XTEK Achieves Major Delivery Milestone for Defence Small Unmanned Aerial Systems (SUAS) Order – 15 June 2023

 Key highlights:

• Major delivery milestone achieved against A$26.9m Defence SUAS order announced on 1 Dec 22
• Mix of AeroVironment SUAS used by Army for tactical reconnaissance and surveillance tasks
• Equipment valued at circa $14m as part of this milestone
• Total contract revenue recognised to date of more than $21m

15 June 2023. XTEK Limited (ASX: XTE, ‘XTEK’, ‘Group’) is pleased to update the ASX, that it’s Technology Division has achieved a major project milestone in performance of the $26.9m Defence SUAS order announced to the ASX on 1 December 2022, with the shipment and revenue recognition of approximately $14m of contract deliverables.

Scott Basham, XTEK’s Group CEO, said:

“XTEK is very pleased to be able to continue to support Defence with the provision of world-leading SUAS technology.

With other key project milestones still due to be achieved before the end of FY23, this is an exciting time for XTEK’s Technology Division, as it continues to further develop it’s SUAS supply and sustainment capabilities”.

This announcement has been authorised for release by the XTEK Limited Board of Directors.

General, Investor & Media Enquiries:
Scott Basham, Group CEO,
T: +61 422 014 593
E: scott.basham@xtek.net