Xeros Tech Grp plc - Exercise of Warrants, Issue of Equity and TVR

Xeros Technology Group plc

('Xeros", the "Company" or the "Group")

Exercise of Warrants, Issue of Equity

and

Total  Voting Rights

Successful warrant process raises c.£1.68 million additional cash for the Company

Xeros Technology Group plc (AIM: XSG), the creator of technologies that reduce the impact of clothing on the planet, announces that further to the amendments to the terms of the warrants to subscribe for ordinary share of 0.1 pence each (respectively "Warrants" and "Ordinary Shares") as approved by warrant holders on 21 December 2023, the Company has issued 44,961,489 new Ordinary Shares following receipt of valid notices of exercise at the amended Warrant exercise price of 2.85 pence per Ordinary Shares. 16,065,575 of these new Ordinary Shares will be admitted to trading on AIM by way of the Company's existing block admission arrangements, and separate application for the remaining 28,895,914 Ordinary Shares has been made by the Company, with admission to trading on AIM expected to occur on 7 February 2024 ("Admission").

Warrants Now Expired

The final exercise date for the Warrants was 31 January 2024 at 5.00 pm. In aggregate, the Company received valid exercise notices in respect of 58,916,729 Warrants in total, raising c.£1.68 million during the exercise period. The remaining 68,078,911* Warrants have now expired.

Total Voting Rights

Following Admission, the Company's issued share capital will consist of 209,896,852 Ordinary Shares with voting rights, with no shares held in treasury. This figure may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to (i) the Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.

Enquiries

*200,000 Warrants were unable to be issued following the Fundraise in September 2022 due to the necessary registration details not being provided to the Company.

About Xeros

Xeros Technology plc has developed patented and proven, industry-leading technologies which reduce the environmental impact of how industries make and care for clothes.

The traditional wet processing methods used in industrial and domestic laundry and garment manufacturing consume billions of litres of fresh water and large amounts of energy and chemicals, as well as damaging and weakening clothing fibres and creating rising levels of environmental pollution. It is estimated that washing machines contribute 35% of the 171 trillion microplastic particles in the ocean.

A range of actors, including consumers, the media NGOs and regulators are exerting pressure on these industries, with legislative action beginning to be taken.

Xeros' three main technologies, Filtration, Finish, and Care, facilitate garment manufacturers, industrial laundries, domestic washing machine manufacturers and consumers, to reduce their environmental impact, whilst also significantly improving efficiency in the process.

Xeros' model is to generate revenue from licensing its technologies, generating royalties and the sale of consumables. Currently there are 8 agreements in place. The addressable markets in Filtration, Finish and Care are estimated to be valued at £350m p.a., £132m p.a. and £3bn p.a. respectively.