FOR IMMEDIATE RELEASE                                                                                                            17 May 2022

Nanoco Group PLC

("Nanoco, the "Group", or the "Company")

Litigation Update - PTAB uphold all 47 Nanoco patent claims

Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, announces a significant update to its litigation against Samsung for the willful infringement of the Group's IP.

The US Patent Trial and Appeal Board ('PTAB') has ruled in favour of Nanoco in respect of all 47 claims in the five patents that were subject to inter partes review (IPRs) in the case.

As previously announced, Samsung had applied to the PTAB requesting the institution of IPRs of each of the five patents in the case. An IPR is a standard part of IP litigation and examines the validity of the patents themselves. It often runs in parallel with the judicial process. In May 2021, PTAB announced its decision to institute IPRs over the five patents.

The Board and its advisers are reviewing the detailed ruling by the PTAB with respect to all of the claims and patents. While Samsung can be expected to appeal the final PTAB decisions, the Company believes it is likely that the stay on the court process will now be lifted at the hearing scheduled for 2 June 2022 in the Eastern District of Texas. If the stay is lifted, pre-trial motions will then be considered by the judge and the Company expects a revised trial date to be scheduled for the fourth quarter of calendar year 2022.

Brian Tenner, Chief Executive Officer of Nanoco Group plc, said:

"The strength of Nanoco's case has been amply demonstrated by the PTAB finding in favour of every single one of the 47 claims under the five patents. The question of the validity of our intellectual property has now been very clearly resolved in favour of Nanoco.

"As a result, the trial can now focus on the issue of Samsung's alleged wilful infringement and the appropriate level of damages.

"Nanoco has overcome the first of two major hurdles in the litigation, the validity of our IP. As a result, our confidence in this case has increased further. While there is still much to be done, successfully overcoming this hurdle allows a straight run in to a trial later in 2022. A favourable trial outcome should then deliver a substantial inflection point for Nanoco's prospects and shareholder value."

- Ends -

For further information, please contact:

Nanoco Group PLC:

Brian Tenner, CEO                                                                                                                +44 (0) 161 603 7900

Liam Gray, CFO & Company Secretary                                                                             +44 (0) 161 603 7900

Peel Hunt:

Edward Knight                                                                                                                      +44 (0) 20 7418 8900

James Smith

MHP Communications:                                                                                                      +44 (0) 203 128 8990

Reg Hoare

Pete Lambie

Charlie Protheroe

nanoco@mhpc.com 

The person responsible for arranging for the release of this announcement on behalf of Nanoco is Liam Gray, Company Secretary.

MAR

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Notes for editors:

About Nanoco Group plc

Nanoco (LSE: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 - 100 nm. Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots and other nano-materials. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display, Sensor and Electronics markets. An interesting property of quantum dots is their absorption spectrum. Nanoco's HEATWAVE™ quantum dots can be tuned to absorb light at different wavelengths across the near-infrared spectrum, rendering them useful for applications including image sensors. Another interesting property of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size. Nanoco's CFQD® quantum dots are free of cadmium and other toxic heavy metals, and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.

Nanoco was founded in 2001 and is headquartered in Manchester, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.

Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com.