European Green Transition entered into an exclusive option agreement (the "Option") to investigate the potential to develop a peatland carbon sink programme and in turn generate carbon credits (the "Carbon Credit Project") at the Altan farm in Donegal, Ireland ("Altan"). Altan is a c.1,370 acre site primarily comprising of blanket peatland located in county Donegal in the northwest of Ireland. Option offers EGT full, exclusive access to conduct additional due diligence on the proposed Carbon Credit Project over a 12-month period.

Agreement is in line with EGT's strategy to target green economy assets in Europe with revenue potential. EGT will conduct further diligence activities to ascertain the work required to commence the generation of carbon credits at Altan. During the due diligence phase, EGT will engage with all relevant stakeholders to ensure the project aligns with the Company's ESG standards.

Should EGT exercise the Option it would expect to monetise the project by generating revenue through carbon credits. EGT does not intend to acquire the land from the landowner, rather EGT intends to generate carbon credits through a revenue sharing model with the landowner, ensuring low capital expenditures in line with the Company's capital light approach. The Carbon Credit Project provides the potential for EGT to develop a business both generating and trading carbon credits.

The Company intends to replicate this revenue sharing model, building a portfolio of peatland carbon credit projects, similar to a number of successfully implemented projects in Scotland. EGT could extend this business totrading third party carbon credits outside of the Company's portfolio of carbon credit generating projects. Should the Company exercise the Option, any further agreement with Altan would be subject to, inter alia, the Company successfully agreeing terms, purchase price and entering into further documentation.

There can be no guarantee that the Option will be exercised.