9 May 2025

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company", or, together with its subsidiaries, the "Group")

Convertible Loan Note Fundraise of £200,000

Silverbullet, a provider of AI driven digital transformation services and products, is pleased to announce that it has raised £200,000 via the issue of convertible loan notes (the "Convertible Loan Notes" or "CLNs") under the terms of its existing convertible loan instrument announced on 1 June 2023, save for the conversion price being varied to £0.36p. Further details regarding the terms of the CLN are set out below.

The CLNs will provide the Company with additional working capital to support the significant growth in sales of 4D and its services offering.

Ian James, Chief Executive Officer of Silverbullet, commented:

"We are pleased to announce this convertible loan note funding, which provides the Company with further working capital to support the accelerating demand from both new and existing clients who are choosing Silverbullet to enhance their data and technology infrastructure."

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Further information on the the terms of the CLN

·    The CLNs have a term of three years and attract interest at a rate of 12% per annum, payable from the date of issue either as, at the Company's option:

-  8% per annum paid monthly in cash, and 4% payable via the issue of additional Convertible Loan Notes as payment in kind; or

-  12% payable via the issue of additional Convertible Loan Notes as payment in kind.

·    The CLNs are unsecured and convertible into new ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of £0.36 per new Ordinary Share (the "Conversion Price").

·    The CLNs are convertible, in part or in full, at the option of the noteholders from the date of issue until the final repayment date, being the third anniversary of the date of issue. In addition, the CLNs are automatically convertible on a change of control of the Company, subject to certain conditions.

·    If not repaid, redeemed or converted by the maturity date, the CLNs are repayable in cash in full together with accrued interest.

·    The Company may redeem the CLNs in cash at any time at 115% of par. Noteholders will have 15 business days to respond with a conversion notice, which would render the redemption offer null and void and cause the relevant CLNs to convert at the Conversion Price.

·    If converted in full at the Conversion Price, the CLNs will represent approximately 3.19% of the Company's then enlarged issued share capital (excluding any impact of payment-in-kind interest and assuming no other Ordinary Shares are issued prior to conversion).

It is noted that the maximum number of new Ordinary Shares that may be issued on conversion of the CLNs, including the potential impact of additional notes issued as payment in kind of interest, is 780,516 Ordinary Shares.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

About Silverbullet

Silverbullet's proprietary 4D AI advertising solution is designed to help advertisers target consumers in a "privacy-first world". The product is a natural extension to its existing services business which already serves a blue-chip client base such as a leading UK hospitality brand and a Global Brewing company, amongst many others.

Headquartered in London, the Group employs 85+ data specialists across five regions across the globe, including, the UK, Italy, Australia, USA and Latin America. The Group continues to look at other opportunities for expansion worldwide.

The Company has an established and growing solutions business with significant accumulated industry experience and a proven track record of delivering strategic digital transformation and activation services to its clients. The majority of the Board have held senior positions at global software companies and have significant industry experience across data engineering, SAAS product development and marketing.