FBR (FBR) Trading Update summary

Strategic partnership and agreement details

• FBR signed an Engineering Service Agreement with Samsung Heavy Industries (SHI) for a shipbuilding automation project.

• The agreement covers the first phase, focusing on proof of concept for a shipbuilding construction robot.

• FBR and SHI established a 10-year exclusive dealing relationship for materials delivered in Phase 1.

• FBR will receive US$150,000 plus expenses and pre-approved additional fees for Phase 1.

Project scope and future plans

• Phase 1 involves developing, demonstrating, and validating a core technology module within five months.

• Both parties plan to explore commercialisation models for the robot during Phase 1.

• Potential subsequent phases are anticipated, pending successful completion and validation.

Company background and technology focus

• FBR is commercialising Dynamic Stabilisation Technology (DST) with long boom robotics.

• Applications include the Hadrian X robot, Wall as a Service (WaaS), and future uses in shipbuilding, steel, and energy sectors.