Portfolio streamlining: Gloster successfully sold its stake in FF Next Technologies Kft.

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: the Company, Gloster) hereby informs its esteemed investors of the following in accordance with applicable laws, in particular Act CXX of 2001 on the Capital Market (“Tpt.”) and the General Rules of the Budapest Stock Exchange.

Portfolio streamlining: Gloster successfully sold its stake in FF Next Technologies Kft.

Gloster Infokommunikációs Nyrt. hereby informs its esteemed investors that it has successfully completed the sale of its 54.7% stake in FF Next Technologies Kft. The purpose of the sale is for Gloster to increase its profitability and liquidity, enabling it to reallocate resources to its subsidiaries that are focused on faster-growing international markets.

As part of its portfolio streamlining strategy, Gloster is selling its smaller subsidiaries that have a minimal or negative impact on consolidated earnings. The sale of FF Next Technologies Kft. will enable the company to acquire additional shares in Gloster-P92 Informatikai Kft., which accounts for a significant portion of the group’s earnings.

As a result of the sale, the Company’s profit margin is expected to increase, while freeing up administrative capacity. Gloster’s management remains committed to improving efficiency as part of the 200 million forint corporate development program announced on November 27, 2023.

The sale of FF Next Technologies Kft. is part of a comprehensive portfolio streamlining strategy aimed at concentrating and more efficiently utilizing the company’s resources, thereby promoting long-term growth and increasing shareholder value. This move is in line with the objectives of the investor presentation published on March 26, 2024, and the company remains committed to increasing shareholder value.

ERSTE Investment Ltd. is tracking Gloster shares, with a target price of 1,183 HUF and a “buy” recommendation.

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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 international mid-sized company. 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 employs a team of nearly 350 people; according to its audited consolidated financial statements for 2023, its revenue was 10.3 billion forints, its adjusted EBITDA was 976 million forints, and its net income was 414 million forints.

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Nagytarcsa, September 13, 2024

Gloster Infocommunications Plc.

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Further information:

Dr. Adrienn Karlovich-Szabó

investor relations officer

karlovich.szabo.adrienn@gloster.hu