12 October 2023

Windward Ltd.

("Windward", "the Company")

Contract wins and renewals underpin a strong start to H2

Windward (LON: WNWD), the leading Maritime AI company, announces a number of contract wins and renewals in H2 2023 and confirms it is trading comfortably in line with market expectations for the year to 31 December 2023.

H2 typically sees a high level of US governmental contracting activity due to budgetary cycles, and that pattern has repeated this year, with the winning of two additional US government customers and no customer churn. The ROW Government segment has also performed strongly, with four new contracts. As expected, the renewal of the contract with the Nigerian government has taken place, adding $1m of ACV per year over three years. The Commercial sector customer base continues to grow, building on the strong performance of this sector in H1.

Ami Daniel, Co-Founder and CEO of Windward, commented:

"The need for greater visibility across all facets of the maritime industry is driving adoption of our maritime AI platform, both in the public and commercial markets. Having built a robust, global SaaS business, an international sales team and a growing, blue chip customer base, we are confident in maintaining momentum into Q4, trading comfortably in line with FY23 market expectations."

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About Windward

Windward (LSE:WNWD), a publicly-traded company on the London Stock Exchange, is a leading Maritime AI company, enabling organisations to achieve business and operational readiness. Windward's AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real-time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business. For more information visit: https://windward.ai/.