Framework Agreement – Initial £1.5m of Orders

Plexus Holdings PLC (AIM: POS), the AIM quoted wellhead services business, announces that it has received orders which will lead to about £1.5m of work under the recently announced Framework Agreement (See RNS dated 13 November 2025) for rental wellhead services with a UK Continental Shelf ("UKCS") operator.

HIGHLIGHTS

• The UKCS operator has issued orders under the Framework Agreement for rental wellhead equipment and services for several plug and abandonment ("P&A") wells
• The orders are expected to generate £1.5m of revenue over a 12 month period, subject to rig schedules and project planning.

Plexus' CEO Craig Hendrie said: "Securing orders under this framework agreement and beginning to mobilise equipment for the UK offshore sector is a very welcome development after a prolonged period of uncertainty in the region. We look forward to supporting the operator on these with the operational excellence and technical support that Plexus is known for."

DETAILS

Plexus has received the first orders for its Exact™ EX rental wellhead systems, associated equipment, and offshore support from a UKCS operator under a previously announced framework agreement.

The orders relate to work across several wells and are expected to generate approximately £1.5m of revenue over the next 12 months, although the precise timing of activity will depend on rig schedules and project planning for each individual well.

The Exact™ EX system is an adjustable surface wellhead that Plexus has optimised for safe and efficient deployment during drilling and abandonment operations. Its reusable, efficient to install, and well suited to decommissioning and P&A work, helping operators reduce rig time, cost, and environmental impact.