Company Announcements

Sure Ventures PLC

Infinite Reality agrees to acquire Landvault, Sure Valley Ventures Fund 1 (ICAV) Company for

$450,000,000

Sure Ventures PLC is pleased to announce that Infinite Reality ("iR") has agreed to acquire Landvault for US$450 million in an all-share transaction.  Landvault is a portfolio company of the Sure Valley Ventures Fund ("SVV1").

SVV1 has a 7% shareholding in Landvault and Sure Ventures PLC owns 25.9% of Sure Valley Ventures ("SVV1"). The purchase consideration for Landvault would comprise new shares in iR and it is expected that this company will be seeking a listing on Nasdaq in Q3 2024 through a combination with its SPAC partner, Newbury Street Acquisition Corp.

Based on the figures set out above, this disposal has the potential to generate proceeds for Sure Ventures PLC of circa $ 8.3 million depending on the value of iR shares, a circa 470% uplift on SVV1's  carrying value of Landvault as at end of March 2024.

Furthermore, iR has also today announced a US$350 million minority investment from a private multi-family office focused on global technology, media, and real estate, increasing iR's valuation to $5.1 billion. Further details will become available once iR publishes details of its proposed listing on Nasdaq, although there can be no guarantee that a listing of iR will ultimately take place.

iR is an innovation company powering the next generation of digital media and ecommerce through AI and immersive technologies. iR's virtual worlds enable brands and creators to fully control how they distribute content, engage audiences, and monetize their creations while maintaining ownership of their data. With deep expertise in Hollywood production and extended reality ("XR"), iR is redefining the infinite possibilities of connected digital environments in the modern age. iR's portfolio of brands includes the Drone Racing League, XR production facility Thunder Studios, creator talent management firm TalentX, and digital marketing agency Fearless Media.

The company is backed by a number of investors including RSE Ventures, Liberty Media, Lux Capital, Lerer Hippeau, MGM, CAA, T-Mobile Ventures, Courtside VC, Exor, Terracap, IAC, Live Nation, DJ and producer Steve Aoki, rock band Imagine Dragons, NBA player Rudy Gobert, Interscope Records, and more. For more information, go to theinfinitereality.com.

This represents a significant uplift in value within SVV1 fund and will have a significant impact on our NAV for this quarter, which will be announced towards the end of July. The SVV1 portfolio has maturing companies that are now at the stage of looking for realisation and this highlights the talent of the team, the value being created and the potential uplift available to shareholders.

Gareth Burchell-Sure Ventures PLC

"This is a major development for the Landvault leadership team, the Sure Valley Ventures Investment team and Sure Ventures PLC shareholders and board. This type of news illustrates the significant value creation at play from one portfolio company, the Sure Valley team have created a diverse portfolio, with numerous other potential exits of this magnitude".

For further information, please visit www.sureventuresplc.com or contact:

Gareth Burchell

Sure Ventures plc

+44 (0) 20 7186 9918