Gefen International AI Progresses Growth Strategy in December Quarter

Information may not be reliable

TEL-AVIV, Israel,  6February, 2022 -. Gefen International AI (GFN:ASX) which focuses on providing omnichannel digital hubs to connect agents, customers, and carriers, released on January 31,2022 its report on the Company's operating activities along with the Appendix 4C for the quarter ended 31 December 2021 (Q4 FY21).

Highlights within the Quarter:

• Cash receipts from customers up 7.67% quarter on quarter (QoQ) to US$2.93 million

• Number of end customers using Gefen Arena platform up 66% (QoQ) to 296 thousand

• Number of premium Arena agents using the platform up 17% (QoQ) to 2,210

• Number of Arena events recorded in the Gefen platform up 78% (QoQ) to 1,139,334 thousand

• Completion onboarding five midsize agent networks which are expected to have a full impact on revenue from 2022 onwards

·         In accordance with growth strategy in the IPO Prospectus, commercial agreements being considered to acquire and commence the onboarding of an independent “agents network” focused on life insurance and Property and Casualty (P&C) Insurance, among others for the Gefen Arena operation

• Appointed Mr. Sammy Bercovich as Gefen Head of Operations

·  Gefen is fully funded to execute its growth strategy outlined in its Prospectus

Mr. Orni Daniel, Gefen international’s co-founder and co-CEO, said: “The December quarter was an important one for Gefen, as we could win and onboard strategic agent networks, with a long onboarding process due to its size and potential, of which we have started collecting revenues from, early in January 2022. We are very pleased with the Gefen Arena, which is seeing sustained growth across all key metrics and we are excited about some of the partnerships we have recently secured. In line with our intention to increase our product and services offering, we have continued adding important features and modules which continue to reduce the labor work done by the agents and advisors, as well as opening up more revenue opportunities, improving their top line and the share of wallet of the customers. We are confident about our execution plans for 2022 which have started strong, and excited about our growth initiatives that will deliver significant value to our shareholders in the quarters ahead.”

About Gefen Technologies

Gefen International is the world's first platform provider that transforms agent-based networks into digital sales fleets.

Gefen’s platform enables the fast transformation of existing agent networks at a large scale, empowering agents, and the brands they represent to thrive in today’s digital-first world. It is the only solution that enables the digital distribution of business strategy, tactics, and processes through agents all the way to the last mile - the end customer.

Agent networks and global enterprises that have deployed Gefen's fully automated technology benefit from unique insights on their customers, compliance-at-scale, and a more satisfied sales force. Agents become more efficient, productive and professional while also exceeding customer’s omnichannel service and sales expectations. Gefen is already being used by some of the world’s leading insurers and is currently expanding into new sectors and verticals.

With Gefen, any agent becomes a digital expert in an instant. Transform your agents into an entirely evolved digital distribution fleet - with unparalleled business results.

 To learn more visit gefentechnologies.com.

Forward-Looking Statements and Disclaimers

This release contains forward-looking statements and comments about future events, including in relation to Gefen International’s businesses, plans and strategies. Forward-looking statements can generally be identified by the use of words such as, “expect”, “anticipate”, “likely”, “intend”, “should”, “could”, “may”, “plan”, “propose”, “will”, “believe”, “forecast”, “estimate”, “target” and similar expressions. Indications of, and guidance or outlook regarding, future performance are also forward-looking statements.

Forward-looking statements involve inherent risks, assumptions and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward-looking statements will not be achieved. A number of important factors could cause Gefen International’s actual results to differ materially from the plans, objectives, expectations, estimates, targets and intentions expressed in such forward-looking statements, and many of these factors are beyond Gefen International’ control.

Forward looking statements are based on Gefen International’ good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Gefen International’ business and operations in the future. Gefen International does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, many of which are beyond Gefen International’s reasonable control.

Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. To the extent required by the ASX Listing Rules and other applicable regulations as required by applicable laws, Gefen International does not undertake any obligation to publicly update or revise any forward-looking statements, to advise of any change in assumptions on which any such statement is based, or to publish prospective information in the future.

For further information, please contact:

Investor & Media Enquiries

Gefen International AI LTD

30 Kalisher Tel Aviv 6525724 Israel

Contact: Orni Daniels, Co-CEO

investor@gefentechnologies.com

 +972-507421831

SOURCE: Gefen International

###