Echo Energy : Early redemption / Cancellation / Delisting

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN FINANCIAL AND LEGAL ADVICE, INCLUDING IN RESPECT OF ANY TAX CONSEQUENCES, IMMEDIATELY FROM THEIR BROKER, BANK MANAGER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL, TAX OR LEGAL ADVISER.

Echo Energy plc

(incorporated under the laws of England and Wales)

(the "Issuer")

CONVERSION NOTICE

to eligible holders of its outstanding

EUR 20,000,000 Nominal Fixed Rate 2 Percent Redeemable Secured Notes 2032 (XS1614175567)

(the "Notes")

NOTICE IS HEREBY GIVEN that, pursuant to the process approved by virtue of an Extraordinary Resolution of the Noteholders dated 13 October 2022, 50% of the outstanding principal amount of the Notes (such 50% of the outstanding principal amount of the Notes being EUR 10,000,000), together with accrued interest thereon up to but excluding the Conversion Date (such accrued interest being EUR 2,231,232.88 and the total amount to be redeemed being EUR 12,231,232.88 (the "Redemption Amount")), will be converted to Ordinary Shares of the Issuer at a price of 0.45 pence per Ordinary Share on 25 November 2022 (the "Conversion Date").

Unless the context otherwise requires, capitalised terms used but not defined in this Notice shall have the meaning given in the trust deed dated 15 May 2017, as amended and/or supplemented from time to time (the "Trust Deed"), made between the Issuer and Apex Corporate Trustees (UK) Limited (formerly Capita Trust Company Limited) as trustee (the "Trustee"), the terms and conditions of the Notes (the "Conditions") or the Extraordinary Resolution, as applicable.

The Issuer shall issue and allot the relevant Ordinary Shares within 15 Business Days of the Conversion Date (the "Allotment and Issue Date") in respect of the Redemption Amount to each holder shown in the records of the Clearing Systems as a holder of the Notes at the close of business on the Clearing System Business Day before the Conversion Date.

Noteholders are hereby requested to submit their CREST account details (Participant ID and Member ID) to the Issuer by electronic instruction via the Clearing Systems on or before the Conversion Date and inform their custodians of the upcoming delivery of the Ordinary Shares. Noteholders are required to submit their instruction to the Clearing Systems on their total (100%) position, which will then be converted at the rate of 50% on the Conversion Date. Alternatively, Noteholders may elect to receive the relevant Ordinary Shares in certificated form, in which case the Noteholders will need to confirm to the Issuer, by electronic instruction submitted via the Clearing Systems on or before the Conversion Date, their name and postal address for delivery of the Ordinary Shares in certificated form.

This Notice is given by Echo Energy plc. Noteholders should contact the following for further information:

The Issuer

Echo Energy plc

Dated: 11 November 2022