Retail Offer

• Frontier IP announces a conditional retail offer of new Ordinary Shares via RetailBook.
• The Issue Price for the new Ordinary Shares is 15.5 pence per new Ordinary Share, representing a discount of 3.1 per cent to the closing middle market-price of 16.0 pence per Ordinary Share on 16 December 2025.
• The Retail Offer is available to both existing shareholders and new investors.
• There is a minimum subscription of £250 per investor in the Retail Offer.
• No commission will be charged by RetailBook on applications to the Retail Offer.

The Retail Offer

Frontier IP (AIM: FIPP), a specialist in commercialising intellectual property, is pleased to announce a conditional retail offer of new ordinary shares in the capital of the Company ("Ordinary Shares") via RetailBook (the "Retail Offer") at an issue price of 15.5 pence per new Ordinary Share (the "Issue Price"), being a discount of 3.1 per cent to the closing mid-price of the Company's existing Ordinary Shares on 16 December 2025.

The Company is also conducting a placing of new Ordinary Shares to institutional investors by way of an accelerated bookbuilding process (the "Placing") as well as a proposed subscription by all of the directors of the Company (the "Subscription", together with the Placing and Retail Offer, the "Fundraising") as announced by the Company earlier today. For the avoidance of doubt, the Retail Offer is not part of the Placing nor the Subscription.

The Retail Offer is conditional on the new Ordinary Shares to be issued pursuant to the Retail Offer being admitted to trading on AIM ("Admission"). Admission is expected to take place at 8:00 a.m. on 24 December 2025. The new Ordinary Shares to be issued pursuant to the Placing and Subscription are expected to be admitted to trading on AIM at 8:00 a.m. on 22 December 2025.

The Retail Offer will not be completed without the Placing and Subscription also being completed.

The Company will use the net proceeds of the Retail Offer to support the ongoing working capital requirements of the business and to selectively support its portfolio companies.

The net proceeds of the Placing and the Subscription will not provide the Company with sufficient cash resources to cover its operating expenses for twelve months from Admission, assuming no portfolio realisations are completed during the period. The Company is therefore intending to review its current cost base in early 2026, with a view to identifying potential reductions in the Company's cost base and efficiencies in the Company's current operations, whilst maintaining appropriate resourcing to drive realisations and growth in the portfolio in the coming year.

The Company also intends to raise further funds in early 2026 (the "Potential Further Fundraising") and is in discussions with strategic partners in this regard. There can, however, be no guarantee that the Potential Further Fundraising will be successful nor the timing or terms thereof. It is anticipated that any Potential Further Fundraising would be accompanied by a further retail offer. Alongside the Potential Further Fundraising, the Company intends to explore raising funding from other sources, including potential debt facilities.

Reason for the Retail Offer

The Company values its retail shareholder base and believes that it is in the best interests of its shareholders as well as wider stakeholders, to provide retail and other interested investors the opportunity to participate in the Retail Offer.

The Retail Offer is open to eligible investors resident and physically located in the United Kingdom following release of this announcement. The Retail Offer is expected to close at 10:00 a.m. on 22 December 2025 and may close earlier at the discretion of the Company or if it is oversubscribed.

Eligibility for the Retail Offer

Some Partners may only accept applications from existing shareholders and/or customers.

There is a minimum subscription of £250 per investor. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges. Note, no commission will be charged to investors by RetailBook in connection with the Retail Offer.

It is a term of the Retail Offer that the aggregate value of the shares available for subscription at the Issue Price does not exceed £174,117.

An investment in the Company will place capital at risk, including the risk that investors may lose their entire investment. The value of your investment in the Company and any income from it is not guaranteed and can go down as well as rise due to stock market and currency movements. When you sell your investment, you may get back less than the amount originally invested.

This announcement should be read in its entirety. In particular, the information in the "Important Notices" section of this announcement should be read and understood.