ISC Reports Strong Execution on Strategy in 2023

• Expects to deliver record revenue and adjusted EBITDA for 2023, consistent with annual guidance
• Successfully secured Saskatchewan Registries extension to 2053
• Multiple contract wins and new registries announced in 2023
• Achieved ISO 27001 Certification enterprise-wide

REGINA, Saskatchewan, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX:ISV) (“ISC” or the “Company”), today provided an update on the execution against its growth strategy in 2023, the recent achievements of which have solidified its position in the registry market.

"These achievements reflect our relentless pursuit of growth and excellence," said Shawn Peters, President and CEO. Peters continued, "Our focused execution in 2023 has ensured that we’ve established a platform to drive our future growth, leveraging the portfolio and capabilities we’ve built, delivering further value for shareholders."

Securing an extension with the Province of Saskatchewan to operate the Saskatchewan registries until 2053 marked a milestone for ISC, projecting an estimated $1.3 billion in cash flow through the extended period and an impressive 90 per cent increase in total assets. This achievement (the first to be successfully completed in the Canadian registry market since ISC secured the initial MSA in 2013), underscores the Company's commitment to registries and their opportunities for sustained growth and long-term stability. Meanwhile, ISC’s Services segment continued to be the driver of organic growth in a market that continues to see strong demand for its solutions.

The Company's expansion continued with the acquisition of the operational rights for two registries - the Bank of Canada Bank Act Security Registry and the International Registry of Interests in Rolling Stock. These acquisitions reflect ISC’s strategic move towards diversification in its expansion of service offerings, enhancing the Company's presence in key registry sectors.

Furthermore, ISC attained notable success on the national and international front, securing multiple contracts for its Technology Solutions segment. Contracts such as the Bank of Canada, the State of Michigan, States of Guernsey, and the Department of Registrar of Companies and Intellectual Property in Cyprus demonstrate the Company's global reach and reputation for delivering high-quality solutions.