Gorilla Technology Increases Share Repurchase Buyback Programme to $20 Million

Board of Directors' Capital Allocation Strategy Seeks to Reinforce Confidence in Gorilla's Intrinsic Value

London, United Kingdom - Newsfile Corp. - October 21, 2025 - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology, today announced that its Board of Directors has increased the authorised capacity under its previously announced share repurchase programme to $20 million, reinforcing the Company's belief that its current market valuation does not reflect its true strength, growth trajectory, and financial performance.

"Gorilla's management and Board are implementing a capital allocation strategy that seeks to return value to shareholders consistently and optimally," said Jay Chandan, Chairman and CEO of Gorilla Technology. "We believe the Company's current trading levels do not reflect the intrinsic value of Gorilla, which includes several recent operational milestones. In the past few months, Gorilla has executed a $1.4 billion AI data centre contract, launched a post-quantum cryptography (PQC) Quantum-Safe Software-Defined Wide Area Network (SD-WAN) Initiative, and announced business wins in the Asia-Pacific region. This is all in addition to the world class partnerships we've announced earlier this year. Our team will continue executing on our growth strategy as we identify and implement the most effective methods to deliver strong returns for our shareholders."

The Company currently has approximately $107 million in free cash and $120 million of restricted cash. This cash balance reflects considerable recent spending on obligations under existing contracts, research and development, and increases in headcount. Between cash on hand and scheduled customer payments on active projects, Gorilla believes it has sufficient working capital for its near-term project commitments and continues to work on securing additional capital sources for future project requirements that will be non-dilutive to its shareholders. While currently in a blackout period, the Company is prepared to utilise the full available capacity of the share buyback programme upon the release of third quarter financials and related business updates if its share price does not by that time reflect its intrinsic value and long-term potential.

In parallel to this increase to its share repurchase programme, the Company also will be submitting new trading data and related evidence regarding unusual trading patterns observed in its stock, including what it believes to be aggressive shorting and possible naked short activity to the U.S. Securities and Exchange Commission (SEC), upon the reopening of the U.S. government. Gorilla intends to continue engaging through all appropriate regulatory channels to ensure transparency and fairness for its investors.

Upcoming Earnings Release

The Company expects to release its third-quarter 2025 financial results in mid-November 2025. Further details, including the exact date and dial-in information for the earnings call, will be announced in due course.

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Gorilla's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about future revenues, our ability to attract the attention of customers and investors alike, Gorilla's ability to win additional projects and execute definitive contracts related thereto, along with those other risks described under the heading "Risk Factors" in the Form 20-F Gorilla will file with the Securities and Exchange Commission (the "SEC") on April 30, 2025 and those that are included in any of Gorilla's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor Relations Contact:

Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

Public Relations Contact:

Samantha Dowd
Prosek Partners
GRRR@prosek.com

The issuer is solely responsible for the content of this announcement.