Mr. Adam Zaghloul reports

NTG CLARITY ANNOUNCES WORK VALUED AT $1.8M CAD

NTG Clarity Networks Inc. has received four new purchase orders and one new contract for a total of $1.8-million in new work and renewals for new and existing customers in the financial, government and telecom sectors.

These contracts represent an expansion of NTG's business relationship with several key customers of both its outsourced services and software products. The breakdown of the work is as follows, with all customers in the Middle East:

• $690,000 in new work to provide offshore software QA and testing services for one year for an existing customer in the financial sector, with an expected gross margin of 40 per cent;
• $1.1-million in renewals:
  • $400,000 to provide offshore professional services for three months for an existing customer in the government sector;
  • $300,000 to provide a renewed licence support agreement for its NTGapps software platform for an existing customer in the telecom sector;
  • $230,000 to provide on-site professional services for one year for an existing customer in the government sector;
  • $180,000 to provide on-site professional services for one year for an existing customer in the financial sector.

Especially noteworthy is its new work in software testing as a service. As the Middle East continues its rapid digital transformation, software testing and quality assurance services are seeing rapidly increasing demand. NTG's vast network of software professionals and its ability to offshore in Egypt mean it can meet this demand at a competitive price.

"In addition to our software testing services, we're also excited about our renewed NTGapps licence support with our customer in the telecom sector," said Adam Zaghloul, vice-president, strategy and planning, of NTG. "This customer has been with us for over 10 years and has recently expanded their NTGapps implementation to help them with telecom field services management."

NTG's current work on hand (which includes unbilled POS as of Jan. 1, 2024, and new POS/contracts received and previously announced since then) are approximately $46.3-million, the majority of which is expected to be completed in 2024. This puts NTG in an increasingly strong position to meet its $50-million 2024 revenue target.

About NTG Clarity Networks Inc.

NTG's vision is to be a global leader in digital transformation solutions. As a Canadian company established in 1992, NTG has delivered software, networking and information technology 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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