Matrix Awarded New Subsea Buoyancy Contract

• Matrix awarded a new A$34 million contract for subsea components
• Project starts immediately, expected completion by end of FY27
• Contract significantly increases Matrix's contracted work for FY27
• CEO comments on strong market position and positive outlook

Matrix Composites & Engineering Ltd (ASX: MCE) has been awarded a new contract for the supply and manufacture of subsea components for an international energy project. The contract, valued at approximately A$34 million, is with a large multinational energy services contractor and includes options for further equipment packages and services. The project will commence immediately at Matrix's facility in Henderson, Western Australia, with production expected to start in Q4 2026 and completion by the end of FY27. This contract award significantly increases Matrix's contracted work over the next 12 months and underpins a positive outlook for the subsea services sector for FY27.

A$34 million contract awarded, expected completion by end of FY27

Matrix's CEO expresses confidence in a positive outlook for FY27, reflecting the company's strong position in the international subsea market.