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Ava Risk Group Limited (ASX: AVA) (“Ava Risk Group” or “the Company”) is pleased to advise that it has secured multiple contracts across key industry segments to deploy its latest generation Aura Ai-X intrusion detection technology.  Details relating to contracts are summarised below:

Airport Security:

The Company is pleased to advise that it has been awarded two contracts for perimeter detection at two major airports, San Diego in the United States and Dubai Airport in the United Arab Emirates. Both contracts are effective immediately and have no conditions precedent attached to them. The contracts provide for the deployment of multiple Aura Ai-X systems and associated  support services. Pleasingly, the Dubai contract is for an upgrade of legacy FFT products, further demonstrating the success of our inside sales upgrade program.  The combined value of the contracts is $0.9 million and the required equipment for these orders is expected to be delivered during H1 FY2025.

Airport security is emerging as a key sector for the deployment of the Company’s technology. These contracts demonstrate the capability of Ava Risk Group’s technology to provide sophisticated perimeter detection in complex environments.   The Company has further sales pipeline opportunities in the airport security sector and is confident of winning additional contracts.

Sovereign Border Protection:

Building on its previous successful system deployments at a critical eastern European border, the Company advises that is has been awarded a $1.9 million contract for the urgent deployment of its Aura Ai-X technology to provide protection for additional parts of the border. The contract is effective immediately and has no conditions precedent attached to it. The contract is for the provision of its detection systems and associated support services. This order is replacing competitor technology which has been installed at the border and is a clear demonstration of the superior performance of Aura Ai-X. It is expected that the equipment for this order will be delivered during H1 FY2025.

Commenting on the contract awards, Ava Group CEO Mal Maginnis said: “It is pleasing to see continued growing sales momentum across the business.  I am very pleased to see Aura Ai-X replacing some competitor technology on the eastern European border as it validates our belief that Aura Ai-X is the market leading fibre-optic detection technology. Winning two significant orders for airport security highlights the versatility of our technology and provides strong reference sites for further contracts in this growing segment.”

“The Company is in a strong position to achieve its revenue guidance for H1 FY2025 of $16.5 million – $17.5 million.”

Change in Key Management Personnel:

The Company advises that James Viscardi, Executive Vice President Global Security, has resigned to pursue other career opportunities in the United States, finishing his role on 30 November 2024. The Company does not intend to replace this position and all regional sales leads will report directly to Mal Maginnis, Ava Group CEO.

The Company thanks Jim for his service over the past three and a half years.

ENDS

For further information, please contact:
Alexandra Abeyratne
Sodali & Co
alexandra.abeyratne@sodali.com
+61 438 380 057

About Ava Risk Group

Ava Risk Group is a global leader in providing technologies and services to protect critical and high value assets and infrastructure. It operates three business segments – Detect, Access and Illuminate. The Detect segment manufactures and markets ‘smart’ fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks. Access is a specialist in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products. Illumination specialises in the development and manufacture of illuminators, ANPR cameras and perimeter detectors.  Ava Risk Group products and services are trusted by some of the most security conscious commercial, industrial, military and government clients in the world. www.avariskgroup.com

Download AGM Addresses and Presentation here.

Download AGM Result here.

Ava Risk Group Limited (ASX: AVA) (“Ava Risk Group” or “the Company”) is pleased to provide the following update
on its Q1 FY2025 trading performance:

• Sales order intake during Q1 of $8.9 million.
• Strong sales order backlog of $8.5 million (including $2.3 million in contracted ARR) to support revenue
  growth in FY2025 consisting of equipment orders and multi-year service contracts.
• Continued progress on key projects and industry sectors – UGL, Telstra and the Australian Oil and Gas
  sector.
• First half revenue guidance of $16.5 million to $17.5 million. Second half revenue is expected to be
  substantially stronger than the first half.

During Q1, Ava Risk Group reported strong sales order intake of $8.9 million, with stronger year on year growth in
both the Detect (+85%) and Illuminate (+9%) segments. Access, recorded its strongest quarter since the Q1 FY2024,
when the initial orders were received from dormakaba.

The Company commenced the commissioning of detection systems on the Sydney Metro project with UGL during
the first quarter, which is expected to be completed over the coming months. It is well positioned to expand the
product footprint on this project by offering Illuminate products to provide platform detection capability on the rail
corridor. This demonstrates the benefit of establishing relationships with key infrastructure partners such as UGL and
highlights the complementary nature of Ava’s products for large scale infrastructure projects.

Ava Risk Group also received multiple orders from the Australian oil & gas sector during Q1 and the Australian
commercial team has actively cultivated sales pipeline opportunities resulting in new orders.

