Update on acquisition strategy

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AND ANY MEMBER STATE OF THE EEA (OTHER THAN THE UK) OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BREACH APPLICABLE LAW. THIS ANNOUNCEMENT HAS NOT BEEN APPROVED BY THE LONDON STOCK EXCHANGE, NOR IS IT INTENDED THAT IT WILL BE SO APPROVED.

28 March 2018

Gloo Networks plc

Update on acquisition strategy

The board of directors of Gloo Networks plc ("Gloo" or the "Company") announces it is continuing to review acquisition opportunities, following recent discussions with a potential target. However, Gloo is no longer considering a reverse takeover or the issue of additional shares on AIM in respect of this opportunity.

After the payment of transaction expenses, Gloo's cash balance is expected to be in the range of £12 million to £14 million, or 47 pence to 55 pence per share, at 31 March 2018.

Enquiries:

Gloo Networks plc

Rebecca Miskin, Chief Executive Officer (through Teneo Blue Rubicon)

Liberum Capital Limited (Nominated Adviser and Joint Broker)

Tel: +44 20 3100 2000

Neil Elliot

Chris Clarke

Jonathan Wilkes-Green

Numis Securities Limited (Joint Broker)

Tel: +44 20 7260 1000

Nick Westlake

Michael Wharton

Jamie Loughborough

Teneo Blue Rubicon (Financial communications adviser)

Tel: +44 20 7240 2486

Paul Durman +44 7793 522 824

Anushka Mathew +44 7824 440 915

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

Rebecca Miskin is Chief Executive Officer of Gloo Networks plc, which has its offices at 20 Buckingham Street, London WC2N 6EF and has the LEI 21380078XGCMNMEIU311.