ikeGPS 1H FY25 Investor Webinar

IKE 1H FY25 Performance Update & Outlook
We’re IKE, the Pole OS Company
Glenn Milnes, CEO and Brian Musfeldt, CFO
glenn.milnes@ikegps.com, brian.musfeldt@ikegps.com
October 2024
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 FY24 financial results (audited), 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 Performance Headlines
Outlook
Addressable market and IKE’s value proposition
Q&A

ikeGPS
4
•Significant growth in underlying
subscription revenue.
•Three-year subscription revenue CAGR of
+38%.
•During FY25, this is expected to increase
materially by ~40% or greater vs pcp.
Subscription revenue growth has continued to be consistently strong
with a three-year CAGR of 38%
In 1H, a total of ~$33M of contracts closed
Takeaways:

ikeGPS
5
•+34% YoY growth in the exit run
rate (ERR) of annual platform
subscription revenue.
•As stated, during the FY25 period
this metric is expected to
continue to grow materially (by
~40% or greater vs pcp) driven by
continued growth of IKE Office
Pro subscription sales and the
successful sell-through of IKE’s
next-generation IKE
PoleForeman subscription
product, with TCV of ~NZ$12.5m
already closed.
Exit Run Rate (ERR) of annual platform subscription has grown to NZ$13.2m
as at 30 September 2024
Takeaways:

ikeGPS
6
•Subscription seat license
growth of +179% over the past
year.
•Seat count growth has
accelerated at a fast pace due
to customer additions and
upsells, as well as selling
customers onto a new per-seat
subscription model when
adopting the new IKE
PoleForman product (released
late FY 2024).
179% YoY increase in subscription seat licenses, evidencing the impact of
new product introductions with very sticky customers
Takeaways:

ikeGPS
7
•Three-year transaction revenue
CAGR of +20%.
•Noting gross margin increased
+107% vs pcp.
•Based on contracts signed in Q2
FY25, IKE expects transaction
volumes and associated
revenue to continue to build
into 2H FY25.
Three-year transaction revenue CAGR of 20%, and improved margin profile
Takeaways:

ikeGPS
8
•Total cash and receivables as at 30 September 2024 of
~NZ$11.1m, comprised of ~NZ$6.8m cash and
~NZ$4.3m receivables, with payables of NZ$1.0m and
no debt.
•As context, cash has reduced ~NZ$3m over the past 12
months during a period of substantial investment into
building five new products, three of which have now
been launched to market, and through a period of
substantial recurring revenue and customer growth.
• Investment into product development is paying back,
an example being IKE PoleForeman. This new product
has been in-market for ~nine months and to date the
product has generated ~$12.5m in Total Contract Value
and has increased IKE’s ARR by ~NZ$4.0m.
Key metrics table
Other Takeaways:
Customer Number Reconciliation:
Since 31 December 2023, IKE has changed its reporting of customer
numbers from ‘All Enterprise Customers’ to ‘Subscription
Customers’, reflecting only customers with recurring subscription
revenue. The reconciliation between these two metrics will be
reported until 31 December 2024. Reconciliation is as follows:
1H FY25
1H FY24
% Change
Total Revenue
$12.2m
$10.5m
+16%
Platform Subscriptions
Total # of Subscription Customers
413
368
+12%
Total Number of Seat Licenses
5,990
2,144
+179%
Platform Subscription Revenue
$6.5m
$5.1m
+28%
Gross Margin
$5.7m
$4.5m
+27%
Gross Margin %
87%
87%
Platform Transactions
# of Billable Transactions
160k
142k
+13%
Platform Transaction Revenue
$4.0m
$3.7m
+6%
Gross Margin
$1.5m
$0.7m
+107%
Gross Margin %
37%
19%
Hardware & Other
Hardware & Services Revenue
$1.7m
$1.7m
0%
Gross Margin
$1.0m
$1.0m
0%
Gross Margin %
58%
60%

Update & Outlook

ikeGPS
10
IKE PoleForeman as the Standard for Distribution Network Design.
New SaaS Product to Market https://ikegps.com/ike-poleforeman/
•The new IKE PoleForeman product has been in-market
for ~nine months and to date has generated ~$12.5m in
Total Contract Value and has increased IKE’s ARR by
~NZ$4.0m.
•In total, ~84 customers have initially subscribed to this
new platform, of which ~50 were existing customers
and ~34 are new customers. Far exceeding our
adoption rate expectations.
•This translates to several thousand new seat licenses,
each representing a distribution network design
engineer utilizing the software.
•We expect further major customers to close in the near
term and that IKE PoleForeman will ultimately be the
Standard for structural analysis in eight-of-the-ten
largest electric utilities in North America.
Takeaways:

ikeGPS
11
AI-based automation products in-market Q2. Further AI products coming 2H.
Built to drive dramatic productivity improvements into specific distribution-network engineering workflows.

