GFAIW Guardforce AI Company Ltd

Guardforce AI Co., Limited ("Guardforce AI" or the "Company") (NASDAQ:GFAI)(NASDAQ:GFAIW), an integrated security solutions provider, announced today that Handshake Networking Limited (“Handshake”), a subsidiary of the Company, has developed an automated marine scanning service designed to address key security vulnerabilities in the maritime transportation industry. The Company also announced it has launched this new service with one of the world’s leading operators of global container vessels based in Hong Kong.

Handshake Networking is a premier information security service provider, with a track record of providing network security solutions, including penetration testing, to multinational corporations since 2004.   Assessing vulnerabilities and cyber-attacks on vessels at sea is complex, as these vessels move unpredictably between network providers. However, the new service, provided by the Company under a Software-as-a-Service (SaaS) model, addresses these vulnerabilities by allowing marine vessel operators to schedule security scans, adapting to unpredictable changes in the network and speeding up response time to a ship, even in the middle of the ocean. Once a scan is completed, the vessel operator receives a report showing any exposed services and vulnerabilities. This scanning platform provides global coverage and is hosted within the Company’s cloud environment.

Based on recent shipping fleet statistics from UK Department for Transport, at the end of 2021, there were an estimated 63,000 trading vessels in service around the world. Each of these ships contains complex computer systems for managing the engines, fuel and navigation, as well as e-mail, software updates, and access to cloud applications. Connection to global networks via satellite and cellular data is critical; however, this multiple network connectivity makes ships vulnerable to cyber-attack.

Terence Yap, Chairman of Guardforce AI, stated, "We are pleased to announce the launch of our automated marine scanning platform with one of the premier operators of global container vessels. Prior to our selection, our new automated marine scanning service was heavily evaluated by this customer, providing strong validation of the robustness of this cyber intelligence offering and application within the maritime transportation industry. With rapid digitalization of the industry, more and more global shipping companies have come to realize the economic impact of cybercrimes and the need for efficient solutions to help prevent these risks. Cybersecurity solutions are more urgent than ever as International Maritime Organization regulation requires that all vessels and ships worldwide include cyber risk management in their safety management systems in accordance with the International Safety Management (ISM) code. Cybersecurity attacks represent an unprecedented threat to the shipping industry, as well as to the global community, and we anticipate that the demand for our solutions will continue to grow.”

Richard Stagg, Managing Director of Handshake, stated, “International logistics is a prime target for cyber-attack and threats directed at vessels can affect crew, cargo and even ports – as well as the smooth functioning of the ships’ operations. Through our SasS offering, we can provide our customers with a truly cost-effective solution that encourages frequent security checks. With more than 17 years of experience as a provider of information security services, Handshake is well positioned to efficiently assess information security even on container vessels, despite the technical constraints. We look forward to accelerating the commercial rollout of our marine scanning service, which we believe will play an invaluable role in defending corporations and critical infrastructure worldwide.”

About Guardforce AI Co. Ltd.

Guardforce AI Co. Ltd. (NASDAQ:GFAI)(NASDAQ:GFAIW) is a global integrated security solutions provider that is focused on developing robotic solutions and information security services that complement its well-established secured logistics business. With more than 40 years of professional experience, Guardforce AI is a trusted brand name that protects and transports high-value assets belonging to public and private sector organizations. Guardforce AI develops and provides innovative technologies and services that enhance safety and protection. For more information, visit www.guardforceai.com.

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Investor Relations: David Waldman or Natalya RudmanCrescendo Communications, LLCEmail: gfai@crescendo-ir.com Tel: 212-671-1020

Guardforce AI Corporate CommunicationsHu YuEmail: yu.hu@guardforceai.com