Ann: $2.3m Middle Eastern MOD Payment Received, page-3

$2.3m Middle Eastern MOD Payment Received

DroneShield Ltd (ASXRO) (“DroneShield" or the “Company”) is pleased to announce it has received $2.3
million of the remaining due payment on a previously completed order (refer to ASX announcement 30 March
2020) to a Middle Eastern Ministry of Defence.
The payment will be included in the total customer receipts in the Appendix 4C cash flow report for this 2Q21
quarter.
Oleg Vornik, DroneShield’s CEO, commented, “In addition to the material value of this cash receipt, it
demonstrates several critical points.
Firstly, it shows that DroneShield is able to successfully navigate doing business in one of the most
challenging yet most lucrative regions globally for Western companies, in terms of successful management
of stakeholders and achieving outcomes.
Secondly, this is the completion of a repeat purchase by this end user, with the next contract expected to be
a much larger amount, approximately $60–70 million, which is currently being discussed, and will be
announced to the market once the contract has been mutually executed.
Thirdly, this underscores the global leadership positioning of DroneShield products, and our best-in-breed
performance, as confirmed by this customer who faces daily UAS threats on their home soil, like no other
customer globally.”
This announcement follows on multiple recent contract wins globally announced in recent weeks, including
$1.1 million Five Eyes agency repeat order announced on 7 April, US Law Enforcement Order contract
announced on 6 April, and multiple DroneSentry-XTM orders announced on 24 March 2021.