REACH - non-regulatory announcement*

28 June 2023

Tern Plc

("Tern" or the "Company")

Device Authority Winner of 2023 Microsoft Rising Azure Technology Partner of the Year

Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things ("IoT") technology businesses, is pleased to note that Device Authority Limited ("Device Authority"), a company in which Tern currently holds 53.8% of the equity, has announced that it has won the Rising Azure Technology 2023 Microsoft Partner of the Year Award. Device Authority was honored among a global field of Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.

Device Authority CEO, Darron Antill commented: "We are delighted that Keyscaler-as-a-service (KsaaS), our cloud-first approach to automated end-to-end device security has been recognized with this award. With today's global supply chains increasingly relying on interconnected devices and the relaying of timely data to artificial intelligence systems, trust in devices has never been more important. Because these devices are often located outside of the secured network environment, they've become a target for bad actors, and a single disruption to a production line can cost an organization up to 5% of its annual profits.

"Leveraging Azure's capabilities, KSaaS provides an automated and scalable solution to our customers' device security problems, accelerating their digital transformation and providing resilience throughout their connected infrastructure."

The Microsoft Partner of the Year Awards recognise Microsoft partners that have developed and delivered outstanding Microsoft-based applications, services and devices during the past year. Awards were classified in various categories, with honorees chosen from a set of more than 4,200 submitted nominations from more than 100 countries worldwide. Device Authority was recognised for providing outstanding solutions and services in Global Rising Azure Technology.

The award recognises a technology partner that has demonstrated strong customer focus and impact by building on Microsoft Azure as their primary cloud platform and scaling their solution by selling with Microsoft. The winning partner solution clearly demonstrates the value of repeatable IP and showcases how technology can solve differentiated value, addresses a unique market need, and improves the customer experience.

The Microsoft Partner of the Year Awards are announced annually prior to the company's global partner conference, Microsoft Inspire, which will take place on July 18-19 this year. Additional details on the 2023 awards are available on the Microsoft Partner blog: https://aka.ms/POTYA2023_announcement. The complete list of categories, winners and finalists can be found at https://partner.microsoft.com/en-US/inspire/awards/winners.

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