Extraordinary information - Establishing a development centre

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 referred to as: Company, Gloster) hereby informs investors of the following in accordance with the relevant legislation, in particular Act CXX of 2001 on the Capital Market (Tpt.) and the General Business Rules of the Budapest Stock Exchange.

Gloster invests in AI research and new overseas development center

The Company has gained direct access to a significant IT talent pool, 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 will provide the Company with significant wage cost advantages and international growth opportunities. The newly established subsidiary will set up a cloud engineering and software development center in Cebu City, with plans to increase its capacity to 50 employees by 2030. The employment of 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 for the University and launch joint research and development projects in the field of artificial intelligence with a Hungarian development team. The goal is to jointly develop AI-based software solutions that can later be licensed as SaaS products, providing Gloster with a regular source of foreign currency-based 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 customers, while expanding its presence in the EU, ASEAN region, and US markets. Over the past year, Gloster has worked with developers in the Philippines on several pilot projects and has had positive experiences with both their software development skills and their English language communication skills, so the new office is expected to work well with Gloster's teams in England, Germany, and Hungary.

The Hungarian Embassy in the Philippines also contributed to the launch of the projects, facilitating the establishment of local contacts and smooth integration into the business environment.

The move fits closely with Gloster's LEVEL UP strategy unveiled in November 2023.[1], which is clearly focused on strengthening foreign markets and increasing efficiency. The new Philippine subsidiary is a key element of this strategy, providing not only labor cost advantages, but also the opportunity for the company to export advanced cloud and software technology solutions on an even larger scale and to gain new international markets. The IT outsourcing market is growing at an annual rate of 10-15% worldwide, which represents further growth opportunities for the Company.

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

About the University of San Carlos

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

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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 player. 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 operates in two business areas (software development and cloud-based services). According to its audited consolidated financial statements for 2023, its revenue (according to Hungarian standards) was HUF 10.3 billion, its adjusted EBITDA according to Hungarian accounting standards was HUF 976 million, and its after-tax profit was HUF 414 million.

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Nagytarcsa, 2025. march 13.

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