14 November 2024

HeiQ Plc

("HeiQ" or "the Company")

Update on Delisting and Potential Capital Raise

Further to the announcement on 22 October 2024 regarding HeiQ Plc's delisting from the London Stock Exchange ("LSE"), the Company wishes to update shareholders on the next steps following its scheduled delisting on 19th November 2024.

Last trading day at LSE

As it is anticipated that the delisting will become effective at 08:00 a.m. (GMT) on 19 November, 2024, the last effective trading day of HeiQ Plc shares ('Ordinary Shares') on the LSE will be Monday 18 November 2024.

Strengthening of financial foundation by means of a capital raise

In alignment with our strategic restructuring and ongoing efforts to reposition the Company for long-term growth, HeiQ is currently preparing for a capital raise in the coming weeks via an open offer to all current shareholders. This anticipated capital raise is designed to strengthen HeiQ's financial foundation and support our ambitious venture scale-up plans to deliver value to all stakeholders.

Therefore, HeiQ has initiated discussions with selected independent investors who have expressed interest in supporting the Company during this transition and beyond. It is anticipated that a number of investors will formally underwrite the capital raise, providing assurance and confidence in our strategy.

Further details regarding the capital raise and open offer terms will be provided to shareholders in due course as we progress toward finalizing these arrangements. The Board remains committed to ensuring that all shareholders are afforded an opportunity to participate in the Company's future.

Secondary trading post-delisting

The Company has now appointed Asset Match (www.assetmatch.com) to facilitate trading in the Ordinary Shares following delisting. Asset Match, a firm authorized and regulated by the Financial Conduct Authority (FRN 579310), will operate an electronic off-market dealing facility for the Ordinary Shares. This facility will allow existing holders of Ordinary Shares in the Company ("Shareholders") and new investors to trade Ordinary Shares by matching buyers and sellers through periodic auctions.

Investors are encouraged to register on www.assetmatch.com and add HeiQ to their 'Watchlist' to continue to receive Company updates and auction/price information. Please note the HeiQ page on the Asset Match website will go live on 19 November 2024, while the investor page on HeiQs website will reflect the private status of HeiQ going forward.

The Asset Match trading facility operates under its own code of practice which governs the behaviour of participants and the running of the periodic auctions. Asset Match operates an open auction system where volumes of bids and offers at different prices are displayed on its website together with the closing date of the auction. At the end of each auction period, Asset Match passes this information through a non-discretionary algorithm that determines a "market-derived" share price based on supply and demand and allocates transactions accordingly. Bids and offers may be made and withdrawn at any time before the closing date of each auction.

Shareholders will continue to be able to hold their shares in uncertificated form (i.e. in CREST) and should check with their existing stockbroker whether they are willing or able to trade in unquoted shares. Shareholders wishing to trade shares through Asset Match must do so through a stockbroker. A comprehensive list of stockbrokers who have signed up to access the Asset Match platform is available on request.

Shareholders may contact Asset Match in relation to any queries regarding trading via the secondary market trading facility by emailing dealing@assetmatch.com or calling Ben Weaver on 020 7248 2788

The Board would like to thank shareholders for their continued support and will provide additional updates as appropriate.

For further information, please contact:

Rita Brandao

investors@heiq.com