BMIT Technologies Plc

M&A Activity • Jan 17, 2020

COMPANY ANNOUNCEMENT

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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Completion of Class 2 Transaction

Reference is made to the Company Announcement issued by the Company on the 23 May 2019 (the "Original Announcement") whereby it was announced that BM IT Limited, a company registered in Malta bearing registration number C 39594 and with registered address at Building SCM02, Level 2, Smartcity Malta, Ricasoli, Kalkara, SCM 1001 Malta ("BM IT"), a subsidiary of the Company, entered into a promise of sale agreement with BM Holdings & Investments Limited, a company registered in Malta with registration number C 39616 and with registered address at 124, Triq ic-Cawsli, Qormi, QRM 3906, Malta (the "Vendor"). Pursuant to the promise of sale agreement, BM IT promised and bound itself to purchase and acquire from the Vendor a building, without official number constructed on two plots of land known as plot 55 and plot 56 respectively, situated in Triq Manuel Borg Gauci corner with Triq Luigi Maria Galea in Tal-Handaq, Qormi, Malta (the "Property"). The Property houses the BMIT Group's largest data centre with a capacity of approximately 300 racks.

As stated in the Original Announcement, the acquisition of the Property was conditional on, amongst others, the approval thereof by the Company's shareholders. The acquisition was approved at an Extraordinary General Meeting of the Company held on the 6 August 2019, as announced by a Company Announcement bearing the same date.

The Company hereby announces that the final deed of sale and purchase in respect of the Property was executed on the 17 January 2020 by means of a deed in the records of Notary Dr Pierre Attard.

The acquisition the Property enables the BMIT Group to carry on a significant part of its operations from its own property. This minimizes, and in some cases, avoids risks associated with a migration to another facility, including financial expense, operational disruption and risk of loss of business, as customers allocated to the data centre operating from the Property will not need to be relocated. As a result of the acquisition of the Property, the BMIT Group will be incurring less expenditure on the rental of premises.

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Dr. Francis Galea Salomone LL.D. Company Secretary

Date: 17th January 2020