18 August 2023

IQ-AI Ltd

("IQ-AI" or the "Company")

Update on Collaboration Agreement with Mayo Clinic

Further to the RNS dated 8 February 2022, IQ-AI Ltd (LSE: IQAI, OTCQB: IQAIF) announces that the collaboration agreement signed with the Mayo Clinic for the development of IB Trax™ has concluded. The working relationship with the Mayo Clinic remains unchanged and will continue. As a corollary of the conclusion of the agreement, and in the spirit of the long-standing and continuing relationship between both parties, The Mayo Foundation has reverted the 396,241 shares previously issued to them per the terms of the agreement, and the Company has agreed with its Broker, Peterhouse Capital, to sell these shares in the market and to donate the entirety of the proceeds to charity.

--ENDS--

The Directors of the Company accept responsibility for the contents of this announcement.

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