ikeGPS 1H FY24 Performance Update

FOR IMMEDIATE RELEASE, 25 October 2023

1H FY24 Performance Update
Revenue of ~$10.5m (-32% vs pcp).
Strong ongoing growth in subscription revenue (+24% vs pcp).
Slow-down in transaction revenue due to delayed engineering projects with long-term customers, with
volumes expected to resume.

IKE performance update for 1H FY24
ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to release an update for 1H FY24 to
30 September 2023 (all figures in NZD).
Highlights for the quarter:
+ Revenue 1H FY24 of ~$10.5m (-32% vs pcp).
+ Subscription revenue was ~$5.1m (+24% vs pcp).
+ Transaction revenue was ~$3.7m (-60% vs pcp).
+ Gross margin 1H FY24 of ~$6.2 m (-24% vs pcp), reflected in the revenue mix above.
+ Gross margin percentage 1H FY24 of ~59% (up from pcp of ~53%).
+ Cash and receivables as at 30 September 2023 ~$16.3m, comprised of $10.2m cash and
$6.1m receivables, with payables of $1.2m and no debt.

IKE notes that the full financial statements for the six-month period to 30 September 2023 are
expected to be released 29 November 2023.

Commentary and outlook
IKE CEO Glenn Milnes commented, "1H FY24 was a mixed period at IKE. Customer wins and
growth in recurring subscription revenue were strong, positioning the business well for the long-
term. However, transaction revenue fell for the first time. This slow-down was well signaled to
the market, with several major IKE customers in the U.S. communications segment having
network projects slowed, mostly with unrelated regulatory impediments. These long-term
customers are not lost, and have communicated that they expect transaction volumes will
resume and that the multi-year outlook for use of IKE platform is robust. As a reminder of IKE’s
business model, IKE generates additive transaction revenue, on top of subscription revenue, from
some customers as they engineer more network assets in our system.
In other areas of business development:
- Our next-generation PoleForeman product was released to market in the period, having
been designed with a customer council including the engineering standards leaders
from five-of-the-ten largest investor-owned utilities and the largest communications
company in the United States. We are optimistic that this new product will deliver
significant value to existing customers and to the wider market. Because of the
associated new business model and pricing, it is expected this product will drive an

2
additive $4-7m of annual recurring subscription revenue from the existing PoleForeman
customer footprint, so up to five-times higher than legacy product revenues.
- In 1H we acquired the assets of the Marne & Associates NESC compliance training
business to allow us to add more value to, learn from, and cross-sell our technology
products to end users via our expanded Training and Education business unit. The
expanded Training and Education business unit will also give us access to thousands of
industry specific engineers at U.S. electric utilities each year, and will strengthen our
position as a thought leader in pole infrastructure in the USA.
- We have seen continued expansion of various existing customers. Several new and
important tier-1 enterprise groups have been onboarded in the 1H period and we expect
more to follow in 2H. 1H customer wins included a North-East electric utility group
ranked in the top ten investor-owned utilities in North America, in a deal worth more than
$400k subscription revenue over the next three years. Another material win was closing
a contract with a national communications company for expected $1.5m+ subscription
revenue. This is supporting an assessment of more than one million distribution assets
in California, and cross-sales into other States are in progress.
Management and the Board remain cognizant of the importance of maintaining a strong balance
sheet position, and are focused on maintaining a strong balance sheet by managing costs
appropriately to align with revenue growth opportunities.
The long-term growth outlook for IKE remains solid, with key market drivers being the 20-plus
year requirement for North American electric utilities to build grid capacity & resiliency, and the
five-plus year requirement for communications companies to build fibre & 5G networks. IKE
solutions drive dramatic productivity benefits into these network engineering programs. We
anticipate that a healthy run rate of new contracts will continue to close in the 2H FY24 period
and beyond.”

