Contract momentum provides a strong start to H2

10 October 2024

Windward Ltd.

("Windward", "the Company")

Continued contract momentum provides a strong start to H2

Windward (LON: WNWD), a leading Maritime AI company, is pleased to announce a number of key business developments since the end of the first half of 2024.

Key customer wins:

Wins in the commercial sector continue at a steady pace consistent with previous periods, including healthy business expansion from existing customers. In the ROW government sector, we won two new customers for a total of $1.9m of ACV.

Government renewals:

In both ROW and US sectors, customer renewals are progressing as expected.

MAI Expert:

Acceptance rates for the recently launched MAI Expert, our proprietary generative AI agent, have been strong, with six existing commercial customers purchasing access to MAI Expert during their renewal process and several new commercial customers signing up.  We have started the rollout of MAI Expert to our public sector customers with a similar price uplift. MAI Expert now also supports a multilingual response to our customers allowing them a more local experience.

Middle East conflict:

Management confirms the ongoing geopolitical situation in the Middle East has not had a material impact on Windward's activities. Separately, in order to ensure closer cooperation with the industry, the Company moved its HQ to London during Q1 2024.

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

"I am pleased to report continued contract momentum into H2. Investments into new products are paving the way for new opportunities through an expanded addressable market. We are laser focused on achieving profitability while continuing to execute against our product roadmap to deliver an enhanced offering for our customer base."

For more information, please contact:

About Windward

Windward (LSE:WNWD), is a leading Maritime AI™ company, providing an all-in-one platform to accelerate global trade. Windward's AI-powered decision support and exception management platform offers a 360° view of the maritime ecosystem and enables stakeholders to make real time, predictive intelligence-driven decisions to achieve business and operational readiness.

Windward's Maritime AI supports companies across industries. The company's clients range from oil supermajors, freight forwarders, and port authorities, to banks, shippers, insurers, and governmental organizations.

For more information visit: https://windward.ai/.

Prior to publication the information communicated in this announcement was deemed by the Company to constitute inside information for the purposes of article 7 of the Market Abuse Regulations (EU) No 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations No 2019/310 ('MAR'). With the publication of this announcement, this information is now considered to be in the public domain.