Results of PrimaryBid Offer

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

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29 November 2023

Molten Ventures plc

(“Molten” or the “Company”)

Results of PrimaryBid Offer

Molten Ventures plc (LON: GROW, Euronext Dublin: GRW) announced on 27 November 2023 the launch of a fundraise comprising a placing (the "Placing") and subscription (the "Subscription") in conjunction with an offer via PrimaryBid (the "PrimaryBid Offer") (together the "Fundraise") alongside an Offer for Subscription (together with the Fundraise, the "Issue").

The Company is pleased to announce that the PrimaryBid Offer successfully completed and closed at 3.00 p.m. yesterday. A total of 888,888 New Ordinary Shares have been subscribed for at a price of 270 pence per New Ordinary Share (the "Issue Price") pursuant to the PrimaryBid Offer.

Following the successful closing of the PrimaryBid Offer, the Company has raised gross proceeds of £57.4 million via the Fundraise.

A total of 21,259,258 New Ordinary Shares have been subscribed for at the Issue Price pursuant to the Fundraise, representing approximately 13.9 per cent. of the Company's existing issued share capital.

The latest time for applications under the Offer for Subscription is 11.00 a.m. on 12 December 2023.

The Issue is conditional, inter alia, on shareholders approving the issue of the New Ordinary Shares at a discount to the last reported NAV per Ordinary Share (the "Resolution") at the General Meeting to be convened at 10.00 a.m. on 14 December 2023 (the "General Meeting"). Further details on the Resolution and the General Meeting can be found in a Circular which is available to view on the Company's website at https://investors.moltenventures.com/investor-relations/plc/documents.

Applications will be made to (i) the FCA for admission of the New Ordinary Shares to be issued under the Issue to the premium listing segment of the Official List; (ii) the London Stock Exchange for the admission of the New Ordinary Shares to be issued under the Issue to trading on the Main Market; (iii) Euronext Dublin for admission of the New Ordinary Shares to be issued under the Issue to a secondary listing on the Euronext Dublin Daily Official List; and (iv) Euronext Dublin for the New Ordinary Shares to be issued under the Issue to be admitted to trading on the Euronext Dublin Market (together, "Admission"). The New Ordinary Shares will, when issued, be credited as fully paid and rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid following Admission.

Subject to approval by shareholders of the Resolution at the General Meeting, it is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 15 December 2023.

Capitalised terms used in this announcement which have not been defined have the meanings given to them in the announcement made by the Company on 27 November 2023 announcing the proposed Placing, Subscription, PrimaryBid Offer and Offer for Subscription, unless the context provides otherwise.

Enquiries:

Important Information

This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This Announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

This Announcement and the information contained herein, is restricted and is not for publication, release or distribution, directly or indirectly, in whole or in part, in or into Australia, Canada, the Republic of South Africa, Japan or any other jurisdiction in which such publication, release or distribution would be unlawful.  Further, this Announcement is for information purposes only and is not an offer of securities in any jurisdiction.