Ms. Kristine Lewis reports

NTG CLARITY PROVIDES A CORPORATE UPDATE FOR WORK VALUED AT APPROXIMATELY $6.89 MILLION CAD

NTG Clarity Networks Inc. has received three purchase orders (POs), one resource agreement contract and one letter of intent (LOI). The POs are from existing customers for renewal of services. The resource agreement is for new resources for a new customer in the Middle East, and the letter of intent is for an existing customer to renew and expand the provision of technical resources.

The breakdown is approximately as follows (based on conversions to Canadian dollars):

• A letter of intent for a one-year renewable resource agreement with an estimated value of $3.5-million; NTG will provide technical resources to this existing customer in the banking sector in the Middle East; the estimated cost of delivery is $2.28-million;
• A one-year renewable resource agreement with an estimated value of $2.8-million to provide resources to this new customer in the financial sector in the Gulf region; the estimated cost of delivery is $1.76-million.

The business-as-usual renewals over the last few months are as follows:

• A one-year purchase order renewal for $400,000 to provide a technical resource to an existing customer in the finance sector in the Middle East;
• A purchase order for $171,000 to provide a technical resource for an existing customer in the banking sector in the Middle East;
• A purchase order for $20,000 for an IoT (Internet of Things) pilot for an existing customer in the telecommunications sector in the Middle East.

The value of these POs/agreements, added to the estimated $13-million of POs on hand at the end of December, 2022, brings the company's backlog to almost $20-million in unbilled amounts.

"We are excited to start the new year on a high note with these POs and new work," said Kristine Lewis, president of NTG Clarity. "Our continued success with our existing customers and the addition of a new customer in the financial sector solidifies our position as a key player in providing products and services to this large potential market. We are committed to upholding our reputation for professionalism and quality of work in delivering innovative solutions to help its clients achieve their business goals."

About NTG Clarity Networks Inc.

NTG Clarity Networks' vision is to be a global leader in providing networking solutions. As a Canadian company established in 1992, NTG Clarity has delivered networking, IT (information technology) and network-enabled application software solutions to network service providers and large enterprises. More than 500 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading enterprises.

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