Mr. Adam Zaghloul reports

NTG CLARITY EXTENDS FRAMEWORK AGREEMENT WITH SAUDI CUSTOMER BY FOUR YEARS, UP TO $100M CAD IN ADDITIONAL WORK

A customer in the IT sector in Saudi Arabia has extended its previously announced $53-million three-year framework agreement with NTG Clarity Networks Inc. by four additional years. The original agreement was signed in August, 2024, and was scheduled to expire in August, 2027. The extension moves the end of the term to August, 2031, approximately five years from today.

The rate card and commercial terms of the original agreement largely carry forward through the extended term. The extended term comes with an initial billing ceiling of approximately $100-million in additional work over the lifetime of the agreement and can be adjusted as demand requires. The gross margin on the contract is expected to be approximately 33 per cent.

This agreement provides a framework for NTG to operate an offshore development center in Egypt for this customer, who has trusted NTG with their business for multiple years. Over that time, our teams have become an integral part of how they deliver their technology programs. Years of performance and quality services have given them the confidence to renew for a longer term.

"In recent years, NTG has seen contract durations and values continue to grow, with one-year contracts becoming three-year contracts, and now becoming our first five-year contract," said Adam Zaghloul, vice-president of strategy and planning. "Extending through 2031 on the same terms reflects the value NTG has delivered and our record as a reliable, long-term partner. It also shows that enterprises in Saudi Arabia are still planning digital transformation work over a multiyear horizon."

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 1,400 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading enterprises.