THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED WITHIN IT (THIS "ANNOUNCEMENT") IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA, COLLECTIVELY THE "UNITED STATES") OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY LAW ("RESTRICTED JURISDICTION").

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER IN ANY RESTRICTED JURISDICTION.

Capitalised terms not otherwise defined herein shall have the meanings given to them in the announcement made by SRT Marine Systems plc in respect of the launch of the PrimaryBid Offer on 23 June 2023 at or around 07:01 a.m. (the "PrimaryBid Launch Announcement"), unless the context requires otherwise.

For immediate release

26 June 2023

SRT Marine Systems plc

Results of PrimaryBid Offer,

Director/PDMR Shareholding

and

Total Voting Rights

SRT Marine Systems plc (AIM: SRT), a global provider of integrated maritime surveillance systems and digital navigation safety transceivers ("SRT" or the "Company"), is pleased to announce the successful completion of the PrimaryBid Offer that was announced on 23 June 2023, which was heavily oversubscribed.

Following the successful completion of the non-pre-emptive Placing of 9,220,000 New Ordinary Shares which was announced on 23 June 2023, retail investors have subscribed via the PrimaryBid platform for a total of 1,500,000 New Ordinary Shares at an issue price of 50 pence per share, raising gross proceeds of £750,000.

Directors' participation

Simon Tucker, a Director, has subscribed for 100,000 New Ordinary Shares by way of the PrimaryBid Offer at the Issue Price raising gross proceeds of £50,000.

On completion of the Fundraising, Simon Tucker will have the following shareholding:

Consequently, in aggregate, 10,720,000 New Ordinary Shares will be issued pursuant to the Placing and the PrimaryBid Offer, representing approximately 5.91 per cent. of the Company's existing issued share capital, and raising gross proceeds of £5.36 million.

The New Ordinary Shares will, when issued, be credited as fully paid and rank pari passu with the existing Ordinary Shares.

Application will be made to London Stock Exchange plc for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on 30 June 2023.

Total Voting Rights

On Admission, the total number of Ordinary Shares in issue will be 192,244,939 and the total number of voting rights will therefore be 192,244,939. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them