IQ-AI Ltd

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

Director Dealings and Conversion of Convertible Loan Notes

IQ-AI Ltd has received convertible loan note conversion notices from Trevor Brown, the CEO of IQ-AI, and Micheal Schmainda, a director of IQ-AI. Trevor Brown is converting a total of £60,000 convertible loan notes and associated interest, issued in May 2019, at a price of 1.5 pence, into 5,111,233 Ordinary Shares. Michael Schmainda is converting a total of £18,500 convertible loan notes and associated interest, issued in March 2019, at a price of 2 pence, into  1,193,681 Ordinary Shares which will be issued to his wife, Kathleen Schmainda (together the "CLN Shares").

Following the above transactions, Trevor Brown will hold 45,761,083 Ordinary Shares, representing approximately 23.23 per cent. of the Company's enlarged issued share capital. In addition, Kathleen Schmainda, who is also a consultant and existing shareholder in IQ-AI, will hold 10,302,081 Ordinary Shares, representing approximately 5.23 per cent. of the Company's enlarged issued share capital.  

IQ-AI has no outstanding convertible loan notes following the above conversions. 

An application will be made for 6,304,914 CLN Shares to be admitted to the Official List of the UK Listing Authority by way of a Standard Listing ("Admission") and it is expected that Admission will become effective and that dealing in the CLN Shares will commence on or around 8am on 19 January 2024. The CLN Shares will rank pari passu with the existing ordinary shares of the Company.

Following Admission, the Company will have 196,976,456 ordinary shares of 0.01p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company will be 196,976,456.

The above figure of 196,976,456 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

--ENDS-

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

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About Imaging Biometrics® LLC:  IB is a wholly owned subsidiary of IQ-AI Limited, (LON: IQAI), and focuses on delivering quantitative imaging platforms and therapeutics that transform how clinicians diagnose and treat patients more efficiently and effectively. For more information about Imaging Biometrics, visit the company's website atwww.imagingbiometrics.com. Follow IB on Twitter, @IQAI_IB.

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