Performance across the business is set out in the following table and charts:

1H FY24
PCP
(1H FY23)
% Change
Total Revenue$10.5m$15.4m-32%
Platform Transactions
# of billable transactions142k259k-45%
Platform transaction revenue$3.7m$9.4m-60%
Gross Margin$0.7m$3.6m-80%
Gross Margin %19%38%
Platform Subscriptions
Platform subscription revenue$5.1m$4.1m+24%
Gross Margin$4.5m$3.6m+23%
Gross Margin %87%88%
Hardware & Other
Hardware & Services revenue$1.7m$1.9m-11%
Gross Margin$1.0m0.9m+5%
Gross Margin %60%51%

3




Takeaways
Recurring subscription and
reoccurring transaction
revenues (shown by the
Green and Blue segments in
this chart) dominate IKE’s
revenue mix, at 85% YTD.
An expectation for healthy
growth in the 2H FY24
period and beyond.



Takeaways
Significant growth in
underlying subscription
revenue.
This is expected to increase
materially with IKE’s next
generation PoleForeman
being released in FY24, that
is forecast to be adopted by
the existing footprint of tier-
1 utility customers currently
using the legacy version.

4



Takeaways
Transaction revenue fell for
the first time.
This slow-down was well
signalled to the market, with
several major IKE
customers in the U.S.
communications segment
having network projects
slowed, mostly with
unrelated regulatory
impediments.
These long-term customers
are not lost, and have
communicated that they
expect transaction volumes
will resume and that the
multi-year outlook for use of
IKE platform is robust.



ENDS

About ikeGPS
We’re IKE, the PoleOS™ Company. IKE seeks to be the standard for collecting, analysing and
managing pole and overhead asset information for electric utilities, communications companies,
and their engineering service providers.
The IKE platform allows electric utilities, communications companies, and their engineering service
providers to increase speed, quality, and safety for the construction and maintenance of distribution
assets.
The core revenue engine for IKE is driven by the number of enterprise customers subscribing to the
IKE platform and the volume of assets (called Transactions) being processed through IKE’s
software.


Contact:
Glenn Milnes
CEO
+1 720-418-1936
glenn.milnes@ikegps.com

Simon Hinsley
Investor Relations
+61-401-809-653
simon@nwrcommunications.com.au

ikeGPS Group Limited
329 Interlocken Parkway, Suite 120, Broomfield CO 80021, USA
Office: +1 303 222 3218
www.ikegps.com

---

IKE Performance Update
for the 1H FY24 Period to 30 September 2023
We’re IKE, the Pole OS™ Company
Glenn Milnes, CEO
glenn.milnes@ikegps.com
October 2023
CONFIDENTIAL

ikeGPS
2
Important Notice
•Is for general information purposes only, and is not an offer or invitation for subscription, purchase, or
recommendation of securities in ikeGPSGroup Limited (IKE);
•Should be read in conjunction with, and is subject to, IKE’s FY23 financial results (audited), 1H FY23 financial results
(unaudited) , recent market releases, and information published on IKE’s website (www.ikegps.com);
•Includes forward-looking statements about IKE and the environment in which IKE operates, which are subject to
uncertainties and contingencies outside of IKE’s control – IKE's actual results or performance may differ materially
from these statements;
•Includes statements relating to past performance, which should not be regarded as a reliable indicator of future
performance; and
•May contain information from third parties believed to be reliable – however, no representations or warranties are
made as to the accuracy or completeness of such information.
•All information in this presentation is current at the date of this presentation, unless otherwise stated.
•All currency amounts are in NZ dollars unless stated otherwise.
Receipt of this Document and/or attendance at this presentation constitutes acceptance of the terms set out above in
this Important Notice.
Information in this Presentation:

ikeGPS
3
Agenda
1H FY24 performance
Addressable market, and IKE’s value proposition
Q&A

ikeGPS
4
At-a-Glance
FY23 performance headlines
$NZD
Fiscal Year Ending Mar-31
FY23 Revenue Growth vs pcp
~93%
FY23 Recurring & Reoccurring Revenue
~89%
FY23 Gross Margin %.
Opportunity for Growth via Automation Tech
~53%
Cash & Receivables on the Balance Sheet
~$23.2M
FY23 Revenue
~$30.8M
FY23 Gross Margin, 66% Growth vs pcp
~$16.4M
EBITDA
~($2.1)M
~380
Enterprise Customers, ~6% of North American
market winning ~1 new customer per week

