9^th July 2026

RC FORNAX PLC

("RC Fornax" or the "Company")

RC Fornax Secures Place on Thales Engineering Services Framework

RC Fornax (AIM:RCFX), UK-based consultancy delivering outcome-based engineering solutions to the defence sector's most critical platforms, is pleased to provide an update on client engagement.

Following a comprehensive and competitive bidding process, the Company has been selected by Thales UK Limited ("Thales") to join a highly selective Niche Supplier Framework to supply packages of engineering services work for Sonar and Naval Architecture.  The agreement covers a period of three years with an option for a further two-year extension.

Thales is a global leader in advanced technologies for the Defence, Aerospace, Cyber and Digital sectors, with more than 85,000 employees in 65 countries. Thales makes a significant investment in the UK supply chain, spending approximately £575 million annually with UK suppliers and committing £150 million each year to small and medium enterprises (SMEs). This commitment underscores Thales' dedication to driving growth and innovation across the local economy.

Thales has historically represented approximately 30% of the Company's revenue, however, activity was scaled back recently while RC Fornax focused on initiatives to enhance and elevate this relationship. Discussions have now advanced materially, with RC Fornax's inclusion on the niche supplier framework, providing a clear pathway to renewed and expanded engagement.

The Board considers this opportunity to be strategically significant, underlining RC Fornax's capability in highly specialised naval engineering and strengthening the Company's position as a long-term partner of choice to Tier-1 defence contractors.

Paul Reeves, Chief Executive Officer of RC Fornax, commented:

"We are extremely encouraged to be awarded a place on the Thales' Niche Supplier framework. This represents tangible progress in one of our most important client relationships and validates our strategy of moving from project-based engagements to structured, long-term partnerships. Success in such a competitive process, with such a significant client, re-enforces the strength of the RC Fornax offering. The potential scale of this opportunity, together with the renewed momentum we are experiencing in client engagement, gives the Board confidence in the outlook for the Company."

Dave Williams, Procurement Director for Under Water Systems, Thales UK, commented:

"Thales is committed to supporting the UK Sonar Industry and UK SMEs. We are looking forward to developing our relationship with RC Fornax".

Figure 1: Members of the RC Fornax and Thales teams outside of Thales' facility following a site visit

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies for the Defence, Aerospace, and Cyber & Digital sectors. Its portfolio of innovative products and services helps address several major challenges: sovereignty, security, sustainability and inclusion.

The Group allocates €4.5 billion per year in Research & Development in key areas, particularly for critical environments, such as Artificial Intelligence, Cybersecurity, Quantum and Cloud technologies. Thales has more than 85,000 employees in 65 countries. In 2025, the Group generated sales of €22.1 billion.

About Thales in the UK

Thales in the UK is a team of over 7,800 experts, including 4,500 highly skilled engineers, located across 15 sites.

Each year Thales invests over £575 million into its UK supply chain, working with over 2,000 companies. They are dedicated to research and technology, working with partners to invest over £130m+ in R&D in the UK annually.

Thales is committed to supporting its people, and continuously developing talent, and highly skilled experts.

Learn more here: United Kingdom | Thales Group

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Notes to Editors

RC Fornax PLC is an AIM-quoted company providing outcome-based engineering solutions to the UK defence industry. It was founded in 2021 by RAF veterans Paul Reeves and Daniel Clark who, having also worked for a number of years as defence contractors, are passionate about improving project efficiencies and driving value for money in the sector.

MAR

The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"), and the UK version of MAR which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.  Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.