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

25 Oct 2024 08:00 CEST

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

More information:
Access the news on Oslo Bors NewsWeb site

630387_Download announcement as PDF.pdf