FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Capital/Financing Update 2024

Aug 20, 2024

ASX Announcement

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FirstWave Extends And Expands Microsoft Agreement

Global network management and cybersecurity software group FirstWave Cloud Technology Limited (ASX: FCT) is pleased to announce it has secured an extension and ARR uplift to its contract with global technology group Microsoft Corporation (NASDAQ: MSFT).

The new 12-month agreement has a total value of more than $600,000, including a 27.5% uplift from the previous agreement. FirstWave has worked with Microsoft across a range of different products and environments since 2021.

The increase in value of the agreement is primarily due to expanding the implementation of the software and in particular an increase in the number of licensed nodes.

FirstWave CEO Danny Maher said the new agreement with Microsoft supported the company’s strategic goal of growing its network management footprint in North and Latin America.

“We have built powerful and affordable network management software that continues to be valued by large blue chip corporate and telecommunications clients,” he said.

“To secure a client like Microsoft under an expanded contract is a strong validation of the strength of our technology and organisation and we look forward to continuing to build the relationship over time.”

Mr Maher said the USA and Latin American markets continued to present the most significant opportunity for FirstWave to achieve its growth ambitions.

“There is a large, untapped market for network management services in these markets, and we have built a highly prospective pipeline of new contracts with current and new clients,” he said.

FirstWave announced earlier this month that its Network Management Information Systems (NMIS) operations had secured over $530,000 of new sales and renewals in Q4 (three months to June 30, 2024), including Claro Ecuador, Claro DR (Dominican Republic), Macquarie Cloud Services and Services Australia.

The company also announced in June that it had refined and extended a significant agreement with key customer Telstra Corporation Limited (ASX: TLS).

ENDS

This announcement has been authorised for release by the Board of Directors.

For media inquiries, please contact: Ben Ready RGC Media & Mktng 0415 743 838 ben@rgcmm.com.au

About FirstWave:

FirstWave is a global software company formed in 2004. The Company is a leading provider of enterprise-grade network management, automation, audit and cybersecurity software, with over 150,000 organisations using FirstWave software across 178 countries. Clients include Microsoft, Telmex, Telstra, Claro and NASA.

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FirstWave Cloud Technology Limited ABN: 35 144 733 595 Level 14, 132 Arthur St North Sydney, NSW, 2060, Australia T +61 02 9409 7000 W Firstwave.com