ikeGPS
5
•1H FY24 was a mixed period at IKE.
•Customer wins and growth in recurring subscription
revenue were strong, positioning the business well
for the long-term.
•However, transaction revenue fell for the first time.
This slow-down was well signaled to the market,
with several major IKE customers in the U.S.
communications segment having network projects
slowed, mostly with unrelated regulatory
impediments .
•These long-term customers are not lost and have
communicated that they expect transaction
volumes will resume and that the multi-year outlook
for use of the IKE platform is robust.
•IKE’s business model as a recap, IKE generates
additive transaction revenue, on top of subscription
revenue, from some customers as they engineer
more network assets in our system.
Revenue 1H FY24 of ~$10.5m (-32% pcp)
Takeaways:

ikeGPS
6
•Significant growth in underlying
subscription revenue.
•This is expected to increase
materially with IKE’s next generation
PoleForeman being released in
FY24, that is forecast to be adopted
by the existing footprint of tier-1
utility customers currently using the
legacy version.
Subscription revenue growth has continued to be strong (+24% pcp)
Takeaways:

ikeGPS
7
•Transaction revenue fell for the first time.
•This slow-down was well signaled to the
market, with several major IKE customers
in the U.S. communications segment
having network projects slowed, mostly
with unrelated regulatory impediments .
•These long-term customers are not lost,
and they have communicated an
expectation that transaction volumes will
resume and that the multi-year outlook for
use of IKE platform is robust.
But transaction revenue was weaker, temporarily (-60% pcp)
Takeaways:

ikeGPS
8
1H FY24 Key Metrics
1H FY24
PCP
(1H FY23)
% C ha ng e
Total Revenue
$10.5m$15.4m-3 2 %
Platform Transactions
# of billa ble tra ns a c tions142k259k-4 5 %
Pla tform tra ns a c tion re ve nue$3.7m$9.4m-6 0 %
Gros s Ma rgin$0.7m$3.6m-8 0 %
Gros s Ma rgin %19%38%
Platform Subscriptions
Pla tform s ubs c ription re ve nue$5.1m$4.1m24%
Gros s Ma rgin$4.5m$3.6m23%
Gros s Ma rgin %87%88%
Hardware & Other
Ha rdwa re & Se rvic e s re ve nue$1.7m$1.9m-1 1 %
Gros s Ma rgin$1.0m0.9m5%
Gros s Ma rgin %60%51%

What IKE does, and the market opportunity being addressed
Product and Market re-cap

ikeGPS
10
Communications Market Macro
More than 3,000 electric utilities and 200M distribution assets across the U.S.
Investing in decades-long grid resiliency and grid capacity programs
Facing common challenges
•Grid resiliency requirements
•Grid capacity requirements
•Significant legal liability risks
•Regulatory and Engineering code compliance
•An ageing workforce, requiring tech vs more people
IKE products dramatically improve the engineeringdesign & maintenance process

ikeGPS
11
Where IKE sells: U.S. Market-Map of Investor-Owned Utilities (multi-$B companies)
IKE is the Standard within 6 of the 10 largest today, but with a huge expansion opportunity......

ikeGPS
12
Where IKE sells: U.S. Market-Map of >2,800 Municipalities and Co-Operatives
All of which represent sales opportunities for all IKE products
Takeaways
•Market timing is everything
•IKE is in the right place, and the
right time, with the right technology,
team and execution capability
•Overlay on these maps, >2,000
engineering companies that serve
the electric utilities

