Ultimate Beneficial Owner Notification

6 October 2025

EQTEC plc

("EQTEC", the "Company" or the "Group")

Ultimate Beneficial Owner Notification

EQTEC plc (AIM:EQT), a leading licensor and innovator of syngas technology for clean conversion of waste into sustainable energy and biofuels, has been notified that Mr. Didier Casimiro is now the ultimate beneficial owner of Compact WTL Tech Limited ("CWTL"), which has now changed its name by resolution to Rebel Ion Limited ("Rebel Ion"). Mr Casimiro is therefore now indirectly interested in 32.14% of the issued share capital of EQTEC through Rebel Ion's shareholding in the Company.

The Company was notified that, on 3 October 2025 Mr, Casimiro executed a transaction with CWTL which has resulted in him becoming the majority shareholder in the now renamed CWTL holding 99.00% of its share capital. CWTL, as announced on 10 April 2025, is also in the process of taking full ownership of the Company's secured debt.

Didier Casimiro, a Belgian citizen resident in the United Arab Emirates, is a seasoned energy executive with over 25 years of leadership at BP plc (LSE:BP), TNK-BP and PJSC Rosneft Oil Company ("Rosneft"). He has directed global operations in refining, petrochemicals, trading, logistics and corporate finance, while leading multibillion dollar transactions. Rising to First Vice President of Rosneft, he managed corporate treasury, strategy, risk and investor relations, and engaged directly with governments, banks and international institutions.

Mr Casimiro has been a strong advocate for the energy transition, driving initiatives in carbon footprint management, carbon capture, efficiency and renewables integration. Now as a significant strategic investor in EQTEC plc, he combines deep Oil and Gas expertise, international networks and a proven record of strategic execution, positioning him as a highly valuable partner in supporting EQTEC's leadership in proprietary syngas and sustainable fuels solutions.

Mr Casimiro was previously included on the sanctions list by the UK and US Governments. Mr. Casimiro has advised the Company that his inclusion on the sanction list by the US and UK Governments was removed on 28 July 2023 and 15 November 2024 respectively and he is therefore no longer sanctioned by either the US or UK Government. The US and UK sanction position (which dates from 18 February 2020 and 2 August 2022 respectively) was due to his employment with Rosneft. Mr. Casimiro does however remain subject to sanctions in Australia, Canada and Ukraine. Having voluntarily resigned from Rosneft on May 12 2022, he is in discussions with the relevant regulatory authorities with a view to having the remaining sanctions lifted. 

The Company has proactively initiated discussions with Mr Casimiro, involving the existing placing option with Rebel Ion, the acquisition of its secured debt and a possible appointment to the Board of EQTEC and will provide further updates as appropriate. 

ENQUIRIES  

About EQTEC 

EQTEC is one of only a few circular economy technology providers able to address the dual challenges of growing quantities of global waste and the growing demand for energy and biofuels. EQTEC cleanly converts waste into a range of valuable commodities that support new energy and industrial infrastructure. With one of the world's most experienced thermochemical conversion technology and engineering teams, EQTEC provides bespoke waste management and new energy solutions through best-in-class innovation, infrastructure engineering and value-added services for developers, owner-operators and industrials.

EQTEC's end-to-end process solutions are in demand from around the world with highly efficient equipment that is modular and scalable from three tonnes of waste per hour. Its versatile solutions process dozens of varieties of feedstock, including plastics, mixed municipal waste, industrial waste and other non-recyclables, all with no hazardous or toxic emissions, producing a wide range of valuable commodities including synthesis gas ("syngas") electricity, heat and steam, synthetic natural gas, hydrogen, liquid fuels or other chemicals.

The Company is quoted on the London Stock Exchange's Alternative Investment Market (AIM) (ticker: EQT) and the London Stock Exchange has awarded EQTEC the Green Economy Mark, which recognises listed companies with 50% or more of revenues from environmental/green solutions.

Further information on the Company can be found at www.eqtec.com.