SAI Substrate Artificial Inteligence SA

18 June 2024

SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA

("Substrate AI" or the "Company")

OTHER RELEVANT INFORMATION

Substrate AI (AQUIS: SAI/SAI.B) announces that pursuant to a requirement from the BME Growth Market where the Company's shares are also listed, the shareholders whose percentage of direct and/or indirect participation in the Company is equal to or greater than 5% are expected to be as listed below.

These percentages have been calculated on the basis of the 100,611,739 class A shares and the 138,638,460 class B shares into which the Company's share capital will be divided upon the issuance of 28,645,665 class A shares. This issuance of class A shares relates to (i) the issuance of shares relating to the investment agreement with venture capital investment fund IMPULSE TECH TRANSFER CLM FCR, as announced on 19 December 2023; and (ii) the capital increase agreed on the shareholders meeting held on 19 January 2024. This issuance is pending approval by the official register of companies in Spain and is expected to be completed in the coming weeks. The Company will make further announcements in due course.

Class A shares

(a) Entity owned 50% by Mr. Lorenzo Serratosa Gallardo, 50% by Mr. José Iván García Braulio. The entity's stake becomes 5.43% taking into account the 1,500,000 and 2,500,000 shares lent as collateral by JMSAN Agentes Financieros Globales, S.L. to GLOBAL CORPORATE FINANCE OPPORTUNITIES 15 according to OIR of 04/08/2022 and OIR of 10/07/2023, and the 2,500,000 and 250,000 shares lent as collateral to a series of investors who granted loans to the company (OIR 4/08/2022) according to OIR of 08/08/2022 and 10/07/2023, respectively. Although on 13/09/2023 and 22/09/2023 OIR were published indicating the cancellation of these last loans, given that to date there has been no change of ownership of the same, we made the above calculations considering the 2,500,000 and 250,000 shares. 

(b) Member of the Board of Directors of the Company, which in addition to its indirect participation through JMSAN Agentes Financieros Globales, S.L., owns 256,018 shares (0.25%) through the company Ijana Films, S.L., of which it owns 50% of the capital. The stake becomes 3.18% taking into account shares lent as collateral by JMSAN Agentes Financieros Globales, S.L. to GLOBAL CORPORATE FINANCE OPPORTUNITIES 15 and to a series of investors.

(c) Member of the Board of Directors of the Company, who in addition to his direct participation maintains an indirect stake in the Company through JMSAN Agentes Financieros Globales, S.L. The stake becomes 4.36% taking into account the shares lent by JMSAN Agentes Financieros Globales, S.L. to GLOBAL CORPORATE FINANCE OPPORTUNITIES 15 and to a series of investors who granted a loan to the Company.

Class B Shares

The Board of Directors is not aware of the existence of other shareholders with a position of more than 5%.

The Directors of Substrate AI accept responsibility for this announcement. 

About Substrate AI: Substrate AI is an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, or health. All of them sell products and services built on the bio-inspired reinforced learning technology developed and patented by Substrate AI.