Ava Group CEO Mal Maginnis commented: “Sales order intake during Q1 FY2025 was strong, particularly given the
usual seasonal softness in northern hemisphere markets during their summer holiday period in July and August.
Order intake grew in both Detect and Illuminate compared to the same period last year, while Access recorded its
strongest quarter since receiving initial stocking orders from dormakaba a year ago.”

“Further progress was made on our key projects and partner relationships during the quarter. We are actively
engaged with Telstra on several opportunities for the protection of their infrastructure assets. We expect some of
these initiatives to proceed during Q2 and are confident this will lead to commercial orders during FY2025.”

“Additionally there is significant further opportunity for us in the oil and gas sector. Our global sales pipeline has
continued to grow and I expect very strong sales order intake during Q2.”

Q1 FY2025 confirmed sales orders

The Company received sales orders of $8.9 million during Q1. Highlights from Q1 include:

• Detect: Total Q1 sales order intake of $6.2 million, is an increase of 85% on the same period last year. The
  improved result compared to the prior year is driven by further Aura Ai-X orders for an Eastern European
  border and significant orders from several customers in the Australian Oil & Gas sector ($0.9 million). These
  orders are primarily for Aura Ai-X and importantly support a traditionally softer period in the northern
  hemisphere summer holidays. The Detect pipeline remains very strong and we expect further growth in sales
  order intake in Q2.
• Access: Total Q1 order intake of $1.3 million (whilst lower than the same period last year) was the segment’s
  strongest quarterly performance since Q1 FY2024 when the Company received initial stocking orders from
  dormakaba under its global framework agreement. Sales order intake was supported by demand in both the
  Asia Pacific and European markets. Importantly, order intake improved in the U.S. in September driven by
  orders from dormakaba. The focus in the U.S. remains on driving end user demand for the Cobalt series locks
  to drive further re-ordering.
• Illuminate: Total Q1 order intake is $1.4 million, up 9% on the prior year. Q1 orders were well supported by
  several orders with key customers such as Bosch which offset lower domestic U.K. distributor sales. The LoRa
  product was launched during the quarter and is a key driver of growth over the remainder of FY2025.

At the end of Q1 FY2025, the Company carried an order backlog of $8.5 million which represents sales orders received
that are still to be fulfilled. Of the backlog, $4.9 million relates to equipment for project delivery which is anticipated
to be fulfilled across Q2 and Q3 of FY2025. The balance of the backlog relates to commissioning services and multi-
year support contracts. Importantly, the backlog includes multiyear recurring revenue contracts of $2.3 million.

Expansion in the Australian Oil & Gas sector
Underpinned by the deployment of its market leading Aura Ai-X fibre-optic detection technology, the Detect segment
has identified a number of opportunities in the oil & gas industry, particularly in the Asia-Pacific region. During Q1
multiple orders were received from several customers in this segment worth $0.9 million which are expected to be
fulfilled in H1 FY2025. Woodside Energy placed multiple orders for the upgrade of their core sites to Aura Ai-X. The
Company also received orders from Santos and Exxon PNG for security at their critical sites. The Company continues
to build strong relationships with key industry participants to drive additional growth, particularly in Australia.

Contract with UGL Limited on major Sydney transportation project
As announced on 7 December 2023, Ava Risk Group was awarded a contract from UGL Limited to deploy its fibre
optic sensing systems on a Sydney transportation project with a contract value of $3 million. During Q1 FY2025 the
Company commenced the commissioning of its Aura Ai-X controllers on newly deployed fences on the railway
corridor to prevent intrusions and detect objects on the track. In addition to the existing contract, the Company may
deploy its LoRa systems to provide better visibility of the gap between trains and platforms at a number of stations
on the railway corridor. Delivery of this contract remains an important milestone in expanding Ava Risk Group’s
position in the transport sector.

Update on supply agreement with Telstra Group
As announced on 9 February 2024, Ava Risk Group signed a preferred supplier agreement with Telstra Group for the
provision of goods and services to Telstra from each of the Company’s operating segments. During Q1 the Company
progressed several important opportunities with Telstra under this agreement:

• The Company has been engaged by Telstra to provide a new Aura Ai-X option for the monitoring of subsea
  cables as they come ashore, a key point of vulnerability to their fibre optic network. Detailed evaluation and
  trial of this technology will commence in Q2.
• Using its LoRa system, the Company is currently conducting a paid trial on pit lid intrusion detection and
  tampering in Western Australia. This trial is expected to conclude in Q2.
• The Company is also in discussion with Telstra for use of our products to provide enhanced security and
  detection for mobile network towers, infrastructure that is increasingly exposed to malicious damage and
  vandalism.
• The relationship with Telstra provides significant benefit to the Company in terms of technology development and
  products that will generate long-term global revenue opportunities. As the existing opportunities mature it is
  expected that the supply agreement will deliver revenue over the remainder of FY2025 and beyond.

