Conditional Allotment and Issue of Placing

6 October 2023

Belluscura plc

("Belluscura" or the "Company")

Conditional Allotment and Issue of Placing Loan Notes and Placing Shares

Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces that, further to its announcement of 3 October 2023, the Company has today allotted and issued (i) £2,722,500 (US$3,294,223) principal of Placing Loan Notes at par and (ii) 1,862,500 Placing Shares at an issue price of 32 pence per share.

The allotments remain conditional upon Admission of the Placing Shares to trading on AIM becoming effective. Application has been made for the Placing Shares to be admitted to AIM ("Admission") and it is expected that Admission will take place at 8.00 a.m. on 9 October 2023.

Total Voting Rights

The Company's total issued capital, after the issue of the Placing Shares, will be 137,532,567 ordinary shares. As the Company does not hold any shares in treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement (replacement) made by the Company at 18:28. on 3 October 2023.

For the purposes of this announcement, a currency exchange rate of £1 = $1.21 has been used.

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About Belluscura plc (www.Belluscura.com)

Belluscura is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health and economic outcomes for the patients, healthcare providers and insurance organisations.