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TCM|Strategic Provides Update on Fund Holdings

1. TCM|Strategic distributed 1,385,147 DMRC shares to Limited Partners. 2. Current ownership of DMRC by TCM|Strategic is 2,355,093 shares. 3. The Fund's original expiry was extended to maintain pro rata interest.

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FAQ

Why Neutral?

While TCM's control over DMRC is extending, share distributions usually do not indicate immediate price impacts. The historical performance shows that share distributions can stabilize or slightly reduce volatility without major price shifts.

How important is it?

Although share distribution reduces the overall holdings per limited partner, the fund extending its life suggests confidence in DMRC. This balance of ownership interest could mitigate panic selling events, yielding moderate importance.

Why Short Term?

The share distribution impacts short-term liquidity; however, extended control can assure stability for longer periods. Past examples show limited long-term effects from similar distributions if management remains stable.

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DMRC
, /PRNewswire/ -- TCM|Strategic ("the Fund") announced today that it has distributed 1,385,147 common shares of Digimarc Corporation (NASDAQ: DMRC) to certain Limited Partners.  The Fund's current ownership stands at 2,355,093 shares. "TCM|Strategic is a Special Purpose Vehicle formed in September 2020 with the sole purpose of making an investment in Digimarc Corporation. The original Fund life was four years," said Riley McCormack, Managing Member of TCM|Strategic.  "Limited Partners representing approximately 2/3rds of the Fund, including me, have decided to extend the Fund expiry date by multiple additional years for the purpose of allowing the Fund to maintain full ownership and control of their pro rata interest.  Today's share distribution to the other Limited Partners reflects the conclusion of the original Fund life." Disclaimer: This press release is made available for the limited purposes set forth herein.  No offer to sell or solicitation of an offer to purchase any securities or to participate in any investment vehicle or other financial product offered, sponsored, managed or otherwise associated with TCM Strategic L.P. or any of its affiliates or personnel (collectively, "TCM") or any securities of Digimarc Corporation ("Digimarc") is made hereby. This press release does not constitute an offer to sell or a solicitation of an offer to buy an interest in any investment or other asset. Such an offer, if made, may be made only through separate offering materials or registration statements, as applicable. This press release does not and shall be deemed not to constitute any commitment or to create any contractual obligations on the part of TCM, Digimarc or any of its relevant subsidiaries or affiliates. This press release is not, and may not be relied on in any manner as legal, tax, investment, accounting or other advice, and none of TCM, Digimarc, or any of its affiliates has or will provide any such advice. SOURCE TCM|Strategic WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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