ARE THE ISSUER HAS ENTRED ENTRED INTO A TERM SHEET AGREEMENT

The Management Board of Hipower Energy S.A. (hereinafter referred to as the
”Issuer”) informs that on May 6, 2024, it concluded an Term Sheet Agreement (hereinafter:”Agreement”) with the company HYDROGENIUM PROSTA SPÓŁKA AKCYJNA (hereinafter ”Hydrogenium”) with its registered office in Lublin, KRS no. 000097016. Under the signed agreement, the Issuer will conduct a technological and legal audit of the biomass plasma gasification technology held by Hydrogenium. Under the signed agreement, the Issuer will conduct a technological and legal audit of the biomass plasma gasification technology held by Hydrogenium. The parties agreed that after the exclusion of the executive audit, the Issuer will acquire, for PLN 30 000, 300 shares of Hydrogenium, constituting 30% of the share capital and entitling to 30% of votes at the shareholder`s meeting. The share transaction will be completed no later than May 30, 2024. Hydrogenium owns IP for biomass gasification technology in a plasma environment. The technology allows for rapid conversion of biomass into clean synthesis gas without tar, with a high content of over 50% hydrogen and over 30% carbon monoxide.