30 May 2023

IGas Energy plc (AIM: IGAS)

("IGas" or "the Company")

Preferred Bidder for Manchester University NHS Foundation Trust - Wythenshawe Hospital Geothermal Scheme

IGas is pleased to announce that, as part of the five tenders submitted through the Carbon and Energy Fund (CEF) Framework in late 2022, GT Energy, IGas' geothermal business, has been selected by Manchester University NHS Foundation Trust (the Trust) as preferred bidder to deliver a geothermal heat solution for the Wythenshawe Hospital.

An Innovation Partnership between GT Energy, the Trust and the CEF will be created to provide a framework for the parties to work together through the project development phases.

Further announcements will be made about the details and timeline of the project once the partnership has been formalised.

About the Carbon and Energy Fund

The Carbon and Energy Fund (CEF) has been specifically created to fund, facilitate and project manage complex energy infrastructure upgrades for the NHS and wider Public Sector.

With a proven track record of more than 60 projects and in-depth experience of procurement, engineering, legal and finance, the CEF is the organisation to successfully guides Public Sector clients through the complex processes involved.

For further information please contact:

IGas Energy plc                 Tel: +44 (0)20 7993 9899

Ann-marie Wilkinson, Chief Communications Officer

Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970

Virginia Bull/Chris Sim

Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

Vigo Consulting                Tel: +44 (0)20 7390 0230

Patrick d'Ancona/Finlay Thomson/Kendall Hill