Gorilla provides clarification to registration statement on Form F-1

Gorilla Technology Group made an announcement regarding its resale registration statement on Form F-1, which went effective on March 30, 2023. Gorilla wishes to clarify that the purpose of filing the Registration Statement was not for a new issuance of ordinary shares by the Company and will not result in dilution to its ordinary shareholders. As of the date of filing of the Registration Statement, the Company had 68,629,774 ordinary shares outstanding. Notwithstanding the cover page of the prospectus in the Registration Statement and the securities registered therein, no additional ordinary shares were outstanding following its effectiveness and there are no securities currently outstanding which may cause the number of ordinary shares outstanding to increase other than employee stock options and warrants. While the Registration Statement states that it is partly for a "primary offering" of ordinary shares, this is only to register ordinary shares underlying the Company’s previously issued contingent value rights and will not increase the number of outstanding ordinary shares of Gorilla. If ordinary shares are required to be issued to the holders of CVRs, such issuance will be fully offset by the forfeiture and cancellation of Earnout Shares. The Earnout Shares are currently held in escrow by the Company’s transfer agent but are treated as outstanding in all the Company’s filings. The number of ordinary shares registered in the Registration Statement pursuant to the "secondary offering" included these Earnout Shares and are reflected in the holdings of the selling security holders.