Retail Offer for up to £0.5 million

THE COMMUNICATION OF THIS ANNOUNCEMENT AND ANY OTHER DOCUMENTS OR MATERIALS RELATING TO THE RETAIL OFFER AS A FINANCIAL PROMOTION IS ONLY BEING MADE TO, AND MAY ONLY BE ACTED UPON BY, THOSE PERSONS IN THE UNITED KINGDOM FALLING WITHIN ARTICLE 43 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (WHICH INCLUDES AN EXISTING MEMBER OF ILIKA PLC). ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO SUCH PERSONS AND WILL BE ENGAGED IN ONLY BY SUCH PERSONS.

Ilika plc

("Ilika", the "Group", or the "Company")

Retail Offer for up to £0.5 million

The Board of Ilika is pleased to announce a retail offer via BookBuild to raise up to £0.5 million (the "Retail Offer") through the issue of up to 1,785,714 new ordinary shares (the "Retail Offer Shares") of 1 pence each ("Ordinary Shares") in the capital of the Company at an issue price of 28 pence per new Ordinary Share (as defined below) (the "Issue Price").

In addition to the Retail Offer, and as announced at 7.00am this morning, the Company has conditionally raised approximately £4.56 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 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.

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

The Issue Price represents a discount of approximately 3.45 per cent to the closing share price of 29 pence per existing Ordinary Share on 1 July 2026.

The Retail Offer is, inter alia, conditional on the New Ordinary Shares to be issued pursuant to the Retail Offer being admitted to trading on the AIM market operated by the London Stock Exchange ("Admission"). Admission of the New Ordinary Shares pursuant to the Retail Offer is expected to commence on or around AIM at 8.00 a.m. on 9 July 2026. Completion of the Retail Offer is conditional, inter alia, upon the completion of the Placing.

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

• Up to £2 million to support Stereax commercial rollout and scaling, enabling the following key milestones:

o Product optimisation support for Cirtec Medical LLC

o Testing and validation of M300 to facilitate battery sales to end customers

o Triggering initial royalty payments

• Up to £3 million to support Goliath's progression from technical specification finalisation through to licensing, enabling the following key milestones:

o Prototype and production optimisation

o Battery formation equipment purchasing

o Test programme execution

o 10Ah minimum viable product delivery

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/213VJ7/authorised-intermediaries

Cavendish Capital Markets Limited ("Cavendish") is acting as nominated adviser and sole broker to the Company. In relation to the Capital Raising, Cavendish and Yellowstone Advisory Limited ("Yellowstone") are acting as joint bookrunners and Cavendish is acting as retail offer coordinator in relation to this Retail Offer (the "Retail Offer Coordinator").

The Retail Offer will be open to eligible investors in the United Kingdom at 8:00am on 3 July 2026. The Retail Offer is expected to close at 4:30pm on 7 July 2026. Investors should note that financial intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed.

The Retail Offer the subject of this announcement is and will, at all times, only be made to, directed at and may only be acted upon by those persons who are, shareholders in the Company. To be eligible to participate in the Retail Offer, applicants must meet the following criteria before they can submit an order for Retail Offer Shares1: (i) be a customer of one of the participating intermediaries listed on the above website; (ii) be resident in the United Kingdom and (iii) be a shareholder in the Company (which may include individuals aged 18 years or over, companies and other bodies corporate, partnerships, trusts, associations and other unincorporated organisations and includes persons who hold their shares in the Company directly or indirectly through a participating intermediary). For the avoidance of doubt, persons who only hold CFDs, Spreadbets and/or similar derivative instruments in relation to shares in the Company are not eligible to participate in the Retail Offer.

The Company reserves the right to scale up the Retail Offer at its discretion should there be demand to do so. The Company reserves the right to scale back any order at its discretion. The Company reserves the right to reject any application for subscription under the Retail Offer without giving any reason for such rejection.

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/213VJ7/authorised-intermediaries

Key Investment Risks

The Company's LEI is 213800TMDNIE3Z8XXD26.

UK Product Governance Requirements

EU Product Governance Requirements