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NZX Release
26 March, 2021

Trading update - new contracts secured

During the past two and a half months, MHM Automation has secured a number of significant new contracts that underpin the business for the remainder of the financial year and through the 2021 calendar year.

MHM Automation is today providing a trading update.

During the past two and a half months, MHM Automation has secured a number of significant new contracts that underpin the business for the remainder of the financial year and through the 2021 calendar year. These include:
1. A $13m contract for three SSO plate freezers to an Australian red meat exporter
2. A contract for the delivery of a number of stainless silos for the dairy industry in New Zealand
3. An order for three BetaVac cheese vacuum packers to a US-based customer
4. A bin handling system for a New Zealand-based pet food company

The pipeline for new orders remains strong, particularly in the chilling and freezing business where we are now taking orders for delivery as far out as November 2022.

We have been driving a strategy of diversification of the products, sectors and geographies that we sell to. This is now coming to fruition. We are investing in capability across the Group to ensure we can match demand.

In our February half year announcement, we said we were confident of increased profitability for the financial year to 30 June 2021. This guidance still stands with an expectation of increased EBITDA over the prior year.