INS.L Regulatory News (INS)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Instem plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

 X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation:

 Alto Invest

4. Full name of shareholder(s) (if different from 3.):

INNOVALTO 2015 fund

FORTUNE EUROPE 2014 fund

OBJECTIF EUROPE fund

FORTUNE EUROPE 2015 fund

5. Date of the transaction and date on which the threshold is crossed or reached:

22 February 2016

6. Date on which issuer notified:

22 February 2016

7. Threshold(s) that is/are crossed or reached:

Above 5%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

 Ordinary

823,692

823,692

823,692

 5.30%

 GB00B3TQCK30

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/ConversionPeriod

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate

Exercise/Conversionperiod

Number of votingrights instrumentrefers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

823,692

5.30%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:

Innovalto 2015 fund 176,071 shares/voting rights (1.13%)

Fortune Europe 2014 fund 250,000 shares/voting rights (1.61%)

Objectif Europe fund 158,170 shares/voting rights (1.02%)

Fortune Europe 2015 fund 239,451 shares/voting rights (1.54%)

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

This disclosure has been calculated based on total voting rights outstanding amount 15,550,217.

14. Contact name:

Antoine Valdes

15. Contact telephone number:

0033 (0)1 39 54 35 67