Transense Technologies plc

("Transense" or the "Company")

Further Working Capital Loan Agreement with Bridgestone

Transense Technologies plc, the provider of sensor systems for the industrial, mining and transportation markets, is pleased to announce that the agreement of a further working capital loan with Bridgestone Corporation, Japan ("Bridgestone").

On 13 August 2019, Transense announced that it had entered into a Joint Collaboration Agreement ("JCA") by which Bridgestone offers the iTrack system exclusively as a mining tyre monitoring system for tyres 57 inches and above for its off-the-road ("OTR") customers. At that time, Transense also drew down an unsecured loan from Bridgestone of US$0.75m to provide additional working capital for the unprecedented increase in sales activity under the JCA.  The loan was interest free, and repayable from a proportion of future relevant subscription income, or after three years if earlier.

The current pipeline of sales opportunities indicates that it is appropriate to put in place, and draw down, a further unsecured loan of US$1.2m in order to build additional inventory of iTrack kits. This further loan is also interest free, and repayable from a proportion of future relevant subscription income or upon the cessation of the JCA if earlier.

On 12 February 2020, as previously announced, Transense and Bridgestone agreed to extend the duration of the JCA until 12 February 2022 at the earliest, and extend the period during which Transense undertake not to have discussions with other parties relating to any transaction of a merger, acquisition or joint venture nature relating to the iTrack business until 30 April 2020.

For further information please visit www.transense.co.uk or contact:

About iTrack

The iTrack Mining system provides real-time data on the condition of the tyres, combined with live tracking of vehicle location and status. Our 24/7 Control Room monitors the pressures and temperatures live, and this information can, for example, be used to ensure tyres do not exceed critical heat thresholds, to detect incorrect load distributions, predict suspension failures and eliminate manual tyre pressure checks. The Directors believe that these benefits maximise the hours a truck is working (Truck Uptime) and improve productivity by minimising maintenance requirements and using data to identify underperforming trucks. www.trans-logik.com/itrack-2/

About Transense Technologies

Based in Oxfordshire, UK, Transense has developed patent-protected sensor systems and supporting technology for use in a variety of diverse high growth markets. The Directors believe that Transense's Surface Acoustic Wave (SAW), wireless, battery-less, sensor systems offer advantages over legacy wireless sensor systems. Transense is targeting the transport and mining industries, and the global torque, temperature and pressure sensing markets, via its trading divisions, Translogik and SAWSense. www.transense.co.uk

Transense's shares are admitted to trading on AIM (AIM: TRT).

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.