TekCapital Regulatory News (TEK)

1 August 2023

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Innovative Eyewear, Inc. Launches the Lucyd Blueshift Lens

for Enhanced Eye Protection and Comfort

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group announces that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, is pleased to announce the launch of a new transitional blue light blocking lens designed to maximize utility, eye protection and user satisfaction of Lucyd eyewear.

The Lucyd Blueshift lens is an exclusive new lens upgrade offered with Lucyd eyewear, custom-developed by the Company, that provides the following benefits:

• The lens is photochromic, and tints to a polarized sunglass in bright environments, while remaining clear indoors. The lens will tint even without exposure to UV light, which is required to activate many other photo-sensitive lenses. This means they will darken behind a UV-blocking windshield and can be used for eye protection while driving.

• At the company's in-house lens lab, each lens has manually applied a special blue light blocking layer that does not disrupt the lenses' ability to transition to a sunglass. This additional coating provides an average of 40% filtration of harmful blue light, according to independent testing from Colts Labs.

• Unlike many other lenses offering this degree of blue light filtration, the lens does not have a significant yellow or amber tint, and is fully clear indoors. The resulting product is an ideal lens for mixed indoor/outdoor, on-screen and off-screen use.

• The Blueshift lens is available in both non-Rx and in any prescription, including progressive.

Photo courtesy of Innovative Eyewear Inc.

Harrison Gross, CEO of Innovative Eyewear Inc., commented:

"I am thrilled to announce another engineering feat from our dedicated team, who are always striving to help our customers get the most out of the glasses they wear every day. The new Blueshift lens makes our eyewear suitable for use in almost any environment and at any light level. We believe this lens is an important enhancement for all-day wearability, allowing the user to seamlessly shift from blocking harmful blue light during computer and phone use, to enjoying driving and outdoor activities comfortably in high sunlight. We believe this exciting new upgrade, in tandem with our recently released Lucyd app which made our eyewear the first to be ChatGPT-enabled, further expands the tech advantages of Lucyd Eyewear over competing products."

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co..

Tekcapital currently owns 5,189,086 shares of Innovative Eyewear, Inc. (approximately 40%).

For further information, please contact:

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or Lucyd's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Innovative Eyewear Inc., Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Other than as required by relevant regulation or law, neither Innovative Eyewear Inc, Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.