Mr. Adam Zaghloul reports

NTG CLARITY ANNOUNCES $4.5M IN CONTRACTS, BRINGING US CLOSER TO $50M TARGET REVENUE FOR 2024

NTG Clarity Networks Inc. has signed two new contracts. These contracts are for $4.5-million in new work and renewals for two different departments of the same existing customer in the financial sector in the Middle East.

These contracts are to perform data platform and digital factory work, and this is the third institution for whom we have performed this type of work. Billable work is to begin immediately for both contracts. The breakdown of the work is as follows:

• $2.35-million in contracts for new work:
  • To provide on-site professional services for one year to do digital factory work for an existing customer in the financial sector in the Middle East.

• $2.17-million in contracts for renewal work:
  • To provide on-site professional services for one year to perform data platform enhancements for an existing customer in the financial sector in the Middle East.

NTG's current work on hand (which includes unbilled POs (purchase orders) as of Jan. 1, 2024, and new POs/contracts received and previously announced since then) is approximately $44.5-million, the majority of which is expected to be completed in 2024.

"It's exciting to see another institution decide to work with us to build their digital factory," said Adam Zaghloul, vice president, strategy and planning of NTG Clarity. "These contracts solidify our path to reaching our ambitious revenue target of $50-million for 2024."

About NTG Clarity Networks Inc.

NTG Clarity Networks' vision is to be a global leader in digital transformation solutions. As a Canadian company established in 1992, NTG Clarity has delivered software, networking and IT solutions to large enterprises including financial institutions and network service providers. More than 600 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading enterprises.

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