Tern Regulatory News (TERN)

REACH

2 February 2023

Tern Plc

("Tern" or the "Company")

Proposed Wyld Networks Directorate Change

Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, notes that Wyld Networks AB ("Wyld Networks" or "Wyld") has today published a notice of Extraordinary General Meeting (the "Wyld Notice") for Wyld shareholders to vote on, inter alia, the appointment of Ramesh Kesanupalli to the Wyld board, as Al Sisto, having served as a Wyld board member for over four years, has indicated that he wishes to retire as a Wyld board member.  Ramesh Kesanupalli is an adviser to Tern and a director of Tern's portfolio company, Device Authority Limited.  Tern holds 41.2% of Wyld Networks' equity.

Extracted from the Wyld Notice

"Proposed resolutions:

Item 7 - Determination of the number of board members and deputy board members

The shareholder Tern Plc, representing 41.2 percent of the shares in the company (the "Shareholder"), proposes that the board of directors, for the period until the end of the next annual general meeting, shall consist of four board members with no deputy board members.

Item 8 -Election of new board member

Having served as a board member of the company for over four years, Albert Sisto has informed Wyld Networks AB that he wishes to retire as a board member. Therefore, the Shareholder proposes that Ramesh Kesanupalli is elected as new board member for the period until the end of the next annual general meeting. If the Extraordinary General Meeting resolves in accordance with the proposal, the board of directors will consist of Mats L Andersson (chairman), Mats R Andersson, Henrik Hedelius and Ramesh Kesanupalli.

Information regarding Ramesh Kesanupalli, born on 1 August 1965

Ramesh Kesanupalli is the Founder and CEO of Digital Trust Networks based in Santa Clara, California. He also founded Accountable Digital Identity Association standardizing Global Digital Identity Framework as an open standard. Ramesh also founded Fido Alliance, a global standard for passwordless authentication in the digital world. Ramesh was also the founder of Nok Nok Labs, which is the market leader for Fido authentication servers. Ramesh previously held the position of CTO of Validity Sensors, which was acquired by Synaptics. Earlier in his career, Ramesh also ran engineering, marketing and business development for Phoenix Technologies. He also cofounded a video streaming company, Network24 communications, which was acquired by Akamai. Ramesh also founded and ran the carrier middle software company Kinera/Telsima for nine years. Ramesh sits on the boards of Device Authority, GotrustID, ADI Association and Digital Trust Networks.

Ramesh brings vast Industry contacts globally, technology expertise in the communication space, vision and market reach.

Ramesh is independent in relation to the company and the senior management of the company. Ramesh is also independent in relation to the company's major shareholders.

Ramesh does not hold any financial instruments in the company.

Item 9 - Determination of board remuneration

The Shareholder proposes that board remuneration, in accordance with the renumeration levels decided by the Annual General Meeting 2022, shall be paid to Ramesh Kesanupalli for his work in the board of directors, in proportion to the duration of the assignment."

The full Wyld Notice may be accessed at:

https://wyldnetworks.com/investor-relations

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