Non-regulatory announcement

9 December 2019

Tern Plc ("Tern" or the "Company")

Start-Up and Scale-Up Specialist Appointed to Investment Committee

Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that Mr Matthew Scherba, who has 25 years of start-up and scale-up experience specialising in working and investing in technology companies across the IoT industry, has joined Tern as an Investment Director, a non-Main Board appointment, reporting to the Chief Executive Officer and responsible for helping to develop existing and new portfolio opportunities. He has also been appointed to the Tern Investment Committee.

Mr. Scherba's experience covers the full company lifecycle development, from start-up to exit, with a focus on strategy and commercial scale across both the private and public sector markets. Prior to joining Tern, he spent almost five years at a UK venture capital investment company dedicated to the IoT arena. During this time, he helped originate, invest and support the development of disruptive technology companies in the UK, Europe and the US, and particularly within artificial intelligence (AI) and machine learning. Additionally, he held board positions on several portfolio companies, and worked with management teams to help develop their strategic, commercial and operational functions.

Tern CEO, Al Sisto, said, "Matthew's experience strengthens our team and embodies our strategy at Tern to find and help create high value growth IoT businesses. He is an experienced investment professional with an excellent network and strong understanding of the IoT arena in the UK, Europe and the US. He has originated and nurtured a significant number of deals during his career and I look forward to benefitting from this as we focus on diversifying our portfolio and adding value to existing portfolio companies."

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