Portfolio Company Update - Innovative Eyewear Inc.

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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

6th May 2025

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Innovative Eyewear Inc. Partners with Eye Recommend

a Network of 600+ Independent Optometry Stores

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, has announced it has partnered with Eye Recommend to provide its smart eyewear to independent optical practices across Canada.

Lucyd Moonbeam Model - Image courtesy of Innovative Eyewear Inc.

Buying groups like Eye Recommend serve an important function in the optical industry landscape, making it easier for independent optometrists to access a large variety of frame and lens products with consolidated billing. Eye Recommend also provides continuing education training and other essential resources to eye care professionals.

Harrison Gross, CEO of Innovative Eyewear said, "I am truly pleased to partner with Eye Recommend to deliver our cutting-edge smart eyewear to patients across Canada. Together we will work to introduce smart eyewear into hundreds of optical stores, bringing them the unique blend of sight, sound and connectivity that only Lucyd Eyewear offers. Additionally, we are very excited to offer our Lucyd Armor™ smart safety glasses in more Canadian points of sale, following our recent CSA (Canadian Standards Association) safety certification for use in Canadian workplaces."

Lee Raffey, CEO at Eye Recommend, said "At Eye Recommend, we're committed to delivering exceptional value to our members, and this partnership reflects that promise. By welcoming a forward-thinking eyewear brand into our offerings, we're empowering our practices with access to cutting-edge products that enhance patient experience and support business growth. "

About Innovative Eyewear Inc.

Innovative Eyewear is a developer and retailer of ChatGPT smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth smart glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.

About Eye Recommend

Eye Recommend is a network of independent optometry clinics across Canada. They are a cooperative dedicated to providing value and expertise to its members. They leverage the power of their network to bring the best technology, resources, and services to provide its members the advantages required to grow their independent clinics. Their resources extend beyond typical buying group functions and include MyDryEye.ca, MyMyopia.ca, Eye Care Collective buying group, Jobs4ECPs.com, and Optometry Unleashed podcast. Eye Recommend members remain committed to improving patient eye care through continued education, training, and technology. To learn more please visit www.eyerecommend.ca

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

LEI: 213800GOJTOV19FIFZ85

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

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Forward-Looking Statements

This press release contains certain forward-looking statements, including those relating to the anticipated introduction of new points of sale. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the expected launch date for the new smart safety eyewear connection. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors."