ICETANA LIMITED — Capital/Financing Update 2021

Oct 11, 2021

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12 October 2021

icetana secures new order for Middle East shopping mall expansion

Highlights:

• icetana has received an order for a further expansion of its motion intelligence platform to a large shopping mall site in the Middle East valued at US$138,000 over the first 12 months of service.

• The order continues to build on icetana’s strong presence in the Middle East surveillance market adding to over 8,000 shopping mall surveillance cameras already licensed.

• The customer operates several high-end shopping malls and this is the second mall being connected by icetana.

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icetana Limited (ASX:ICE “icetana” or “the Company”) is pleased to announce that it has received a purchase order to supply icetana’s motion intelligence video analytics solution to an existing customer which operates a number of Middle Eastern shopping malls.

The order has a value of US$138,000 (circa A$187,000) inclusive of 12 months of support and maintenance. This deployment represents icetana’s second retail mall site with this customer. Other sites provide considerable opportunity for additional growth.

This new order builds on the substantial presence that icetana has in shopping malls in the Middle East.

Implementation will be undertaken by icetana technicians based in our Dubai office working closely with the customer. Hardware supply is excluded in the arrangement with the contract focused on software delivery and services only.

The contract is priced on an enterprise basis offering the potential (subject to contract) for future annual recurring revenue through support and maintenance arrangements typically in the range of 10%-15% of the initial contract value.

Chief Executive Officer Matt Macfarlane commented:

“We love it when a client seeks to expand their relationship with us. icetana’s motion intelligence software consistently provides both operational and budgetary benefits for actively managed security operations. The proven return on investment from our initial deployment has led to this new order.”

icetana Limited | Level 4, 45 St Georges Terrace, Perth WA 6000 PO Box 5668, Perth WA 6831 Phone: +61 8 6282 2811 | www.icetana.com

ABN: 90 140 449 725

Material terms of commercial arrangements:

• The contractual arrangement disclosed in this announcement is between icetana and Tamdeen Shopping Centers Co, the “customer”.

• The customer is subject to the End User Licence Agreement as published on the icetana website;

• Payment terms with the customer are 45 days with 50% due after receipt of the order and 50% upon software deployment.

• This customer was previously supported through a local reseller and has a positive payment history.

• The order includes a 12 month term of software support and maintenance. Ongoing support and maintenance after the initial 12 months will be subject to a software maintenance agreement. It is therefore possible that no material revenue over and above the initial order value materialises from the customer pursuant to this commercial arrangement going forward.

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Authorised for release by the Board of icetana Limited.

For further information contact:

icetana Limited

Matt Macfarlane CEO and Managing Director +61 400 605 960 matt@icetana.com

About icetana

icetana Limited is a global software company providing video analytics solutions designed to automatically identify anomalous actions in real-time for large scale surveillance networks. Our software integrates with customers’ existing video management systems and IP cameras.

Using artificial intelligence and machine learning techniques, the icetana motion intelligence solution learns and filters out routine motion, showing only anomalous or unusual behaviour allowing operators to focus on events that matter and respond in real-time to both precursor activities and incidents. icetana has a broad range of use cases across a growing number of industry verticals. It has been implemented at over 40 sites on four continents, helping clients harness the rich data streams from their existing security networks and turning that data into improved situational awareness and deeper operational insights.