Trading Update

RC Fornax (AIM: RCFX), the UK-based consultancy delivering outcome-based engineering solutions to the defence sector's most critical platforms - accredited, in-demand, and built to scale, is pleased to provide the following trading update reflecting continued strong operational and commercial progress.

The Company has experienced a sustained level of order intake in Q2 FY26 (1 December 2025 -28 February 2026). Total orders secured in this period amounted to approximately £1.9 million despite the seasonal slowdown typically experienced across the defence sector over the Christmas period.

This momentum has continued into the current financial quarter and during March 2026, the Company secured approximately £1.4 million in total orders during March including in particular three new purchase orders as well as two new public sector opportunities, and six existing purchase orders have also been extended.

This progress builds on the strong start to FY26 which saw the Company deliver its strongest quarter to date from 1 September 2025 to 30 November 2025.

As a result, the Company now has firm visibility over more than £5.1 million in sales under purchase order and subject to contract for FY26.

This sales momentum is a consequence of both improved market conditions and the operational changes made within the business that have resulted in more purchase orders being secured for contracts on a recurring basis, whether through extensions or new wins, than in the entirety of FY25. There is also a growing mix of new and follow-on engagements.

Paul Reeves, Chief Executive Officer of RC Fornax, commented: "The progress we are seeing represents a clear step change in the scale and consistency of our commercial performance. We are now delivering materially higher levels of orders on a recurring basis, with this improved run rate providing a stronger foundation for revenue visibility. Importantly, this momentum is not only supporting our expectations for the current year but is also establishing a more meaningful platform as we look ahead.

"We are particularly encouraged by the strength of performance in the recent period, which delivered a robust level of order intake despite seasonal factors, and by the strong momentum we are seeing at the start of the current period.

"The demand environment for the Company's services remains supportive. The UK's continued prioritisation of war-fighting readiness is reinforcing the requirement for cost-effective, outcomes-focused support across engineering, procurement and capability development, areas that play directly to RCF's strengths.

"Customers are also placing greater emphasis on driving value from existing budgets amid constraints on new investment funding. This dynamic is supporting ongoing demand for RCF's flexible and efficient delivery model, which is designed to enhance programme performance without increasing overall cost.

"The continued build in our sales pipeline and improving commercial momentum gives us increasing confidence in the direction of travel of the business. We look forward to providing shareholders with further positive updates as this momentum continues to build."