IKE wins material customer contract extension

IKE wins $1m customer contract extension ikeGPS Group Limited (ASX/NZX:IKE) or IKE, the company setting the standard for collecting, managing and analysing pole and overhead asset information for electric utilities, communications companies and their engineering service providers, is pleased to announce: - That it has signed an extension to a contract with a communications customer supporting fibre infrastructure deployment in the U.S. - This follow-on contract will generate approximately $1m of transaction revenue in the coming 12 months. - It is expected that approximately 50% of this contract value will be recognized in IKE's FY22 (the period ending 31 March 2022) and the additional approximately 50% in IKE's FY23. - This is a fifth phase contract extension with this customer, who have indicated that further material contracts are likely to follow for IKE based on the extent of their infrastructure build plans across multiple U.S. markets. - This customer will utilise the IKE platform to assess pole assets prior to deploying its fibre network. IKE CEO Glenn Milnes commented, "The expansion of this customer further demonstrates the value that the IKE platform provides to communications groups, and our ability to expand the use of our platform over time across targeted groups. This specific entity has been a customer for several years, growing from an initial annual account size of tens of thousands of dollars to a multi-million dollar account today. The long term revenue opportunity with this group is substantial." Today's announcement follows recent releases highlighting other material customer expansion contracts. ENDS ikeGPS Group Limited 350 Interlocken Blvd, Suite 390, Broomfield CO 80021, USA Office: +1 303 222 3218 www.ikegps.com 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. Contact: Simon Hinsley Investor Relations +61-401-809-653 simon@nwrcommunications.com.au Glenn Milnes CEO +1 720-418-1936 glenn.milnes@ikegps.com End CA:00380416 For:IKE Type:GENERAL Time:2021-10-05 10:35:08