Backblaze IPO Pricing Update

11 November 2021

TMT INVESTMENTS PLC

("TMT" or the "Company")

Backblaze IPO Pricing Update

TMT Investments Plc (AIM: TMT.L), the venture capital company investing in high-growth technology companies, notes that its portfolio company Backblaze, Inc. ("Backblaze"), a leading cloud storage platform, announced on 10 November 2021 the pricing of its initial public offering of 6,250,000 shares of its Class A common stock at a price to the public of US$16.00 per share, for gross proceeds to Backblaze of US$100,000,000, before underwriting discounts, commissions, and offering expenses payable by Backblaze.

Backblaze's Class A common stock is expected to begin trading on the Nasdaq Global Market on 11 November 2021 under the ticker symbol "BLZE."  The offering is expected to close on 15 November 2021, subject to the satisfaction of customary closing conditions.

At the placing price of US$16.00 per share, the value of TMT's investment in Backblaze is valued at approximately US$59.8 million, which represents a revaluation uplift of US$1.8 million (or 3.2%) in the value of TMT's investment in Backblaze, compared to the previously announced valuation as of 30 June 2021 (adjusted for the value of TMT's additional investment made in Backblaze in the second half of 2021).

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About TMT Investments Plc

TMT Investments Plc invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has a current investment portfolio of over 50 companies and net assets of US$218 million as of 30 June 2021.  The Company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation.  The Company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com.

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