。
She took first prize at the speech contest.
Literal
She [topic-は] speech-contest [at-で] first-prize [object-を] took.
スピーチコンテスト is a loanword compound — 'speech contest' — and a fixture of Japanese English-language education. From elementary school onward, students enter contests reciting set passages or delivering original speeches in English; the format also exists in Japanese for native-speaker training. The で marks the location of the action (the contest). 1等賞 ('first prize') uses 等 as a rank counter — 1等 first, 2等 second, 3等 third — combined with 賞 ('prize'). 取る ('take') is the everyday verb for winning a prize.