Award of ESA funding for development of user terminal

$G Invacom(QS9.SG)$ was awarded ESA funding towards developing a low-cost Ka-band user terminal n a larger enterprise solution in partnership with Methera Global Communications Ltd. The aim is to deliver terminals to mkt in 2024 to provide affordable satellite broadband to under-connected global communities.

The project is not expected to have any material impact on consolidated NTA per share and EPS for current financial yr.