WPTG has created a track record of delivering sound performance through an innovative ICT and diversified business model and has been profitable from the start. H1:2025 saw the company deliver a record performance whilst accelerating strategic expansion through targeted acquisitions. 

Today WPTG announces that revenue for the third quarter of 2025 is expected to be in the range of SEK 130-135 m, compared with SEK 86 m in the corresponding quarter 2024. The outperformance reflects stronger sales momentum across multiple markets and service lines.

As a result of this development, full-year 2025 revenue is now expected to exceed previous forecast of SEK 470m with 5-10%. 

In addition, based on the current sales trajectory and pipeline strength, Group revenue in 2026 is anticipated to surpass initial projections under WPTG’s 2028 strategic plan. The group is currently targeting revenue of SEK 572m in 2026.

WPTG is planning to issue an updated 2028 forecast with it’s 2025:Q3 report on 5th November 2025.

WPTG continues to execute its strategy of combining organic growth with selective acquisitions to strengthen its global platform, with a focus on long-term value creation for shareholders.

While WPTG continues to benefit from its strong performance across high-growth emerging markets, the company is now accelerating investments in Sweden and the Nordics to balance its global footprint. This strategy includes:

• Strategic Acquisitions – WPTG is actively pursuing acquisitions of high-tech, innovative businesses in Sweden and the Nordic region. The focus will be on companies with complementary capabilities in advanced digital services, where WPTG can create value through cross-selling and up-selling across its international customer base.
• Organic Growth through Talent – The company is scaling its local workforce by hiring new resources and investing in existing teams. This will strengthen its ability to deliver cutting-edge solutions to Nordic clients while creating long-term local employment opportunities.
• Leveraging Global Hubs – By integrating outsourcing capacity from its lower-cost delivery hubs, WPTG will bring competitive, scalable solutions to Swedish and Nordic clients. This model ensures cost efficiency while maintaining world-class quality and innovation.

“Our Swedish roots remain central to who we are as a company. By accelerating growth in our home market and across the Nordics, we aim to balance our global presence, reduce market discounting perceptions, and deliver long-term value to our shareholders,” said Marco Marangoni, CEO of WPTG. 

“We see significant opportunities to acquire innovative businesses locally, nurture Nordic talent, and export that innovation globally through our established client base,” added Ebrahim Later, Founder and Strategic Advisor to WPTG.

With revenue of SEK 233 million in the first half of 2025 (up 67% from 139 MSEK in H1 2024) and operations spanning 20 countries, WPTG is positioned to bridge innovation from Sweden and the Nordics to fast-growing international markets. This balanced approach will drive sustainable growth and reinforce WPTG’s standing as a trusted technology partner across continents.

DATE: September 11^th
TIME: 10:30 AM ET
LINK: REGISTER HERE
Available for 1×1 meetings: September 15

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates. Learn more about the event at www.virtualinvestorconferences.com.

Recent Company Highlights

• On August 6, WPTG published its interim report for H1 2025, with Revenue for the six months increased 67% to 232.5 MSEK (139.4) and EBITDA for the six months increased 86% to 37.1 MSEK (20).
• Recent analysts’ reports have been published by:
  • Carlsquare
  • Simply Wall Street

About Virtual Investor Conferences®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access.  Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Contact at Virtual Investor Conferences:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com 

Top4 operates a three-tier subscription model serving 200,000 clients globally, mirroring successful fast-food franchising approaches with low entry costs and scalable enterprise packages. The structure progresses from free business listings to premium local SEO services (multi-location support, social media integration, priority search ranking) through to enterprise solutions.

Partner distribution through CrazyDomains and Vendasta embeds Top4 subscriptions into domain/hosting purchases, reducing acquisition costs whilst driving natural tier progression that increases average revenue per user. This proven subscription foundation provides sustainable annuity income and ready-to-deploy frameworks for WPTG’s six-region expansion strategy.

Leadership and Track Record

Michael Doyle has been appointed Executive Director APAC to lead Top4’s expansion across the Asia-Pacific region. Doyle brings over 25 years of digital marketing expertise to WPTG’s integrated service portfolio, having founded Top4marketing.com, Top4.com.au, and Top4.online.

Based in Surabaya, Indonesia, Doyle has built Top4 into an AI-powered platform serving over 200,000 businesses globally through 1,750+ successful campaigns. Under his leadership, Top4 has delivered digital marketing solutions for notable clients, including BMW, Ajinomoto, Dulux Group, Jeld-Wen, and B+D doors, alongside government departments and franchise operations.

