Announcement • May 27
Nanoco Group PLC Announces Intention to Delist Ordinary Shares from the Main Market of the London Stock Exchange Nanoco Group PLC announced its intention to delist from the Main Market of the London Stock Exchange. Since the announcement on 26 January 2026 relating to the termination of the process of finding a purchaser for the Group's trading business, the Board has been considering various options to both maximise shareholder value and preserve the Company's cash balances. The Board believes that by taking further measures to reduce the Company's operating costs and carefully investing its remaining resources in existing high-potential business areas, greater value can be generated for Shareholders. In order to further reduce operating costs, the Board has decided to seek Shareholder approval for the proposed cancellation of the Ordinary Shares from the Official List and from admission to trading on the main market for listed securities of the London Stock Exchange (the "Cancellation") while maintaining the ability for Shareholders to continue to be able to trade in Ordinary Shares through the Matched Bargain Facility described below. Such cancellation is expected to result in a further annual cost savings of £0.7 million. Although the Company had a cash balance of £10.1 million as at 19 May 2026 and the Company is neither currently experiencing any financial difficulty nor is it expected to in the near term, these cost savings will extend the Group's cash runway, with a view to being break even in the medium term. Additionally, this will also free up significant resource which can be allocated to the achievement of the Group's strategic objectives. Conversely, were these cost savings to not be achieved, and were there further delays in the commercialisation of the Company's products, the Group's ability to break even in the medium term and achieve its strategic objectives would be further hindered by the current cost and resource burden associated with being a listed company. Following the proposed Cancellation, it is proposed to re-register the Company as a private limited company (the "Re-registration") and to adopt new articles of association to reflect the change in the Company's status to a private limited company. As both the Cancellation and the Registration require the approval of not less than 75 per cent. of the votes cast by Shareholders (whether present in person or by proxy) at a General Meeting, a circular (the "Circular") has today been dispatched to Shareholders containing further detail about the Cancellation and the Re-registration and convening a general meeting to be held at 10.30 a.m. on 19 June 2026 for the purposes of obtaining the necessary approvals. New Risk • May 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Negative equity (-UK£17m). Market cap is less than US$100m (UK£13.0m market cap, or US$17.5m). Board Change • May 07
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Chris Batterham was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 