WRAP Retail Offer for up to £1 million

Feedback plc is pleased to announce a retail offer via the Winterflood Retail Access Platform ("WRAP") to raise up to £1 million (the "Retail Offer") through the issue of new ordinary shares of one penny each in the capital of the Company ("New Ordinary Shares"). Under the WRAP Retail Offer, up to 5,000,000 New Ordinary Shares (the "Retail Offer Shares") will be made available to new and existing retail investors at an issue price of 20 pence per share ("Issue Price").

In addition to the Retail Offer, and as announced today, the Company is proposing a placing via a bookbuild process (the "Placing") to raise approximately £5.2 million (before expenses) and a direct subscription (the "Subscription") to raise £70,500 through the issue of New Ordinary Shares at the Issue Price (together with the Retail Offer the "Fundraising"). The Issue Price represents a discount of approximately 55 per cent. to the mid-market closing price of an Ordinary Share on 1 November 2024 (being the latest practicable date prior to this announcement). The issue price of the Retail Offer Shares is equal to the Issue Price. If the Retail Offer is taken up in full, the aggregate gross proceeds of the Fundraising will be approximately £6.3 million.

A separate announcement has been made regarding the Placing and the Subscription and setting out the terms of the Placing and the reasons for the Fundraising and use of proceeds. The net proceeds of the Retail Offer will be used towards working capital and balance sheet strength.

Additionally, the Company announced earlier today the proposed Share Capital Reorganisation of its existing issued ordinary share capital to subdivide each Existing Ordinary Share into one New Ordinary Share of one penny each and one Deferred Share of 49 pence each.

For the avoidance of doubt, the Retail Offer is not part of the Placing or the Subscription. Completion of the Retail Offer is conditional, inter alia, upon the completion of the Share Capital Reorganisation and the Placing but completion of the Placing is not conditional on the completion of the Retail Offer or the Subscription.

The Fundraising is conditional on the New Ordinary Shares to be issued pursuant to the Fundraising ("Fundraising Shares") being admitted to trading on AIM of the London Stock Exchange plc ("Admission"). It is anticipated that Admission will become effective and that dealings in the Fundraising Shares will commence on AIM, at 8.00 a.m. on 29 November 2024.

WRAP Retail Offer

The Company values its retail shareholder base and believes that it is appropriate to provide its existing retail shareholders, along with new qualifying investors, in the United Kingdom the opportunity to participate in the Retail Offer.

Therefore, the Company is making the Retail Offer open to eligible investors in the United Kingdom, being both new and existing shareholders of the Company, following release of this announcement and through certain financial intermediaries.

The Retail Offer is expected to close at 4.30 p.m. on 5 November 2024. Eligible retail investors should note that financial intermediaries may have earlier closing times. The result of the Retail Offer is expected to be announced by the Company on or around 6 November 2024.

There is a minimum subscription of £100 per investor under the Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.

It is a term of the Retail Offer that the total value of the Retail Offer Shares available for subscription at the Issue Price does not exceed £1,000,000.

Emma Earl/Freddy Crossley/Mark Rogers (Corporate Finance) Rupert Dearden (Corporate Broking)

The Company's LEI is 213800UGOF2GT2U2RV90.

Certain terms used in this announcement but not defined in it shall, unless the context otherwise requires, have the meaning given to them in the Company's announcement of 7:01 a.m. today relating to the Placing and the Subscription.