Special announcement - Establishment of a development center

Special NOTICE

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Gloster Infocommunications Public Limited Company (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János Street 1/A, Building A/2; hereinafter referred to as the “Company” or “Gloster”) hereby informs its esteemed investors of the following in accordance with applicable laws and regulations, in particular Act CXX of 2001 on the Capital Market (Tpt.) and the General Rules of the Budapest Stock Exchange.

Gloster Is Investing in AI Research and a New Overseas Development Center

The Company has gained direct access to a pool of highly qualified IT talent, thereby continuing its organic international growth

Gloster has reached another significant milestone in the implementation of its international growth strategy: it has established its own subsidiary in the Philippines, which provides the Company with substantial labor cost advantages and opportunities for international growth. The new subsidiary will establish a cloud engineering and software development center in Cebu City, with plans to expand its capacity to 50 employees by 2030. Hiring local cloud engineers and software developers could result in labor cost savings of 20–40% compared to IT salaries in Western Europe and Hungary, which could directly improve Gloster’s EBITDA.

The Company has entered into a strategic cooperation agreement with the University of San Carlos, under which Gloster will provide internship and educational programs to the University and will also launch joint research and development projects with a Hungarian development team in the field of artificial intelligence. The goal is to jointly develop AI-based software solutions that can later be turned into licensable SaaS products, providing Gloster with a regular source of foreign currency revenue.

The establishment of the overseas development center strengthens Gloster’s international competitiveness. The new development division enables the Company to provide more cost-effective and secure services to its existing international clients, while expanding its presence in the EU, the ASEAN region, and the U.S. markets. Over the past year, Gloster has collaborated with developers in the Philippines on several pilot projects and has had positive experiences with both their software development expertise and their ability to communicate in English; as a result, the new office is expected to work well with Gloster’s teams in England, Germany, and Hungary.

The Hungarian Embassy in the Philippines also played a role in launching these projects, helping to build local relationships and facilitate a smooth integration into the business environment.

This move aligns closely with Gloster’s LEVEL UP strategy, unveiled in November 2023[1], which clearly focuses on strengthening its presence in international markets and increasing efficiency. The new subsidiary in the Philippines is a key element of this strategy, providing not only a labor cost advantage but also an opportunity for the company to export advanced cloud and software technology solutions at an even higher rate and to gain access to new international markets. The global IT outsourcing market is growing at an annual rate of 10–15%, which represents further expansion opportunities for the Company.

Gloster's Board of Directors remains committed to ensuring that the company's growth remains stable, sustainable, and predictable, and is constantly seeking opportunities that contribute to the growth of shareholder value.

About the University of San Carlos

The University of San Carlos (USC) is a private, Catholic research institution in Cebu City, in the Philippines. During the 2022–2023 academic year, it had more than 25,000 students, including 250 international students. 140 faculty members are actively engaged in research and have published 315 articles in international journals. The university filed 19 patent applications with the Philippine Intellectual Property Office, two of which were granted between 2012 and 2022. Between 2018 and 2022, the university secured more than 7 million USD in external research funding.

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About Gloster

Gloster is a broad-spectrum international IT service provider listed in the BSE’s Standard category. Over the course of its more than 20-year history, it has evolved from a hardware-focused garage startup into a software-focused company with an international presence. Thanks to Gloster’s aggressive growth strategy, it has completed eleven transactions since 2018 and expanded its operations into the areas of systems integration, cloud solutions, and international software development services. The group currently operates in two business segments (software development and cloud-based services); according to its audited consolidated financial statements for 2023, its revenue (in accordance with Hungarian standards) was 10.3 billion forints, its adjusted EBITDA (in accordance with Hungarian accounting standards) was 976 million forints, and its net income was 414 million forints.

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Nagytarcsa, March 13, 2025

Gloster Infocommunications Plc.

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Further information:

Dr. Adrienn Karlovich-Szabó

investor relations officer

karlovich.szabo.adrienn@gloster.hu

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[1] https://gloster.hu/uploads/befektetoknek/kozzetetel/rendkivuli_tajekoztatasok/28982-Rendkivuli-tajekoztatas_-Evi-200-millios-vallalatfejlesztesi-program-indul-a-Glosterben.pdf