Result of Placing & Director Subscription

Ilika (AIM: IKA), the UK pioneer in solid-state battery technology, is pleased to confirm that further to the Company's announcement released at 5.08 p.m. on 2 July 2026 (the "Launch Announcement"), the ABB has now successfully closed, and the Company has conditionally raised gross proceeds of approximately £4.56 million before expenses by way of a successful oversubscribed placing of, and subscription for, a total of 16,271,425 new Ordinary Shares at the Issue Price of 28 pence per Ordinary Share.

In addition to the Placing and Subscription, the Company proposes to raise up to a further £0.5 million through the issue of up to 1,785,714 new Ordinary Shares pursuant to a Retail Offer to existing retail Shareholders at the Issue Price. A further announcement will be made regarding the Retail Offer in due course.

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

The Placing and the issue of the Placing Shares are conditional upon:

• the Placing Agreement having become unconditional (save for Admission) and not having been terminated in accordance with its terms prior to Admission; and
• Admission taking place by no later than 8.00 a.m. on 9 July 2026 (or such later date as Cavendish may agree in writing with the Company, being not later than 8.00 a.m. on 23 July 2026 the Long Stop Date).

The Capital Raising has been carried out pursuant to the Company's existing shareholder authorities granted at the Company's 2025 Annual General Meeting.

Graeme Purdy, CEO of Ilika, said: "We thank investors, new and existing, for their support. This capital raised will support the further commercialisation of our Stereax technology, enable us to further optimise our Goliath prototypes and invest in equipment to enable us to launch our first Goliath product. Stereax continues to be of great interest to active implantable medical device developers while the Goliath EV roadmap has reached an exciting intersection point with the urgent sovereign needs of the defence sector."

Director Participation

As part of the Capital Raising a total of 71,429 Director Subscription Shares are, conditional upon Admission, being issued to certain Directors. The following Directors have participated in the Directors Subscriptions:

1 - Assuming full take up of the Retail Offer

2 - On the assumption that no new Ordinary Shares are issued under the Company's share schemes prior to the date of Admission.

Admission & Total Voting Rights

Completion of the Placing and Directors Subscriptions remains subject, inter alia, to Admission of the Placing and Director Subscription Shares. Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. It is expected that dealings in the New Ordinary Shares will commence on or around 8.00 a.m. on 9 July 2026 (or such time and/or date as the Company and Cavendish may agree, being not later than 8.00 a.m. on 23 July 2026 the Long Stop Date).

Following Admission, assuming the full take up of the New Ordinary Shares pursuant to the Capital Raising, the Company will have 198,889,314 Ordinary Shares in issue. For the avoidance of doubt, if the Placing Agreement between the Company and Cavendish is terminated prior to Admission then none of the Placing, the Director Subscriptions or the Retail Offer will occur. The New Ordinary Shares, when issued, will be credited as fully paid and will rank on Admission pari passu in all respects with each other and with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

The Company has two product lines. Its Stereax batteries are designed for powering miniature medical implants, industrial wireless sensors and Internet of Things ("IoT") applications and the Goliath large format batteries are designed for EVs and cordless appliances.

Through its licensing business model, Ilika supplies its intellectual property ("IP") portfolio to both original OEMs and manufacturing partners in exchange for a license fee and future royalties.

Note:

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under UK MAR. If you have any queries on this, please contact those contacts listed above.