BMIT Technologies Plc

Board/Management Information • Nov 21, 2019

COMPANY ANNOUNCEMENT

Interim Directors' Statement

The following is a Company Announcement issued by BMIT Technologies plc pursuant to the Listing Rules issued by the Listing Authority:

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"Q3 Financial Year ending 31 December 2019

BMIT Technologies plc's (the "Company") performance to date continues to be positive reflected by the continued strive of the Company to increase its service offerings.

Up to Q3 2019, the Company registered an increase of 5.8% in revenue when compared to same period in 2018, or €16.7m as at end September 2019 vs €15.8m as at end September 2018. This increase is a result of the positive performance of the main operating segments of the group. This revenue growth is expected to be sustained during Q4, therefore enabling the Company to achieve its 2019 objectives comfortably.

The Company is undertaking several initiatives aimed at sustaining the improved performance in the longer term. By way of example, in addition to normal operational initiatives, the Company has also embarked on an investment programme in the cooling plants within its datacentre facilities, with the final result expected to be a sustained decrease in energy costs. The latter constitute a substantial part of the total costs incurred by the BMIT Technologies group in running its facilities.

During the first nine months of 2019, the Company engaged in a number of significant initiatives where the ultimate aim is to sustain and improve further its future performance. These initiatives included:

• The Company obtained its shareholders' approval to acquire the property in Ħandaq, Malta, from which BMIT Technologies operates one of its datacentres. This acquisition is instrumental to the Company both in terms of its continued operations and the mitigation of risks associated with a migration to another facility. The acquisition of the property is planned to be concluded in early 2020;
• In September 2019, the Company augmented its cloud offering by launching a suite of managed services related to Microsoft Azure cloud. Of particular importance is the capability by BMIT Technologies to offer a sub-set of Azure cloud services through its data centres via its investment in Azure Stack. This investment will

enable customers to access Malta-based Azure cloud services, and therefore retain their data local;

Work on the new datacentre in Żejtun, Malta is progressing as planned and it is envisaged that the new facility will be operational by end 2020. As previously communicated, this investment will double the Company's datacentre capacity and also allow it to offer new and related services. "

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Dr. Francis Galea Salomone LL.D. Company Secretary

21st November 2019