17 October 2023

Tekcapital Plc

("Tekcapital")

Innovative Eyewear, Inc. Launches

 the Lyte XL Smart Eyewear Collection

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group announces that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer of ChatGPT smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, announced a new collection of smart eyewear with enhanced features and comfort. The Lyte XL collection launched today on Lucyd.co and Amazon.com.

The Lyte XL collection introduces several groundbreaking improvements to the Company's core product line, including the following:

•   Six new styles of smart eyewear featuring a mix of modern and classic shapes, and the return of metal aviators to the Lucyd lineup.

•   Improved audio and call quality, making the glasses more enjoyable for a variety of use cases.

•   Patent-pending spring hinges for more comfortable and wide-ranging fits, and improved frame durability.

•   A thinner Bluetooth temple with improved ergonomics.

•   New frame lengths and widths for larger head sizes.

•   New 99% post-consumer recycled packaging and user manual displaying important product info in five major languages.

•   All styles are available in the full range of 50+ custom and prescription lenses offered on Lucyd.co.

Harrison Gross, CEO of Innovative Eyewear Inc., commented:

"The Lyte XL collection is the culmination of years of smart eyewear R&D, and addresses several key points of consumer feedback on our products. We are very pleased to present our most comfortable, best-sounding and most durable smart eyewear yet. We are continuing to enhance the Lucyd line to deliver the most comfortable, functional, and fashionable smart eyewear. Be sure to download our free Lucyd app to access the power of ChatGPT on our smart eyewear."

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer of cutting-edge ChatGPT enabled 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.

Lucyd Lyte XL Smart Eyewear

 Courtesy of Innovative Eyewear Inc.

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.