Extraordinary information - Gloster wins major development contract

Extraordinary information
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Gloster Infokommunikációs Nyilvánosan Működő Részvénytársaság (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János utca 1/A. A/2. ép.; hereinafter: Company, Gloster) hereby informs its esteemed investors of the following in accordance with the relevant legislation, in particular Act CXX of 2001 on the Capital Market (hereinafter: Tpt.) and the General Business Rules of the Budapest Stock Exchange.

Gloster wins high-value development contract

Gloster has won another major contract from Sony Music Entertainment, one of the leading players in the international music industry. The two-year contract is worth HUF 2.5 billion, further strengthening Gloster's position in the international market.

As part of the contract, Gloster P92 Informatikai Kft. was asked to further develop three special software development projects, with the aim of ensuring that the systems used by Sony Music continue to meet the ever-changing needs and technological challenges of the music industry. The projects are expected to bring significant efficiency gains in the development of digital music platforms, providing a faster and more intuitive user experience.

The successful collaboration between Gloster and Sony Music has been ongoing for several years, and this latest assignment further demonstrates Gloster's innovative capabilities and reliability in the field of technological solutions. The applications developed for Sony Music are based on state-of-the-art technologies, ensuring that the needs of the ever-growing user base are met.

For the Company, this order not only represents a significant step forward in financial terms, but also provides a further opportunity to strengthen Gloster's international reputation. The sales impact of the order will contribute significantly to the achievement of the growth targets set for 2026. Gloster will carry out the order with its own team.

Among Gloster's recent international successes, it is worth mentioning that on June 19, 2024, the Company won a €15 million project from BMW, further increasing its international presence.

Gloster shares are tracked by ERSTE Ltd. with a target price of HUF 1,183 and a buy recommendation.

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About Gloster

Gloster is a broad-spectrum international IT service provider listed in the standard category of the Budapest Stock Exchange. Over its more than 20-year history, it has evolved from a hardware garage company into a software-focused international medium-sized enterprise. Thanks to its intensive growth strategy, Gloster has completed eleven transactions since 2018 and expanded its activities into the areas of system 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 HUF 10.3 billion, its adjusted EBITDA was HUF 976 million, and its after-tax profit was HUF 414 million.

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Nagytarcsa, September 12, 2024.

Gloster Infocommunications Plc.

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Further information:

Dr. Adrienn Karlovich-Szabó

Investor Relations Officer

karlovich.szabo.adrienn@gloster.hu