XTEK Achieves Major Delivery Milestone for Defence Small Unmanned Aerial Systems (SUAS) Order – 8 May 2023

 Key highlights:

• Major delivery milestone achieved against A$26.9m Defence SUAS order announced on 1 Dec 22
• Revenue of $7.4m now recognised

Monday, 8 May 2023. XTEK Limited (ASX: XTE, ‘XTEK’, ‘Group’) is pleased to update the ASX, that its 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 $7.4m 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 due to be achieved before the end of FY23, this is an exciting time for XTEK’s Technology Division XTEK as it continues to further develop its SUAS sustainment capability”.

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