Further investment in Ixico plc

15 April 2021

CIP MERCHANT CAPITAL LIMITED

("CIP" or the "Company")

Further investment in Ixico plc

CIP is pleased to announce that, further to its announcement of 12 April 2021, it has acquired a further 1,440,000 ordinary shares of 1p each in Ixico plc (AIM: IXI) ("Ixico"), the artificial intelligence data analytics company delivering insights in neuroscience, for a total consideration of approximately £1.1 million.

Accordingly, CIP is now interested in, in aggregate, 3,224,500 ordinary shares of Ixico, representing approximately 6.72 per cent. of Ixico's issued share capital.

As noted previously, for its financial year ended 30 September 2020, Ixico achieved revenue of £9.53 million, gross profit of £6.35 million, a profit on ordinary activities before taxation of £0.86 million and a net profit attributable to its equity holders of £0.95 million. As at 30 September 2020, Ixico had cash and cash equivalents of £7.95 million and net assets of £9.12 million. Currently, Ixico has a market capitalisation of approximately £35.26 million.

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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018.