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Press Release no. 05/2023

cBrain has established cBrain India, a joint venture subsidiary in Tamil Nadu, India

Copenhagen, September 11, 2023

In 2020, the Prime Minister of Denmark, H.E. Mette Frederiksen, and Prime Minister of India, H.E. Narendra Modi, signed an agreement between India and Denmark to elevate the Indo-Danish relations to a Green Strategic Partnership. This includes expanding and strengthening the cooperation on energy and climate change; Environment/Water and Circular Economy; Sustainable Urban Development including Smart Cities; and Business, Trade and Shipping.

At the same time, Denmark ranks number 1 in the latest United Nations E-Government Survey. But in despite of the fact that India has a very large local IT services industry, India ranks number 105 in the UN E-Government Survey.

cBrain (NASDAQ: CBRAIN) is a leading supplier to the Danish government, supplying F2 as the digital platform for most Danish ministries. With a fast growing international customer base, cBrain therefore sees an opportunity to offer digital government experiences to accelerate government digital transformation in India.

As part of cBrain’s international growth plan and under the guidance of the Green Strategic Partnership between India and Denmark, cBrain has been working to establish itself in India. This includes being part of the Danish business delegation to India, led by the Crown Prince of Denmark and the Crown Princess of Denmark, in March 2023, as well as in collaboration with the Embassy of India in Denmark, the Ministry of Foreign Affairs of Denmark, and the Embassy of Denmark in New Delhi.

As a next step cBrain has signed a partnership agreement with Kodumburar Solutions in India and established cBrain India, a joint venture based subsidiary located in Chennai, Tamil Nadu, India.

The partnership has been formed over a longer period, including meetings with government in Tamil Nadu as well as hosting meetings and government visits from Tamil Nadu in Denmark. Kodumburar Solutions has in-depth understanding of Indian government practices. Kodumburar Solutions and cBrain intend to offer the F2 digital platform and Danish government best practices, including F2 Climate Software, to accelerate fast government digital transformation as well as climate action initiatives in India.

With more than 75 million citizens, Tamil Nadu is the sixth largest state by population in Inda, and the government of Tamil Nadu has a strong focus on both government digitization and climate action. Tamil Nadu thereby offers a sweet spot for initiating the reuse of Danish government experiences and software in India.

Best regards

Per Tejs Knudsen, CEO

Inquiries regarding this Press Release may be directed to

Ejvind Jørgensen, CFO, cBrain A/S, ir@cbrain.com, +45 2594 4973

Attachment

• Press Release no 2023-05 (cBrain India JV)

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