Contract wins

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.

FOR IMMEDIATE RELEASE                                                                        8 October 2025

PENNANT INTERNATIONAL GROUP PLC

("Pennant", the "Company" and together with its subsidiaries the "Group")

Contract wins

Pennant International Group plc (AIM:PEN), the systems support software and training solutions company, is pleased to announce two new contract wins within its Training Systems segment.

In its Interim Results announcement of 16 September 2025, the Group confirmed that it was in the advanced stages of negotiations in relation to potential new contracts worth in excess of £10 million. The Group is pleased to confirm that two of these opportunities have now been converted.

An order has been secured for £3.6 million from BAE Systems Australia as an uplift to the Group's long-term agreement with BAE in region. Pennant will supply a set of five new training systems, comprising a variant of the Group's existing Integrated Avionics Maintenance Trainer (IAMT) device, which will enhance maintenance training and enable the retirement of older training aids currently supported under the contract.

The expected duration of the programme is two and a half years, and the order provides a milestone payment plan (with stage-based cash payments) such that the performance of the contract is not anticipated to require additional working capital. Revenue is expected to be recognised over the 2.5-year period in line with performance of the contract.

Additionally, the Group has been awarded a contract by a new customer - a European aircraft equipment OEM - for the first phase of an interactive 3D graphical training package. The initial phase of the contract is worth approximately £0.15 million and is expected to grow to up to £0.8 million if and when additional phases are selected. The initial phase is expected to be completed within six months.

Negotiations relating to the other opportunities previously announced (including the GenFly upgrade) are continuing, and the Group will provide further updates in due course.

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Notes to editors:

Pennant International Group plc (AIM: PEN) is a technology driven, leading global provider of system support software and services, technical services, and training solutions. It supports its global customer base in the design, development, operation, maintenance, and training of complex assets, to maximise operational and maintenance efficiency.

Its key markets include Aerospace, Defence and Rail, and adjacent safety-critical markets such as Shipping, Nuclear and Space.

 The Group addresses the market through three key business segments:

•             Auxilium software: a key generator of recurring revenues through the provision of a suite of software tools designed to help clients: manage and use complex data; ensure equipment availability at optimal cost; and comply with industry standards.  Its Integrated Product Support (IPS) and Integrated Logistics Support (ILS) software and services equips customers with powerful market-leading toolsets to manage, model and utilise complex equipment data.

•           Technical Services: drives repeatable revenues through expert support for users of Pennant and third-party solutions including consultancy, support and maintenance, training and bespoke development.

•             Training Systems: project-based revenues relating to the design and build of hardware, software and virtual training solutions for maintainers and operators of aircraft, ships and land systems.

Pennant is strategically focused on sustainable recurring and repeatable revenues and profitability growth, shifting its model towards high margin software and services. Against a climate of rising defence budgets and the burgeoning technological complexity of military, aviation and rail platforms, the demand for these solutions is expected to grow substantially.

Headquartered in Cheltenham, UK, the Group operates worldwide, with offices in the UK, North America and Asia-Pacific, serving markets with high barriers to entry often in regulated industries.