Update on proposed acquisition of Dunbar Energy

30 March 2026

Electric Guitar PLC

("Electric Guitar" or the "Company")

Update on proposed acquisition of Dunbar Energy Inc.

Further to the Company's announcement of 23 December 2025, the Board of Electric Guitar PLC (LSE: ELEG) (the "Board") provides an update on its proposed acquisition of Dunbar Energy Inc. ("Dunbar").

The Board is continuing discussions regarding the Dunbar acquisition, although this has been delayed by the changing nature of Dunbar's asset base and structuring matters as Dunbar continues to develop its strategy in the USA of behind-the-meter (BTM) power from gas wells to local intensive compute sites. The Board continues to review the Dunbar acquisition and further announcements will be made in due course.

While discussions having been continuing with Dunbar, the Board has been in negotiations in relation to the potential acquisition of interests in other oil and gas assets in the USA, to support the Company's stated mission, and is seeking to enter into binding terms as soon as it is able to.

The Ordinary Shares remain suspended from trading on AIM in the meantime.

The Company will provide further updates as appropriate as matters progress.