TERN PLC

Share Issue/Capital Change • Apr 6, 2022

National Storage Mechanism | Additional information

RNS Number : 4546H

Tern PLC

06 April 2022

6 April 2022

Tern Plc

("Tern" or the "Company")

Further re. Wyld Networks Warrant Exercise

Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, is pleased to note that, following the Company's announcement on 28 March 2022, Wyld Networks AB ("Wyld Networks") has announced that approximately 98.6% of its outstanding TO1 Warrants have been exercised, providing approximately SEK 25.2 million (approximately £2.0 million), before issuing costs, to Wyld Networks.

As previously announced, Tern has exercised all of its TO1 Warrants to subscribe for 320,454 shares in Wyld Networks at SEK 11.25 per share, for a total cost of SEK 3,605,108 (approximately £290,000), funded from Tern's existing cash resources.  The TO1 Warrants were issued to the Company pursuant to its investment as part of Wyld Networks' Offering in conjunction with its IPO and admission to trading on the NASDAQ First North Growth Market in Stockholm on 2 July 2021.

Prior to the completion of the TO1 Warrant exercises Tern held 58.7% of Wyld Networks' issued share capital.  Following the completion of the TO1 Warrant exercises Tern's holding in Wyld Networks has reduced to 49.2% of Wyld Network's issued share capital.

Capitalised terms not otherwise defined herein have the same meaning as in the Company's announcement "Proposed IPO of Wyld Networks" made on 9 June 2021.

Enquiries

Tern Plc Al Sisto (CEO) Sarah Payne (CFO)	via IFC Advisory
Allenby Capital Limited (Nominated Adviser and Broker) David Worlidge / Alex Brearley (Corporate Finance) Matt Butlin / Kelly Gardiner (Sales and Corporate Broking)	Tel: 0203 328 5656
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Chandler	Tel: 0203 934 6630 tern@investor-focus.co.uk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEAXLKEEFAEEA