i(x) Net Zero PLC

("i(x) Net Zero" or the "Company")

Corporate Update

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on Energy Transition and Sustainability in the Built Environment, provides the following update on its portfolio companies, which continue to perform in line with the Board's expectations, as well as the Company's own activities.

Despite challenging market conditions and the economic volatility that has unfolded since the Company's listing in February 2022, the resilience shown by the Company's investee companies demonstrates the continuing global trend towards decarbonisation and the net zero energy transition, with the backing of government legislation and corporate commitments. i(x) Net Zero's investee companies continue to be well positioned for long-term sustainable growth and value creation.

Pär Lindström, CIO of i(x) Net Zero, commented: "The institutional marketplace is increasingly  committed to deploying capital into opportunities that advance energy transition and decarbonise the built environment which is being accelerated by government action. In the US, the Government is to enact legislation that will funnel billions of dollars in tax incentives towards renewable power, battery development and carbon capture technology while in the UK, the Jet Zero Council's public-private partnership promotes the development of production facilities for sustainable aviation fuels.

"As more investors follow i(x) Net Zero's lead and invest in sustainable opportunities to fight climate change, we are excited by the number of new businesses we are seeing within the space."

1.   Energy Transition

Rising energy prices and the inflationary environment have been the catalyst for short-term volatility in the energy markets. Therefore, it has become more apparent than ever that companies with the ability to supply sustainable transportation fuels and alternative power sources, such as wind and solar, are important providers of the solution to the current energy crisis.

WasteFuel Global LLC, is a U.S. next-generation waste-to-fuels company that seeks to use proven technologies to address the climate emergency and revolutionise mobility by creating renewable transportation fuels. It exemplifies the opportunity for long-term, scalable businesses that address the challenges faced across the global economy. The company is well capitalized and positioned, with strategic investors and partners to generate significant future growth opportunities.

WasteFuel's strategy is to secure feedstocks of municipal solid waste and agricultural waste in strategic locations for conversion into renewable transportation fuels including green methanol, renewable natural gas and sustainable aviation fuel. The WasteFuel Marine Division is developing projects to produce renewable methanol as a marine fuel at strategic locations with partners including Maersk.

Carbon Engineering Ltd is a British Columbia (Canada) corporation that deploys a proprietary Direct Air Capture (DAC) technology that captures carbon dioxicde (CO2), the primary greenhouse gas responsible for climate change, directly out of the atmosphere. With its DAC and carbon-to-value proposition, it is the next generation of industrial scale decarbonisation. The company has a clear path to global opportunity and is focused on partnerships. Its strategic initiative with Occidental Petroleum's Low Carbon Ventures and 1PointFive (its subsidiary), has a goal to build and operate 70 DAC facilities by 2035, each with an expected capacity of up to 1 million tonnes per year.

Context Labs, B.V. an impact software company, continues to grow its customer base through its Decarbonization-as-a-Service^TM (DaaS^TM) offering. It recently announced a platform partnership with Encino Environmental Services, LLC, a ground and mid-air-based continuous monitoring technology, along with SATLANTIS, a microsatellite business, to accelerate the verification of carbon emissions measurement with greater accuracy. Another recent announcement is its multi-year partnership with Williams (NYSE: WMB), a Fortune 500 American energy company with operations across the natural gas value chain.  Context Labs continues its trajectory to acquire clients that wish to fulfill their decarbonisation plans.

Enphys Management Company, LLC. (NYSE: NFYS), i(x) Net Zero's partnership with the Latin America Investment Group ("LAIG"), continues to pursue merger opportunities as announced at its listing. Its strategy is to create a regional champion in the Americas for alternative energy through the aggregation of existing, cash-flow positive wind and solar assets. Latin America provides a rapidly growing energy market where alternative energy production is often the lowest cost source. This provides Enphys the opportunity to execute at scale and become a significant publicly traded leader in energy transition.

2.   Sustainability in the Built Environment

The real estate and construction industries are experiencing inflationary pressures, rising interest rates and supply chain challenges, all of which hasten the sectors' need for disruptive change to reduce and manage costs. The persistent lack of supply of affordable rental housing and societal demands to reduce the carbon footprint of the built environment remain at the foundation of i(x) Net Zero's investment thesis.

MultiGreen Properties, LLC, is a Delaware limited liability company that is i(x)'s attainable and sustainable housing platform. The company is delivering on its mission to provide attainable, tech-enabled rental apartments in supply-constrained US markets, such as Phoenix, Dallas and Salt Lake City. It is executing on its pipeline of developments at scale with 1,106 units currently under construction. ViaVerde, its multi-phase development in Albuquerque, New Mexico, is progressing with Phase I leasing, due to commence in October 2022, with demand already overpacing supply. A groundbreaking in September 2022 is scheduled for Phase II.

Sustainable Living Innovations (SLI), is a building technology and product development company producing high-performance panelized buildings. SLI continues to capture market share as a leader in delivering net zero buildings at scale. Its factory-assembled and cost-effective steel panel technology addresses both the inflationary pressure on material costs and supply chain issues. SLI is due to complete its 15-storey apartment complex in Seattle ready for occupancy in early 2023. This will be the world's first multi-family tower designed to meet the net zero energy criteria set by the International Living Future Institute's Living Building Challenge. Over the next 12 months, SLI is planning to expand its assembly plant locations on the West Coast of the US, eventually moving east to serve additional markets. As announced in May 2022, SLI's US$53M Accelerated Growth Round in which i(x) Net Zero participated, will allow the company to expand into other US markets. i(x) Net Zero is collaborating with SLI on potential international expansion opportunities.

Steve Oyer, CEO of i(x) Net Zero, commented: "At i(x) Net Zero, we continue to be committed to our investment strategy and are emboldened by the success and strength of our underlying investee companies. The Company's first few months as a public company have crystalised further the need to provide investors transparent access to ESG investing at scale in a public market forum. Even with the challenges of the current macroeconomic and political environment, each of our portfolio companies represents a long-term opportunity for investors who wish to align their values with their investments."

The Company plans to announce its unaudited interim results for the 6 months ended 30 June 2022 in late-September 2022.

For further information visit https://ixnetzero.com/ or contact:

Notes to Editors

About i(x) Net Zero PLC

i(x) Net Zero PLC is an AIM quoted investing company that provides its shareholders the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.

In accordance with its belief that the world's biggest problems are also the biggest market opportunities, i(x) Net Zero focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment. The Company uses a multi-strategy investment approach, providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) Net Zero has invested in biofuels, direct air capture (carbon removal), renewable energy, sustainable workforce housing and net zero energy construction technology.

i(x) Net Zero is a provisional signatory to the UN Principles for Responsible Investing. The Company has received the London Stock Exchange's Green Economy Mark.