Litigation update

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 has filed an answer and counterclaims to the complaint for declaratory judgement originally filed by Shoei Chemical Inc. and Shoei Electronic Materials, Inc. (together, "Shoei") in the US District Court for the Eastern District of Virginia.

As detailed in the Group announcement on 27 November 2025, Shoei filed a declaratory judgement action claiming it is not infringing a number of Nanoco's patents.

Subsequently, the Board has evaluated next steps with legal counsel and concluded that it has a number of counterclaims against Shoei for infringement of Nanoco's intellectual property. As part of the counterclaims, Nanoco seeks damages for infringement of U.S. Patent No. 7,588,828, US Patent No. 7,803,423, US Patent No. 7,867,557 and US Patent No. 8,524,365.

Shoei acquired substantially all of the assets from Nanosys, Inc. ("Nanosys"), another manufacturer of quantum dots, for an undisclosed sum in September 2023. Shoei is a supplier of quantum dots to a number of globally significant technology companies. At this stage, the counterclaims do not specify the quantum of monetary damages sought by Nanoco and it may take some time before this is established.

Nanoco has retained Caldwell, Cassady and Curry ("CCC"), an IP law firm based in Dallas, Texas, USA, to represent it in patent enforcement and litigation. CCC was one of the legal firms involved in Nanoco's successful litigation against both Samsung and LG Electronics.

This case is expected to come to trial within the calendar year 2026 and is currently being funded from the Group's existing cash reserves. Shareholders are reminded that there can be no guarantee of success in a lawsuit, or as to the monetary damages that may be awarded if the jury and/or court finds in favour of Nanoco.

The Board of Nanoco will continue to update shareholders as appropriate.

Dr Jalal Bagherli, Nanoco's Chairman, commented:

"Nanoco has on multiple occasions proven the value and validity of its IP through the Samsung and LG litigation processes. As a Board, we have been clear in our commitment to defending our IP to ensure a fair outcome for shareholders of Nanoco, and have the financial resources to do so.

As with previous litigation that the Board has overseen, while there is potential for damages, litigation itself carries considerable inherent risk and the Board must weigh the opportunity versus the cost. Having taken legal advice and given Shoei's position in the global technology supply chain, the Board believes that it is in the best interests of shareholders to both defend the Shoei claims of non-infringement, and pursue counter claims for infringement.

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)