Droneshield clarifies Land 156 program tender disclosure to ASX

Droneshield Limited (ASX:DRO) responded to an ASX aware letter concerning its disclosure regarding the Land 156 program. On August 28, 2025, Droneshield announced it was not selected as the Systems Integration Partner for Project Land 156, a contract valued at approximately A$45 million. DRO stated it did not consider this information material, noting its internal forecast for revenue from the SIP contract was approximately A$7 million, representing only 0.3% of its global sales pipeline of A$2.34 billion.

The company clarified that its August 28 announcement was incorrectly marked as 'price sensitive'. In contrast, a July 24, 2025 announcement detailing A$5 million in confirmed orders under the initial Land 156 contract was considered material due to it being a confirmed order versus an unsuccessful tender. DRO became aware of the unsuccessful tender via a letter from the Department of Defence at approximately 12:00 pm on August 27, 2025.

DRO confirmed the information was confidential upon receipt but ceased to be so after a Defence Connect article named the successful tenderer shortly after 1:00 pm on August 27, 2025. The company will adopt quantitative materiality guidelines for contract-related announcements to prevent future errors.