Outlook
Based on the existing order intake and expected sales pipeline conversion, management provides revenue guidance
for the first half year in the range of $16.5 million – $17.5 million. Based on this revenue guidance the Company
expects to be EBITDA positive in the first half of FY2025.

Approved for release by the Board of Directors.

For further information, please contact:
Investor Enquiries
Alexandra Abeyratne
Citadel-MAGNUS
aabeyratne@citadelmagnus.com
+61 438 380 057

View Investor Presentation here.

View Appendix E and Annual Report here.

View Appendix 4G and Corporate Governance Statement here.

Ava Risk Group Limited (ASX: AVA) (“Ava Risk Group” or “the Company”) will release its full year results for the financial year ended 30 June 2024 on Tuesday 27 August 2024.

Ava Risk Group is a global leader in providing technologies and services to protect critical and high value assets and infrastructure.

Chairman David Cronin, CEO Mal Maginnis and CFO Neville Joyce will host a Zoom webinar to present the results at 9:30am AEST on the same day.

To register for the webinar, please follow the link below.

Date & Time: Tuesday 27th August 2024 at 9:30am AEST

Zoom link: https://us06web.zoom.us/webinar/register/WN_PsX4gbqiRNCK11qkTUSFm

ENDS

This announcement is authorised for release by the Board of Directors.

For further information, please contact:

Investor Enquiries
Alexandra Abeyratne
Sodali & Co
alexandra.abeyratne@sodali.com
+61 438 380 057

 About Ava Risk Group
Ava Risk Group is a global leader in providing technologies and services to protect critical and high value assets and infrastructure. It operates three business segments – Detect, Access and Illumination. The Detect segment manufactures and markets ‘smart’ fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks. Access is a specialist in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products. Illumination specialises in the development and manufacture of   illuminators, ANPR cameras and perimeter detectors.  Ava Risk Group products and services are trusted by some of the most security conscious commercial, industrial, military and government clients in the world. www.avariskgroup.com

Ava Risk Group Limited (ASX: AVA) (“Ava Risk Group” or “the Company”) is pleased to advise that it’s latest generation Aura Ai-X intrusion detection technology has been selected for three electricity substations on the East Coast of the United States. The contract, valued at over A$0.7 million, has been awarded by Johnson Controls Inc who are the system integrator for the substation projects and is for the immediate supply of detection equipment to the sites. There are no other conditions attached to the contract.

The contract demonstrates the ongoing demand for Ava Risk Group’s ‘Detect’ solutions from the US power sector as operators look to combat physical attacks on critical infrastructure and mitigate service disruption. It builds on the success the Company has achieved in recent years in providing intrusion detection technology to critical energy infrastructure in North America.

Ava Risk Group CEO, Mal Maginnis commented: “With increasing attacks on substations across the US, implementing security technology to protect infrastructure from vandalism, suspicious activity and physical attack has become a key priority for power authorities. We’re pleased that our intrusion detection technology has again been selected to protect these substations and are confident that our footprint in this market will continue to grow as new sites are added to the power grid.”

Approved for release by the Board of Directors.

For further information, please contact:
Investor Enquiries
Alexandra Abeyratne
Morrow Sodali
aabeyratne@morrowsodali.com
+61 438 380 057

About Ava Risk Group
Ava Risk Group is a global leader in providing technologies and services to protect critical and high value assets and infrastructure. It operates three business segments – Detect, Access and Illuminate. The Detect segment manufactures and markets ‘smart’ fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks. Access is a specialist in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products. Illumination specialises in the development and manufacture of illuminators, ANPR cameras and perimeter detectors. Ava Risk Group products and services are trusted by some of the most security conscious commercial, industrial, military and government clients in the world. www.avariskgroup.com

View the latest investor presentation here.

Ava Risk Group Limited (ASX: AVA) (“Ava Risk Group” or “the Company”) is pleased to provide the following update on its Q3 FY2024 trading performance:

• Q3 sales order intake of $6.8 million, resulting in year-to-date (YTD) sales order intake of $26.6 million, up 15% on the prior year.
• Major supply agreement signed with Telstra Group for the supply of products and services from all operating segments – Detect, Access and Illuminate. Execution of this agreement establishes a substantial opportunity in the global telecommunications market.
• Confirmed sales order backlog of $8.3 million; approximately two thirds is expected to convert to revenue in the current financial year, with the remainder to be delivered predominantly in FY2025.
• Successful completion of a $3.0 million institutional placement of new fully paid ordinary shares and a share purchase plan for eligible existing shareholders to raise up to an additional $1.0 million. Participation in the share purchase plan expires on 30 April 2024.
• Second half revenue guidance reaffirmed at $16 million to $20 million (range dependent on project delivery timing).

