23 July 2026

Metir plc

("Metir", the "Group" or the "Company")

Metir Secures Qatar Project Confirmation Update

Metir plc (AIM: MET), the global provider of fast-response, mobile, and point-of-use water and environmental monitoring technologies, is pleased to provide an update on the Group's Continuous Toxicity Monitoring ("CTM") project in Qatar, deployed by its Modern Water division.

Further to a project update meeting on 20 July 2026 involving all stakeholders, including Qatar General Electricity & Water Corporation ("Kahramaa"),  Avanceon Automation & Control WLL ("Avanceon") and Modern Water, a Project Confirmation Letter ("Letter") has been received from Avanceon regarding the Group's continued performance and the project's future expansion. Modern Water is the sole supplier of its unique CTM technology.

The Letter outlines Kahramaa's and Avanceon's long-term commitment to the project and intention to progress its CTM programme with Modern Water. Following completion of the Phase 1 handover, the Group expects the contract to transition to recurring, high-margin consumables revenues while retaining the opportunity to expand the deployment through a potential second phase. The Board believes the project provides an important commercial reference installation for future CTM opportunities across the Middle East.

The Letter includes:

·      Confirmation by Kahramaa that the project duration is intended to continue for at least 10 years;

·      a reset of the Phase 1 final project delivery milestone to October 2026, which will enable release of the outstanding milestone payment of approximately £161,000 and an additional performance payment of ca. £44,000 can be invoiced;

·      transition of the project into its maintenance phase following final handover in October 2026;

·      on final handover commencement of recurring monthly consumables supply revenues for all 27 installed CTM units;

·      an intention to enter a Phase 2 tender process for an additional 17 CTM systems (total 44 CTM systems installed) subject to standard procurement and tender procedures for a minimum 10-year operational period;

·      support for the establishment of a local laboratory facility in Doha, Qatar to support Microtox® reagent production, reducing shipping and transportation issues.

Due to the ongoing hostilities in the region, there have been, and continue to be, constraints on the shipment of bio-reagents to Qatar and the ability of Modern Water personnel to visit Doha to support the handover process. This has delayed reaching the final project handover milestone defined by the agreed operational testing requirements. There remains a need to resolve some installation issues as previously announced on 25 March 2026. Modern Water has been working with Kahramaa, in partnership with Avanceon, the Group's regional service provision partner, to address the technical issues identified during systems integration of the 27-unit CTM deployment.

The Group is pleased to report that the review and optimisation process has confirmed that there are no material instrument problems with the 27 CTM-deployed systems. The issues to resolve relate mainly to local storage, handling and performance of the Microtox® reagent under high local ambient temperatures. A specialist biochemist will be deployed by Modern Water to Doha to support Avanceon in undertaking on-site optimisation and validation of storage and handling processes and to oversee the final project handover milestone. Some reagents were falling short of their prescribed monthly working cycle due to suboptimal transportation and handling, which has resulted in some CTM operational interruptions. In collaboration with Avanceon, an updated storage, handling and device maintenance programme, adapted to local conditions, has now been implemented to optimise Microtox® reagent use and performance.

Consequently, Kahramma currently expects the full Phase 1 project handover in  October 2026, at which point the contract will formally enter the maintenance phase. During the maintenance phase, Metir will invoice for the supply of Microtox® reagent and other related consumables for each installed CTM unit. The reagent replacement cycle is 30 days. Based on the current installed base of 27 systems, the Board therefore expects recurring high-margin consumables revenues in the region of £30,000 per month. Assuming Phase 2 is implemented, the reagent revenues from 44 CTM machines are likely to exceed £50,000 per month.

Microtox® CTM is a unique product that enables fully automated, real-time toxicity monitoring, providing alerts within minutes of sampling and testing. The monitoring provides a general screening (capable of detecting thousands of toxins), as a first line of defence against water contamination. The service facilitates continuous 24/7 early-warning detection of the contamination of water supplies for populations and industrial operations.

Bob Moore, Executive Chairman and Chief Executive Officer of Metir plc, commented:

"We are pleased to have resolved the project uncertainty during a difficult period of restricted activity in the region and to have received this project confirmation update. The Board believes this reflects the progress achieved on the Qatar project and growing confidence in Metir's Continuous Toxicity Monitoring technology with the potential to expand to cover additional water infrastructure in the Doha region.

The Board believes the Qatar deployment will be a significant reference installation for the Group's technologies and support wider adoption across the Middle East and elsewhere.

The project is expected to generate recurring revenue after project handover in Q4 2026 from the supply of consumables. The potential Phase 2 expansion and proposed establishment of local reagent production capability would also increase revenues from sales of CTM units and then the provision of reagents, leading on to long-term strategic and wider commercial opportunities for Metir."

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About Metir

Metir plc is a leading global provider of several fast-response, mobile and point-of-use water and environmental monitoring technologies. Through its two established trading divisions, Modern Water and Microsaic Systems, a specialist in mobile PFAS monitoring, the Company develops and supplies innovative, easy-to-use solutions that deliver rapid, accurate water and liquids quality results, helping industries, utilities and regulators monitor safety and compliance in real time.

With a strong focus on data-driven insight and field-ready design, Metir's technology supports critical decision-making across sectors, including environmental monitoring, public health and industrial process management.

Headquartered in York, UK, Metir serves worldwide customers and is dedicated to advancing water testing standards through innovative, accessible solutions.

For more information, please visit: https://www.metirplc.com