- FCA change of control consent satisfies the key regulatory condition to complete acquisition of Shackleton Finance

- Upon completion, Gorilla Tech Capital will structure SPVs to accelerate non-dilutive project funding across Gorilla's AI infrastructure pipeline

London, United Kingdom--(Newsfile Corp. - April 8, 2026) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence, IoT technology and data centres, today announced that the UK Financial Conduct Authority ("FCA") has approved the change of control of Shackleton Finance Limited ("Shackleton Finance"), a UK authorised Alternative Investment Fund Manager ("AIFM") and subsidiary of Shackleton Ventures.

This approval satisfies the key regulatory condition for completion of Gorilla's acquisition of Shackleton Finance. The transaction is expected to close in the near term. Following completion, Shackleton Finance will be rebranded to Gorilla Tech Capital and will operate as Gorilla's dedicated FCA-regulated capital platform.

"The FCA's approval is a landmark moment for Gorilla and signals a step change in how we will finance and scale our AI infrastructure pipeline," said Jay Chandan, Chairman & Chief Executive Officer of Gorilla. "We have built a high conviction pipeline across ASEAN, India, the Middle East and Europe. Gorilla Tech Capital will give us a regulated platform to bring in co-investors at the project level, accelerating delivery while preserving the strength of the group balance sheet."

The FCA approval is a major milestone in Gorilla's strategy to build a regulated non-dilutive funding model for sovereign scale AI infrastructure. Shackleton Finance's FCA-regulated platform and fund management capabilities will be combined with Gorilla's origination and delivery strengths to create an integrated originate-finance-and-operate model for critical digital infrastructure.

Through Gorilla Tech Capital, the Company expects to structure special purpose vehicles ("SPVs") to co-invest in and provide partial equity funding for specific infrastructure projects, alongside institutional and other qualified investors. This approach is designed to accelerate deployment across Gorilla's pipeline, including AI data centres, GPU-as-a-Service programmes and sovereign infrastructure initiatives, while maintaining balance sheet discipline and minimising shareholder dilution. Gorilla is targeting $2 billion to $3 billion of funds under management by the end of 2027.

It is intended that Shackleton Finance's senior management team will remain in place following completion to maintain regulatory continuity and responsible stewardship of existing funds.

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Data Centres, 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: .

About Shackleton Finance Limited/Gorilla Tech Capital

Shackleton Finance Limited is a UK-based Alternative Investment Fund Manager, authorised and regulated by the Financial Conduct Authority. Subject to completion of the acquisition by Gorilla Technology Group, Shackleton Finance will be rebranded as Gorilla Tech Capital and will operate as the Company's regulated capital platform, focused on institutional investment in AI data centres, GPU-as-a-Service deployments, sovereign infrastructure, and adjacent digital infrastructure assets.

Note: This announcement is issued for information purposes only. It does not constitute a financial promotion within the meaning of section 21 of the Financial Services and Markets Act 2000. No fund, investment vehicle or specific investment opportunity is in existence at the date of this announcement, and no offering of any kind is being made or solicited by or through this announcement.

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", "targeting" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our ability to consummate the acquisition of Shackleton, our ability to raise third-party capital for and establish funds under the Gorilla Tech Capital platform at the scale indicated, our ability to negotiate investments in our projects from new Gorilla Capital funds on an arm's-length basis, and 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 filed 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 materialize, 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.

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