CLN Conversion to Equity

5 January 2021

INTERCEDE GROUP plc

('Intercede', the 'Company' or the 'Group')

CLN Conversion to Equity

Intercede, the leading specialist in digital identities, credential management and secure mobility, announces the conversion by Harwood Capital Nominees of £100,000 nominal of the convertible loan note instrument dated 28 December 2016 (the "CLN"). The conversion into 145,322 ordinary shares of 1 pence each in the Company ("Ordinary Shares") was at the fixed conversion price of 68.8125 pence per Ordinary Share. Following this conversion, £4,905,000 remains outstanding under the CLN.

Issue of Equity

Application has been made for 145,322 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or around 8 January 2021. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following the issue of the new Ordinary Shares, the total number of shares in issue is 50,669,248 Ordinary Shares, each with voting rights. The Company holds 41,645 Ordinary Shares in treasury, therefore the total number of voting rights in the Company is 50,627,603.

The figure of 50,627,603 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

ENQUIRIES

Intercede Group plc                                                             Tel. +44 (0)1455 558 111
Klaas van der Leest, Chief Executive

Andrew Walker, Finance Director

finnCap                                                                                  Tel. +44 (0)20 7220 0500
Stuart Andrews, Corporate Finance

Simon Hicks, Corporate Finance

About Intercede

Intercede is a cybersecurity company specialising in digital identities, credential management and secure mobility.

Headquartered in the UK, with offices in the US, we believe in a connected world in which people and technology are free to exchange information securely, and complex insecure passwords become a thing of the past.

Our vision is to make the highest levels of cybersecurity available to all organisations, solving complexity issues by simplifying the management of digital credentials, securely and at scale.

We have been delivering trusted solutions to high profile customers for over 20 years. Our team of experts has deployed millions of identities to governments, most of the largest aerospace and defence corporations, and major financial services and healthcare organizations, as well as leading telecommunications, cloud services and information technology firms, providing industry-leading employee and customer credential management systems.

For more information visit: www.intercede.com

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.