FLEXIROAM LIMITED — Capital/Financing Update 2022

Apr 13, 2022

14 April 2022

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FLEXIROAM SIGNS IOT DEAL WITH WEARABLE GPS TRACKER MANUFACTURER LUTIKEY

Key highlights:

• Flexiroam will supply IoT connectivity to American wearable device manufacturer Lutikey LLC, who produces LutiBand Smartwatch dedicated to seniors

• Aligns with Flexiroam’s strategic focus on scaling its IoT offering into global markets

• The Company’s first wearable device IoT agreement and first IoT agreement where Flexiroam SIM cards are embedded by the device manufacturer

• The annual volume commitment will deliver A$135k total revenue to Flexiroam

Flexiroam Limited (ASX:FRX) ( Flexiroam or the Company ) is pleased to announce that it has signed an agreement to provide IoT connectivity to Lutikey LLC, a US based company that manufactures LutiBand Smartwatches for Seniors.

Under the agreement, Flexiroam will provide Internet of Things (IoT) connectivity to a minimum of 10,000 LutiBand Smartwatches, for an initial term of 3 years. The agreement contains terms and conditions which are customary for an agreement of this nature, including a 30-day termination notice by either party. The minimum annual volume commitment is A$135k, which will increase as the number of devices and data consumption increases.

Commenting on the agreement, LutiBand Chief Executive Officer Gustavo Rubacha said: “We are very excited to be partnering with Flexiroam, a global network connectivity provider with a strong track record of delivering connectivity to IoT devices. Our technology allows Seniors and people with pre-existing conditions to be protected all the time, providing geo-location, biometrics sensors and interconnection with the emergency services when they need help during emergencies and Flexiroam’s 520 global operators will provide the guaranteed connectivity we require. We will be launching a project that will see us embed 10,000 Flexiroam SIM cards into our devices, ensuring they stay connected to the most reliable and stable networks globally.”

Flexiroam CEO & Executive Director Marc Barnett said: “I am pleased that LutiBand have chosen Flexiroam to be their IoT connectivity provider for their tracking devices. Today’s agreement with Lutikey is an important milestone, as it marks our entry to the wearable device vertical, which is a huge and growing market. Integrating connectivity at the manufacturer level ensures a long-life cycle, while providing the convenience of ensuring devices will always be connected to the best network, straight out of the box.

“The agreement will deliver a minimum of A$135k of revenue per annum, based on committed data and SIM purchases, which is expected to increase over time. The demand for our innovative IoT offerings continues to accelerate, with companies requiring cost effective connectivity with guaranteed coverage, as they rapidly expand in new markets. We are well placed to take advantage of strong long-term opportunities to scale our Flexiroam Solutions business, underpinned by increased IoT adoption across multiple verticals.”

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AUTHORISED BY THE BOARD OF DIRECTORS

Corporate Inquiries

Marc Barnett, CEO & Executive Director Telephone: +61 2 8188 3919 Email: investor@flexiroam.com

Investor Inquiries

Market Eye Justin Foord Telephone: +61 2 8097 1200 Email: justin.foord@marketeye.com.au

ABOUT FLEXIROAM

Founded in 2011 by Jefrey Ong, Flexiroam Limited (ASX:FRX) started with a mission to push the boundaries of communications. What began as a solution for travellers needing seamless mobile data at competitive rates, has evolved beyond the consumer travel market.

Flexiroam provides connectivity across any device, in any part of the world for any application. The Company is a superconnector for people and machines globally. Flexiroam’s versatile network now spans across 520 network operators in over 200 countries and territories, making it the preferred service for consumers and businesses worldwide.

For further information, please visit https://www.flexiroam.com/

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