Portfolio Company Update Innovative Eyewear

7 October 2025

Tekcapital Plc

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

Innovative Eyewear Reports International Expansion at SILMO Paris 2025

Securing Key European Distribution Partners

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group notes that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the manufacturer of smart eyewear under the Lucyd®, Lucyd ArmorTM, Reebok®, Eddie Bauer® and Nautica® brands, has announced significant progress in its European expansion strategy following successful participation at SILMO Paris 2025, one of the world's leading optics and eyewear trade shows held 26-29 September 2025.

The Lucyd booth at SILMO 2025. Image courtesy Innovative Eyewear, Inc.

Innovative Eyewear was prominently featured in SILMO's inaugural Tech Village, a dedicated smart eyewear and AI innovation pavilion that positioned Innovative Eyewear alongside global technology leaders including Meta, Google, and Snapchat.

Key Highlights from SILMO Paris 2025 include:

European Market Penetration: Secured initial orders from key European markets including the United Kingdom, Romania, Greece, Spain, and France, demonstrating strong pan-European demand for the Company's portfolio of smart eyewear brands.

Strategic EU Distribution: Opened a new warehouse in the Netherlands enabling VAT-free purchasing for EU businesses, significantly enhancing Lucyd's competitive positioning and accessibility across the 27 member states.

Industrial Safety Certification: The Lucyd Armor® Collection, now certified to meet EN 166 European safety standards for workplace eye protection, attracted significant interest from industrial distributors.

Regional Sales Representation: Innovative Eyewear initiated discussions with multiple sales representatives to establish dedicated representation across various EU countries.

Harrison Gross, CEO of Innovative Eyewear, said:

"SILMO Paris provided an exceptional platform to showcase our market-leading smart eyewear to European vendors and distributors. Being part of the first Tech Village alongside the world's largest technology companies validated our position as a pioneer in AI-enabled eyewear. The establishment of our Netherlands distribution hub represents a critical milestone in our international expansion strategy, enabling us to serve EU businesses more efficiently. With initial orders already secured from five European countries and active discussions with regional sales representatives, we're building the infrastructure necessary to capture significant market share in Europe's rapidly growing smart eyewear business. SILMO Paris attracted over 32,000 visitors from more than 130 countries, with 51% international attendance, making it one of the most important global gatherings for the optical industry. The Company's participation aligns with its strategic focus on international expansion, particularly as smart eyewear adoption accelerates in markets outside the United States, where pedestrian and public transit usage create ideal use cases for open-ear audio and AI assistance."

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 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 SILMO Paris 2025 exhibition. 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. 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."