Shareholder letter published December 20, 2021:

Glex at NOTC

As previously predicted in connection with the issue, Glex has aimed for investors to be able to buy and sell the Glex share. Then it is gratifying to be able to announce that an application for admission to NOTC has been granted, and that trading will start on Tuesday Dec 21, 2021, at 9 AM.


Application filed for pre-project research funding

Glex and partners NTNU, EMGS and Rocktype (UK) have applied for funding for a preliminary project to build digital platforms for knowledge transfer from the oil and gas industry to one of the most exciting future industries, namely the extraction of seabed minerals. Glex's idea and solution for collecting and visualizing data from various sources is completely in line with the requirements of tomorrow's industry, both in terms of sustainability, efficiency and innovation.

Extraction of seabed minerals as an industry is at a very early stage, and it looks like the announcement of production licenses will take place no earlier than 2024. Nevertheless, a number of companies are making big plans and have raised significant funds in the capital market. The analysis company Rystad Energy operates with scenarios where the industry is expected to have a turnover of up to NOK 180 billion in 2050, in which case this could be one of Norway's most important industries. Glex's stated goal is to be able to take a leading position as a supplier of data and collaboration platform for both operators and the service industry.


Released Wells Initiative - opportunities for the future

A key part of our commitment, and something we have been working on since the beginning of 2020, is a development project based on the industrial project "Released Wells Initiative" (RWI), which we just introduced in the previous shareholder letter.

Glex works, on behalf of our customers who own the data, to make available, analyze and visualize approximately 40 terabytes (over 2.1 million files / over 700,000 samples from 1350 exploration wells) with data from the project, which includes well logs, photos and reports. We are developing a framework for advanced analysis and machine learning, which will allow users to extract great value from the enormous data base that is available. We also develop innovative interfaces that give the user what we call "Actionable intelligence". Our approach has been well received in the market, both with potential partners, research environments and oil and gas companies.

We are actively working on signing collaboration agreements with several players related to this project, which we will publish in the coming months, and we have an active dialogue with several potential customers.


Glex is hiring

We are well under way with advertisements and interviews of relevant developers, which we need quickly to be able to take on board new customers in all market segments. We experience a good response to the positions. More info at https://glex.no/careers

Glex guest at “Technology and People Podcast”
On 14 December, CEO Jørgen Engen Napstad was a guest on the podcast “Technology and People”, a data industry podcast from Atea and the Oslo Business Forum. The theme of this broadcast is strategic use of cloud platforms for businesses. According to an international survey from Infosys, cloud services create enormous value for businesses through increased efficiency and new services. The estimates of increased profits are formidable. Link to the episode:

https://open.spotify.com/episode/0exahlA9AgBKpKwxDwXaW8?si=67432d9569084437

Contact:
Enquiries: contact@glex.no	
CEO Jørgen Engen Napstad +47 934 06 526

About Glex:
Glex is a software company that develops advanced analysis and collaboration tools for energy and industrial companies. Our first product, Glex Energy, has been in development since 2016, and today has several paying energy companies on its customer list. Glex Energy will be a leading collaboration tool and data-sharing platform for anyone working on industrial energy decisions, whether exploring or producing hydrocarbons, seabed minerals or exploiting offshore wind or potential reservoirs for carbon storage.