ikeGPS
13
25-year Macro-Market Tail Wind for Grid Resiliency & Expansion ($B’s)
An Electric Utility Industry, Spending 100’s of Billions, in Need for Productivity Solutions, such as IKE
7.27.27.27.27.27.27.27.27.27.27.27.2
3.63.63.63.63.63.63.63.63.63.63.63.6
3.63.63.63.63.63.63.63.63.63.63.63.6
44.9
46.4
49.3
52.2
59.4
65.2
71.0
78.3
82.6
87.0
89.9
95.7
$59.4
$60.9
$63.8
$66.7
$73.9
$79.7
$85.5
$92.8
$97.1
$101.4
$104.3
$110.1
201420152016201720182019202020212022202320242025
CanadianMuniCo-opsUS IOU
U.S. AND CANADIAN ELECTRIC DISTRIBUTION CAPITAL EXPENDITURES
ACTUALFORECASTED
CAGR: +5.3%
CAGR: +3.5%
$NZD in B

ikeGPS
14
IKE has a Suite of Distribution Network Software Products
Digitization of network
assessment
Bulk data processing for
distributionnetwork
decision making
Pole loading analysis
and structural design
Technology & automation drivencapability
to accelerate engineering
+
Business model upshot
•A recurring Subscription to
access any IKE Solution
•Additive, reoccurring Fees
based on usage (license
seats or transactions)
•Optional value-added
products , such as IKE
Analyze and IKE University

ikeGPS
15
IKE Goes to Market Directly
With a deepened team of segment experts
SVP of
Sales
VP of Utilities
Solutions
Engineering
Manager
Solutions Engineer
Systems Engineer
Systems Engineer
Production Engineer
Sr. Account
Manager
Sr. Director of
Communications
Sales
Inside Sales
Lead
Generation
Sr. GIS
Manager
Sales
Operations
Coordinator
Director, Utility
Enterprise
Director, Utility
Enterprise
Director, Utility
Enterprise
Solutions Engineer
Inside Sales
Sr. Director of
Communications
Sales
Sales
Operations &
Marketing
automation
Each rep has 40-50
named accounts
Market focus: Utility &
Major ESP
Each rep 40-50 named
accounts
Market focus:
Communications &
some ESP
Some existing Business
mostly New business
hunting
Mostly Existing
Customer Expansion
and Inbound leads
Market Focus:
Communications, Small
Utilities (Coop/muni) &
Engineering firms

ikeGPS
16
A Sales Motion that Starts with Strategy & Playbooks
Market Opportunity
Addressable Market
NA Electric Distribution Utility Spend (Forecast)
Industry Drivers and Macro-Market Trends
Industry Convergence
GTM Strategy Defined
IOU’s, Coops, Public Power
Utility Service Providers/Engineering firms
Strategic Account Focus / Regions 40-50 accounts each – with
account plans
Define Ideal Customer Profiles (ICP) & Personas, Pains & Gains
Create thematic messaging in marketing & sales
Three verticals – different messaging resonates
Utilities – “Defendable Data”
Communications – “Faster, Safer, Truer”
Engineering – “Increased Accuracy & Improved Productivity”
Company Overview & Sales Roles
Product & Pricing
Value Propositions
Pain relivers & Gain creators by product
Price maximization
Strategic Sales Processes
Target Audience
Background
Conditions driving need
Targeted Titles & Personas
What to say/how to position
Competition and Differentiation
Overview of Sales tools & resources
Sales PlaybooksGo-to-Market Strategy

ikeGPS
17
A Map-View of Usage, and how IKE customers deploy our software
Crown Castle in Florida

ikeGPS
18
A map-view of Usage, and how IKE customers deploy our software
AT&T in 7 example States

ikeGPS
19
IKE solutions make fiber and 5G network deployments faster
IKE dramatically speeds up the network deployment process.
•>$300B expected investment into fiber network development in the U.S over next 5+ years
•>$50B expected investment into 5G network development in the U.S. over the next 5+ years
•An additional >$60B expected investment into rural broadband development as part of the Biden administrations
new Infrastructure bill
•>200 Communications companiescompeting to build a networks and winunderlying customers
•>2,000 engineering serviceproviders supporting network development

