Company Announcements

16 April 2024

Ashtead Technology Holdings plc

("the Company")

Issue of shares to EBT

Ashtead Technology (AIM: AT.), the international subsea equipment rental and solutions specialist, announces that it has allotted and issued 365,919 ordinary shares of 5 pence each in the capital of the Group (the "New Shares") to the Ashtead Technology Holdings plc Employee Benefit Trust ("EBT"), in order to satisfy future exercises of awards granted to participants under the rules of the Group's Long Term Incentive Plan ("LTIP").

The EBT now holds an aggregate of 575,541 Ordinary Shares, representing 0.7 per cent. of issued share capital of the Company.

In relation to above, applications have been made to the London Stock Exchange for admission to trading of the New Shares on AIM (the "Admission"). Admission is expected to take place at 8.00 a.m. on Wednesday 17 April.

Following Admission of the New Shares the Company will have 80,313,838 Ordinary Shares of 5 pence each in issue. There are no shares held in treasury. Therefore, following Admission of the New Shares the total number of voting rights in the Company will be 80,313,838 (the "Voting Rights Figure"), and this Voting Rights Figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their voting rights interest, or a change to that interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

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Notes to editors:

Ashtead Technology is a leading subsea equipment rental and solutions provider for the global offshore energy sector.  Ashtead Technology's specialist equipment, advanced-technologies and support services enable its customers to understand the subsea environment and manage offshore energy production infrastructure.

The Company's service offering is applicable across the lifecycle of offshore wind farms and offshore oil and gas infrastructure.

In the fast-growing offshore wind sector, Ashtead Technology's specialist equipment and services are essential through the project development, construction and installation phase. Once wind farms are operational, Ashtead Technology supports customers with inspection, maintenance and repair ("IMR") equipment and services.  In the more mature oil and gas sector, Ashtead Technology's focus is on IMR and decommissioning.

Headquartered in the UK, the Group operates globally, servicing customers from its twelve facilities located in key offshore energy hubs.