- Recent capital raising supports the execution of signed and developing AI infrastructure programmes - -Yotta deployments progressing ahead of current internal schedules -- Korat 200MW AI data-centre campus advances through power, engineering and customer engagement workstreams - London, United Kingdom - Newsfile Corp. - July 21, 2026 - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), a global provider of AI-driven infrastructure, security intelligence and data solutions, today announced that the completion of its two recent bond financings, raising aggregate gross proceeds of $232 million, is enabling the Company to accelerate execution across its AI infrastructure programmes in India, Indonesia and Thailand. The most recent financing is being deployed principally towards the NeutraDC Batam programme while the earlier financing supports Gorilla's equity contribution to the Yotta 2 programme. Jay Chandan, Chairman and Chief Executive Officer of Gorilla Technology, said: "There has been considerable market attention on the financing instrument but a lack of focus on the signed commercial programme that the financing enables. What should shareholders focus on? Not the financing itself, but the hundreds of millions of dollars in annualized revenue those financings have made possible. This is not capital raised in the hope that Gorilla will subsequently find a customer or identify a project. The customer contract is signed, the data-centre capacity has been secured and the deployment programme is moving into execution. The financing provides the capital required to connect those elements and begin delivery. The market is entitled to scrutinise every financing. Management is equally responsible for explaining what that financing supports. In this case, our $125 million capital raise is helping Gorilla execute a signed contract representing approximately $2.5 billion of expected revenue over five years alongside separate financing offers covering approximately 70% of expected project costs. Growth on this scale cannot be funded by rhetoric. It requires disciplined access to capital, strong counterparties and capital deployed against contracted demand. That is precisely what Gorilla is doing. Capital is not the destination. It is the bridge between signed customer demand and revenue-generating infrastructure. I will not allow short-term market volatility to distract us from the work in front of us. Our focus is deployment, revenue, cash generation and profitability. The bonds are a financing instrument. The measure of this management team will be the business we build with them." Bruce Bower, Chief Financial Officer of Gorilla Technology, said: "Across the two recent financings, Gorilla has secured approximately $232 million of long-term corporate capital to support the GPUaaS programme. We continue to match corporate equity, project-level debt, asset-backed financing, and operating cash flows to the specific requirements and duration of each project. As deployments become operational, our objective is to use the cash generated by the underlying projects to support subsequent phases of growth and progressively reduce the amount of corporate-level capital required." Indonesia: NeutraDC Batam Remains on Schedule The NeutraDC Batam programme remains on schedule. The Company's most recent financing provided the corporate equity capital required to make advance payments, secure committed data-centre capacity and commence equipment procurement, logistics, integration and mobilisation for the initial deployment phases. The first phase is expected to be deployed in two tranches, with the initial tranche targeted for September 2026 and the second targeted for December 2026. The remaining contracted capacity is expected to be delivered during the first half of 2027. Revenue is expected to commence as contracted capacity is deployed and accepted in accordance with the customer agreement. The programme supports a signed five-year AI compute infrastructure contract representing approximately $2.5 billion of expected revenue, including approximately $1.3 billion from its first phase. India: Yotta Deployments Advancing Ahead of Schedule The Company's earlier financing was raised principally to support Gorilla's equity contribution to the Yotta 2 programme, which is structured to support the deployment of 20,736 next-generation GPUs in New Delhi, India. Deployment activities for Gorilla's Yotta 1 and Yotta 2 programmes in India are progressing ahead of the Company's current internal schedules. For Yotta 1, the Company is advancing the installation, integration, networking and operational-readiness work required to bring the initial GPU infrastructure into service. The current programme comprises 640 high-performance servers with 5,120 GPUs. Gorilla has funded the initial mobilisation and deployment expenditure for Yotta 1 from its existing cash resources. The Yotta 1 programme is expected to...