XTEK Receives Defence Orders for SUAS Systems, Spares & Software

Key highlights:

• Items to be delivered through FY2022 & FY2023
• Revenue recognition starting from Q3 FY2022

Scott Basham, XTEK’s Group CEO, said:

“This new order from Defence totalling A$2.75m for new Wasp
systems, in combination with A$2.19m of other SUAS orders recently received for spare parts and related
specialist software licences – including XTEK’s own Australian-made XTatlas software – are provided as part
of the ongoing Support Contract we have with Defence for the Land 129 Phase 4A project.

The systems and spare parts from this order will be held in our state-of-the-art SUAS repair facility in Canberra,
and the specialist software, including our XTatlas software, will be deployed to key locations around the country,
and be used to keep this important UAV capability operational for Defence.”