£1.0m convertible loan agreement

Symphony Environmental Technologies Plc (AIM: SYM), global specialists in technologies that make plastic products "smarter, safer and sustainable", is pleased to announce it has entered into an additional convertible loan agreement ("Loan") with Sea Pearl Ventures Limited ("Sea Pearl").

Key terms of the Loan, are similar to the previous £1.0 million convertible loan announced on 13 March 2023, namely:

• Loan principal: £1.0 million (unsecured) to be drawn down as to £500,000 immediately and £500,000 on or before 31 March 2024
• If not repaid on or before 30 September 2024, conversion on that date
• Conversion price: 80% of the volume-weighted average share price for the 3 months prior to 30 September 2024
• Interest: 7% per annum, payable as accrued on repayment and/or conversion
• Repayment of the Loan, in full or in part solely at Symphony's discretion

The proceeds of the Loan will be used to strengthen the Group's cash position for ongoing working capital purposes and will further support the Group to deliver on its many commercial opportunities.

Also, the current £1.0 million convertible loan, announced on 13 March 2023, has been amended so that the term of that previous loan is now co-terminus with the new Loan, terminating on 30 September 2024.

Sea Pearl is based in the Bahamas, and is currently interested in 17.4% of Symphony's issued share capital. Accordingly, Sea Pearl is considered a substantial shareholder under the AIM Rules and provision of the Loan being a related party transaction. The board of directors of the Company consider, having consulted with the Company's nominated adviser, that the terms of the Loan are fair and reasonable insofar as the Company's shareholders are concerned.