WRAP Retail Offer

Sareum Holdings plc is pleased to announce a retail offer via the Winterflood Retail Access Platform ("WRAP") to raise up to £300,000 (the "WRAP Retail Offer") through the issue of new ordinary shares of 1.25 pence each in the capital of the Company ("Ordinary Shares"). Under the WRAP Retail Offer, up to 3,000,000 new Ordinary Shares (the "WRAP Retail Offer Shares") will be made available at a price of 10 pence per new Ordinary Share.

In addition to the WRAP Retail Offer and as announced earlier this morning, the Company is also proposing a fundraise via a placing and subscription of up to 12,000,000 new Ordinary Shares (the "Placing Shares" and, together with the WRAP Retail Offer Shares, the "New Ordinary Shares") to raise approximately £1,200,000 (before expenses) (the "Placing") at a price of 10 pence per share (the "Placing Price"). Hybridan LLP acted as sole broker to the Placing. The Placing Price represents a discount of approximately 31 per cent. to the mid-market closing price of an Ordinary Share on 27 March 2024 (being the latest practicable date prior to this announcement). The issue price of the WRAP Retail Offer Shares is equal to the Placing Price.

A separate announcement has been made regarding the Placing and its terms and sets out the reasons for the Placing and use of proceeds. The proceeds of the WRAP Retail Offer will be utilised in the same way as the proceeds of the Placing, to complete Phase 1a clinical studies on its SDC-1801 TYK2/JAK1 inhibitor and, together with the receipt of anticipated R&D tax credits in the amount of £0.7m, for general working capital purposes.

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The WRAP Retail Offer and the Placing are conditional, inter alia, on the New Ordinary Shares being admitted to trading on the AIM Market ("AIM") of the London Stock Exchange plc ("Admission"). It is anticipated that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM, at 8:00 a.m. on 5 April 2024.

WRAP Retail Offer

Therefore, the Company is making the WRAP Retail Offer open to eligible investors in the United Kingdom, being existing shareholders of Sareum, following release of this announcement and through certain financial intermediaries. Existing shareholders can contact their broker or wealth manager to participate in the WRAP Retail Offer.

The WRAP Retail Offer is expected to close at 12 noon on 2 April 2024. Eligible shareholders should note that financial intermediaries may have earlier closing times.

To be eligible to participate in the WRAP Retail Offer, applicants must be a customer of a participating intermediary and, as at the date hereof or will be, prior to placing an order for WRAP Retail Offer Shares, shareholders in the Company which may include individuals aged 18 years or over, companies and other corporate bodies, partnerships, trusts, associations and other unincorporated organisations.

There is a minimum subscription of £100 per investor under the WRAP Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.

It is a term of the WRAP Retail Offer that the total value of the WRAP Retail Offer Shares available for subscription at the Placing Price does not exceed £300,000.

Further information on the Company can be found on its website at https://sareum.com/.

The Company's LEI is 213800PKERN2DY8FFM72.