Nordic Unmanned ASA

Legal Proceedings Report • Oct 25, 2024

NU Group - Lifting of "stop work order" and restart of ongoing project

NU Group - Lifting of "stop work order" and restart of ongoing project

25.10.2024 08:00:01 CEST | Nordic Unmanned | Additional regulated information

required to be disclosed under the laws of a member state

NU refers to information provided earlier this year, latest in the Q2 2024

report where the following was disclosed: "Stop of workorder for ongoing project

effecting revenue for AirRobot. Discussions are in process with the client about

the next steps". NU is pleased to confirm that the stop work order is now lifted

and it is foreseen that the project deliveries will restart later this year and

be income and cash generating from early 2025.

An on-going project relates to NU delivering our advanced payload sensor for

drones produced by our 100% owned subsidiary, AirRobot, in Germany, to a major

European corporate client.

"We are pleased with having reached agreement with our client to restart the

project and deliveries. We faced several challenges during our financial

restructuring in the spring and summer, including project delays, supply chain

disruptions, and the stop work order. It is of paramount importance that we

resume our deliveries to this major client. Most importantly, it demonstrates

our commitment to collaboratively addressing and overcoming these challenges

with the client. Additionally, it highlights our value as a provider of advanced

technology solutions for the defence and security sectors. Notwithstanding this

means adding income generating activity and cashflow to NU", says Stig H.

Christiansen, CEO of Nordic Unmanned.

NU Group is a leading European provider of advanced, drones, sensors, AI-powered

drone solutions, and UAS-agnostic drone-as-a-service operations. The company

serves government agencies, Ministries of Defence, security clients, and

corporate clients, offering cutting-edge technology solutions for a wide range

of applications, including:

* Empowering defenders and protect lives?

* Autonomous efficiency and optimized operations?

* Safe and environmentally friendly collection of live, actionable data

insights?

Founded in Norway in 2014, NU Group has offices in Sandnes (NO), Cranfield (UK),

Hasselt (BE) and Arnsberg (GER). Nordic Unmanned ASA employs approx. 100 FTEs

and is listed on Euronext Growth with the ticker NUMND. The Group's operating

history is 20 years based on AirRobot in Germany.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Stig H. Christiansen, CEO, Nordic Unmanned ASA, +47 478 07 813,

shc@nordicunmanned.com

* Tarjei Lode, CFO, Nordic Unmanned ASA, +47 46937008, tl@nordicunmanned.com

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847587/18268787/5159/Download%20announce

ment%20as%20PDF.pdf