Results of General Meeting and Tender Offer Update

Legal Entity Identifier: 213800RAR6ZDJLZDND86

23 February 2026 

Impax Environmental Markets PLC

Results of General Meeting and Tender Offer Update

On 16 January 2026, the Board of Impax Environmental Markets plc (the "Company") announced that it would put forward proposals for the Company to offer Eligible Shareholders a cash exit by way of a tender offer for up to 100 per cent. of their Shares in the Company at close to NAV per Share (the "Continuation Tender Offer") and in the event that the Continuation Tender Offer did not proceed that it would put forward a second tender offer, also for up to 100 per cent. of the Company's share capital, to be approved by way of an ordinary resolution (the "Exit Tender Offer"). On 26 January 2026 the Company published a circular in connection with the proposed Continuation Tender Offer.

The Company announces that the special resolution (the "Resolution") put forward at its general meeting ("GM") held earlier today to approve the Continuation Tender Offer was passed by shareholders.

However, the Board reiterates that the Continuation Tender Offer is conditional on the election by Saba Capital Management, L.P. ("Saba") to tender all or materially all of the ordinary shares in the Company to which it is beneficially entitled. The Board notes that at the time of publication of the circular, Saba had indicated that it may not support the Continuation Tender Offer. The Board notes that it has no reason to believe Saba has changed its position. A further update as to the Continuation Tender Offer will be made on or around 27 February 2026.

The Resolution was voted on by way of a poll and the results are shown in the table below:

On a poll, shareholders are entitled to one vote per share and there are no restrictions on those voting rights. Where shareholders appointed the Chairman of the GM as their proxy with discretion as to voting, their votes were cast 'for' the Resolution and their shares have been included in the 'In Favour/Discretionary' column. A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'for' and 'against' the relevant Resolution.

On the record date for voting at the GM, the Company's issued share capital was 305,623,539 ordinary shares. The Company was holding 115,212,960 of these shares in Treasury. Therefore, the total number of ordinary shares with voting rights in the Company was 190,410,579.

The results of the poll votes will shortly be available on the Company's website at: www.iemplc.co.uk. The Resolution will also be made available on the National Storage Mechanism shortly. The full text of the Resolution is contained in the Notice of General Meeting which was published on 26 January 2026 (the "Circular"). 

The Circular is available for viewing at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Terms used but not defined in this announcement shall have the meanings given to them in the Circular.

Enquiries:

Impax Environmental Markets PLC

Glen Suarez, Chairman, via Winterflood

+44 (0)20 3100 0000

Winterflood Securities Limited

Corporate Broker

Joe Winkley / Neil Morgan / Rose Ramsden

+44 (0)20 3100 0000

Camarco (media enquiries)Billy Clegg / Jennifer Renwick

[email protected] 

+44(0)203 757 4980

Juniper Partners Limited

Corporate Secretary to Impax Environmental Markets plc

+44 (0)131 378 0500