GlobeNewswire Inc | Jan 26, 2022 03:00AM EST

January 26, 2022

LONDON, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Arqit Quantum Inc (Arqit), a global leader in quantum encryption technology, is pleased to announce that it has been selected by the Department for Digital, Culture, Media and Sports (DCMS) to develop a wideband solution for 5G cellular Open RAN platforms. Arqit will help integrate a novel quantum encryption service for a project in partnership with DCMS, which will enable security by default. As a result, communications links will be secure against any network device against future forms of attack, including from a quantum computer.

Funded as part of the Department for Digital, Culture, Media, and Sport and the Future RAN Competition (FRANC), the project, in which Arqit is a partner, aims to democratise radio access networks (RANs) in order to end vendor lock-in and improve flexibility, affordability, and interoperability all key to the UK Governments recently-announced plan to see 35 per cent of UK cellular traffic carried over Open RAN architectures by 2030.

The project will see Arqit, working alongside other partners to secure a new wideband solution for 5G cellular Open RAN platforms. Additionally, Arqit will incorporate its QuantumCloud platform, which will enable security by design, making the security of 5G unbreakable even by a quantum computer.

Arqit Founder, Chairman and CEO, David Williams, added We are delighted that Arqit has been chosen as a partner on DCMS FRANC project. This project will benefit from Arqits globally unique, transformational quantum safe encryption, which will be a major step in securing the wider network and its devices.

Additional information on the FRANC grant awardees is available on GOV.UK.

About Arqit

Arqit supplies a unique quantum encryption Platform-as-a-Service which makes the communications links of any networked device secure against current and future forms of attack even from a quantum computer.Arqits product, QuantumCloud, enables any device to download a lightweight software agent, which can create encryption keys in partnership with any other device.The keys are computationally secure, optionally one-time use and zero trust.QuantumCloud can create limitless volumes of keys in limitless group sizes and can regulate the secure entrance and exit of a device in a group.The addressable market for QuantumCloud is every connected device.

Media relations enquiries:Arqit: Julie Moon T: +44 7825 503 950 E: julie.moon@arqit.uk

Investor relations enquiries:Arqit:investorrelations@arqit.ukGateway:arqit@gatewayir.com

Caution About Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on Arqits expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqits control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect it. Except as required by law, Arqit does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Arqits future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (i) risks that the business combination disrupts Arqits current plans and operations, (ii) the outcome of any legal proceedings that may be instituted against the Arqit related to the business combination, (iii) the ability to maintain the listing of Arqits securities on a national securities exchange, (iv) changes in the competitive and regulated industries in which Arqit operates, variations in operating performance across competitors, changes in laws and regulations affecting Arqits business and changes in the combined capital structure, (v) the ability to implement business plans, forecasts, and other expectations after the completion of the business combination, and identify and realize additional opportunities, (vi) the potential inability of Arqit to convert its pipeline or orders in backlog into revenue, (vii) the potential inability of Arqit to successfully deliver its operational technology which is still in development, (viii) the risk of interruption or failure of Arqits information technology and communications system, (ix) the enforceability of Arqits intellectual property, and (x) other risks and uncertainties set forth in the sections entitled Risk Factors and Cautionary Note Regarding Forward-Looking Statements in Arqits annual report on Form 20-F, filed with theU.S. Securities and Exchange Commission(the SEC) onDecember 16, 2021and in subsequent filings with theSEC. While the list of factors discussed above and the list of factors presented in the final prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.