Interim extension of convertible loan notes

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), is pleased to announce that it has reached agreement with Magna International Inc. ("Magna") for an interim extension to the maturity date of the Company's existing convertible loan notes owed to Magna, which mature on 4 October 2026 ("CLNs").

The interim extension is for the period to 30 November 2026. The parties will use this period to negotiate a longer-term extension to the maturity date of the CLNs.

Given these developments, the Board considers that it is in the best interests of shareholders for management's immediate focus to be on finalising a longer-term extension with Magna, which the Company believes will support execution of an optimal refinancing strategy.

Paul McGlone, Chief Executive Officer, commented: "We have had positive and constructive discussions with Magna, our long-term partner, and believe the interim extension of the existing convertible loan notes is in the best interests of Seeing Machines and its shareholders when compared to the presently proposed refinance debt package. We are grateful to Magna for its support and look forward to successfully concluding a longer term extension. We expect that the extension will provide the Company with flexibility and leverage current business momentum to support repayment of the Magna convertible loan notes as swiftly as practicable.

"In the meantime, the Company continues to perform in line with expectations and with significant momentum. We are pleased with the response of investors and the broader market to the recent release of our half-year trading results and quarterly KPIs, and we are particularly pleased to the market reaction to the launch of our Human-Centred Physical AI platform for robotics."