• Divestment of EM Solutions subsidiary for $158.6m, debt repayment of $61.1m
• New orders for Counter-Drone Systems, Remote Weapon Systems, and spares
• Continued negotiations on major opportunities in Australia, North America, and Ukraine

EOS announced the divestment of its non-core, satellite communications subsidiary, EM Solutions, to Cohort plc for an enterprise value of $144.0m. The divestment was completed on 31 January 2025, with proceeds of $158.6m received. As required by the debt agreement, EOS repaid $61.1m (inclusive of capital, interest and make whole amounts) to its primary lender, Washington H. Soul Pattinson, on the same date. Following this debt repayment and the divestment of EM Solutions, EOS has nil borrowings and expects to hold approximately $128.0m of cash balances at 31 January 2025. During the quarter, EOS received an order for Counter-Drone Container-Based Remote Weapon Systems from a new Western European customer valued at EUR8.2m (approximately A$13.6m), and orders for RWS spares worth SGD17.1m (approximately A$20.1m) from EOS Singapore. EOS continued advanced negotiations on the Land 400 Phase 3 RWS opportunity in Australia, valued at up to A$100m, and discussions regarding the potential sale of its heavy-calbre, R800 RWS, to a new customer in North America, valued at up to A$30m. The company also worked on Ukrainian opportunities, including discussions regarding budget availability to place firm orders under existing conditional contracts and discussions with donor nations regarding the supply of RWS for donation to Ukraine.