Elevate.io update

Blackbird plc (AIM: BIRD), the technology licensor, developer and seller of market-leading cloud native video editing platform, Blackbird, and developer of the online collaborative video editing and content creation platform, elevate.io, today gives an update on elevate.io (via video):

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In the video Ian McDonough, the Company's Chief Executive Officer, Sumit Rai, the Company's Chief Product Officer and Kell Lowinsky, Head of Marketing, give updates on elevate.io.

elevate.io remains on track to "lower the floor" and "raise the ceiling" on what is possible with an online video editor. In marketing the Company has seen tangible improvements in both its Customer Acquisition Cost ("CAC") and its marketing funnel within just a few months.

Product update

• elevate.io has rolled out a wave of powerful features over the past few months, including: support for vertical video; 4k exports; slow motion; improved colour science; and an industry first innovation of "in timeline comments" which allows for seamless collaboration.
• The user experience has been enhanced with streamlined onboarding, the launching of the first paid tier and integrating learning resources directly into the platform.
• elevate.io is built on the backbone of the Company's core technology which will allow significant acceleration of further development.
• The Company is currently working on a set of updates with the goal of satisfying the broadest set of users.
• The Company aims to deliver desktop grade editing power in the cloud that is easy to use, with collaboration capabilities that desktop editors won't be able to match.

Marketing update

• The Company's CAC has been brought down by 38%1.
• The Company is currently using a singular targeted paid ads approach with a modest budget focusing on online video editor early adopters in the United States.
• Use of a data driven approach to:

§ fine tune ads and conversion goals to drive efficiency; and

§ determine when to ramp up marketing and begin other paid channels.

• The marketing team are also working on SEO, events and organic social.
• The Company's metrics have improved from January to April 2025:

§ with constant improvements to the website, circa 50%2 of website traffic is being converted to be verified sign ups; and

§ for new users: uploading media has increased by 26% to 63%3; entering a clip on the timeline has increased by 29% to 50%3; and exporting a video has increased by 48% to 28%3

Notes

1 Based on the periods of 11 February to 28 February 2025 vs 1 April to 23 April 2025

2 Based on 28 day period to 23 April 2025

3 Based on the periods of 1 January to 31 January 2025 vs 1 April to 23 April 2025