M&G invests $40 million into unlisted automotive UK deep tech company Envisics

Augmented Reality Head-Up Display technology enabling automakers to reimagine interior displays

London: 6 September 2023 – M&G Investments has invested $40 million into UK technology company, Envisics – a pioneer and global leader in Augmented Reality Head-Up Displays (AR HUDs) – advanced display technologies that are being increasingly sought after by the global automotive industry and consumers alike. The Envisics AR HUD improves situational awareness, offers intuitive delivery of information, greater personalization, connecting the driver in the new world of mobility while also freeing up the valuable interior real estate of the vehicle.

The capital will enable Envisics to accelerate international expansion and the development of its next generation of dynamic holographic technology, which is set to change the face of interior car displays. Founded in 2018, Envisics is redefining the way drivers interact with their vehicles and the world around them with its market leading holographic technology that is enabling the future of AR- HUDs.

The investment has been made by M&G’s equity division in a series C funding round on behalf of the £129 billion Prudential With Profits Fund and its circa 5 million UK customers. M&G will become the company’s third largest shareholder and will take a seat on its Board.

M&G Portfolio Director Jeremy Punnett, says: “This home-grown technology company is a shining example of the world class innovation ecosystem we have in the UK and is a strong example of how institutional investors can make meaningful allocations to unlisted UK companies, helping them to accelerate their growth, finance and global reach. Whilst the automotive sector is the initial area of focus, in the long term we see a broader set of application opportunities. We look forward to working with Envisics and its partners.”

“Envisics continues to attract extremely high-quality strategic investors to the company,” says Envisics’ CEO and founder, Dr Jamieson Christmas. “We continue to make great progress on developing and delivering dynamic holography as a viable product at scale to the world’s leading automakers. The vote of confidence from M&G Investments, together with our recently expanded group of investors, speaks to the significant growth potential for our technology as part of the transformation set to disrupt next generation mobility experiences.”

M&G is a signatory to the Mansion House Compact via the £129 billion Prudential With Profits Fund – the largest of its kind in the UK.

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Media enquiries

Irene Chambers

Media Relations

+44 (0)782 569 6815

irene.chambers@mandg.co.uk

Rebecca Grundy

Media Relations

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Rebecca.grundy@mandg.com

Envisics

press@envisics.com

Notes to editors

*Envisics’ Series C funding round was led by existing strategic investors Hyundai Mobis with additional investment from new strategic shareholders including InMotion Ventures – the investment arm of Jaguar Land Rover and Stellantis. It also includes a follow up investment from GM and Van Tuyl Companies.

OpenAbout M&G Investments

M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G plc listed as an independent company on the London Stock Exchange in October 2019 and has £344 billion of assets under management (as at 31 March 2023). M&G plc has over 5 million customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

For nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate.

M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Programme.

M&G plc has committed to achieve net zero carbon emissions on its total book of assets under management and administration by 2050 and committed to reduce operational carbon emissions as a corporate entity to net zero by 2030.

For more information, please visit: https://global.mandg.com/

OpenAbout Envisics

Envisics is a globally renowned dynamic holography pioneer, focused on developing holographic technologies for augmented reality head-up displays (AR-HUDs) and automotive sensor systems. ENVISICS® branded technology harnesses the power of holography and laser-based light sources to provide the highest possible image quality. The advancement of ENVISICS® branded technology has the opportunity to transform automotive displays and revolutionize the in-car experience. In partnership with the world's leading automakers and tier-one suppliers, Envisics is making the future of holographic technology a reality for smarter and safer vehicles. Envisics Ltd is the proprietor of registered trademark rights worldwide in respect of the ENVISICS® mark and logo. For more information: www.envisics.com

This press release reflects the authors’ present opinions reflecting current market conditions; are subject to change without notice; and involve a number of assumptions which may not prove valid. It has been written for informational purposes only and should not be considered as investment advice or as a recommendation of any particular security, strategy or investment product. 3 Past performance is not a guide to future performance. The services and products herein are available only to investment professionals and are not available to individual investors, who should not rely on this communication. Information given in this document has been obtained from, or based upon, sources believed by us to be reliable and accurate although M&G does not accept liability for the accuracy of the contents. Issued by M&G Investment Management Limited, registered in England and Wales under number 936683, registered office 10 Fenchurch Avenue, London EC3M 5AG. M&G Investment Management Limited is authorised and regulated by the Financial Conduct Authority.

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