28 June 2023

Tekcapital Plc

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

Innovative Eyewear, Inc. Announces Partnership with PRIVATO Duty Free

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group announces that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, has announced a new retail partnership with PRIVATO Duty Free, a provider of travel luxury goods (formerly Bulldog Duty Free).

As part of the partnership, PRIVATO will be creating a Lucyd Eyewear retail showcase in seven of the company's airport-based locations, featuring a number of Lucyd styles and the company's new modular LCD retail display that acts as an always-on, automated salesperson for Lucyd Eyewear. We anticipate the complete roll-out in Q3 2023.

Photo courtesy of Innovative Eyewear Inc.

"Lucyd Eyewear makes an excellent product for travelers, since it allows you to hear music, audio content and notifications in an open-ear format, while maintaining full awareness. Additionally, the ability to use ChatGPT through Lucyd Eyewear via the Lucyd app provides powerful AI assistance which many travelers need, including real-time translations and the ability to learn about significant points of interest in any city worldwide. Any vacation or business trip can be made a bit more convenient and enjoyable with Lucyd Eyewear, and we are pleased to offer it through our new partner PRIVATO at several leading airports," said Harrison Gross, CEO of Innovative Eyewear.

"We are always seeking to bring our clients the latest innovations in travel goods and luxury retail. Lucyd smart eyewear is an exciting new product and new category of sunglasses that we think our customers will love to use," said Marco Arilli, Managing Director of PRIVATO Duty Free.

About PRIVATO Duty Free

PRIVATO was founded by Marco Aurilli, a 30-year veteran of the duty free and retail industry. Its mission is to take the duty free and travel retail industry to a higher level by using the latest technologies to enhance consumer experiences. Privato provides services to the private jet-focused duty free network and has brought a refreshed and vibrant shopping experience to this industry. Privato Duty Free is a DBA of Bulldog Duty Free. Visit www.privatodutyfree.com for more information.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer of cutting-edge smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.

Tekcapital currently owns 5,189,086 shares of Innovative Eyewear, Inc. (approximately 40%).

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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, Innovative Eyewear Inc. 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. Other than as required by relevant regulation or law, 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.