THIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN 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, THE REPUBLIC OF IRELAND, 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. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT AND AT THE START OF THE APPENDIX.

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. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF ITACONIX PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 ("MAR").

Itaconix plc

(“Itaconix” or the “Company” or the “Group”)

LAUNCH OF FUNDRAISE

Proposed Fundraising of a minimum of £1.12 million ($1.4 million)

by way of a Placing, Subscription and US Additional Subscription

Itaconix, a leading innovator in sustainable specialty polymers, today announces its intention to issue new ordinary shares to raise a minimum of £1.12 million ($1.4 million) by way of a placing via an accelerated bookbuild, a subscription and a US additional subscription (together the “Fundraising”) to fund the commercial development of the Company’s portfolio of core products and for general working capital purposes as further outlined below. The Fundraising is being conducted at a price of 1.1 pence per new Ordinary Share (the “Issue Price”).

Highlights

• Proposed Placing of new Ordinary Shares (the “Placing Shares”), with certain existing and new
  institutional and other investors and a Subscription of new Ordinary Shares (the “Subscription Shares”),
  with certain US investors, at the Issue Price of 1.1 pence per share, the Placing and the Subscription raising in aggregate a minimum of approximately £1.12 million ($1.4 million)
• The Company also intends (acting in its absolute discretion) to make an invitation to certain US Eligible Participants to participate, pursuant to applicable exemptions to the US Securities Act, in a further issue of new equity in the Company by way of the US Additional Subscription of new Ordinary Shares at the Issue Price
• The Issue Price of 1.1 pence represents a 15 per cent. discount to the Closing Price of 1.3 pence on 23 June 2020, being the latest practicable date prior to the announcement of the Fundraising. Participants in the US Subscription and US Additional Subscription are being invited to invest in the Fundraising in US dollar amounts, at an equivalent share price of $0.01375 which, at a deemed $/£ exchange rate of 1.25, represents a price of 1.1 pence per Ordinary Share.
• The Net Proceeds of the Placing and the Subscription are intended to be used
  (i) to fund Itaconix’s anticipated operational costs associated with the commercial development
  of the Company's portfolio of core products at least until the third Quarter of the financial year
  ending 31 December 2021; and
  (ii) for general working capital purposes as it seeks to continue growing revenues
• Books are open with immediate effect. The Company reserves the right to increase the overall size of the Fundraise subject to levels of demand
• The Group has continued to make commercial progress. Revenue for the first five months of 2020 were $0.9m, representing a 91 per cent. increase over the same period in 2019
• The Placing is being conducted in two tranches. The Company intends to issue approximately
  12,270,000 First Placing Shares raising gross proceeds of approximately £135,000 ($168,750) to certain participants in the Placing under the existing authorities to allot equity securities granted at the Company’s annual general meeting in 2019. The First Placing Shares are expected to be admitted to trading on AIM on or around 8 July 2020. The Company intends to issue a minimum of 89,500,000 Second Admission Shares raising a minimum of gross proceeds of £985,000 ($1,231,250). The Second Admission Shares (along with the US Additional Subscription Shares) are expected to be admitted to trading on AIM on or around 15 July 2020
• The US Additional Subscription will be for up to 3,640,000 new Ordinary Shares in aggregate at the Issue Price. Assuming full take-up by US Eligible Participants under the US Additional Subscription, the issue of the Additional Subscription Shares will raise further gross proceeds of up to £40,000 ($50,000) for the Company
• Admission of the First Placing Shares is conditional, inter alia, upon the Placing Agreement not having been terminated and becoming unconditional in respect of those shares. Admission of the Second Placing Shares, the Subscription Shares and the US Additional Subscription Shares is also conditional, inter alia, upon the approval of Shareholders at the General Meeting
• A circular, which will provide further details of the Fundraising and include a notice convening the
  General Meeting (the “Circular”) will be sent to Shareholders shortly and a further announcement will be made in due course

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