Portfolio Company Update - Innovative Eyewear Inc

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group notes that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer and retailer of ChatGPT enabled smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands is pleased to announce a powerful new update to the Company's Lucyd app for iOS and Android.

The Lucyd app was the first to enable voice access to ChatGPT for smart eyewear, and Innovative Eyewear believes these latest enhancements further strengthen its market position in the smart eyewear sector.

The new updates include:

• App Shopping. Both the iOS and Android versions have received new in-app shopping experiences, complete with prescription customization on all Lucyd eyewear. The app shopping is faster, more immersive and more customized than our other ecommerce channels, while conveniently synchronizing order history with our main customer account system on Lucyd.co.
• New Siri Commands for Walkie. New voice prompts have been created for the iOS app's Walkie-talkie features, which enable the user to join and leave channels handsfree by activating Siri from the glasses. The user can also now mute and unmute the glasses microphones while on a Walkie channel via a Siri command. These new commands make it faster to manage communications on the move.
• Natural Voice. The iOS app's AI assistant now features upgraded voice output, delivering more natural, human speech for a more enjoyable AI interface.
• UX Improvements. The app menus and screens have been fine tuned and clarified on both versions.

The Lucyd app's new streamlined interface featuring integrated shopping with

user accounts synced with Lucyd.co. Image courtesy Innovative Eyewear, Inc.

In advance of any significant marketing effort, the Lucyd app has been downloaded approximately 15,000 times. A paid Pro version of the app allows users to subscribe for $7.99/month to raise the number of ChatGPT queries permitted per day from 30 to unlimited and provides the ability to create secure Walkie channels for business applications.

To see the Lucyd app in action or download it, visit Lucyd.co or search "Lucyd" in the App Store or Google Play Store.

Harrison Gross, CEO of Innovative Eyewear said:

"We are advancing our goal to make the Lucyd app a powerful companion to our products, that enhances user enjoyment and product utility. While Lucyd frames are a device-agnostic accessory that provides a valuable interface for the majority of computing platforms, the app provides a deeper feature set for the power user, giving them an attractive and streamlined range of smart features to expand their Lucyd Eyewear experience. The app is also an incredible platform enabling us to develop specific features for different segments of the smart eyewear market, such as the Walkie feature for Lucyd Armor, and are planned fitness utilities to complement our Reebok smart eyewear."

About Innovative Eyewear Inc.

Tekcapital currently owns 259,455 shares of Innovative Eyewear, Inc. (NASDAQ: LUCY).

Clifford M. Gross, Ph.D.

Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees (Corporate Broking)

Tim Thompson/Andrea Seymour/Fergus Mellon