This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

2 February 2022

Tekcapital Plc

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

Portfolio Company Update: Lucyd Ltd ("Lucyd")

Innovative Eyewear Inc. Announces Expansion of Ecommerce Channels with Key Retailers

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve peoples lives, is pleased to announce that portfolio company Lucyd's, Innovative Eyewear Inc. subsidiary, has been approved by DICK's Sporting Goods® to provide its Lucyd Lyte® smart eyewear on dickssportinggoods.com and by BestBuy.ca to place its products on Best Buy's Canadian ecommerce site.  Products will be available on both ecommerce platforms within the next 30 days.

DICK's Sporting Goods is the largest sporting goods retailer in the US and Best Buy® is one of the largest electronics retailers in North America.

Harrison Gross, CEO and cofounder of Innovative Eyewear, said "We are thrilled to launch our Lucyd Lyte products on Dicks.com and BestBuy.ca. We believe Lucyd Lyte eyewear is perfect for active lifestyles, since it allows you to enjoy music and calls handsfree without obstructing your hearing. We also believe it is a natural fit for those looking for the next big thing in fitness tech and/or eye protection from Dick's and Best Buy, two retailers whose influence over their respective markets cannot be overstated."

About Lucyd and Innovative Eyewear Inc.

Lucyd's mission is to Upgrade your Eyewear^® with advanced ergonomic smart glasses that are easy to use, fun to wear, and help you stay safely connected to your digital life. The Lucyd brand and IP portfolio are exclusively licensed to and operated by Innovative Eyewear, Inc. To learn more, or order Lucyd Lyte, please visit https://lucyd.co. 

Tekcapital currently owns 100% of the share capital of Lucyd Ltd and approximately 81% of the share capital of its U.S. operating subsidiary, Innovative Eyewear, Inc.

For further information, please contact:

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital or Lucyd's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Innovative Eyewear Inc., Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Innovative Eyewear Inc, Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.