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Extraordinary Announcement of 4iG PLC

Establishment of a new subsidiary

4iG PLC hereby informs the market that the Board of Directors of 4iG has decided to establish CarpathiaSat Magyar Űrtávközlési CPLC (Hereinafter: Subsidiary or CarpathiaSat). The Subsidiary was established with a registered capital of HUF 5,000,000 and a capital reserve of HUF 365,000,000 in which 4iG PLC has a 51% majority ownership and a controlling interest. In addition to 4iG PLC, Antenna Hungária CPLC has a 44% share and New Space Industries CPLC has a 5% share in CarpathiaSat.

With the creation of the Subsidiary, the goal of the founders is to launch and operate Hungary's first satellite suitable for commercial, governmental and scientific research mission in 2024 in a geostationary orbit. CarpathiaSat will have the right to operate the geostationary track section from 2024 for twenty years.

The strategic goal of 4iG PLC is to become the leading IT and info communication company not just in Hungary, but in the broader Central and Eastern European region, and to establish dominant position in the telecommunications sector. The launch and long-term operation of the first satellite for Hungarian broadcasting, Internet and telephone services, data transmission and other research tasks fits well into 4iG PLC's growth strategy.

“This year marks another important milestone in the 25-year history of 4iG. The establishment of the joint venture and the development and operation of the first Hungarian commercial satellite is a pioneering milestone that provides significant development potential and additional business opportunities for our company. In addition to informatics and info communications, we can also acquire significant expertise and skills in technology industries such as telecommunications or the space industry. In addition to the founding companies, our goal is to establish strategic collaborations with domestic and international companies with significant experience in the industry, and we also count on the collaboration of Hungarian universities and researchers in the programme”, emphasised Gellért Jászai, President and CEO of 4iG PLC, in connection with the announcement.

Budapest, August 17th, 2020

4iG PLC

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