Finance update

LONDON, U.K. AND NEW YORK, U.S. (24 November 2025). Trellus Health® plc (AIM: TRLS), a healthcare company delivering Trellus Elevate®, a digital platform that integrates data analytics with personalised, scientifically proven resilience programs and value-based solutions to manage complex chronic conditions, announces it has entered into a unsecured loan agreement with the Company's long standing substantial shareholder, Icahn School of Medicine at Mount Sinai ("Mount Sinai"), with a principal amount of US$600,000 (the "Loan Note").

Loan Note Terms

The Loan Note will be non-interest bearing for the first six months. Thereafter, it will accrue interest at an annual rate of 8%, payable in either new ordinary shares of 0.06 pence each ("Ordinary Shares") or cash, at the Company's discretion, upon conversion of the principal amount of the Loan Note.

The term of the Loan Note is 12 months, at which point the Company may elect to redeem, convert into Ordinary Shares, or apply a combination of both at a conversion price of 0.525 pence, being the 5-day mid-market price of the Company's shares ending on the business day prior to signing the Loan Note.

Under the terms of the Loan Note, any conversion into Ordinary Shares is subject to a cap preventing Mount Sinai from holding more than 29.9% of the Company's issued share capital. This restriction applies to both the principal and any accrued interest.

Cash Runway

The proceeds from the Loan Note will support the continued execution of the Company's commercial strategy and extend its near-term cash runway to late January 2026. The Company remains in active discussions regarding a potential equity fundraising to extend the cash runway further. While these discussions are at an advanced stage, there is no guarantee that they will be concluded successfully or within the required timeframe.

The Company continues to focus on securing additional commercial contracts with pharmaceutical companies and Contract Research Organizations ("CROs"). Illustrative contract values typically range in total between $500k and $1 million for pharma and between $150k and $500k for CROs, excluding performance incentive fees.

Related Party Transaction

The Loan Note is deemed to be related party transaction under AIM Rule 13 of the AIM Rules for Companies. Mount Sinai is a substantial shareholder holding 40,384,897 Ordinary Shares equal to 25.0% of the issued share capital of the Company. The Company's Directors (excluding those who are connected to Mount Sinai) consider, having consulted with the Nominated Adviser, Singer Capital Markets, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.

Dr. Marla Dubinsky, Chief Executive Officer of Trellus Health, said: "We are extremely grateful for Mount Sinai's continued support, which enables us to focus on executing agreements with pharmaceutical companies and CROs. Over the past month, we have signed contracts with two leading global CROs, reaffirming both the value of our offering to the pharmaceutical sector and our ability to secure and deliver on partnerships with industry leaders in drug development and clinical research. We have already begun implementation for the Phase 2B and Phase 3 trials with these partners and expect to launch the initial TrialSet™ programs by year-end."