RNS Number : 6808G Crimson Tide PLC 17 November 2022 This announcement contains Inside Information 17 Nov 2022 Crimson Tide plc ("Crimson Tide" or "the Company") Significant contract expansion and extension Crimson Tide plc (TIDE), the provider of the mpro5 smart app solution, is pleased to announce a significant new and highly improved 3-year contract with an existing retail client. The contract, with a value of over £1m of high-margin revenue per annum, more than doubles the annual recurring revenue under the previous contract. The contract includes an optional break clause at month twenty-four, although it is important to note that, at the end of the new contractual term, the client's relationship and contracts with Crimson Tide will have exceeded ten years. mpro5's value to the client has evolved from one single use case of the platform to over thirty processes across the organisation. mpro5 guides and records store-wide procedures and provides evidence for policies that support a wide range of compliance requirements. mpro5 is a full-service solution that also contributes to the client's staff and working practice efficiency and is used daily across its national estate. Barrie Whipp, Chairman, commented: "If ever there was an exemplar of how mpro5 can demonstrate its value, this well-known retailer is a beacon. The expansion of use cases for our platform and associated long-term contracted revenue go hand in hand. At the same time, our values of partnership, dynamism and teamwork have established mutual trust with the client. Our exceptional team continues to seek further efficiencies by evolving mpro5 to provide innovative solutions to both existing and anticipated requirements. "We continue to add high quality, contracted annual recurring revenue as we increasingly expand our footprint by sector and internationally. The enterprise solutions we deliver drive efficiency, which is vital in today's economy. Accordingly, the Board believes them to be compelling and ripe for further growth." For further information, please contact: Crimson Tide plc Barrie Whipp / Jacqueline Daniell / Peter Hurter Via Alma PR finnCap (Nominated adviser and Broker) Corporate Finance: Julian Blunt / Milesh Hindocha Corporate Broking: Andrew Burdis +44 20 7220 0500 +44 20 7220 0500 Alma PR - (Financial PR) Josh Royston / Will Ellis Hancock +44 7780 901 979 Crimson Tide provides mpro5, the Smart App Solution. For further information, see mpro5.com and on Crimson Tide plc, crimsontide.co.uk This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END CNTUNABRUNUAAAA