FOR IMMEDIATE RELEASE                                                                                                            23 August 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR").

Nanoco Group PLC

("Nanoco", the "Group", or the "Company")

Litigation Update - Funded Law Suit Filed in Germany

Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, announces an update to its litigation against Samsung for the willful infringement of the Group's IP.

The Company has filed a law suit against Samsung in Germany based on a sister patent to one of the patents in the US litigation. Germany is one of the largest European markets for the sale of high-end televisions. This highly focused approach will allow us to pursue the litigation more quickly and at a lower cost. The Funder for the US litigation has agreed an expanded budget on similar commercial terms as the existing funding.

The Group is actively reviewing options for similar litigation in other territories where its unique and world leading technology has been patented and where Samsung is believed to have significant sales.

Brian Tenner, Chief Executive Officer of Nanoco Group plc, said:

"We have been clear from the beginning that Nanoco's IP portfolio is global in nature and will be defended as such. We continue to benefit from the support of our Funder and of the lead legal team at Mintz. Their stance reflects their confidence in the strength of our case globally.

"Expanding our action at this time reflects our confidence in the case in the US. It is also noteworthy that the standard remedy under German law is for an injunction and removal of infringing products from sale which would effectively stop Samsung from selling infringing products unless a financial settlement was agreed between the parties. The litigation process in Germany also tends to be faster which will also help in our pursuit of fair value for shareholders."

- Ends -

For further information, please contact:

Nanoco Group PLC:

Brian Tenner, CEO                                                                                                                                 +44 (0) 161 603 7900

Liam Gray, CFO                                                                                                                                     +44 (0) 161 603 7900

Turner Pope Investments (Joint Corporate Broker):

Andrew Thacker                                                                                                                                  +44 (0) 20 3657 0050

James Pope

Peel Hunt LLP (Joint Corporate Broker):

Paul Gillam                                                                                                                                            +44 (0) 20 7418 8900

James Smith

MHP Communications:                                                                                                                       +44 (0) 203 128 8570

Reg Hoare

Pete Lambie

[email protected]

The person responsible for arranging for the release of this announcement on behalf of Nanoco is Liam Gray, Company Secretary.

MAR

This Announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018.  Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

FORWARD LOOKING STATEMENTS

This announcement (including information incorporated by reference in this announcement) and other information published by Nanoco may contain statements about Nanoco that are or may be deemed to be forward looking statements.  Such statements are prospective in nature.  All statements other than historical statements of facts may be forward looking statements.  Without limitation, statements containing the words "targets", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "estimates", "projects" or "considers" or other similar words may be forward looking statements.

Forward looking statements inherently contain risks and uncertainties as they relate to events or circumstances in the future.  Important factors such as business or economic cycles, the terms and conditions of Nanoco's financing arrangements, tax rates, or increased competition may cause Nanoco's actual financial results, performance or achievements to differ materially from any forward looking statements.  Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements, which speak only as of the date hereof.  Nanoco disclaims any obligation to update any forward looking or other statements contained herein, except as required by applicable law.

Notes for editors:

About Nanoco Group plc

Nanoco (LSE: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 - 100 nm. Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots and other nano-materials. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display, Sensor and Electronics markets. An interesting property of quantum dots is their absorption spectrum. Nanoco's HEATWAVE™ quantum dots can be tuned to absorb light at different wavelengths across the near-infrared spectrum, rendering them useful for applications including image sensors. Another interesting property of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size. Nanoco's CFQD® quantum dots are free of cadmium and other toxic heavy metals, and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.

Nanoco was founded in 2001 and is headquartered in Manchester, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.

Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com.