Innovative Eyewear Inc. Regains Compliance with Nasdaq Listing Requirements

Miami, Florida--(Newsfile Corp. - August 1, 2024) - Innovative Eyewear Inc. (NASDAQ: LUCY) (NASDAQ: LUCYW) ("Innovative Eyewear" or "the Company") the developer of smart eyewear under the Lucyd^®, Nautica^®, Eddie Bauer^® and Reebok^® brands, today announced that the Company received formal notice (the "Notice") from the Nasdaq Office of General Counsel of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule").

To regain compliance with the Bid Price Rule, the Company's Common Stock was required to maintain a minimum closing bid price of $1.00 or more for at least ten consecutive business days. The Notice confirmed that this requirement had been met. As a result, this listing matter has been closed.

The Company's Common Stock will continue to trade on The Nasdaq Capital Market tier of Nasdaq under the symbol "LUCY".

About Innovative Eyewear Inc.

Innovative Eyewear is a developer and retailer of cutting-edge ChatGPT-enabled smart eyewear under the Lucyd^®, Nautica^®, Eddie Bauer^® and Reebok^® brands. True to our mission to Upgrade Your Eyewear^®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more about our smart eyewear collection and explore the future of eyewear technology, please visit www.Lucyd.co.

Forward-Looking Statements

This press release contains certain forward-looking statements, including those relating to the launch of new products. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including but not limited to "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors."

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