IKE Secures Another Significant Multi-Year Subscription

For Immediate Release
6 March 2024
IKE Secures Another Significant Multi-Year Subscription Deal
A NZ$0.8M three-year contract from major U.S. electric utility for IKE PoleForeman.

Additive total contract value of ~NZ$6m won since product launch late 2023.

ikeGPS Group Limited (ASX/NZX:IKE) or IKE, today announces that:
 It has signed a ~NZ$0.8m three-year subscription deal with a Fortune 500 Company that
serves approximately four million customers on the east coast of the U.S.
 Specifically
 Over the coming period, this customer commitment means over 100 engineers at
this electric utility will use IKE Poleforeman’s advanced capabilities.
 This utility is using IKE PoleForeman for structural analysis and the design of
distribution assets, to meet grid resiliency and network capacity targets over the
coming decades.
 This upsell signifies a more the fivefold increase in annual recurring revenue from
this customer.
 An expected consequence of this Standards decision at the utility is that additional
engineering companies and communications groups, working across this utility’s
network, will also adopt IKE PoleForeman.
 Since launching the IKE PoleForeman product late 2023, more than 30 enterprise
customers in the U.S. have signed onto the platform, representing total contract value of
~NZ$6m that will be recognized over the coming periods as subscription revenue.
This contract follows the late-December announcement that IKE had also signed a ~NZ$3.7m
subscription contract with a Fortune 150 Company and one of the ten largest Investor-Owned
Utilities in the U.S., upgrading them from IKE’s legacy product to its new PoleForeman structural
analysis platform. Over the coming five years, this long-term customer commitment means that
over 1,000 engineers at this utility will use IKE Poleforeman’s advanced capabilities.
New customer wins have included flipping one of the ten largest utilities in North America from a
competitor. IKE anticipates winning further significant contracts with tier-1 customers in the
short and medium term.

ENDS

About IKE
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 revenue engine for IKE is driven by both the number of users within enterprise customers
subscribing to the IKE platform and the volume of assets (called Transactions) being processed
through IKE software.

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

Glenn Milnes
CEO
+1 720-418-1936
glenn.milnes@ikegps.com
ikeGPS Group Limited
329 Interlocken Pkwy, Suite 120, Broomfield CO 80021, USA
Office: +1 303 222 3218
www.ikegps.com