GFT Technologies : CEO speech to investors at AGM

GFT Technologies SE

Investor Relations

70567 Stuttgart

Germany

Tel. [phone]

[e-mail]

www.gft.com

Annual General Meeting | 10 June 2021

Excerpts from the speech given by

Marika Lulay

CEO of GFT Technologies SE

The spoken word applies

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Dear shareholders,

Ladies and gentlemen,

I would also like to welcome you to this year's virtual Annual General Meeting. Thanks to technology, we can once again communicate with each other in this way - as we did last year - and following my speech we will be happy to answer the questions you have submitted.

But first things first - I have really been looking forward to this day as I have the pleasure of presenting some excellent figures and some really good news for the rest of the year.

The hard work of the past few years has paid off - GFT is in better shape today than ever before.

We got off to a strong start in the first quarter and the orders already received for the next few quarters indicate structural growth.

This growth is being driven by all our markets around the world - and by both existing and new clients in all three sectors we are targeting.

As a consequence, we recently upgraded our guidance for 2021. And this is also reflected in the GFT share price, which recently passed the 20 Euro mark.

All this goes to show: our strategy is paying off!

I would therefore like to focus my speech today on the future and explain why you, dear shareholders, should continue to invest in GFT.

Having said that though, let us first take a brief look at the financial year 2020.

The coronavirus pandemic was the dominant issue in all areas of life and the economy in 2020 and will continue to challenge us well beyond 2021.

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And yet, the pandemic was also a driving force for digital transformation, especially in the IT sector - a megatrend that has given added momentum to our cloud business. It has also paved the way for innovative banking solutions and further industrial automation.

Obviously, this ongoing digitisation trend is acting as a tailwind for our business. But even the strongest tailwind is of little use if you set sail with the wrong equipment. In recent years, we have experimented with new technologies, invested heavily in the corresponding expertise, and joined forces with new partners.

Many companies are now launching large-scale,long-term digitisation projects based on cutting-edge technologies such as cloud, artificial intelligence, DLT1 and data analytics2. Our many years of expertise in the markets of our clients have made us a very attractive partner for the implementation of these projects.

At the same time, meaningfulness and relevance are more important today than ever before. We want to be relevant for our clients, employees, partners and for you, dear shareholders - that is our objective in everything we do.

Clients choose GFT because what we do for them is highly relevant for their own future.

Our partners are intensifying their cooperation with us, because only together with us can their products and solutions be tailored to customer needs.

And our employees are also fully committed, because we offer our tech talents relevant and promising career opportunities in the field of digitisation.

1. Distributed Ledger Technology (DLT): a special form of electronic data processing and storage that can provide a high level of security against data manipulation.
2. Data analytics describes the recognition, interpretation and communication of patterns in data.

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In addition, we support our teams and also take care of each individual. In the last 15 months in particular - during which all staff worked almost entirely from home - we created a culture of cohesion with a high level of communication, with health programmes as well as with support for all areas of life.

We acted as a UNITED team and achieved outstanding results together. There were many individuals who surpassed themselves.

On behalf of the Administrative Board and the Managing Directors - and I am sure also on behalf of you, dear shareholders - I would therefore like to express my sincere gratitude to our employees for their outstanding efforts.

In these challenging times in particular, we have proven as a team that not only our business model but also our internal structures are extremely robust. GFT has a solid foundation capable of withstanding crises.

What's more, we are convinced that the intelligent use of IT is an essential part of our lives. In 2020, we therefore succeeded once again in continuing our stable development while at the same time exploiting growth opportunities which will pay off now and in the future.

Ladies and gentlemen,

Let us first take a look at the progress made with regard to our diversification.

Business with our clients in the insurance sector accounted for 14% of consolidated revenue in 2020; corresponding to year-on-year growth of 23%.

This means that we have already reached the target set before Covid-19. The demand for digital transformation remains strong, especially in North America and Europe.

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In our core market, the banking sector, we succeeded in gaining new clients with attractive offerings while at the same time strengthening our business with existing clients. This significant expansion of our customer base enabled us to reduce the proportion of total revenue generated with our top-2 clients to 21%, in line with planning.

The revenue share of exponential technologies3 rose from 30% of total revenue in 2019 to 42% in 2020.

According to market analysts, such as Gartner, cloud solutions emerged strongly from the crisis year 2020 due to their flexibility and stability. They are becoming increasingly important for companies, especially against the backdrop of growing demands and simultaneously lower IT budgets. Over the next 5 years, our markets are expected to achieve annual growth rates of around 20%.

We are convinced that we can fully exploit the enormous potential of these new technologies with the right partners at our side. In 2020, we therefore strengthened our strategic partnerships. Our strong investment in raising digital expertise in the field of system integration with Amazon Web Services, the Google Cloud Platform and Microsoft Azure4 has been honoured with several awards.

Our clients rewarded this high level of commitment with their orders. We successfully completed 400 cloud projects with Amazon Web Services, Google and Microsoft, and as a consequence have almost doubled our team of cloud experts to over 900.

1. Exponential technologies are defined as DLT/blockchain, artificial intelligence, data analytics, cloud and DevOps.
2. Amazon Web Services (AWS), Google Cloud Platform (GCP) and Microsoft Azure are among the top cloud providers. They all have the common elements of a public cloud: self-serviceand instant provisioning, autoscaling, and security, compliance and identity management features.

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