Petards Regulatory News (PEG)

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

5 August 2025

PETARDS GROUP PLC

 ("Petards" or the "Group")

Multi-year framework agreement renewal

Petards, the AIM quoted developer of advanced security, communication, and surveillance systems, announces that its subsidiary, Affini Technology (Affini), has agreed the multi-year renewal of an existing customer framework agreement.

The agreement covers the supply of critical communications equipment and related installation and engineering support services. Its term will now run until 31 December 2029 and the customer has the option to extend this by up to two years, which if fully exercised, would increase its term to six years.

As it is a framework agreement, there is no contractually committed value, but Affini anticipates that the related future revenues arising will be in excess of £1 million per annum over the initial four-year contract term.

Raschid Abdullah, Chairman of Petards Group plc said:

"We are delighted that this customer has chosen to renew its framework agreement with Affini, giving it the opportunity to continue to work with them to deliver their critical communications infrastructure.

"While the Group's order book value will only reflect the benefit of this framework agreement as contractual purchase orders are placed over its four-year term, this renewal provides a strong under pinning of Affini's future trading over the coming years."

Contacts:

Notes to editors:

Affini Technology (Affini) was acquired by Petards in June 2024 and is a UK based wireless critical communications solutions provider to the transport, blue light, energy, defence, and construction sectors. Affini's expertise covers the entire life cycle, enabling it to offer an end-to-end service from strategy and design to maintenance and service management.

Affini delivers voice, video and data communication solutions alongside telematics, telemetry and asset/people tracking services and generates significant recurring revenues. It supplies services to a number of blue chip clients, with many customer relationships spanning 10 years or more.

The Affini business originates from 1974 when the radio division of the organisation that formed British Airways was carved out as a separate business. Historically, Affini's core capability was the design, deployment, and ongoing maintenance of critical communications networks within the aviation sector. The foundation of these solutions focused on radio technologies, for both landside and airside Private Mobile Radio (PMR) networks as well as ground to air communications within airports.

https://affini.co.uk/