Matrix Awarded New $10m Subsea Buoyancy Project

• Secured new $10m contract for subsea buoyancy supply in Gulf of Mexico
• Production to start in Q4 2025 and complete by end of FY2026
• Builds on recent $35m contract award, taking total new work to over $45m this FY

Matrix Composites & Engineering Ltd (ASX: MCE) has secured a new contract with a large multinational energy services contractor for the supply and manufacture of subsea buoyancy for a project in the Gulf of Mexico. The contract award is valued at approximately A$10 million, with production expected to start during the December 2025 quarter and complete prior to the end of the 2026 financial year. All equipment will be manufactured at Matrix's advanced composites production facility in Henderson, Western Australia. This new contract follows the recent ~A$35m award announced on 29 July 2025 and demonstrates the Company's continued success in the global SURF market, further building momentum in the 2026 financial year. Matrix's Chief Executive Officer, Aaron Begley, commented that it is pleasing to secure another significant contract, bringing new subsea work won to over A$45 million so far this financial year and further building a credible track record in the international buoyancy market. This project marks Matrix's first major award for the Company's Distributed Buoyancy in the Gulf of Mexico and demonstrates the growth for this product line in the broader market.

Matrix confirms that it does not expect the identity of the contract counterparty to have a material effect on the price of its securities, and that this announcement contains all material information relevant to assessing the impact of the contract on the price of Matrix's securities.