Two-Phase Global Expansion Strategy

The initial expansion phase focuses on three key regions with immediate market opportunities; Asia-Pacific, strengthening operations in Australia and market entry into Japan, Top4 SADC which will serve the Southern African Development Community across 16 member states representing over 350 million potential customers and Top4 Middle East, operating from Dubai and which will service the UAE and Saudi Arabian markets.

The second phase extends Top4’s presence into three additional strategic markets: Top4 Sweden, providing local digital marketing capabilities for Nordic clients and European expansion opportunities, Top4 East Africa Complementing the SADC operations with coverage of East African markets, creating comprehensive continental service capabilities, Top4 Latin America, expanding WPTG’s geographic coverage and accessing high-growth digital marketing opportunities.

The phased expansion approach establishes South Africa as the regional hub for Top4’s services across Africa and the Middle East. This geographic strategy aligns with WPTG’s existing presence in emerging markets while introducing specialised digital marketing capabilities to underserved regions.

Enhanced Service Portfolio

Top4’s integration brings WPTG a complete digital marketing technology stack, including proprietary location-based marketing platforms and AI automation tools. The acquisition specifically strengthens WPTG’s digital marketing portfolio through Search Engine Optimisation, Paid Advertising Management, Marketing Automation, Content Marketing: Comprehensive content creation and distribution systems and Location-Based Marketing.

Top4’s proprietary marketing technology enhances WPTG’s technical service portfolio through complementary digital marketing platforms, providing WPTG clients with access to comprehensive digital transformation solutions spanning infrastructure, system integration, and marketing technology implementation.

The interview can be found here:

The full report in English can be found here:
https://carlsquare.com/equity-research-white-pearl-a-hidden-gem-among-the-tech-companies/

The full report in Swedish can be found here:
https://carlsquare.com/sv/analys-white-pearl-en-dold-parla-bland-teknikbolagen/

The analysis is a so-called commissioned analysis where the analysed company has signed an agreement with Carlsquare for analysis coverage. The analyses are published continuously during the contract period and against customary fixed remuneration.

Key Transaction Details

• Acquisition price: SEK 5.5 million for 100% ownership
• Performance warrants: Additional consideration triggered upon revenue reaching SEK 15 million
• Payment structure: 50% cash, 50% WPTG shares
• Target company revenue: SEK 13 million (2025)
• Target company profit: SEK 2.4 million (2025)
• Transaction supports WPTG’s Smart Infrastructure expansion across Africa

Strategic Rationale

This acquisition represents a cornerstone investment in WPTG’s Smart Infrastructure pillar, specifically targeting Africa’s rapidly growing infrastructure market. Afrison operates three complementary divisions: Afrison LED (industrial LED lighting manufacturing with ISO 9001 certification), Afrison Solar (comprehensive solar solutions), and Afrison Assyst (project solutions and supply chain optimisation).

The acquisition addresses Africa’s critical infrastructure modernisation needs, where smart lighting becomes the foundation for broader IoT networks, energy management systems, and sustainable urban development. Africa’s infrastructure investment needs exceed $100 billion annually, with smart lighting and energy efficiency representing rapidly growing segments.

Johan Cloete, Head Private Sector Africa at WPTG, stated: “Afrison represents exactly the type of smart infrastructure play we’ve been developing across Africa. Their innovative LED lighting and solar solutions address fundamental challenges in industrial environments, from mining operations to manufacturing facilities. This acquisition accelerates our ability to deliver comprehensive smart infrastructure solutions that improve safety, reduce costs, and enhance productivity for our African clients.”

Ebrahim Laher, Founder and Strategic Advisor to WPTG, added: “This acquisition perfectly aligns with WPTG’s vision for smart infrastructure across Africa. Afrison’s proven capabilities in IoT-enabled lighting and solar solutions provide the foundation we need to lead the continent’s transition toward intelligent infrastructure ecosystems.”

Product Portfolio and Market Position

Afrison’s product portfolio significantly enhances WPTG’s smart infrastructure capabilities across multiple sectors. Their industrial LED lighting solutions feature lifetimes of over 80,000 hours, IoT compatibility with DALI systems, and specialised explosion-proof variants for hazardous industrial environments. The company’s solar division provides end-to-end solutions from design to installation and maintenance across Southern Africa.

Key applications span intelligent street lighting for enhanced public safety, energy-efficient industrial solutions for mining and manufacturing operations, and integrated renewable energy systems. The acquisition positions WPTG to deliver comprehensive smart city initiatives that incorporate lighting, energy management, and IoT connectivity.

