Result of Retail Offer & Notice of GM

Mirriad Advertising plc (AIM: MIRI), a leading virtual in-content advertising and virtual product placement, is pleased to announce that the Retail Offer launched on 2 May 2024 via REX has now closed and the Company has conditionally raised gross proceeds of £0.49 million through the issue of 39,291,490 Retail Offer Shares at an issue price of 1.25 pence per new Ordinary Shares (the "Issue Price"). Accordingly, the Company has conditionally raised, assuming the Directors' Subscription proceeds as intended, total gross proceeds of approximately £6.79 million pursuant to the Placing, the Retail Offer and the Directors' Subscription (the "Fundraising"). The Retail Offer included a £200,000 order from an existing institutional Shareholder that did not participate in the Placing. No retail Shareholders were scaled back in order to accommodate this order.

The Firm Placing is conditional upon, amongst other things, the Placing Agreement not being terminated in accordance with its terms and First Admission. The Conditional Placing, the Retail Offer and the Directors Subscription are conditional upon, amongst other things, the Placing Agreement not being terminated in accordance with its terms and the Resolutions required to implement the Conditional Placing, the Retail Offer and the Directors' Subscription being passed by the Shareholders at the General Meeting proposed to be held at the offices of Osborne Clarke LLP at One London Wall, London, EC2Y 5EB, at 10.00 a.m. on 23 May 2024. Shareholders should note the change of location of the General Meeting from the one notified in the Launch Announcement (as defined below).

The Circular, which provides further details of the Fundraising and includes a notice convening the General Meeting, will be sent to Shareholders today and will also be available on the Company's website at www.mirriadplc.com/investor-relations.

Admission to trading

Conditional on the passing of the Resolutions at the General Meeting, admission of the 39,291,490 Retail Offer Shares and the 435,849,000 Conditional Placing Shares to trading on AIM ("Second Admission") is expected to take place at 8.00 a.m. on 28 May 2024 (or such later time and/or date as the Joint Bookrunners and the Company may agree (being in any event no later than 8.00 a.m. on 10 June 2024)). A separate announcement will be made following the General Meeting as to the results of the General Meeting and the total voting rights following Second Admission.

The Company will make a further announcement through a Regulatory Information Service confirming when it is expected that admission of the Subscription Shares will become effective.

Unless otherwise defined, definitions contained in this Announcement have the same meaning as set out in the announcement made by the Company on 2 May 2024 regarding the launch of the Placing (the "Launch Announcement").