ikeGPS
12
AI-based automation products in-market Q2.
Double-Wood Detective AI Product
Validate
Confirm instances of double wood from
existing records.
Change detection
Capture changes to double wood records,
such as pole removal status.
Detect
Locate undetected instances of
double wood

ikeGPS
13
AI-based automation products in-market Q2.
Joint-Use Ticket Automation AI Product
Make-ready construction
Prep poles for new attachments while
maintaining safety and compliance with
standards.
Pole transfers
Transfer attachments from an existing
pole to a newly installed one.
Violation reporting
Address common issues that arise during
inspections and audits, such as NESC
infractions and double wood.

ikeGPS
14
Appendices
Manaakitanga: We Rise By Lifting Others

What IKE does, and the large, long-term North American
market opportunity being addressed
Customer and Market re-cap

ikeGPS
16
IKE has developed Software Products to Engineer a Network through its Lifecycle
Digitizing network
Assessment
AI for whole-of-network
distribution Planning
Pole loading analysis and
structural Design,
Maintenance & Resilience
Technology & automation capability to
accelerate customers engineering processes
+
Business model upshot
•A recurring Subscription to
access any IKE Solution
•Additive, reoccurring revenue
based on usage (license seats
or transactions)
•Optional value-added
products , such as IKE Analyze
(driving further transaction
revenue) and training &
education service via IKE
University
<Network Planning> <Assessment & Digitization> <Network Design> <Network Maintenance & Resilience>

ikeGPS
17
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
18
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
$NZD in B

ikeGPS
19
Where IKE sells: U.S. Market-Map of Investor-Owned Utilities (multi-$B companies)
A huge expansion opportunity......

ikeGPS
20
Plus >2,800 Municipalities and Co-Operatives
All of which represent sales opportunities for IKE products
Takeaways
•Market timing is everything
•IKE is in the right place, at the right
time, and with the right technology,
team and execution capability
•Today, IKE has a presence in
approximately 6% of addressable
customers, but is estimated to be
only 20% penetrated. So an
opportunity to:
•Develop an additional 80%
revenue per annum from the
existing customer footprint as
‘White Space’ via cross-sell and
up-sell, plus to
•Sell to the other 94% of the
market via ‘Green Field’ new logo
opportunities

ikeGPS
21
8 of the 10 largest Investor-Owned Utilities have standardized on IKE
IKE Lands-then-Expands
Takeaways
•8 of the 10 largest Investor-Owned
Utilities (“IOUs”) in North America, all
multi-billion dollar businesses
•>400 customers in North America,
with 59 new logos added in FY24 or
approx. 1 per week in FY24 YTD
•>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

ikeGPS
22
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
23
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
$NZD
Source: Bell Potter Initiation of Coverage Report, GSMA, American Tower
Note: Labeled Capex Figures reflect Houlihan Lokey Estimates

ikeGPS
24
Some of the largest U.S. Communication groups have Standardized on IKE
And a 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 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
25
$5.4B
TAM
$550M Fiber / 5G
Market Opportunity
0.6M
Poles Needing
Small Cell
Deployments
Overall.. a Large Addressable Market Opportunity That is Expected to Grow
(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
26
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%, this equals an
engineering requirements to build capacity on the
network.
Market Tailwinds Over the Coming Decades
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
27
A Map-View of Usage, and how IKE customers deploy our software
Crown Castle in Florida

ikeGPS
28
A map-view of Usage, and how IKE customers deploy our software
AT&T in 7 example States

ikeGPS
29
A strengthened team of North American industry experts
Key directors and senior leaders appointed through this past year
Ani Adzhemyan
Chief Marketing Officer
Ani brings 19 years of experience in marketing, focusing on the industrial and energy sectors. Prior to IKE, Ani held a
range of marketing roles with technology leaders like IBM, GE, ABB, and Hitachi Energy.
Roz Buick
Non-executive Director
Roz brings more than 25 years’ experience from executive leadership positions across global utility, engineering,
construction, real estate and agriculture markets with companies including Oracle Inc. and Trimble Inc. Roz is an
industry leader who has led businesses through new growth strategies that are market differentiating and innovative,
both with product and go to market strategies
Brett Willet
SVP Product
Brett has over 25 years in grid asset management. Before IKE, he served as a Senior Director at Bentley Systems Inc.,
following its acquisition of SPIDA Software in 2021, where he was President. Brett's utility industry experience
includes roles such as Product Engineering Manager at Osmose Utilities Services, Inc., and Joint Use Program
Manager at FirstEnergy Corp.
Brian Musfeldt
CFO
Brian brings over 25 years of experiences relevant to IKE’s industry and growth trajectory. Most recently he was CFO of
Also Energy Inc. Prior to this, Brian has held CFO roles with companies including Zayo Bandwidth Inc, MST Global Inc,
and Intermap Technologies Inc. Brian began his career as a Certified Public Accountant with six years at KPMG / Arthur
Anderson as an audit manager focused on the high-tech & manufacturing sectors.

ikeGPS
30
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

ikeGPS
31
Thanks
Manaakitanga: We Rise By Lifting Others

ikeGPS
32
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”