part VI of the Company's admission document dated 5 August 2014. Details of the amendments to the terms of the Acquisition Agreement are set out in the circular to shareholders dated 28 October 2015. The Acquisition Agreement provided for an element of deferred consideration for the vendors of Plutus Energy Limited (namely Philip Stephens and Paul Lazarevic), such consideration being for a total of 100 million new ordinary shares of 0.1p each to be issued at 0.6 pence per share.

Exercise of warrants

20,000,000 new ordinary shares of 0.1p each have been issued to Charles Tatnall, Executive Director and James Longley, Chief Financial Officer following the exercise of 10 million warrants each at an exercise price of 0.9p per ordinary share. As a result of the exercise of warrants by Charles Tatnall and James Longley the Company has today received a cash sum of £180,000.

Changes to Directors' interests in ordinary shares

The interests of the Directors in the issued share capital of the Company before and after the issue of the New Ordinary Shares is as follows:

Issue of Equity

Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Dealings in the New Ordinary Shares are expected to become effective on or around 5 February 2016. Following the issue of the New Ordinary Shares, the Company has 691,428,935 ordinary shares of 0.1 pence each in issue.

For further information, please visit www.plutuspowergen.com, or contact:

Notes to Editors

Plutus PowerGen plc is an AIM listed company focused on the development, construction and operation of flexible stand-by power generation sites in the UK. At present, the market dynamics for flexible power generation are positive as a result of the continued downward pressure on capacity available to National Grid to balance supply and demand, leading to their announcements about possible power shortages over the next few years.

Flexible Power generators such as PPG offer a viable and timely solution to the power capacity shortfall in the UK. To this end, PPG is initially focusing on delivering 200MW of capacity by the end of 2017 and currently has a project pipeline of potential development sites with over 700MW of power generation capacity.

PPG has a straightforward multi-revenue stream model with large and stable counter-parties and is using project/EIS funding through SPVs to finance construction of the generation assets. This structure has the benefit of limiting dilution to Company shareholders as the assets are financed and built.