IntelliAM AI PLC - Acquisition

4 July 2024

IntelliAM AI plc

("IntelliAM" or the "Company")

Completion of 53 North acquisition

and

Issue of Consideration Shares and Options

and

PDMR Dealings

and

Total Voting Rights

IntelliAM AI plc (AQSE: INT), the software company leveraging the power of AI and machine learning in the manufacturing industry, is pleased to confirm the completion of the acquisition of 53 Degrees North Engineering Limited ("53 North") today.

Issue of Consideration Shares:

The Company has issued 2,759,042 new Ordinary Shares to the founders of 53 North as part of the consideration, further details of which are set out in the Company's Admission Document at: https://intelliam.ai/investor-relations/

Application for the consideration shares to be admitted to trading on Aquis Stock Exchange has been made and trading of the consideration shares is expected to become effective at 8.00 a.m. today. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

PDMR Dealing:

Following the issue of the consideration shares, the shareholdings of certain Directors and other PDMR's are as follows:

PDMR Dealing: Issue of Options

Following the completion of the acquisition, the Directors and other PDMR's have been issued the following share options to subscribe for new Ordinary Shares in the Company:

All share options have an exercise price of 94p, being the issue price of the fundraising announced on Admission. A third of the share options will vest on each of the first, second and third anniversary from Completion

Additional share options to subscribe for 113,600 new Ordinary Shares have also been issued today to other employees of the Company, vesting on the same conditions above. Therefore the Company has a total of 559,600 share options in issue, representing 2.92% of the Company's issued share capital.

The table for notification and public disclosure of transactions by persons discharging managerial responsibilities in accordance with the requirements of the EU Market Abuse Regulation, which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018, is appended below.

Total Voting Rights:

Following the issue of Consideration Shares the Company's issued share capital will comprise 19,141,576 ordinary shares of £0.005 each. The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules. The Company does not hold any Ordinary Shares in treasury.

About IntelliAM

IntelliAM uses AI models to proactively increase operating efficiency of the existing assets of the Company's manufacturing clients. The Group achieves this by harnessing vast amounts of data from the client's machines and operational systems processed through the IntelliAM platform to provide actionable insights for clients that encompass a broad range of areas, such as productivity, reliability and supply-chain optimisation, as well as energy efficiency and sustainability.