Codan : wins significant contract

9 September 2020

COMPANY ANNOUNCEMENTS PLATFORM

AUSTRALIAN SECURITIES EXCHANGE

Codan wins significant contract to supply tactical communications

equipment in Africa

Codan Communications, a division of Codan Limited, designs and manufactures mission- critical communications equipment for global military and public safety applications. Its solutions allow customers to save lives, enhance security and support peacekeeping activities worldwide.

The Codan Communications division has won a contract with a large African government to supply tactical communications equipment. The contract has a value in the order of USD $10 million for the supply of Sentry-HTM radios and accessories, and we expect this order to be delivered in the second half of FY21. The customer intends to deploy Sentry-HTM radios for national security purposes in military operations in a country-wide program. The contract is a one-off purchase, and there are no material conditions that are required to be satisfied prior to delivery.

The customer has an investment-grade credit rating with a stable outlook, and our longstanding policy of mitigating credit risk either through a letter of credit or appropriate credit insurance will be followed.

This is a significant contract for Codan, as it reinforces our strength in providing such equipment to the African market and enhances our strategy to successfully penetrate the security and military sector globally.

On behalf of the Board

Michael Barton

Company Secretary

This announcement was authorised by the Board of Directors.

Codan is a technology company that develops robust technology solutions to solve customers' communications, safety, security and productivity problems in some of the harshest environments around the world.

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