The Board of Directors of Nera Telecommunications Ltd. announced that the Company has recently secured a contract renewal for managed services worth approximately SGD 17.6 million (the "Contract"). The Contract, signed with a service provider in Singapore (the "Customer"), covers a further three-year term commencing in July 2024. The Company will continue to provide the Customer managed services, including the management, maintenance and performance reporting of relevant equipment and software, as well as 24 x 7 continuous support to ensure Service Level Guarantees are met.

The Contract is expected to contribute to the performance of the Company commencing from the financial year ending 31 December 2024.