Ava Group CEO Mal Maginnis commented: “Growth in sales order intake remains strong at 15% on the prior year. Order intake during Q3 in Detect was lower than the previous quarter due to project timing. I remain confident in the quality of the pipeline in the Detect business and we expect to finalise various opportunities in Q4.”

“Execution of the supply agreement with Telstra represents a significant milestone. Following a period of extensive collaboration, the agreement clearly demonstrates the adaptability of our market leading fibre sensing technology to adjacent applications such as telecommunications. Importantly, it also provides an opportunity to supply our Access and Illuminate solutions in the sector.”

“Completion of the institutional placement of $3.0 million in new shares highlights the continued support from existing investors as well as attracting new investors. This strengthens our balance sheet and leaves us well placed to pursue growth and execute on significant major contracts such as UGL and Telstra.”

Q3 FY2024 confirmed sales orders
YTD sales order intake of $26.6 million is an increase of 15% on the previous year. All operating segments recorded growth on the previous year. Q3 sales order intake of $6.8 million is lower than the previous quarter due to the timing of some Detect opportunities which are forecast to close within Q4.

• Detect: Q3 sales order intake of $3.9 million resulting in YTD order intake of $16.8 million, an increase of 8% on the previous year. The order intake in the quarter was underpinned by a strong performance in Australia ($2.2 million) and U.K. / Europe ($0.8 million). Performance in the Americas and Middle East was slightly subdued with material increases expected in Q4 as a number of opportunities close within the final quarter.
• Access: Total Q3 order intake of $1.0 million continues to build on the strong first-half, resulting in YTD order intake of $4.8 million, up 73% on the previous year. This includes additional orders from dormakaba for the Cobalt series locks as H1 stocking orders move through its distribution network. This remains a key focus to drive additional orders during Q4 and beyond.
• Illuminate: The Illuminate segment continues its improved trajectory with Q3 sales order intake of $1.8 million resulting in YTD order intake of $5.0 million, up 5% on the previous year. The Company remains confident of further growth in Illuminate in Q4 and beyond based on improved domestic performance in the U.K. and expansion into new geographies in Asia Pacific and the Americas.

Importantly, at the end of Q3 FY2024, Ava Risk Group carried an order backlog of $8.3 million which represents sales orders received that are still to be fulfilled. Of the backlog, $5.3 million relates to anticipated project delivery in Q4 FY2024 with most of the remainder to be delivered in FY2025.

Chart 1 – Sales Order Intake

Supply Agreement with Telstra Group
On 9 February 2024, the Company announced that it had executed a supply agreement with Telstra Group for the supply of products and services from each of its operating segments. The agreement was the culmination of extensive collaboration with Telstra including product trials with Telstra and its customers. It represents a significant milestone and demonstrates the adaptability of Ava Risk Group’s market leading fibre sensing technology to adjacent applications such as telecommunications.

The agreement opens a substantial new opportunity in the telecommunications sector. The product trials demonstrated the superior ability of the Company’s fibre sensing technology to be deployed to Telstra’s existing fibre network to detect events and provide appropriate classification and reporting. It provides a rich source of data to Telstra and effectively turns the existing fibre network into sensors. Engagement with Telstra is ongoing to develop a program of work for delivery in FY2025 and beyond.

Institutional Placement and Shareholder Purchase Plan
During Q3 the Company completed an institutional placement of $3.0 million of new fully paid ordinary shares. The shares were acquired by existing and new shareholders with demand reflecting continued support for the Company’s growth strategy.

The Company also launched a share purchase plan for eligible existing shareholders which is expected to raise up to an additional $1.0 million. Participation in the share purchase plan expires on 30 April 2024.

Proceeds from both the institutional placement and share purchase plan will go towards supporting the execution of recently announced major contract wins, including working capital and product development requirements for large scale Detect programs.

Outlook
Based on the existing order intake and expected sales pipeline conversion, management provides revenue guidance for the second half year in the range of $16 million – $20 million (range dependent on the timing or project delivery).

ENDS

Approved for release by the Board of Directors.

For further information, please contact:
Investor Enquiries
Alexandra Abeyratne
Morrow Sodali
aabeyratne@morrowsodali.com
+61 438 380 057

About Ava Risk Group
Ava Risk Group is a global leader in providing technologies and services to protect critical and high value assets and infrastructure. It operates three business segments – Detect, Access and Illuminate. The Detect segment manufactures and markets ‘smart’ fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks. Access is a specialist in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products. Illumination specialises in the development and manufacture of illuminators, ANPR cameras and perimeter detectors. Ava Risk Group products and services are trusted by some of the most security conscious commercial, industrial, military and government clients in the world. www.avariskgroup.com

Download the Share Purchase Plan booklet here