FOR IMMEDIATE RELEASE                                                                                                            3 October 2023

Nanoco Group PLC

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

Foreign Currency Hedge of Second Tranche of Litigation Settlement

Further to the announcement on 3 February 2023, 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, is pleased to announce that it has signed an agreement to hedge the second tranche of litigation proceeds due to be received in February 2024. This secures a rate equivalent to the rate on settlement signing date.

The hedge means that Nanoco will receive £58.8m in return for selling $71.75m, which is the net receipt from the second tranche of litigation proceeds ($75m less withholding tax $3.25m). The hedge has no deposit and no margin collateral.

The hedge has a translation rate of GBP1:USD1.22, which is in line with the rate ruling on the day that the litigation settlement was signed.

Brian Tenner, Nanoco's CEO, commented:

"This hedge removes any uncertainty around the net GBP cash flows to Nanoco. Given the volatility around the foreign exchange markets, we felt this was an important step to take when the opportunity arose to secure a rate equivalent to the rate on settlement signing date. This significantly de-risks the return of capital to shareholders, which is expected to take place after the second tranche of proceeds is received by the company."

- Ends -

For further information, please contact:

Nanoco Group PLC:

Brian Tenner, CEO                                                                                                                  +44 (0) 1928 761 422

Liam Gray, CFO & Company Secretary                                                                                  

Peel Hunt (Joint Corporate Broker):

Paul Gillam                                                                                                                             +44 (0) 20 7418 8900

Richard Chambers

James Smith

Turner Pope Investments (Joint Corporate Broker):

Andrew Thacker                                                                                                                      +44 (0) 20 3657 0050

James Pope

MHP Communications:                                                                                                         

Reg Hoare                                                                                                                               +44 (0) 20 3128 8793

[email protected]

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.