Innovative Eyewear,Inc. Global Licensing Agreement

12 December 2023

Tekcapital Plc

("Tekcapital")

Innovative Eyewear, Inc. Launches Nautica Smart Eyewear

Under Multi-Year, Global Licensing Agreement with Authentic Brands Group

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group announces that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer of ChatGPT enabled smart eyewear, is pleased to announce through an agreement with Authentic Brands Group ("Authentic"), the launch of the Nautica Smart Eyewear collection.

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

"Smart eyewear was once firmly in the remit of early adopters and tech enthusiasts alone. We are changing that forever by producing smart eyewear that is not only a functional Bluetooth accessory, but a fun and trendy fashion statement. Combining our technology with the popular and storied Nautica brand is sure to delight consumers worldwide, and further advance our mission to make the future of eyewear smart. We look forward to launching the line via our optical store partners in January, as well as on Nautica.com soon after."

Nautica smart eyewear will be made in eight initial sunglass styles, with two of the styles also available with a blue light-blocking lens for indoor use. All of the new frames will be able to accept prescription lenses. The collection also features Nautica's first-ever "Global Fit" frame for consumers with a low nose bridge, which paves the way for the products to be sold in additional regions. The line also features hi-fi Bluetooth 5.2 audio, 12 hours of music per charge, 99% post-consumer recycled packaging, patent-pending auto-adjusting hinges, and several branded accessories including a power brick, cleaning cloth and a slipcase with the iconic Nautica sail logo.

Henry I. Stupp, President, Lifestyle EMEA - INDIA  at Authentic commented:

"When it comes to Nautica, we've always been dedicated to providing consumers with style and fashion. Partnering with Innovative Eyewear to launch Nautica Smart Eyewear allows us to take that commitment to the next level. These smart glasses not only reflect our brand ethos but also provide users with an innovative and stylish way to engage with the world."

The Nautica smart eyewear line is expected to ship in January 2024.

About Nautica®

Drawing from the essence of the water and the currents of the world, Nautica is a global lifestyle brand that creates style that's iconic, yet modern and innovative in its fit, feel and function. Nautica is one of the most recognized American brands in the world, with over 70 categories including apparel, accessories and a home collection for men, women and children. Nautica is available in nearly 1,300 freestanding stores and shop-in-shops in more than 30 countries worldwide, as well as on nautica.com.

Follow @nautica on Instagram, Facebook and Pinterest.

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.

Photo 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.