• BSA not successful in securing new nbn Field Module contract
• Current Unified Field Operations contract with nbn to expire on 30 September 2025
• Volume of work orders expected to decrease from May 2025, with new orders stopping by mid-July 2025
• BSA to incur $6.5m in restructure costs to reduce operating costs

BSA Ltd (ASX:BSA) has been formally notified by NBN Co (nbn) that it was not successful in securing the new nbn Field Module contract, which was pursued in a teaming arrangement with UGL. BSA's current Unified Field Operations (Services) contract with nbn is set to expire on 30 September 2025. nbn has notified BSA of the expected transition timeline for this contract. While the Unified Field Operations (Services) contract does not guarantee any volumes, it is expected that the volume of work orders issued to BSA will progressively decrease from around May 2025, and it is expected that new work orders will stop being issued to BSA from about mid-July 2025. BSA expects to incur restructure costs of approximately $6.5m in the current financial year in order to reduce operating costs in connection with the revenue decline. The cash flow impact is expected to be approximately $10.0m once employee entitlements are also included. BSA is actively assessing all strategic options to address the financial and operational impacts of these changes and will continue to keep shareholders informed as further details emerge.