Sandbox Application Update & Appointment of Broker

12 May 2023

GSTechnologies Limited

("GST" or the "Company" or the "Group")

Sandbox Application Update

Appointment of Broker

GSTechnologies Limited (LSE: GST), the fintech company, announces that the Company has been informed by the UK Financial Conduct Authority ("FCA") that the expected final panel review meeting in relation to the Company's stablecoin application for admission to the FCA Regulatory Sandbox (the "Sandbox Application"), as announced on 20 February 2023, is no longer able to take place as scheduled due to unprecedented levels of sickness within the FCA team.  As a consequence, the FCA have indicated that they will now be able to provide a decision on the Sandbox Application by the end of May 2023, not mid-May as previously indicated.  In the meantime the Company has received the proposed Sandbox testing plan from the FCA and it continues to assist the FCA with their review of the Sandbox Application alongside advancing its other GS Money plans.

Further announcements will be made in due course, as appropriate.

Appointment of Broker

GST is pleased to announce the appointment of CMC Markets UK Plc ("CMC Markets") as the Company's broker with immediate effect.

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