BMIT Technologies Plc — Earnings Release 2020

Dec 1, 2020

The following is a Company Announcement issued by BMIT Technologies p.l.c. ("the "Company") pursuant to the Listing Rules issued by the Listing Authority in accordance with the provisions of the Financial Markets Act (Chapter 345 of the Laws of Malta) as they may be amended from time to time.

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The Company is pleased to announce that, despite the current unprecedented and challenging times, it remains resilient and has continued to produce good results.

As at end of Q3-2020, the Company generated revenues of €17.9 million, a growth of 6.1% over the comparative period last year. This positive performance was sustained despite the challenges brought about by the Covid - 19 pandemic and resulted in an EBITDA of €7.9 million up to the end of this same quarter, an increase of 4% over last year.

Despite these extraordinary times, the Group still maintained a strong cash position whilst honouring its commitments towards its stakeholders, including the timely payment of a dividend to shareholders earlier this year.

Whilst all major investments, including the Żejtun Data Centre development, are being re-evaluated from a strategic perspective, in view of the the realities brought about by the pandemic, several consolidation and growth opportunities are being explored, in order to achieve further growth in the future. Such initiatives include the consideration of deploymemnt of new products and services, including a further diversification of the Company's solutions portfolio as well as assessing the possibilty of tapping into new markets.

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Dr. Francis Galea Salomone LL.D. Company Secretary 1 December 2020