Wejo Announces TKB Critical Technologies 1 to Retain Approximately $56.7 Million in its Trust Account as Next Step in Companies’ Business Combination

Wejo Group Limited (NASDAQ: WEJO) (“Wejo”), a global leader in Smart Mobility for Good cloud and software solutions for connected, electric and autonomous vehicle data, today announced TKB Critical Technologies 1 (NASDAQ: USCT) ("TKB") retained approximately $56.7 million in its trust account after a final shareholder vote to extend the time it has to consummate a business combination to June 29, 2023. The vote, which was approved by approximately 99% of the votes cast at the meeting, representing approximately 82% of TKB’s outstanding shares, resulted in the retention of approximately $3.7 million more in TKB’s trust account than was reported by TKB on January 25, 2023.

“TKB’s retention of $6.7 million more than expected in total in its trust account reflects TKB shareholders’ continued confidence in the value of Wejo’s business, which includes an expected 200-300% year-over-year growth in revenue during 2023,” said Richard Barlow, Founder and CEO at Wejo. “We are excited by the potential capital that will be available to us following the closing of the business combination with TKB. The successful execution of this transaction will allow us to continue to invest in our technology platform, deliver innovative smart mobility for good solutions, and scale our capabilities to meet increasing customer demand.”

For more information about Wejo and TKB business combination please visit https://www.wejo.com/resources/wejo-tkb-critical-technologies-1-busine ...

About Wejo

Wejo Group Limited is a global leader in cloud and software analytics for connected, electric, and autonomous mobility, revolutionizing the way we live, work and travel by transforming and interpreting historic and real-time vehicle data. Wejo enables smarter mobility by organizing trillions of data points from 20.8 million vehicles, of which 13.9 million were active on the platform transmitting data in near real-time, and over 94.6 billion journeys globally as of December 31, 2022, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information, and intelligence, Wejo is creating a smarter, safer, more sustainable world for all. Founded in 2014, Wejo has offices in Manchester, UK and in regions where Wejo does business around the world. For more information, visit www.wejo.com or connect with us on LinkedIn, Twitter, and Instagram.