PHD.L Regulatory News (PHD)

Proactis Holdings PLC

Strategic Contract Win

Proactis Holdings PLC, ("Proactis", the "Group" or the "Company"), the business spend management solution provider, is pleased to announce that it has signed a 3-year contract with an oil and gas services business in North America. This contract win represents a strategically important milestone for the Company, being the first new customer in North America to sign up under the Group's new go-to market strategy.

The customer, which provides coil tubing needs to oil drilling companies across six locations in North America, has selected Proactis to deliver its sourcing and supplier management requirements.

As announced previously, the Group adopted a new go-to market strategy for each of its US, France and Germany territories designed to replicate that of the UK and the Netherlands. This contract builds upon the contracts signed in France and Germany.

Tim Sykes, Chief Executive Officer at Proactis, commented:

"We are delighted to have been selected following our successes in France and in Germany. We have now demonstrated that our go to market strategy, our positioning and our solutions are relevant for our target market segment in each of the territories that we operate in. Whilst conscious that the pandemic continues to impact the pace of our progression, we grow more confident in our assessment that the market opportunity for Proactis in each of the US, France and Germany is as great as it is in the UK and the Netherlands."

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Notes to Editors:

Proactis creates, sells and maintains software and services which enable organisations to streamline, control and monitor all indirect expenditure. Its solutions are used in approximately 1,100 buying organisations around the world from the commercial, public and not-for-profit sectors.