TekCapital Regulatory News (TEK)

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10 April 2025

Tekcapital Plc

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

Innovative Eyewear Inc. Receives EU Certification for Lucyd Armor™ Safety Glasses

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group notes that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer and retailer of ChatGPT enabled smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, has announced that that its Lucyd Armor™ smart safety glasses have been certified to meet European Union EN 166:2002 safety standards for workplace use.

Lucyd Armor has been a vital addition to the lineup of smart eyewear products produced by Innovative Eyewear, and since launching in Q4 2024 has quickly grown to become its fastest selling unit. The addition of the EU certification opens important European markets for the Lucyd Armor product, in addition to the US, Canadian and UK certifications which Innovative Eyewear has received. Lucyd Armor is unique on the market as the first smart safety glass with photochromic lenses, a full suite of smart features including a Walkie function, high-fidelity audio and Rx-adaptable lenses.

The safety eyewear market in Europe was $1.3b in 2024 and expected to reach a projected revenue of US$ 1.6b by 2030 with a compound annual growth rate of 3.5% from 2025 to 2030.[1] The European region accounted for 31.4% of the global safety eyewear market in 2024. Based on the feedback Innovative Eyewear received from potential customers at Vision Expo and the National Hardware Show, they are in discussions with a notable eyewear distributor to offer Lucyd Armor in Europe, and distributors for Innovative Eyewear's other frames in Asia and LATAM.

Innovative Eyewear believes international expansion centred on the Armor and pending Reebok Powered by Lucyd collection will be foundational to its growth efforts in 2025, particularly in the wake of the current US tariff situation. Goods shipped from the Company's manufacturing facilities in China directly to distributors, retailers and retail customers outside the US are not subject to US tariffs, and Innovative Eyewear believes it will have the opportunity to create a stronger footprint as there is less competition in markets outside the US, where smart eyewear is newer to market and tends to be available from fewer quality providers.

Innovative Eyewear also plans to introduce additional variants of Lucyd Armor later this year, including sunglass and full-range prescription versions, to complement the original photochromic lens version.

Lucyd Armor™ Highlights:

- The first smart safety glass for all-day wear providing eye protection and communication in one convenient device.

- Lightweight and flexible TR90 body for rugged durability.

- Open-ear audio technology with impressive sound for high-octane environments.

- Seamless voice assistant integration, including ChatGPT, empowering users with hands-free AI access.

- Streamlined touch controls for quick and easy call and music management.

- Built-in Walkie features for global VOIP conferencing with teammates.

Lucyd Armor aims to transform how teams communicate in any environment, from factories to construction sites and everything in between.

Lucyd Armor. Courtesy of Innovative Eyewear, Inc.

Lucyd Armor is available now on Lucyd.co in a variety of standard lenses and in prescriptions ranging from SPH -3 to +8. The product is also available on Amazon.

Harrison Gross, CEO & Co-Founder of Innovative Eyewear, commented: "Lucyd Armor™ has quickly grown to become our bestselling product, thanks to the unique mix of functionality, style and affordability it brings to the safety market. Unlike many of our other products which may be perceived as a "nice-to-have" upgrade, Lucyd Armor is unique among smart eyewear in that we believe it is a new "need-to-have" tool for working professionals worldwide, who need eye protection as well as handsfree comms and AI access. We look forward to working with hardware distributors and retailers to bring this new technology to hardworking folks across America, Europe and beyond."

About Innovative Eyewear Inc.

Innovative Eyewear is a developer and retailer of ChatGPT smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth smart 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.

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives. 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

Tekcapital currently owns 259,455 shares of Innovative Eyewear, Inc. (NASDAQ: LUCY).

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Forward-Looking Statements

This press release contains certain forward-looking statements, including those relating to the anticipated introduction of new products and features, and timing of improvements and enhancements to our current products. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the expected launch date for the new smart safety eyewear connection. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors."