Full Year Trading Update & Director Retirement

Full Year Trading Update

&

Director Retirement

Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, today provides the following year end trading update ahead of the announcement of its final results for the year to 31 July 2025, which will be released in November 2025.

Overview

• Nanoco's core markets, along with the wider quantum dot markets, are forecast to experience significant growth[1];
• We continue to make good progress on existing Joint Development Agreements ("JDAs"), with discussions ongoing regarding an extension to the JDA with one of our Asian Chemical customers before the expiry of the existing contract, which is due to complete in October 2025;
• Discussions are ongoing in relation to potential further JDAs with a number of other companies, some of which are outside of historical Nanoco markets;
• The litigation against LG Display for alleged patent infringement has been served, and is progressing as expected;
• We continue to assess strategic options for the Group's operating business with a number of interested parties.

Financial Highlights

• Unaudited revenues are £7.6m, exceeding market forecasts[2] due to:

o Additional services and product revenue of £0.1m;

o Accelerated recognition of revenue related to the Samsung licence due to the lapse of 13 patents during the year, which amounts to additional licence revenue of £0.3m.

• Underlying unaudited adjusted EBITDA is moderately ahead of expectations due to the increased revenue;
• Cash at year end of £14.0m, which is above market expectations due to lower than anticipated litigation costs and positive working capital variances;
• Gross monthly cash cost base remains consistent with previous communications at £0.5m.

Dmitry Shashkov, Nanoco's CEO, commented:

"This has been an important year for Nanoco during which our business development team has been fully focused on enhancing Nanoco's profile and maximising our organic growth prospects. Consequently, we have a number of promising, ongoing discussions with companies across several industry segments regarding future product developments, some of which are in new areas for the Group. In tandem, we remain in discussions with multiple parties as we assess our strategic options to maximise value for shareholders, and look forward to updating shareholders in due course."

Director Retirement and appointment of Director of Technology

Dr Nigel Pickett, founder and CTO of Nanoco Group, has confirmed his intention to retire from Nanoco. The Company would like to thank Nigel for his considerable contribution to Nanoco Group over the past 24 years, and wish him well in the future. Nigel is stepping down from the Board today, and will remain as an employee with the business until February 2026.

Nanoco is appointing an internal candidate, Dr. Ombretta Masala, as Nigel's successor as Director of Technology, reporting directly to the CEO. Ombretta has worked for Nanoco for 18 years, and has directly reported into Nigel for all that period. The Director of Technology position is not a Board position, and Dr Ombretta Masala will therefore not be appointed to the Board of Nanoco Group plc.

Jalal Bagherli, Nanoco's Chairman, commented:

"I'd like to thank Nigel for his important contributions to Nanoco, having been a pivotal player in the foundation of the business and the settlement we achieved with Samsung. In Ombretta we have a very capable successor who has significant experience in all aspects of Technology development and R&D management, and she has the capabilities to drive Nanoco through what is an exciting next chapter of commercial growth."

Issuance of shares

As previously announced, the non-executive directors agreed to defer a percentage of their director fees until the earlier of the end of the financial year or the completion of a transaction. Given the financial year has now ended, Nanoco will shortly be issuing 935,778 ordinary shares to satisfy this deferral. Shares in the EBT cannot be used to satisfy this charge as it is a company liability.

MAR

Nanoco Group plc:

Dmitry Shashkov, CEO +44 (0)1928 761 404

Liam Gray, CFO & Company Secretary

Sodali & Co (Public Relations)

Elly Williamson +44 (0)79 3535 1934

Pete Lambie

Oliver Banks

Cavendish Capital Markets Limited (Financial Adviser and Corporate Broker):

Ed Frisby / George Lawson (Corporate Finance) +44 (0) 20 7220 0500

Tim Redfern (Corporate Broking)

Jasper Berry (Sales)

CDX Advisors (Strategic Adviser):

Steven Foland +1 415 425 2224

Steve Month

Patrick Foley

[1] Yole, DSCC, IDTechEx

[2] The revenue and cash forecasts were £7.2m and £13.5m respectively, as prepared by Cavendish