ikeGPS
20
Fiber and 5G Investment Super-Cycle in North America Still In Its Early Stages
PROJECTED INVESTMENTS INTO 5G & FIBER OPTIC INFRASTRUCTURE
$39B
20102018
$43B
$72B
2025
45% Growth in Avg. Capex p.a.
$NZD
Source: Bell Potter Initiation of Coverage Report, GSMA, American Tower
Note: Labeled Capex Figures reflect Houlihan Lokey Estimates

ikeGPS
21
Some of the largest U.S. Communication groups have Standardized on IKE
And a fast-growing footprint of tier-2 fiber businesses
Takeaways
•Several of the largest comms group
in North America: AT&T ($107B),
Crown Castle ($39B), Bell Canada
($47B)
•A fast-growing footprint of the tier-
2 fiber companies
Opportunities to:
•Grow, upsell and cross-sell IKE
products into existing customer
base
•Win new logos in the North
American market
•Expand into international markets
over time
Communications
Electric Utilities
Engineering & Project Management

ikeGPS
22
$5.4B
TAM
$550M Fiber / 5G
Market Opportunity
0.6M
Poles Needing
Small Cell
Deployments
Overall.. an Addressable Market Opportunity That is Expected to Grow Strongly
(1)Assumed 80% discount rate on range of fibre deployments
(2)Other services include design planning, grid hardening/resiliency programs, NESC violations, joint use attachment audit, billing audits , etc.
Source: Management Estimates, Bell Potter Initiation of Coverage Report, Houlihan Lokey Estimates
Note: Market analysis does not include opportunity that will arise from growth of pole infrastructure
$NZD
5G Small Cell
Antenna
Fibre Connections
5G and Fibre
4.2M
1
Poles
Requiring Fiber
Connections
$113 Cost of
Service
$4.8B Electric Utilities
Opportunity
40M Poles
Needed for
Audit per
annum
Estimated
$50 Cost of
Audit per
Pole
Estimated
$113 Cost of
New Build
per Pole
>200M Total No. of
Electrical Poles
25M Poles
Used for
Other
Services
2
Utilities
$NZD

ikeGPS
23
50%+
Of US energy consumption will be comprised of
electricity on the distribution grid by 2050 to attain
carbon net zero targets, and power the new EV market,
compared to current levels of just 20% = engineering
requirements to build capacity on the network.
Market Tailwinds Summary
Source: Bell Potter Initiation of Coverage Report, GSMA, American Tower, Accenture, Grandview Research, Global Newswire, Ryse Energy, World Economic Forum
Small Cell Deployments across North
America, much of it engineered on
distribution power poles
800,000+
Small cell site expansions are expected by 2025 as
communications infrastructure providers look to speed up 5G
rollout while reducing cost and time of deployment
Requirement for harder and higher
capacity distribution power networks
across all of North America
>3,200
Electric Utilities in North America with long-term, recurring
distribution network hardening, joint use, and capacity needs for
electrical distribution
7+ year macro-market tailwind of fiber
deployment, much of it engineered on
distribution power poles
>$350B
Investment forecast in fiber in the US by 2025, representing >30M
attachments; communications infrastructure providers seeking
partners to manage new fiber attachments for every pole
Infrastructure development via
Engineering Service Providers
>1,000
Engineering Service Providers in the US subcontracted by
telecom and utilities providers to assist in infrastructure
development and deployment
Massive engineering requirements for an
evolving distribution network supporting
an increase in global consumption of
electricity

ikeGPS
24
Sticky Infrastructure Customers Making Long-Term Work-Practice Decisions
IKE Lands-then-Expands
Takeaways
•6 of the 10 largest Investor-Owned
Utilities (“IOUs”) in North America, all
multi-billion dollar businesses
•>400 customers in North America,
with 60 logos added in FY23 or 1 per
week
•>5,000 enterprise target accounts
to pursue overall
Opportunities to:
•Grow, upsell and cross-sell IKE
products into existing customer
base
•Win new logos in the North
American market
•Expand into international markets
Communications
Electric Utilities
Engineering & Project Management

