Device Authority convertible loan note extension

4 July 2023

Tern Plc

("Tern" or the "Company")

Device Authority convertible loan note extension

Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things ("IoT") technology businesses, announces that the maturity date of the Device Authority Limited ("Device Authority") Convertible Notes, as announced on 28 October 2022, has been extended to 31 December 2023 from 30 June 2023.  Tern currently owns 53.8% of the Device Authority equity.

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company at 7.45 a.m. on 28 October 2022.

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