TekCapital Regulatory News (TEK)

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2 March 2023

Tekcapital Plc

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

Innovative Eyewear, Inc. Launches New Titanium Styles of Lucyd Lyte® 2.0 

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group notes that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica® and Eddie Bauer® brands, announces today that five new styles of Lucyd Lyte 2.0 audio eyewear are now available. These new styles are an addition to the 10 styles of Lyte 2.0 introduced in early February. On top of including the major feature upgrades of the Lyte 2.0 such as 12 hours playback per charge, this collection update brings several new design aesthetics to the Lucyd Lyte 2.0 line and the smart eyewear market overall:

Ø The Electra frame introduces the first smart eyewear with a two-tone titanium frontplate, bringing the category to a new height of luxurious finishes.

Ø The Shimmer frame introduces the first smart eyewear on the US market in a rose gold titanium colour.

Ø The Earthbound introduces the best-selling clubmaster style in a Bluetooth format, another first for the US smart eyewear market.

Ø The Starlyte style is a key addition developed based on user demand for a cateye style designed for women.

With the introduction of these frames, Lucyd Lyte 2.0 eyewear is now available in 15 distinct styles, the most of any smart eyewear on the US market since the company's Lyte 1.0 collection. The combination of two different temple lengths, seven styles designed specifically for women, and three styles designed for petite heads, truly open the typically adult male-oriented smart eyewear category to new demographics for the first time.

"With these five new styles of Lyte 2.0 smart eyewear, we are continuing to make the category more accessible than ever before, particularly to women and petite customers by giving them the sizing and styles they need," says Harrison Gross, CEO of Innovative Eyewear. "A great pair of smartglasses is defined by three key factors: fashion, tech and suitability for all-day vision correction. The Lyte 2.0 collection addresses this successfully by offering smart frames with seamless, user-friendly Bluetooth features, high-end designer styling in a large number of shapes and sizes, and the comfort necessary for all-day wear."

Watch a video of the new glasses here. Interested retailers are encouraged to visit our booth #P1951 at Vision Expo East 2023 in New York City, or to contact us at info@lucyd.co.

In other news, the popular tech and entertainment site ScreenRant (90m+ monthly visitors) just rated Lucyd Lyte 1.0 eyewear the best on the market.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear, under the Lucyd®, Nautica® & Eddie Bauer® 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 (approximately 68%) of Innovative Eyewear, Inc. 

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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.