1H FY24 Business Development Highlights
The six-month period to 30 September 2023
Revenue: 1H update and 2H outlook
New products in-market
Important customer wins
Talent and team development

ikeGPS
26
-As signaled, revenue in 1H FY24 was below pcpdue to
timing delays of engineering programs across three of
IKE’s largest national infrastructure customers.
Specifically, this resulted in:
-Ongoing growth in recurring subscription revenue, but
-Lower reoccurring transaction revenue in the period vs pcp
-Overall, lower revenue in 1H FY24 vs pcp
-Importantly, the delayed long-term customers referred to
are not ‘lost’ and these groups are guiding for high levels of
IKE product usage over the coming periods
-In addition, the company continued to see ongoing strong
growth in recurring subscription revenue vs pcp
-IKE’s additive sales opportunity pipeline supports the
potential for substantially increased contracts and
revenue in the 2H FY24 period, and beyond, from existing
customers and new logos
1H, Revenue Update and 2H Outlook

ikeGPS
27
1H, Important Customer Win Examples
Win run-rate of approximately one new U.S. enterprise customer per week.
Tier-1 Comms customer winTier-1 Investor-Owned Utility win
Tier-1 Engineering customer win
•National fiber business.
•Supporting a network program across
California
•Expectation for ~$1.5m in subscription
revenue over the coming 18-24 months
•Opportunities to expand into other States
•One of the largest national EPC’s serving
the electric utility market in North
America
•Initially, supporting a decade-long
contract for a utility in New Mexico
•Opportunities to expand substantially
across this EPC’s national footprint over
time
•One the of the 10 largest IoU’s in North
America
•Adopting next-gen IKE PoleForeman
product and business model
•Displacing incumbent competitor
•Multi-year subscription contract >$4ook

ikeGPS
28
1H, Product Innovation Delivery
Expected to increase recurring subscription revenue substantially from the legacy PoleForeman customer footprint
Launched this quarter, and designed with a customer council including the Standards Group leaders within:
IKE Office ProIKE StructuralIKE InsightIKE Analyze

ikeGPS
29
Integrates with existing applications, data, and systems,
IKE Insight
Data source and image agnostic
Dashboards
API & Multiple File Types
JSONKMLCSV
and more...
Existing Data
Images
DronesThermal Imagery
Field DevicesLidarSatellite
1H Product Innovation Delivery
Takeaway:
Faster Network Viability Assessment and More Profitable
Deployment.
Via automated analysis of bulk data for joint-use and
overhead network deployment,
at whole-of-network scale.

ikeGPS
30
Example Analysis for Network Viability Assessment
At whole of network scale
-IKE Insight determines pole categories relative
to make-ready requirements (category-logic
can be set by the customer through the Insight
rules application)
-Category 1: (0 or 1) wire detected in the
bottom 80% of pole
-Category 2: (2 or 3) wires detected in the
bottom 80% of pole
-Category 3: (3) wires detected in bottom
80% of pole AND transformer or
streetlight detected anywhere on pole
-Category 4: (4) or more wires detected in
bottom 80% of pole

ikeGPS
31
-IKE Insight determines pole categories relative
to make-ready requirements (category-logic
can be set by the customer through the Insight
rules application)
-Category 1: (0 or 1) wire detected in the
bottom 80% of pole
-Category 2: (2 or 3) wires detected in the
bottom 80% of pole
-Category 3: (3) wires detected in bottom
80% of pole AND transformer or
streetlight detected anywhere on pole
-Category 4: (4) or more wires detected in
bottom 80% of pole
Example Analysis for Network Viability Assessment
At whole of network scale

ikeGPS
32
-IKE Insight determines pole categories relative
to make-ready requirements (category-logic
can be set by the customer through the Insight
rules application)
-Category 1: (0 or 1) wire detected in the
bottom 80% of pole
-Category 2: (2 or 3) wires detected in the
bottom 80% of pole
-Category 3: (3) wires detected in bottom
80% of pole AND transformer or
streetlight detected anywhere on pole
-Category 4: (4) or more wires detected in
bottom 80% of pole
-Example images of each – 3
Example Analysis for Network Viability Assessment
At whole of network scale

