New $20.5m Systems Contract

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

New $20.5m Systems Contract

SRT Marine Systems plc ('SRT'), a global provider of intelligent maritime surveillance systems for sovereigns and maritime navigation safety systems is pleased to announce that it has signed a new contract worth $20.5m with an existing sovereign customer.

The new contract is a follow-on contract to expand the scope of the system.

Simon Tucker, SRT CEO said: "Under the banner of our sovereign partnership program we expect our customers' requirements to evolve and grow over time. SRT's role in the partnership is to be a steadfast and reliable surveillance system expert partner to our customer and meet that need promptly and efficiently. This is a great example of an ambitious customer who wishes to rapidly grow their MDA capabilities, resulting in follow-on business for SRT."

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About SRT Marine Systems plc:

SRT Marine Systems PLC is a global provider of civil defence maritime intelligence and surveillance systems and navigation safety and efficiency solutions. Our systems provide MDA intelligence that enable sovereign agencies such as Coast Guards and Fishery Authorities to adopt a new nationwide intelligence lead operations doctrine which is highly effective and efficient for maritime safety and security. Our navigation safety systems enable vessel operators to navigate digitally more safely and efficiently. Our customers range from government agencies such as Coast Guards, Fishery Authorities and Ports & Waterway authorities to commercial and leisure vessel owners.