OKYO Pharma Limited Announces Withdrawal of Public Offering LONDON and

Pharma Limited Announces Withdrawal of Public Offering

and NEW YORK, July 31, 2023 - OKYO Pharma Limited (Nasdaq: OKYO) ("OKYO" or the "Company"), an

ophthalmology-focused bio-pharmaceutical company which is developing OK-101 to treat dry eye disease (DED) to address the significant

unmet need in this multi-billion-dollar market, today announced the withdrawal of its proposed public offering of ordinary shares.

The decision was made in response to changing market conditions and the Company's commitment to prioritizing the best interests

of its shareholders and stakeholders.

Pharma's management, including CEO Gary Jacob, carefully evaluated the current financial landscape and concluded that it is in

the best interest of the Company and its shareholders to withdraw the public offering at this time.

Jacob, CEO of OKYO Pharma Limited, commented on the decision, saying, "After thorough consideration and in-depth analysis of market

conditions, we have made the difficult but necessary decision to withdraw our public offering. Our primary focus remains on advancing

our research and development initiatives to bring novel treatments to patients in need. We appreciate the continued support of our investors

and stakeholders as we work towards achieving our mission of improving global healthcare."

press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities

in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under

the securities laws of any such state or jurisdiction.

Pharma Limited (Nasdaq: OKYO) is a life sciences company, focusing on the discovery and development of novel molecules to treat inflammatory

dry eye diseases and chronic pain. For further information, please visit www.okyopharma.com.

statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather

are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words

such as "anticipates," "expects," "intends," "plans," "believes," "seeks,"

"estimates," and similar expressions are intended to identify forward-looking statements. These statements are not guarantees

of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's

control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking

statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking

statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this

announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to

release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events

occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.