Mayair secures US$22.8 million of contract wins

MayAir Group plc

("MayAir" or the "Group")

Mayair secures US$22.8 million of contract wins

MayAir Group plc (AIM:MAYA), a leading specialist provider of air purification technology, is pleased to announce that the Group has secured new contract wins in its industrial and commercial divisions with an anticipated combined value of US$22.8 million.

During May 2016, the Group's Industrial division was awarded contracts for the supply and commissioning of MayAir's fan filtration units ("FFUs") and for the provision of filters in two cleanroom projects. The first contract, expected to generate approximately US$11.9 million of revenue, is with Tianma Micro-electronics Co., Ltd. ("Tianma"), a company which manufactures and distributes high quality technology display products used in wide ranging applications including smart phones, tablet PC's, smart wear, automotive instrumentations, industrial & medical instrumentation, avionic displays and home automation. Mayair will provide Tianma with FFUs, filters and related clean room equipment for its factory located in Wuhan.

Mayair has also won a contract to supply Chongqing HKC Optoelectronics Technology Co., Limited with FFU's, filters and related clean room equipment for its factories in Chongqing to manufacture display solutions. This contract is expected to generate revenue of approximately US$7.9 million.

The Directors expect that both of these projects will complete during 2016 and they therefore anticipate that the majority of revenue due to the Group under these contracts will be recognised in 2016.

In May 2016, the Group's Commercial division secured a contract expected to generate revenue of US$3.0 million with the State Grid Jiangsu Electric Power Company ("State Grid"). The contract, expected to be fulfilled in 2016, is to retrofit some of State Grid's existing office buildings with MayAir's indoor clean air solutions and PM2.5 monitoring systems. The Directors expect that the majority of revenue from the State Grid contract will also be recognised in the current financial year.

Yap Wee Keong, Chief Executive Officer of MayAir Group, said: "We are delighted to announce these contract wins as we continue in our drive to combat air pollution through innovation and technological advancement. These new contract wins convey the increasing need for clean air solutions within industrial and commercial buildings in China and are testament to the strength of MayAir's air purification solutions, which contribute to clean and healthy environments with effectiveness and efficiency.

We continue to make excellent progress toward delivering MayAir's overall strategy to become a leading global provider of clean air solutions, and these contract wins underpin the Group's significant progress to date."

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Notes to Editors

Founded in 2001, MayAir Group is a leading specialist provider of air purification technology for use in industrial cleanrooms, suppling large multinational manufacturers including Sony, Continental and Bosch. The Group's core business is in providing Fan Filter Units ("FFUs") air filtering equipment for use in industrial cleanrooms, an area in which MayAir has established itself as one of the leading providers in China.

In recent years, the Group has diversified its product offering to include indoor clean air solutions for the commercial and residential markets. Key flagship commercial projects so far include Shanghai airport terminals, Shanghai International Convention Centre, SOHO Galaxy office development in Beijing and Chengdu's Subway. MayAir is well positioned to take advantage of the growing demand for air purification technology and in the year to 31 December 2015, the Group reported record figures with revenue rising by 45% to US$63.6 million and underlying operating profit rising by 19% to US$7.7 million. MayAir Group listed on AIM in May 2015 with the ticker MAYA.L.

For additional information please visit: www.mayairgroup.com