Portfolio Update

24 June 2026

TMT INVESTMENTS PLC

("TMT" or the "Company")

Portfolio Update

TMT Investments Plc (AIM: TMT.L), the venture capital company investing in high-growth technology companies, is pleased to announce the following developments in the Company's portfolio since the publication of its 2025 Annual Report on 24 March 2026.

Positive revaluations and cash disposals

·    In the last few weeks, TMT disposed of a part of its shareholding in cloud storage platform Backblaze, Inc.("Backblaze") for a total net cash consideration of US$4.65 million.

·    On 23 June 2026, Backblaze announced a major 5-year agreement with CoreWeave, Inc. (Nasdaq: CRWV) ("Coreweave"). Under this US$335 million agreement, Backblaze will provide cost-efficient storage capacity that supports portions of CoreWeave's managed storage infrastructure, helping optimise placement of data across performance tiers while preserving high-performance storage resources for the demands of AI workloads.

·    Following the announcement of the agreement with CoreWeave, Backblaze's share price increased significantly. Based on the closing mid-market price of US$11.66 per share on 23 June 2026 (and adjusted for the US$4.65 million net disposal proceeds received by TMT from the partial sale of its holding during 2026 to date), Backblaze's current share price represents an increase of US$17 million in the fair value of TMT's investment in Backblaze, compared to the previous reported amount as of 31 December 2025.

·    TMT also received additional disposal proceeds of US$116,154 from its previously fully exited investment in Central American delivery company Hugo Technologies and a cash dividend of £142,322 from SOAX Ltd., a data collection and software company that specialises in providing AI-powered proxy servers and web data extraction tools.

Negative revaluations

In line with TMT's prudent approach to valuing its portfolio investments, the Company expects to write down the value partially or fully of at least seven of its smaller investments as at the forthcoming 30 June 2026 period end for a total value currently estimated at approximately US$3 million.

Alexander Selegenev, Executive Director of TMT, commented:

"In the first half of 2026, TMT's shares continued to trade at a 60%+ discount to NAV, representing a highly attractive investment opportunity. The latest increase in the value of TMT's investment in Backblaze has further increased the upside of this holding.

At the 1.16 Euro/USD exchange rate, the US$77 million value of TMT's position in Bolt and the US$25 million value of TMT's position in Backblaze was approximately US$20 million greater than TMT's entire market capitalisation as of 23 June 2026. The Company's continuing share buyback programme has been capitalising on this opportunity, with approximately 75% of the approved total buyback value having been completed to date."

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About TMT Investments Plc

TMT Investments Plc invests in high-growth technology companies globally across a number of core specialist sectors.  Founded in 2010, TMT has a current investment portfolio of over 50 companies and net assets of US$221 million as of 31 December 2025. 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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