ikeGPS
33
-IKE Insight determines pole categories relative
to make-ready requirements (category-logic
can be set by the customer through the Insight
rules application)
-Category 1: (0 or 1) wire detected in the
bottom 80% of pole
-Category 2: (2 or 3) wires detected in the
bottom 80% of pole
-Category 3: (3) wires detected in bottom
80% of pole AND transformer or
streetlight detected anywhere on pole
-Category 4: (4) or more wires detected in
bottom 80% of pole
-Example images of each – 4
Example Analysis for Network Viability Assessment
At whole of network scale

ikeGPS
34
Resulting in Visual Dashboards to Optimize a Network Deployment
Example from Erie, CO market

ikeGPS
35
10x Faster. 4x Cost reduction.
Dramatically faster fiber network deployment
Takeaways:
With IKE Insight, a 200,000 fiber attachment
program payback:
-deploy >6 months faster
-save >$1m in pre-survey assessment
costs alone.

ikeGPS
36
Brett Willitt, SVP Product
•Former President of structural
analysis and structure
management software company
SPIDA Software (SPIDA). -
•SPIDA was acquired by NASDAQ
listed Bentley Systems Inc. in
2021, where he subsequently led
segments of Bentley’s’ global
distribution network software
division.
•Prior, held other prominent
positions in the energy industry,
including Product Engineering
Manager at Osmose Utilities
Services and Joint-Use product
manager at FirstEnergy Utility.
•Began his career as a network
planning engineer for Verizon.
•Holds a BS in Civil Engineering
from Clarkson University.
Brian Musfeldt, CFO
•Former CFO of Also Energy Inc.,
where he was part of the executive
team that grew the business at
more than 30% CAGR over six
years and led its sale to NYSE-
listed STEM Inc. for US$652m.
•Prior, Brian held CFO roles with
companies including Zayo
Bandwidth Inc. – a high-growth
national fibre business, MST Global
inc. - an industrial network and
software provider for critical
communication and network
solutions, and Intermap
Technologies Inc.
•Holds an MBA from Colorado State
University, and began his career as
a Certified Public Accountant with
six years at KPMG / Arthur
Anderson focused on the
technology & software segment.
1H, Capability added to the IKE team
More tier-1 hires expected in 2H

ikeGPS
37
1H acquisition, extending IKE’s training & education capability
The assets of Marne & Associates . Expanding sales & brand channel for product cross-sales
•Marne & Associates specialize in training utilities,
communications companies, and engineering groups for the
application of the National Electrical Safety Code (NESC) in the
day-to-day work at a utility, the application of NESC Rules for
Joint-Use Construction (for engineers and line workers),
Occupational Safety and Health Administration (OSHA 1910.269)
for Power Workers, and OSHA 1910.268 (for Communication
Workers).
•While IKE is a software & technology company, we have
established an important sales channel via education & training
capability. This acquisition further allows us to add value to,
engage with, learn from, and ultimately cross-sell our products to
end-users (who are the future decision makers) within utilities,
engineering companies, and communications groups.

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Multiple Avenues Supporting Future Growth Potential
Sales Team
Expansion / New
Customers
Inorganic
Growth
Cross Sell & Upsell into
Existing Customer Base
International
Expansion
$43mm
Revenue
“Today”
Revenue
“Future”
2
3
4
1
Sales Team
Expansion /
New Logos
1
Platform for
Inorganic Growth
3
Cross Sell &
Upsell
2
International
Expansion
4

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Thanks
Manaakitanga: We Rise By Lifting Others

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40
Q&A
We’re IKE, The PoleOS™ Company
IKE seeks to bethe standard for collecting, analyzing and managing pole
and outside plant (“OSP”) information for electric utilities,
communications companies, and their engineering service providers
The IKE platform allows its customers to increase speed, improve
quality, and deliver safety in the assessment, construction, and
maintenance of distribution poles and other OSP assets
IKE’s purpose is Manaakitanga, which means”to rise by lifting others”