Trellus Health plc: Successful Restricted Offer

The following announcement from Trellus Health plc is being linked to the EKF ticker for information purposes only

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Capitalised terms in this announcement have the same meanings as in prior announcements

in relation to the Fundraising, unless otherwise indicated.

Trellus Health plc

("Trellus Health" or the "Company")

Successful Restricted Offer

Update on Fundraising and Admission

LONDON, UK. AND NEW YORK, U.S. (26 May 2021). Trellus Health plc (AIM: TRLS), which is commercialising a resilience-based connected digital health solution for chronic condition management, announces the result of the Restricted Offer made to its shareholders, who returned a valid application form to subscribe for Trellus Health Ordinary Shares of £0.001 each ("Trellus Health Shares") at the Issue Price, being 40 pence per share (the "Restricted Offer").

The Restricted Offer to raise up to £0.9 million in gross proceeds was significantly oversubscribed.

The Placing, Subscription and Restricted Offer have, in aggregate, raised £28.5 million through the issue of a total of 71,250,000 new Ordinary Shares at the Issue Price.

The allotment and issue of Trellus Health Shares in connection with the Restricted Offer remains conditional upon, among other things, Admission, which is expected to take place at 8:00 a.m. on Friday, 28 May 2021.

Applicants to the Restricted Offer can confirm their final allotment of shares by contacting the Link Group helpline on 0371 664 0321. Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. The helpline is open between 9.00 a.m. and 5.30 p.m., Monday to Friday excluding public holidays in England and Wales. The helpline cannot provide any financial, legal or tax advice and calls may be recorded and monitored for security and training purposes.

Full details of the Fundraising will be contained in the Trellus Health Admission Document, which will be made available shortly before Admission at www.trellushealth.com/investors.

For further information please contact:

About Trellus Health plc (www.trellushealth.com)

Trellus Health is commercialising the provision of digital chronic condition management solutions for employers and health plans that utilise the scientifically validated GRITT™ resilience-based methodology and a proprietary HIPAA-compliant technology platform called TrellusElevate™ to coordinate and deliver personalised care remotely via telemedicine. The Company is initially focused on Inflammatory Bowel Diseases ("IBD"), which includes the chronic incurable conditions of Crohn's Disease and ulcerative colitis, but considers its approach to have potential utility and demand across many chronic conditions.

The TrellusElevate™ platform is the Company's proprietary connected health platform that incorporates the GRITT™ methodology and learnings on resilience from clinical research and practice conducted at the Mount Sinai IBD Center for more than five years. The GRITT™ methodology and resilience-driven multidisciplinary care model have been scientifically validated to demonstrate meaningful improvements in patient outcomes and over 85 per cent. reduction in unplanned healthcare utilisation (emergency department visits and hospitalisations) which the directors of the Company believe indicates the potential for significant cost savings for healthcare payers.

The Company was formed in July 2020 as a UK incorporated company, with the exclusive license for commercialisation of the GRITT™ methodology for IBD and seven broad disease categories granted by the Icahn School of Medicine at Mount Sinai ("ISMMS"). On 20 August 2020, EKF Diagnostics Holdings plc ("EKF") announced that it had led, in partnership with ISMMS, a $5 million strategic investment into the Company. On 18 December 2020, EKF distributed its investment in the Company to EKF shareholders on its register at that time, by way of a dividend in specie of its entire holding of 27,999,999 non-voting Trellus A Shares. Transfer of these shares took place on 18 December 2020 to Broadway Nominees Limited to be held on trust for the underlying EKF shareholders. On Admission, all A Shares will convert to Ordinary Shares.

Disclaimer

This announcement is an advertisement for the purposes of the Prospectus Regulation Rules of the UK Financial Conduct Authority ("FCA") and is not a prospectus nor an admission document.  This announcement is not and does not constitute, or form part of, and should not be construed as, an offer or invitation to sell, allot or issue or any solicitation of any offer to purchase or subscribe for, any securities of the Company in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment for securities in the Company in any jurisdiction, including in or into the United States, Canada, Australia, the Republic of South Africa or Japan or their respective territories or possessions. This announcement does not constitute a recommendation regarding any securities.

Prospective investors should not subscribe for or purchase any securities referred to in this announcement except in compliance with applicable securities laws and regulation and on the basis of the information in the Pathfinder, the P-Proof of the admission document and the final admission document ("Admission Document") to be published by the Company, and any supplement thereto, in connection with the Fundraising and Admission. Following publication, a copy of the Admission Document will be made available on the Company's website. The information in this announcement is for background purposes only and does not purport to be full or complete.