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NextPlat's Global Telesat Receives Connectivity Services Contract Extension from Military Customer

1. NextPlat received a one-year contract extension for connectivity services. 2. The contract is with an African military customer and includes hardware sales. 3. Iridium PTT devices are essential for secure and reliable communication. 4. The extension shows growing interest in NextPlat's connectivity solutions. 5. Revenue from this contract will boost connectivity services through 2025.

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Why Bullish?

The contract extension signifies validated business traction and revenue assurance, reminiscent of similar positive impacts from military contracts in the tech industry that often lead to stock price increases due to predictable revenue streams.

How important is it?

The contract's considerable value and the strategic partnership with a military client signifies an important growth opportunity for NXPL; this can positively influence investor sentiment and stock valuation.

Why Short Term?

The immediate revenue boost from the contract renewal is expected within the next year, showing short-term positive operational effects that can influence NXPL’s stock rapidly.

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Contract Renewal for Hardware and High Margin Recurring Airtime Services Expected to Contribute to Continued Growth in Connectivity Services Revenue Throughout 2025 , /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today announced that its subsidiary, Global Telesat Communications Ltd ("GTC") has received a one-year wireless connectivity services contract extension from an African military customer. The original contract for Iridium Push-To-Talk (PTT) device hardware and related airtime services from this military customer was awarded to GTC in the first quarter of 2024 and at that time, represented the largest contract of its type received by the company in its history. The extension contract includes options for additional future hardware purchases and annual airtime services. All hardware and airtime services sales under this contract are not subject to any recently imposed US tariffs. Increasingly popular with government, military and enterprise customers, the Iridium Extreme® PTT devices provide instant, secure, and reliable communication anywhere in the world, making them an essential tool for multi-national operations, emergency response, and remote fieldwork. Designed for use in the most challenging environments, the devices offer global coverage, rugged durability, and advanced push-to-talk capabilities, enabling teams to stay connected at the push of a button. "The renewal of this significant hardware and connectivity services contract is further evidence of value and growing international interest in Iridium PTT devices we are seeing from a diverse range of government and enterprise organizations. We are honored that this customer has chosen us to continuing supporting their connectivity needs and we look forward to further building upon the trust they have placed in us to keep their personnel connected," said David Phipps, President of NextPlat and CEO of Global Operations, and Managing Director of Global Telesat Communications. For more information about NextPlat, please visit www.NextPlat.com and connect with us on Facebook, LinkedIn and X. About NextPlat CorpNextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the Company intends to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat currently operates an e-Commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care LLC. Forward-Looking StatementsCertain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services, or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release. Media and Investor Contact for NextPlat Corp: Michael GlickmanMWGCO, Inc.917-397-2272[email protected] SOURCE NextPlat Corp. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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