Tern Plc :Statement re: Conversion of Loan Note

16 February 2018

Tern Plc (the "Company", or the "Group")

Conversion of Loan Note

Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), announces that it will issue and allott 13,750,000 Ordinary Shares of 0.02 pence each ("Ordinary Shares") at a price of 2.0p pursuant to the conversion of £275,000 of the loan note which was announced on 9 January 2018.

As previously announced, the funds raised will be used to maintain the Company's current position in its portfolio companies and for general working capital.

Application will be made for the 13,750,000 new Ordinary Shares to be admitted to trading on AIM and it is expected that admission will take place on or around 8:00 a.m. on 22 February 2018 ("Admission").

In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission its issued share capital will consist of 186,651,140 Ordinary Shares of 0.02 pence each. The Company does not hold any shares in treasury. Shareholders may use these figures as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

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