• $4.975M sale value, subject to adjustments
• 80 customers and 21 staff to transition to buyer
• FSG anticipates $4.8M reduction in operating expenses and $12M in gross revenue

Field Solutions Holdings Limited (ASX: FSG), Australia's leading rural, regional, and remote telecommunications carrier and full-service ICT provider, has entered into a binding heads of agreement to sell its mining customer base to PIT Mining IT Pty Ltd. The sale value is $4.975M, subject to working capital and other adjustments, with $1.975M of the sale value subject to performance conditions. As part of the sale, 80 customers and 21 staff will transition to the buyer. FSG anticipates a reduction of $4.8M in operating expenses and $12M in gross revenue associated with the sale. Consistent with its previously announced strategy, FSG has sought to divest its mining business unit to reduce revenue concentration and high-capex project risk. The sale of this business unit to Pit Mining IT is subject to the finalisation of a business sale agreement on or before 1 March 2025. The announcement has been approved by the board of Field Solutions Holdings Limited.