2024/08/22

Gloster acquires a 70% stake in two software development companies

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Extraordinary information

A Gloster Infocommunication Public Limited Company (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János utca 1/A. building A/2.; hereinafter referred to as: the Company, Gloster) is the legislation, in particular the Capital Market Act CXX of 2001.

Law ("Tpt.") and the General Business Rules of the Budapest Stock Exchange, the the following information to the Honoured Investors.

Two Gloster acquired a 70% stake in two software development companies

A step will increase the dividend to Gloster by almost one and a half times

A Munich-based BMW recently awarded a software development contract worth EUR 15 million[1] Gloster-Minero IT Hungary Kft. and the German Gloster GmbH for EUR 1,000 million, it acquired a further 19% stake in Gloster.

Transactions in the previous are the second step[2] [3] in the acquisition of shareholdings, which all the conditions have been met, the necessary administrative steps and company court procedures are ongoing. A for shareholders because it is already in place for the year 2024. the dividends to Gloster from the companies' results will be almost (dividends to outside shareholders will increase by a factor of one and a half ) in 2023 was nearly HUF 206 million ). Gloster has used 100% of its own resources, with no bank funding (no increase in indebtedness) and no capital increase (shareholders were not diluted).

Gloster-Minero IT Hungary Kft.

A successful supplier to the German automotive industry for more than ten years, Gloster-Minero IT Hungary Kft. continues to operate with unchanged management and geographical focus, as a German-Hungarian joint venture between the Munich-based multinational Sulzer GmbH and Gloster.

From Founded in 1978, the Bavarian co-owned IT company Sulzer GmbH, one of the world's ten offices in ten countries, including the USA and India, with approximately 80 million in sales and 650 employees, the German 16th largest IT supplier to the German automotive industry[4]. Its customers include BMW, Audi, BASF, MAN, Daimler and Skoda.

A Despite the German economic problems, Gloster's global customer BMW continues to growing steadily in 2023 with sales of 2,555,341 cars, an increase of 6.5% growth compared to 2022[5].

Gloster Ltd.

From "Audi Innowation Award" winner Gloster GmbH was founded in 2009 with the aim of, to provide high quality nearshore services to the German market. Retrieved from founding owners previously worked for Volkswagen AG and AUDI AG in external IT consultants and therefore had a network of contacts with the to start the business.

A The purpose of the additional acquisition is to strengthen Gloster GmbH's existing successful local Gloster's local operations, in line with the 2026 strategy, Gloster a local presence with its own sales office in the DAH region (Germany, Austria, Switzerland), additional long-term, high-value, high-profit - but not but not only automotive - software development contracts. Gloster GmbH, the group won the German Audi 700.000 EUR for a project to upgrade the reporting system for the German production of the German automotive industry. 700,000[6], which was extended on 2 July 2024 for the same amount[7].

Another step in implementing the strategy

A This move is in line with Gloster's Investment Presentation 2024, published on 23 April 2024[8], which - with the aim of higher earnings generation in its existing and well-performing subsidiaries in order to achieve higher in its subsidiaries to achieve higher and better results.

A Gloster's shares are followed by two investment services, Equilor 12 Monthly target at 1396 Ft/db (hold recommendation), while ERSTE has a target price of 1183 Ft/db (buy recommendation).

Present does not contain information previously declared to be inside information, but only of the implementation of the measures promised in previous disclosures informs investors of the actions taken.

About Gloster

Gloster on BSE listed in the standard category of the BSE, offering a wide range of international IT international IT service provider. In its more than 20-year history, Gloster has grown from a hardware garage company to a software to a software-focused international medium-sized company. Gloster is a fast-growing eleven transactions since 2018, and has grown to expanded its activities in systems integration, cloud solutions and and international software development services. The group is currently currently has a team of nearly 350 people, with the most recent (Hungarian Accounting Standards 2023 consolidated financial statements (according to Hungarian accounting standards), its adjusted turnover is 10.3 billion HUF and adjusted EBITDA of HUF 976 million.

Nagytarcsa, 22 August 2024.

Gloster Infocommunications Plc.

More information:

Dr Bassola Eszter

Investors relations officer

bassola.eszter@gloster.hu

[1] Gloster wins EUR 15 million industrial software development contract from BMW https://gloster.hu/uploads/befektetoknek/kozzetetelek/rendkivuli-tajekoztatasok/Rendkivuli-tajekoztatas-15-millio-EUR-os-megbizast-kapott-a-Gloster-a-BMW-tol-6672898577f31.pdf

[2] German market provider automotive software developer was acquired by Gloster https://gloster.hu/uploads/befektetoknek/kozzetetel/rendkivuli_tajekoztatasok/14863-Nemet-piacra-szolgaltato-autoipari-szoftverfejlesztot-vett-a-Gloster.pdf

[3] VW and Audi German software supplier to Audi and Audi is to be acquired by Gloster https://gloster.hu/uploads/befektetoknek/kozzetetel/rendkivuli_tajekoztatasok/21204-Rendkivuli-tajekoztatas-_A-VW-es-az-Audi-szoftverbeszallitojat-keszul-megvenni-a-Gloster.pdf

[4] https://www.sulzer.de/news/top-25-it-dienstleister-sulzer-gmbh-in-top-20-etabliert/

[5] 2023 (Full Year) Global: BMW and MINI Sales Worldwide

https://www.best-selling-cars.com/brands/2023-full-year-global-bmw-and-mini-sales-worldwide/