Placing

7 October 2021

IQ-AI Ltd

(“IQ-AI” or the “Company”)

Placing

IQ-AI is pleased to announce that it has raised £620,000 through the placing of 12,400,000 new ordinary shares of 0.01p each in the Company (“Ordinary Shares”, the “Placing Shares”) at a price of 5 pence per Placing Share (the “Placing Price”, the “Placing”) through Peterhouse Capital Limited, the Company’s Financial Adviser and Broker.

Trevor Brown, CEO of IQ-AI, has subscribed £150,000 for 3,000,000 Placing Shares in the Placing. Following completion of the Placing, Trevor Brown will be interested in 52,813,236 Ordinary Shares, representing approximately 28.94 per cent of the Company’s enlarged issued ordinary share capital.

Subscribers in the Placing have been issued with warrants to subscribe for a further 12,400,000 Ordinary Shares at a price of 7.5p per share, exercisable for 3 months.

The net proceeds of the Placing will be invested in the continuing development of the Company’s Software Platforms, IB Zero G, IB Trax and IB CAD, and for general working capital purposes.

Application will be made for the Placing Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange (“Admission”). It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00am on or around 14 October 2021.

Following completion of the Placing, the Company’s issued share capital will consist of 182,507,609 Ordinary Shares. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.

The Directors of the Company accept responsibility for the contents of this announcement.

-ENDS-

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