XTEKs Subsidiary HighCom Completes Delivery of A$9.5m Order

Jun 14, 2022 | Announcements 2022

Key highlights:

• A$9.5m Order for specialist ballistic armour received on 26 May 22
• Delivery of all specialist ballistic products for this order now completed
• Revenue of A$9.5m recognised
• Group expects total FY2022 revenues to exceed A$60m

Tuesday, 14 June 2022: XTEK Limited (ASX: XTE, ‘XTEK’, ‘Group’) is pleased to announce that the
Group’s HighCom Armor Solutions Inc. (HighCom) business has completed the delivery of specialist ballistic
products manufactured in our Columbus Ohio facility, that are included under the A$9.5m order from an
undisclosed regional customer, which was previously announced on 26 May 22.

The Group can further confirm that the entire A$9.5m contract value has also now been recognised as a result
of this shipment. The Group remains optimistic about its FY2022 results and expects that total revenues for
the full year will exceed A$60m. The Group also expects to carry forward at least A$45m of backlog orders for
delivery in FY2023 and beyond.

Scott Basham, XTEK Group CEO, said,

Our HighCom Armor team in Columbus OH, has been working at a frenetic pace to manufacture, package,
and now dispatch, this order that we announced on 26 May 22, for an undisclosed regional customer.

This shipment, which weighed more than 31,000kgs, and comprised many thousands of individual specialist
ballistic armour products, had to be dispatched on a dedicated cargo aircraft due to the urgent nature of the
end user’s operational requirements.

Significant coordination with certain US Government agencies and other international officials was also involved
to facilitate this rapid transaction and fast deployment. We thank everyone involved who contributed and
collaborated to see this great outcome achieved.

With two major shipments of our life saving personal protective armour products, weighing almost 100 tonnes,
having been completed and dispatched in the last week, our HighCom OH team’s focus now swings back to
completing the various other major orders currently being produced for completion before 30 June 22, to ensure
we hit our revenue targets by year end.”


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