From Blueprint to Reality 2026

1 Early stage 2 Infrastructure development 3 Industry 4 Hydrogen productionCluster administration Lending consortium Devex2 Crédit Agricole4Encyclis: Capex Eni Over £2 bn project financing+20 £33 m grantLead +5 priority emitters1 Hydrogen pipelineUnderground hydrogen storageCO2 transport & storage Waste-to-energy 90% ownership10% ownership2024 2021 £21.7 bn funding3KfW IPEX-Bank: £100 m Gas-fired power stationFID – Pending FID – PendingUnited Living: £250 m onshore platformRossetti Marino: £240 m offshore platformSaipem: £440 m compres- sion stationTrack 1 funding recipientTrack 1 funding recipient Cement plant BECCS facilityWorley & MHI:5 FEED6Heidelberg Materials: Capex Technip Energies: FEEDUniper Capex MHI:5 CC tech Evero Capex ENKA: EPC7 EET CapexFID – 2025 FID – 2025 Track 1 funding recipientFID – Pending JM:8 production technologyKent: FEED Public capital Private capital Announcement of intent Incentives ContractHyNet North West – financing blueprint FIGURE 7 Notes: 1. Priority emitters: EET/Essar, Encyclis, Evero, Heidelberg Materials and Uniper. 2. Devex = development expenditure. 3. To be committed over 25 years for the first two “Track-1” clusters, with £9.4 billion earmarked for CCUS projects by 2029. 4. Sole financial advisor, mandated lead arranger & hedging bank. 5. MHI = Mitsubishi Heavy Industries. 6. FEED = front-end engineering design. 7. EPC = engineering, procurement and construcuon. 8. JM = Johnson Matthey. From Blueprint to Reality: A Stronger Business Case for Shared Energy Infrastructure 22