Financial Impact

The acquisition provides immediate revenue contribution of SEK 13 million annually with strong profitability of SEK 2.4 million. The performance-based warrant structure incentivises revenue growth to the SEK 15 million threshold while maintaining disciplined capital allocation. With expansion potential across WPTG’s 30+ country network, the acquisition offers significant synergies with existing operations in Africa and the Middle East.

About Afrison

Afrison is a leading South African smart infrastructure company dedicated to transforming living and working environments through innovative lighting and solar solutions. The company manufactures cutting-edge industrial LED lights and supplies high-quality solar equipment, with a focus on sustainability, energy efficiency, and local talent development across Southern Africa.

(Consolidated group results Q2 2025 compared to Q2 2024)

• Revenue for Q2 increased 140% to 133.6 MSEK (55.7)
• EBITDA for Q2 increased 84% to 21.2 MSEK (11.5)
• EBITDA margin in Q2 was 15.8% (20.6%)
• EBIT for Q2 increased by 86% to 21.2 (11.4)
• EBIT margin in Q2 was 15,8% (20,5%)
• EPS (and EPS after dilution) for Q2 increased 107.5% to 0.83 SEK (0.40)

(Consolidated group results H1 2025 compared to H1 2024)

• Revenue for the six months increased 67% to 232.5 MSEK (139.4)
• EBITDA for the six months increased 86% to 37.1 MSEK (20)
• EBITDA margin was 16% (14,3%)
• EBIT for the six months increased by 87% to 37 (19,8)
• EBIT margin was 15,9% (14,2%)
• EPS (and EPS after dilution) for the six months increased 94% to 1.4 SEK (0.72)
• H1 showed strong operating cash flow of 29.4 MSEK (3)

The company now reports revenue broken down in six segments and their share of revenue has been:

Segment	FY 2023	FY 2024	Q1 2025	Q2 2025	Change FY23-Q2’25
System Integration	41%	28%	26%	26%	-15 pp
Managed Services	34%	37%	37%	22%	-12 pp
Digital & Emerging Technologies	6%	13%	17%	18%	+13 pp
Licensing and SaaS	14%	17%	13%	11%	-3 pp
People Solutions/BPO	2%	2%	3%	19%	+17 pp
Smart Infrastructure	3%	3%	4%	4%	+1 pp
Total	100%	100%	100%	100%

The H1 geographical revenue distribution was:

• Africa: 42% (South Africa, Lesotho, Ethiopia, Tanzania, Malawi, Kenya)
• Middle East: 24% (UAE, Egypt, KSA, Oman)
• Europe: 18% (Nordics)
• Asia Pacific: 12% (India)
• Latin America: 4% (Uruguay, Argentina, Brazil)

CEO Marco Marangoni concluded in his comments that WPTG is well on track to meet the financial targets both for 2025 and the vision of 827 MSEK revenue in 2028 with an EBITDA margin of >17%.

He reiterated the company’s strategic priorities for H2 2025:

• Maintaining growth momentum through organic expansion and strategic acquisitions
• Expanding our Smart Infrastructure and Digital & Emerging Technologies segments
• Leveraging our global delivery network
• Strengthening our competitive moat through proprietary IP development

The full report can be found in the attached pdf and on the company’s website:
https://whitepearltech.com/financial-reports-2/

Key Points:

• Strategic Partnership: Five-year Master Distribution Agreement with ITsMine Ltd for Africa
• Advanced Technology: A unified data protection and cybersecurity platform empowering organizations to defend against advanced ransomware threats of the modern era.
• Operational Structure: White Pearl Africa to manage distribution and operations
• Enhanced Portfolio: Significantly expands WPTG’s cybersecurity solutions globally

This partnership empowers WPTG to deliver ITsMine’s robust data protection platform, designed to defend against sophisticated double and triple extortion ransomware threats, implemented in Fortune 500 companies. It ensures organizations can safeguard their most valuable digital assets, even in environments leveraging advanced AI tools.

Strategic Rationale

ITsMine’s platform addresses critical cybersecurity challenges by offering agentless data protection solutions that significantly reduce implementation complexity while delivering superior threat detection and response capabilities. The technology provides comprehensive protection against double and triple ransomware attacks, data breaches, and insider threats without disrupting business operations.

Marco Marangoni, CEO of White Pearl Technology Group, commented: “This partnership with ITsMine represents a significant expansion of our cybersecurity capabilities and aligns perfectly with our strategy to deliver cutting-edge security solutions across emerging markets. ITsMine’s innovative approach to data protection addresses one of the most critical challenges facing organisations today – securing sensitive information in an increasingly complex digital landscape. “

Kfir Kimhi, Co-Founder & CEO of ITsMine Ltd., added: ” Amid the growing wave of data leakage attacks orchestrated by global ransomware groups, we are thrilled to partner with WPTG to expand our comprehensive data protection solutions into new markets across Africa. With WPTG’s strong regional footprint and deep insight into local market dynamics, they are the ideal ally to scale our cutting-edge cybersecurity platform. Together, we aim to equip organizations with the advanced security capabilities needed to safeguard against today’s most sophisticated cyber threats.”

