TERN PLC

Capital/Financing Update • Dec 31, 2018

Tern PLC (TERN)

31-Dec-2018 / 07:00 GMT/BST

Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

31 December 2018

Tern Plc (the "Company", or the "Group") Extension of Device Authority Conver%ble Note Maturity Date

Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), announces that all loan noteholders in Tern's por#olio company, Device Authority Limited ("DA"), have agreed to extend the maturity date of all outstanding conver'ble [secured] loan notes provided to DA to 30 June 2019 (the "DA Loan").

The total funds secured by DA through these facili'es from DA's exis'ng shareholders, including Tern, is US\$2,890,650. Tern's total conver'ble secured loan note posi'on with DA, which is now repayable on 30 June 2019, is US\$1,700,867, excluding interest accrued to date. All exis'ng repayment and conversion rights, automa'c and at the holder's op'on, have also been extended to 30 June 2019. Further details regarding the terms of the DA Loan can be found in the Company's announcement dated 14 September 2018.

Al Sisto, CEO of Tern, said: "We are very pleased to con'nue supporting DA, along with the other loan noteholders, given the progress it has been making with its marke'ng partners in securing contracts. Most recently, we announced that DA had won a five year contract an'cipated to be worth in excess of \$1 million over its life'me and we look forward to repor'ng on DA's future achievements as it con'nues to expand its presence and recogni'on within the IoT security market."

This announcement contains inside informaon for the purposes of Arcle 7 of EU Regulaon 596/2014

Enquiries
Tern Plc	via Newgate Communica'ons
Al Sisto/Sarah Payne
Allenby Capital (Nomad and joint broker) David Worlidge/Alex Brearley	Tel: 020 3328 5656
Whitman Howard (Joint broker) Nick Lovering/Christopher Furness	Tel: 020 7659 1234
Newgate Communica%ons Elisabeth Cowell/Fiona Norman	Tel: 020 3757 6880

ISIN: GB00BFPMV798 Category Code:MSCM TIDM: TERN LEICode: 2138005F87SODHL9CQ36 Sequence No.: 7064 EQS News ID: 762625

End ofAnnouncementEQS News Service