Issue of Equity, Total Voting Rights & Correction

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

Issue of Equity,

Total Voting Rights

and

Correction of Exercise Price

The Directors of SRT announce that they have issued and allotted 150,000 new ordinary shares of 0.1p each in the Company ("Ordinary Shares") following the conversion of employee share options in the Company at an exercise price of 18p per Ordinary Share.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM which is expected to occur on 21 November 2022 ("Admission").

Total Voting Rights

Following Admission there will be 180,886,939 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. This is also the total voting rights figure which may be used by shareholders as the denominator for the calculations by which they can determine whether they are required to notify their interests in, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Correction of Exercise Price

The following amendment has been made to the 'Issue of Equity and Total Voting Rights' announcement released on 14 November 2022 at 16:00 p.m. under RNS No 3509G:

The relevant exercise price has been corrected to 23p.

All other details remain unchanged.

The full amended text, excluding the Total Voting Rights information (as a result of this information now being out of date, following today's exercise), is shown below.

The Directors of SRT announce that they have issued and allotted 60,000 new ordinary shares of 0.1p each in the Company ("Ordinary Shares") following the conversion of employee share options in the Company at an exercise price of 23p per Ordinary Share.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM which is expected to occur on 18 November 2022 ("Admission").

About SRT Marine Systems plc:

SRT develops, manufactures and supplies maritime tracking technology and turn-key system solutions to marine stakeholders across the globe with a particular expertise in AIS. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards and national security agencies to enhance their maritime domain awareness. Applications include the tracking of commercial and leisure vessels; sustainable fishery; anti-collision; search and rescue; waterway management, port and coast security; pollution management; and environmental management.