19 February 2024

DG Innovate plc

("DG Innovate" or the "Company")

Exercise of Warrants

DG Innovate (LSE: DGI), the advanced research and development company developing pioneering solutions in sustainable mobility and energy storage, announces that it has received a notice of exercise of broker warrants to subscribe for a total of 16,200,000 new ordinary shares of 0.01 pence each in the capital of the Company ("Ordinary Shares") (the "New Ordinary Shares"). The New Ordinary Shares are being issued at a price of 0.05 pence per share, for a total consideration to the Company of £8,100 and relate to warrants issued as part of the Company's placing announced on 22 June 2023.

The New Ordinary Shares will rank pari passu with the existing Ordinary Shares and application has been made for the New Ordinary Shares to be admitted to the Official List of the FCA and to trading on the Main Market of the London Stock Exchange ("Admission").  It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 22 February 2024.

Total Voting Rights

Upon Admission, the Company's issued share capital will consist of 10,258,748,440 Ordinary Shares with one voting right each. The Company holds 357,142 Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 10,258,391,298.  With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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About DG Innovate 

DG Innovate is an advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and storage, using abundant materials and the best engineering and scientific practices. DG Innovate is currently developing its products alongside a number of major manufacturers across the transportation and energy sectors, research institutions and the UK Government, and has filed numerous patents worldwide. DG Innovate's current research and development activities are broadly split into two areas, focusing on novel electric motor technologies and energy storage solutions. Its two main products are: 

- Enhanced Drive Technology (EDT) - High efficiency, cost-effective electric motors + power electronics; and 

- Enhanced Battery Technology (EBT) - Sodium-ion batteries offering a sustainable energy storage solution at similar/greater energy density to incumbent technologies at a lower cost, increased safety with lower environmental footprint.  

Further information may be found at: https://www.dgiplc.com