Warwick Acoustics Update

Mercia Asset Management PLC

("Mercia" the "Company" or the "Group")

Warwick Acoustics technology features in world's first automotive electrostatic audio system

Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused private asset manager with over £2.0 billion of assets under management, is pleased to announce that Warwick Acoustics Limited ("Warwick Acoustics"), one of its direct portfolio companies, is supplying components for an automotive electrostatic audio system. The "SV Electrostatic Sound" system was announced today by Range Rover.

The launch marks a major commercial milestone for Warwick Acoustics. It follows more than a decade of technology development, strategic support and backing from Mercia and represents the transition of Warwick Acoustics' electrostatic audio technology into commercial production vehicles.

Mercia holds a fully diluted direct stake of 30.7% in Warwick Acoustics.

Mark Payton, CEO of Mercia Asset Management PLC, said: "This is a landmark achievement for Warwick Acoustics, one of Mercia's largest direct investment holdings. After more than a decade of development, this launch represents the point at which deep-tech innovation and persistence have translated into commercial production with a global automotive manufacturer.

"This is a powerful example of the commercial and technical progress being delivered across Mercia's direct investment portfolio."

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 and as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

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For further information, please contact:

Mercia Asset Management PLC

Mark Payton, Chief Executive Officer

Martin Glanfield, Chief Financial Officer

www.mercia.co.uk +44 (0)330 223 1430

Canaccord Genuity Limited (NOMAD and Joint Broker)

Simon Bridges, Emma Gabriel, Harry Rees +44 (0)20 7523 8000

Singer Capital Markets (Joint Broker)

Charles Leigh-Pemberton +44 (0)20 7496 3000

FTI Consulting

Tom Blackwell, Thomas Lodge +44 (0)20 3727 1051

[email protected]

About Mercia Asset Management PLC

Mercia is a private capital asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of venture, development capital, property finance and proprietary capital: the Group's 'Complete Connected Capital'.

The Group has a strong UK footprint through its 11 regional offices, extensive local adviser and personal networks, and university partnerships, providing it with access to high-quality deal flow.

Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".