• Matrix Composites & Engineering secures $11 million in new subsea project awards
• New projects include supply of drilling riser buoyancy upgrades and subsea installation buoyancy
• All production to be completed at Matrix's Henderson, Western Australia facility by end of FY26

Matrix Composites & Engineering Ltd (ASX: MCE) has announced an increase in secured revenue for the 2026 financial year (FY26) with approximately $11 million in new project awards adding to the Company's Subsea order book. The four new projects, across separate customers, include the supply of drilling riser buoyancy upgrades for existing deepwater drilling rigs and subsea installation buoyancy into the Subsea Umbilicals, Risers and Flowlines (SURF) market. All production for the new projects will be completed at Matrix's advanced composites production facility in Henderson, Western Australia, with the work to be fully manufactured, or majority completed, by the end of FY26. Matrix has now secured group revenue of at least $80 million for FY26. Revenue and earnings will be significantly weighted to the second half of the financial year off the back of over $60 million in new subsea work awarded since July, and production of this year's major subsea projects recently commencing in November.

Matrix has secured group revenue of at least $80 million for the 2026 financial year.

Additional near-term subsea buoyancy opportunities are also being pursued by Matrix.