Joint Development Agreement with European Customer

FOR IMMEDIATE RELEASE                                                                                               12 January 2024

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")

Joint Development Agreement ("JDA") with the European Customer

Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials emanating from its technology platform, today announces that it has signed a Statement of Work with significant joint development activities (the "JDA") with STMicroelectronics, an important European electronics customer ("ST").

The JDA is a two year programme to optimise the performance of a second generation sensing material to be developed by Nanoco. The new JDA will include revenue for services that Nanoco will soon be able to offer in the extended Runcorn facility, particularly in device testing and analytical services.

If all of the technical milestones in the two years of the JDA are achieved, the next step in the process will be to scale the new material into an industrialised process capable of supporting high volume applications.

The JDA helps to underpin the Board's expectations for non-license fee income in FY24, which are in line with FY23. The JDA is also expected to deliver additional sales of test materials during FY24 and FY25.

Brian Tenner, Nanoco's CEO, commented:

"The Group's significantly improved financial position allows us to proactively invest to accelerate development of new materials and new service capabilities. The new 200mm wafer device capability is one such example. This expanded range of services has created a compelling offering for ST who will be the first to take advantage of these new capabilities in the future.

"Further production orders received for first generation sensing materials will be in parallel with this JDA. ST's commitment to developing a second generation material, emphasises Nanoco's ability to be a robust partner in complex electronics supply chains."

- Ends -

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

MAR

The information contained within this announcement is considered by the Company to contain inside information for the purposes of UK MAR.  Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

For further information, please contact:

Nanoco Group PLC:

Brian Tenner, CEO                                                                                                                                  +44 (0)1928 761 404

Liam Gray, CFO & Company Secretary

Cavendish Capital Markets Limited (Financial Adviser & Joint Corporate Broker):

Ed Frisby / George Lawson (Corporate Finance)                                                                              +44 (0) 20 7220 0500

Tim Redfern / Charlie Combe (Corporate Broking)

Jasper Berry (Sales)

Turner Pope Investments (Joint Corporate Broker):

Andrew Thacker                                                                                                                                      +44 (0) 20 3657 0050

James Pope

MHP:                                                                                                                                                         +44 (0) 203 128 8100

Reg Hoare

Matthew Taylor

Christian Harte

[email protected]

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) is a nano-material production company, specialising in the production of its patented cadmium free quantum dots (CFQD®) and other patented nano-materials for use in the electronics industries.

Founded in 2001 and headquartered in Runcorn, UK, Nanoco continues to build out a world-class, patent-protected IP portfolio alongside the scaling of the production for commercial orders.

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. 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 Sensor, Electronics and Display markets. 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 display applications. 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 cameras and image sensors.

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.

visit: www.nanocotechnologies.com