Result of Placing and Total Voting Rights

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NetScientific PLC

(“NetScientific” or the “Company”)

Result of Placing and Total Voting Rights

NetScientific, the life sciences and sustainability technology investment and commercialisation group, is pleased to announce that it has raised gross proceeds of approximately £1.5 million in a fundraising as announced yesterday (the “Placing”).

A total of 2,238,807 Placing Shares in the Company have been conditionally placed by WH Ireland Limited (“WH Ireland”) with new and existing investors at a price of 67 pence per share (the “Placing Price”).

Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and it is anticipated that dealings in the Placing Shares will commence on AIM at 8.00 a.m. on 27 June 2022 (“Admission”). The Placing Shares will represent approximately 9.6 per cent. of the Company’s issued share capital following completion of the Placing (“Enlarged Share Capital”). The Placing Price represents a discount of approximately 10.6 per cent. to the closing mid-market price of NetScientific’s existing ordinary shares of 75 pence on 20 June 2022 (being the last business day prior to the announcement of the Placing yesterday).

The Placing is subject to Admission becoming effective and the Placing Agreement becoming unconditional and not being terminated in accordance with its terms.

Related Party Transactions

Entities associated with Melvin Lawson, a substantial shareholder in the Company, have subscribed for 485,074 Placing Shares at the Placing Price. The participation of Melvin Lawson and his associated parties is deemed to be a related party transaction pursuant to the AIM Rules for Companies. The independent Directors of the Company, being Dr. Ilian Iliev, John Clarkson, Clive Sparrow and Professor Stephen Smith, consider, having consulted with the Company’s nominated adviser, WH Ireland, that the participation of Melvin Lawson and his associated parties pursuant to the Fundraising is fair and reasonable so far as the shareholders of the Company are concerned.

Following Admission, the Company’s issued and fully paid share capital will consist of 23,360,660 Ordinary Shares, all of which carry one voting right per share. The Company does not hold any Ordinary Shares in treasury. The figure of 23,360,660 Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

Capitalised terms used but not defined in this announcement have the meanings given to them in the Company’s announcement released yesterday in respect of the Placing unless the context provides otherwise.

John Clarkson, Executive Chairman, commented: “The Board is grateful to investors for their support with this fundraising, which further strengthens the Company’s position and facilitates the continuation of its successful growth strategy.”

Ilian Iliev , Chief Executive Officer, stated: “We are grateful for the support from our shareholders in this difficult macro-economic climate and look forward to deploying these funds to develop the Company’s growth strategy.”

Enquiries:

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (“MAR”). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.