New Contract with Major Australian Railway

17 November 2025

Cordel Group PLC

("Cordel" or the "Company" or the "Group")

New Contract with Major Australian Railway

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, is pleased to announce a new contract with V/Line, the statutory authority that operates regional passenger rail and coach services in the Australian state of Victoria.

V/Line provides passenger train services on five commuter routes and eight long-distance services from its major hub at Southern Cross railway station in Melbourne. In addition, V/Line is responsible for the maintenance of the freight and passenger rail network in the state of Victoria outside of the areas managed by Metro Trains Melbourne and the Australian Rail Track Corporation.

The initial contract is for an eight week data capture program on the V/Line Northern Corridor and Western Corridor, totalling 820kms of mainline track and passing loops.

Rail corridor data will be captured using Cordel's Rugged LiDAR hardware including high-resolution video aligned to the customer's network model with precise locational information. LiDAR data and Synchronised video footage will be processed by Cordel's Multimodal AI, with the following outputs:

• Ballast profile reporting

• Structure clearance assessment (signals, platforms and overhead wire equipment)

• Vegetation encroachment assessment

• Level crossing sight distance assessment

Processed data will be made available across the customer's stakeholders via the Cordel Connect web platform.

John Davis, CEO of Cordel, commented:

"We are proud to have secured this new major customer in Australia, alongside ARTC and Aurizon. This win underscores our technology leadership and proven ability to capture, analyse and deliver vital insights with speed and precision."

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About Cordel

Cordel produces specialist hardware and software for capturing, analysing and reporting on large datasets within the transport sector, employing sophisticated artificial intelligence algorithms.

Further information on the Company is available at: www.cordel.ai