Shearwater Regulatory News (SWG)

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (as amended), which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018. Upon publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

13 April 2022

Shearwater Group PLC

("Shearwater", or the "Group")

Contract Win

Brookcourt Solutions secures contract with value of up to c.£21m

Shearwater Group plc, the organisational resilience group that provides cybersecurity, professional advisory and managed security services, announces that its group company, Brookcourt Solutions, has secured a significant new contract win to the potential value of up to c.£21.0m with a leading telecommunications and media company. The initial, secured value of the contract, across an initial three year term, is £12.9m, with the contract including an option to extend by a further two years for a total additional value of c.£8.0m.

Under the terms of the contract, Brookcourt Solutions will provide forensic monitoring solutions, support, maintenance, training and managed services to the telecommunications and media company. This advanced solution provides the client with end-to-end service assurance across all technology domains and integration to support business critical applications and processes.

The Company also announces that a trading update for the year ended 31 March 2022 will be provided later this month.

Phil Higgins, CEO of Shearwater, commented:

"This win demonstrates our capabilities within the security and monitoring sector. Being able to work alongside our customer, as the chosen supplier on a project of this strategic importance is noteworthy."

David Williams, Chairman of Shearwater, commented:

"This contract won by Brookcourt Solutions demonstrates the potential we saw in their best-in-class strategic solutions and service offerings. Huge congratulations to all our team for this major success."

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About Shearwater Group plc

Shearwater Group plc is an award-winning group providing cyber security, managed security and professional advisory solutions to help 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.