ITsMine’s comprehensive cybersecurity platform offers rapid Implementation, quick agentless deployment compared to traditional security solutions and an advanced threat detection as well as sophisticated monitoring and response capabilities.

ITsMine.io Managed Data Protection (MDP) solution is purpose-built to counter triple and double extortion ransomware attacks by offering real-time alerts when data exfiltration begins, detailed visibility into which files have been compromised, and a powerful RED BUTTON feature that enables organizations to irreversibly destroy critical data – even if stored offline by attackers – while providing auditable proof to regulators that the stolen information was rendered unusable.

Market Impact and Implementation

The partnership will be managed through White Pearl Africa (Pty) Ltd., a wholly-owned WPTG subsidiary, ensuring dedicated focus on regional market development and customer success. WPTG will leverage its established presence across 30+ countries to accelerate ITsMine’s market penetration while providing comprehensive pre-sales, implementation, and ongoing support services.

Key leadership appointments include Mike Dean as Sales Lead for ITsMine Africa and Sean Wainer as Technical Lead, bringing specialised expertise to drive regional growth and technical excellence.

Financial and Growth Projections

This partnership is set to drive aggressive, year-over-year revenue growth, aiming to more than double annual revenues over the next five years. The agreement encompasses end-to-end support, including comprehensive pre-sales engagement, implementation, and robust post-sales services to ensure long-term customer success.

This strategic alliance strengthens WPTG’s position as a comprehensive technology solutions provider while extending cutting-edge cybersecurity capabilities to organisations across emerging markets worldwide.

About ITsMine Ltd.:

ITsMine Ltd. was founded in 2017 by a group of experts, aimed at offering a new, unique, and proactive approach to the never-ending nightmare that is traditional data protection solutions. ITsMine is a leading cybersecurity company specialising in comprehensive data protection solutions. With one headquarter in Delaware, USA, the company’s platform provides enterprise-grade security that protects organisations against data breaches, ransomware attacks, and insider threats while maintaining operational efficiency and reducing complexity.

Key Points:

• Purchase price: SEK 2 million in shares
• Expected annual revenue: SEK 2.1 million
• Strategic focus: High-end technical resourcing services
• Market expansion: New service segment in Africa
• Talent enhancement: Augments WPTG’s comprehensive offering across the continent
• Effective date: Pending successful completion of due diligence

The acquisition of Belay Talent Solutions represents a significant milestone in WPTG’s African expansion strategy, introducing high-end technical resourcing as a new service segment to complement the Group’s existing digital transformation offerings across the continent. The People Solutions and Recruitment space is strategic for customer entry and growth and follows on from the purchase of Lumin4ry in Sweden during 2025.

Strategic Rationale

Belay Talent Solutions specialises in connecting premium technical talent with leading enterprises across the South African market. This acquisition will enhance WPTG’s ability to deliver comprehensive end-to-end solutions by combining technical expertise with world-class human capital services.

Marco Marangoni, CEO of White Pearl Technology Group, commented: “The acquisition of Belay Talent Solutions whilst small marks the next step in filling our IT solution stack. Their strong client relationships and technical expertise complement our existing operations and will help accelerate our expansion across the continent.”

Aja Eloff, CEO of Belay Talent Solutions, added: “Joining WPTG provides an excellent platform for our continued growth. We look forward to leveraging WPTG’s international presence and broader service offering to benefit our clients across Africa.”

Market Impact

This acquisition strengthens WPTG’s position in the African technology services market and provides a foundation for expanded talent-driven offerings. The combination of Belay Talent Solutions’ technical resourcing expertise with WPTG’s comprehensive digital transformation capabilities creates enhanced value for clients seeking integrated technology solutions.

The transaction is expected to have a positive impact on WPTG’s operational capabilities and service diversification in the African market, subject to the successful completion of the due diligence process.

About Belay Talent Solutions

Based in South Africa, Belay Talent Solutions (www.belay-ts.co.za) has established itself as a provider of high-end technical resourcing services, specialising in connecting skilled technology professionals with leading enterprises across the African market. The company’s focus on quality technical talent and specialised expertise aligns with WPTG’s commitment to delivering exceptional value to clients across diverse markets.