Shearwater Regulatory News (SWG)

7 September 2021

RNS Reach

SHEARWATER GROUP PLC

("Shearwater" or the "Group")

Contract Renewal

Pentest secures million-dollar contract renewal with global technology corporation

Shearwater Group plc, the organisational resilience group that provides cybersecurity advisory and managed security services, announces that its group company, Pentest, has secured a one-year contract renewal worth $1 million, with a global technology corporation.

Under the terms of the renewal, Pentest will continue to deliver a range of vulnerability assessment and penetration testing services to the organisation. These services will continue to form a key function within the organisation's global cloud technology infrastructure.

Through these penetration testing services, Pentest performs an in-depth investigation into the organisation's resilience with the continued aim of uncovering any IT security vulnerabilities. This method is designed to simulate the actions of a threat actor, exposing and classifying vulnerabilities which could be used to exploit or damage an organisation if left unremedied.

Phil Higgins, Chief Executive Officer of Shearwater Group plc, commented:

"Securing this major contract renewal, with Pentest again being selected as the preferred supplier for a global technology client, highlights the quality and depth of work being provided by companies within our Group. Furthermore, the extension is testament to the Group's longstanding and close relationships with its customers. The Group is always delighted to be awarded repeat contracts, demonstrating the true value and trust our clients have in the IT security products and advisory services that we offer."

Enquiries:

This is an RNS Reach announcement and the information contained is not considered to have a significant impact on management's expectations of the Group's performance. RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

About Shearwater Group plc

Shearwater Group plc is an award-winning group providing cyber security, managed security and professional advisory solutions to create a safer online environment for organisations and their end users.

The Group's differentiated full service offering spans identity and access management and data security, cybersecurity solutions and managed security services, and security governance, risk and compliance. Its growth strategy is focused on building a scalable group that caters to the entire spectrum of cyber security and managed security needs, through a focused buy and build approach.

The Group is headquartered in the UK, serving customers across the globe across a broad spectrum of industries.

Shearwater shares are listed on the London Stock Exchange's AIM under the ticker "SWG". For more information, please visit www.shearwatergroup.com.