Retail Offer for up to £0.5 million

The Board of Directors of Ilika plc is pleased to announce a retail offer via BookBuild to raise up to approximately £0.5 million (the "Retail Offer") through the issue of up to 1,515,151 new ordinary shares (the "Retail Offer Shares") of 1 pence ("Ordinary Shares") each in the capital of the Company at an issue price of 33 pence per new Ordinary Share (as defined below) (the "Issue Price").

In addition to the Retail Offer, and as announced earlier today, the Company has conditionally raised approximately £3.3 million (gross) through a placing (the "Placing Shares") and directors subscription (the "Director Subscription Shares") for new Ordinary Shares (the Placing Shares and Director Subscription Shares, together with the Retail Offer Shares constitute the "New Ordinary Shares") at the Issue Price (together with the Retail Offer, the "Capital Raising").

A separate announcement has been made regarding the placing and directors' subscription and the associated terms. For the avoidance of doubt, the Retail Offer is not part of the placing and directors' subscription.

The net proceeds of the Capital Raising will be used primarily to advance the commercial status of both of the Company's product lines, specifically supporting the commercial launch and ramp up of the small format Stereax technology, and the continued development of the large format Goliath technology, through to a position where it is possible to secure commercial licensing agreements with commercial partners.

An investor presentation was held at 10:00 a.m. this morning via Investor Meet Company. Investors can access the recording of the presentation for free on Investor Meet Company website or by following this link: https://www.investormeetcompany.com/companies/ilika-plc

For more information, please contact FTI Consulting at: ilika@fticonsulting.com.

The Issue Price represents a discount of approximately 2.9 per cent to the closing mid-market price of 34 pence per existing Ordinary Share on 20 May 2025.

The Capital Raising is conditional, inter alia, on the New Ordinary Shares being admitted to trading on the AIM market operated by the London Stock Exchange ("Admission"). It is anticipated that Admission will become effective and that dealings in the New Ordinary Shares will commence on or around AIM, at 8.00 a.m. on 2 June 2025.

The intended use of proceeds from the Capital Raising are outlined below:

Up to £1.1 million to support Stereax in the delivery of:

o Technology transfer to Cirtec;

o Testing & validation; and

o Customer support.

• Up to £2.4 million for the development of Goliath technology, via:

o Prototype design & build;

o Testing equipment purchasing;

o Test programme execution; and

o Customer support and engagement.

Expected Timetable in relation to the Retail Offer

Retail Offer

The Company values its retail shareholder base, which has supported the Company alongside institutional investors since IPO in 2010. Given the support of retail shareholders, the Company believes that it is appropriate to provide its retail shareholders in the United Kingdom the opportunity to participate in the Retail Offer. The Company is therefore making the Retail Offer available in the United Kingdom through the financial intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/67GWJ1/authorised-intermediaries

The Retail Offer will be open to eligible investors in the United Kingdom at 2:00 p.m. on 22 May 2025. The Retail Offer is expected to close at 4:30 p.m. on 28 May 2025. Investors should note that financial intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed.

There is a minimum subscription of £100.00 per investor under the terms of the Retail Offer which is open to investors in the United Kingdom subscribing via the intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/67GWJ1/authorised-intermediaries

The Company's LEI is 213800TMDNIE3Z8XXD26.

UK Product Governance Requirements

EU Product Governance Requirements