THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED WITHIN IT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR 
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN ITACONIX PLC OR ANY OTHER ENTITY IN ANY JURISDICTION.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE RETAINED EU LAW VERSION OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (THE "UK MAR") WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. THE INFORMATION IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF THE UK MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Itaconix plc

(“Itaconix” or the “Company”)

Itaconix Completes New Funding to Support EU Volumes

Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in plant-based specialty polymers used as 
essential ingredients in everyday consumer products, is pleased to announce a placement of new 
ordinary shares to raise approximately £0.3 million by way of direct subscription with existing 
institutional shareholder IP Group entities (“IP Group”) and management (“Management”) (the “Fundraise”). The proceeds of the Fundraise will be used for general growth working capital, 
predominantly to strengthen finished goods inventories held in the EU to assure reliable and ready delivery times to EU customers.

The Company will issue and allot a total of 6,666,668 new ordinary shares (“New Ordinary Shares”) to 
satisfy the Fundraise at, in the case of IP Group, an issue price of 4.5 pence per share and, in the case 
of the Management, an equivalent price of 5.9 US cents per share which, at a deemed $/£ exchange 
rate of 1.305, represents a price of 4.5 pence per Ordinary Share. The issue price of 4.5 pence 
represents a 10.9 per cent. discount to the closing mid market share price on 21 April 2022 of 5.05 
pence, and a premium of 1.0 per cent. to the 30 business day LSE volume weighted average price to 
21 April 2022 of 4.4552 pence. The New Ordinary Shares are being issued pursuant to the shareholder authorities granted to the Directors at the Company's 2021 AGM.

Application is being made to the London Stock Exchange for these New Ordinary Shares, which will 
rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM. 
Dealings in the New Ordinary Shares on AIM are expected to commence at 8:00 a.m. on 27 April 2022.

Related Party Transaction

IP Group has agreed to subscribe for 5,555,556 New Ordinary Shares (being £250,000.02) pursuant to the Fundraise. As at the date of this announcement (prior to completion of the Fundraise), IP Group 
holds in aggregate 50,357,638 existing ordinary shares representing approximately 11.36 per cent. of 
the existing ordinary shares in issue. As such, IP Group is a substantial shareholder of the Company by 
definition of the AIM Rules for Companies and its participation in the Fundraise is a related party 
transaction pursuant to AIM Rule 13.

John Shaw, CEO (“Shaw”) has agreed to subscribe for 555,556 New Ordinary Shares (being US$32,625 or approximately £25,000) pursuant to the Fundraise. As at the date of this announcement (prior to completion of the Fundraise), Shaw holds 44,961,686 existing ordinary shares representing 
approximately 10.14 per cent. of the existing ordinary shares in issue. As such, John Shaw is a 
substantial shareholder of the Company by definition of the AIM Rules for Companies, and a director 
of the Company, and his participation in the Fundraise is a related party transaction pursuant to AIM Rule 13.

Laura Denner, CFO (“Denner”) has agreed to subscribe for 555,556 New Ordinary Shares (being 
US$32,625 or approximately £25,000) pursuant to the Fundraise. As at the date of this announcement (prior to completion of the Fundraise), Denner holds 12,151,080 existing ordinary shares representing 
approximately 2.74 per cent. of the existing ordinary shares in issue. Denner is a director of certain 
Itaconix subsidiary companies and her participation in the Fundraise is a related party transaction pursuant to AIM Rule 13.

The Independent Directors, being James Barber, Charlean Gmunder, and John Snow, consider, having consulted with the Company's nominated adviser, finnCap Ltd, that the terms of IP Group and 
Managements' participation in the Fundraise are fair and reasonable insofar as the Company’s 
shareholders are concerned. Immediately following admission of the New Ordinary Shares to trading on AIM, IP Group will hold 55,913,194 ordinary shares, representing approximately 12.42 per cent. of 
the issued share capital of the Company as enlarged by the Fundraise. Immediately following 
admission of the New Ordinary Shares to trading on AIM, Shaw will hold 45,517,242 ordinary shares, 
representing approximately 10.11 per cent. of the issued share capital of the Company as enlarged by 
the Fundraise. Immediately following admission of the New Ordinary Shares to trading on AIM, Denner 
will hold 12,706,636 ordinary shares, representing approximately 2.82 per cent. of the issued share 
capital of the Company as enlarged by the Fundraise. 

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