Spain's largest grocery retailer with StrongPoint's new cash management solution

24 Apr 2024 07:30 CEST

24.4.2024 07:30:01 CEST | StrongPoint | Additional regulated information
required to be disclosed under the laws of a member state

(Oslo, April 24 2024), StrongPoint, a leading retail technology provider, today
introduces a new solution, 'CashGuard Connect', the world's first fully
automated end-to-end cash management solution eliminating the need for store
staff to handle cash.

'CashGuard Connect' was specifically designed to address the cash-handling
challenges faced by grocery retailers. The new solution is operational and being
tested in a store checkout of the grocery retailer Mercadona, which has more
than 1,660 supermarkets in Spain and Portugal.

Following the setup of an industrialized production, the ground-breaking
solution is set to be made available to grocery retailers by the end of 2025,
providing them the opportunity to drive substantial efficiency savings in their
cash management operations.

'CashGuard Connect' provides end-to-end cash automation at the point of sale,
eliminating the need for staff to handle cash. This allows staff to focus on
serving customers and scanning items at the checkout, streamlining the process.
The result is increased safety and efficiency for customers, store staff, and
the retailer.

"In Spain around half of all transactions in grocery retail is done with cash.
At StrongPoint we believe that technology can create win-wins for retailers and
their customers. 'CashGuard Connect' is a perfect example of this dual benefit:
a better, easier, and faster customer experience while making store operations
more cost-effective and secure. This new solution is a significant technological
advancement for grocery retailers," said Lorena Gómez, MD and SVP of StrongPoint
Spain.

"The potential for 'CashGuard Connect' is immense. This new solution offers
substantial efficiency savings to grocery retailers. Given its significant
savings and benefits for retailers, their customers, and employees, it is
conceivable that the total market potential of this solution could surpass a
quarter of a billion euro in Spain alone. We expect to have the industrialized
production ready for retailers by the end of 2025," said Jacob Tveraabak, CEO of
StrongPoint.

The front and back-end elements of the solution can be sold separately or
installed as a complete end-to-end solution depending on the unique needs of the
store and its infrastructure. The solution was developed by StrongPoint Cash
Tech S.L., a joint venture currently owned 60% by StrongPoint.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

CONTACTS

* Jacob Tveraabak, CEO StrongPoint ASA, +47 908 21 370,
jacob.tveraabak@strongpoint.com

ABOUT STRONGPOINT

StrongPoint is a grocery retail technology company that provides solutions to
make shops smarter, shopping experiences better and online grocery shopping more
efficient. With over 500 employees in Norway, Sweden, the Baltics, Finland,
Spain, the UK and Ireland and together with a wide partner network, StrongPoint
supports grocery and retail businesses in more than 20 countries. StrongPoint
provides in-store cash management and payment solutions, electronic shelf
labels, self-checkouts, task and labor management software, click & collect
temperature-controlled grocery lockers, in-store and drive-thru grocery pickup
solutions and grocery order picking solutions, both manual and automated.
StrongPoint is headquartered in Norway and is listed on the Oslo Stock Exchange
with a revenue of approx 1.4bn NOK [ticker: STRO].

ATTACHMENTS

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https://kommunikasjon.ntb.no/ir-files/17847450/3058/4371/Download%20announcement
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